SYS-CON MEDIA Authors: Liz McMillan, Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel

News Feed Item

Asanko Gold Mine Phase 1 Project Update

Highlights:

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/18/14 -- Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE MKT:AKG) is pleased to provide an update on activities at the fully funded and permitted Asanko Gold Mine (the "AGM" or the "Project") in Ghana. In early April, the Company engaged DRA as the Engineering, Procurement, Construction and Management ("EPCM") contractor for the design and construction of Phase 1 of the Project as well as Knight Piesold to design the Tailings Storage Facility and carry out detailed geotechnical engineering works for the site. Shortly thereafter, the Company initiated an early works program designed to advance the critical activities that will allow the Company to maintain its project schedule, targeting first gold in Q1 2016.

Detailed engineering and early works programs are proceeding on schedule, ground breaking at the plant site is expected to commence in August 2014, pending a positive investment decision on the Project by the Board in July.

Asanko Gold Mine Site Early Works

The site early works program, which began in April 2014 with a budget of approximately US$16 million, has been progressing on schedule and on budget. For photos of the early works progress at AGM, please click on the following link: http://www.asanko.com/s/photogallery.asp


--  Upgrading of the site access road is nearing completion with 8km out of
    11 km completed. 
    
--  Refurbishment of the mining village is 80% complete. 
    
--  The plant medical clinic construction is nearing completion and will be
    operational in early July. 
    
--  Mobile equipment orders have been placed and delivery of key equipment
    is scheduled for July. 
    
--  Refurbishment and upgrades to the site's airstrip have been completed
    and inspected by the regulatory authorities. 
    
--  Construction of the communication tower and office potable water systems
    have commenced. 

Detailed Engineering

Since commencing work in early April, DRA have advanced several key front-end engineering and design activities, including:


--  Plant layout is now complete, revised to incorporate a potential Phase 2
    expansion to the plant. 
    
--  An initial order is expected to be placed shortly for the detailed
    design of the 161kV electrical infrastructure. 
    
--  Various structural and civil designs are underway to allow bulk earth
    works to commence at the plant site in August 2014. 
    
--  Mechanical equipment list, process and instrumentation diagrams and
    process design criteria have been completed. 
    
--  Operating costs are in the process of being updated. 
    
--  Civil, mechanical, electrical and infrastructure designs have been
    completed to sufficient detail to allow the detailed capital cost to be
    estimated. 
    
--  The Control Base Estimate ("CBE") or detailed capital cost estimate for
    the Project is in the final stages of completion with all tenders
    closed. 

Knight Piesold have advanced geotechnical engineering with some additional geotechnical drilling completed over the past two months to support the detailed mine plan for the Nkran pit.

Resource Update & Mine Planning

Asanko's independent Qualified Person with respect to NI 43-101 has completed revisions to the Mineral Resource Estimate ("MRE") for the Nkran and Adubiaso pits, which are currently being used for detailed mine planning.

While the overall MRE has not changed materially since the previous estimate (announced in September 2012 and the basis for the Company's current disclosure), the revised estimate incorporates a more detailed geological model and utilises a combination of Indicator Kriging and Ordinary Kriging to bring a higher level of confidence and detail to the MRE which makes it more suitable for detailed mine planning.

DRA are currently working on the detailed mine plan, with a preliminary plan to be ready for the Board's investment decision in July and the final plan to be finalised during Q3 2014.

The revised MRE, detailed mine plan and CBE will all be combined into a Definitive Project Plan which is expected to be completed by Q4 2014 and filed as a NI 43-101 compliant technical report.

The contract tendering process has begun for the pre-strip component of the Nkran pit, which the Company expects to begin in Q4 2014. The pre-stripping of Nkran involves cutting back the existing pit from historical mining operations. Total pre-strip requirements are approximately 26 million tonnes of material to be moved to access the Nkran ore for the commencement of mining operations in Q3 2015. The cost of the pre-strip has been included in the Project's capital cost, as per the Company's current disclosure.

Permitting

Phase 1 of the Project is fully permitted for the commencement of construction. In early June, the Minerals Commission declared a moratorium over the expected mining and infrastructure areas. The declaration of a moratorium is an important precursor to construction activity and will establish the basis for crop compensation and land use deprivation processes to commence with the local communities. In addition, work is underway on a Resettlement Action Plan ("RAP") which will be reviewed and approved by the Ghanaian Environmental Protection Agency in Q4 2014.

The Company continues to advance the permitting required to mine both Dynamite Hill and the Phase 2 mining operations at Esaase. In early June, a Temporary Mining Permit was received for the Esaase deposit which would allow mining operations to commence at Esaase. Full environmental permitting at Esaase is ongoing.

Organisational Capability

On June 1st, the Company officially appointed Jonathan Ebo Collins as General Manager - Asanko Gold Mine. Charles Amoah, the current acting General Manager and a metallurgist, will continue with the Company as Manager - Processing. Recruitment is underway for other key operating positions as the Company continues to build its organisational capability in Ghana.

Jonathan is a Ghanaian national and a mining engineer with over 25 years of operational experience in the African mining sector. He has worked in Ghana, South Africa and Liberia, predominantly for major natural resources companies such as Xstrata Coal, Anglo American, Arcelor Mittal, Total, and Sasol. He began his career with Ashanti Goldfields, now AngloGold Ashanti, at the Obuasi mine before moving to South Africa to work in the coal industry. During his career, he has been Mine Manager and General Manager of several large coal operations with both open pit and underground mines and he has overseen projects from construction and commissioning through to operations. He has won multiple national safety awards in recognition of the outstanding safety performance of the mines under his management. Jonathan holds a Bachelor of Science and a Postgraduate Diploma in Mining Engineering and is a member of the South African Institute of Mining and Metallurgy (SAIMM).

For further information please visit www.asanko.com

About Asanko Gold Inc.

Asanko's vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. Asanko's flagship project is the fully financed, multi-million ounce Asanko Gold Mine Project located in Ghana, West Africa.

Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Forward-Looking and other Cautionary Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's annual Form 20-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note to US Investors Regarding Mineral Reporting Standards:

Asanko has prepared its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of US securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Asanko uses certain terms, such as, "measured mineral resources", "indicated mineral resources", "inferred mineral resources" and "probable mineral reserves", that the SEC does not recognize (these terms may be used in this press release and are included in the public filings of Asanko which have been filed with securities commissions or similar authorities in Canada).

Contacts:
Alex Buck, Manager - Investor Relations
Telephone: +44-7932-740-452
Email: [email protected]

Greg McCunn, Chief Financial Officer
Telephone: +1-778-729-0604
Email: [email protected]

Asanko Gold Inc.
General [email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's

The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
AppZero has announced that its award-winning application migration software is now fully qualified within the Microsoft Azure Certified program. AppZero has undergone extensive technical evaluation with Microsoft Corp., earning its designation as Microsoft Azure Certified. As a result of AppZero's work with Microsoft, customers are able to easily find, purchase and deploy AppZero from the Azure Marketplace. With just a few clicks, users have an Azure-based solution for moving applications to the...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...