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Regional News of Thursday, 14 July 2016


Golden Star commences production in Wassa Mines

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Golden Star Resources Limited has started preliminary production before it begins production in commercial quantities at its Wassa Underground mine in Ghana.

A statement from the company’s headquarters in Canada, released on July 12, said that there was “successful blasting of the first stope in the F Shoot of Wassa Underground, [which] took place on July 10, 2016, delivering the first ore from the new underground mine to the Wassa processing plant”.

The statement further indicated that for its Wassa Mines, “the first stop is in the upper part of the F Shoot, which is one of the more moderate grade areas of the deposit. The higher grade areas within the B Shoot are scheduled to be accessed in early 2017”.

According to the firm, the Wassa Underground mine, “is expected to achieve commercial production in early 2017, at which time it is expected to deliver 2,000-2,500 tonnes of ore per day. The development rate at Wassa Underground is currently 10 to 12 metres per day and it is expected to continue to increase throughout the second half of 2016”.

According to the company, the Wassa Underground has Probable Mineral Reserves of 5,397,000 tonnes at a grade of 4.59 grams of gold per tonne for 796,000 ounces of gold. Wassa Underground is forecast to produce 20,000-25,000 ounces of pre-commercial gold production in 2016 and it remains on track to achieve this per initial results and analyses of data.

Gold Star further revealed that production from the combined Wassa Main pit and Wassa Underground operations is “expected to be 120,000-135,000 ounces of gold in 2016 and average life of mine-combined production is anticipated to be 163,000 ounces of gold per annum”.

Golden Star's total production in 2016 is also estimated to hit 180,000-205,000 ounces of gold with cash operating costs of US$815-US$925 per ounce.

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