Golden Star Increases Confidence in Prestea Underground West Reef High Grade Gold Deposit
DENVER - Golden Star Resources Ltd. has announced an update on the exploration results for the Prestea Underground on our Bogoso/Prestea property in Ghana.
Golden Star acquired access to the Prestea Underground in 2002, an area that has been historically mined for more than 100 years by a number of mining companies. Past production totals in excess of 9 million ounces of gold from an area that extends over a strike length of about seven kilometers on the Ashanti Trend and was mined down to about a maximum depth of about 1,400 meters over a portion of that strike length. Since acquiring this property, Golden Star has carried out the first comprehensive compilation of past activities at Prestea and is doing the first ever coordinated modern exploration program on this section of the Ashanti Trend.
As disclosed in our press release of February 14, 2007 the total Prestea Underground Mineral Resource now stands at 1.1 million tonnes of Indicated Mineral Resource grading 16.30 grams per tonne (g/t) gold and 5.0 million tonnes of Inferred Mineral Resource grading 8.68 g/t gold. The following update provides greater detail on some of the Mineral Resources contained within this estimate.
The West Reef is a steeply dipping laminated quartz vein within a graphitic shear zone running sub-parallel to and in the hangingwall of the Prestea Main Reef.
As at December 31, 2006, we upgraded a portion of the West Reef Mineral Resource to an Indicated Mineral Resource of 0.86 million tonnes grading 18.3 g/t gold for 507,000 contained ounces of gold. In addition, we have an Inferred Mineral Resource of 0.51 million tonnes grading 11.6 g/t gold. The updated Mineral Resource estimates for the West Reef were based on results from nine additional drill holes, additional QA/QC and improved geostatistical grade interpolation parameters.
This additional work increased our confidence in the West Reef estimates and enabled Golden Starís consultants to upgrade the classification of a portion of the Mineral Resource as stated in our August 16, 2006 press release to an Indicated Mineral Resource. A review of the screen fire assay QA/QC on duplicate samples of the original 50 gram charge fire assay results has determined that the original fire assay results are valid and may, in fact, be slightly conservative, hence giving more confidence in the original drill hole results used in the August 2006 mineral resource estimate. Increases in the grade estimates of the West Reef are mostly attributable to the better orientation of the grade interpolation search ellipse as defined by the improved geostatistical modeling. This change in the direction of the ellipse has meant the higher grade drill hole intercepts have been used for grade estimation along the defined northerly plunging high grade pay shoot.
Several additional drill holes were also used for the West Reef Mineral Resource update and significant results from these holes are tabulated below. These holes drilled from the 24 Level targeted the down plunge extension of the West Reef shoot and have confirmed the zone still plunges north and is open at depth below the 24 Level.
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