Asante Provides Operations and Corporate Update - Seite 3

A National Instrument 43-101 technical report (“NI 43-101”) is advanced to verify results of all initiatives noted above. This report is planned to be issued in April 2024.  

Operations Update – Chirano Mine

Chirano open pit operations continue to be focused at Sariehu and Mamnao South pits, with extension of Mamnao North starting in February 2024. Underground mining continues at Akwaaba, Akoti, Tano, Suraw and Obra mines.

Chirano is focused on increasing gold production and reducing unit operating and sustaining capital costs through the following initiatives:

• The gravity recovery plant was completed and commissioned in December 2023. Operation and optimization continues, with very positive results to date;
  
• Oxygen plant construction for supply of oxygen to the carbon-in-leach (“CIL”) process was completed in December 2023 reducing operating costs and increasing gold recovery. Installation of a Maelgwyn Aachen Reactor will proceed this quarter to improve mineral shear and leach kinetics;
  
• A pebble crusher was installed on schedule in 2023 and throughput capacity has increased from 3.4Mt/y to 3.7Mt/y. Further primary grinding upgrades, including CIL plant agitators, pump upgrades and cyclone replacement to improve grind size control are planned to be operational by April 2024 with the aim of increasing process plant metallurgical performance and throughput from 3.7Mt/y to 4.0Mt/y;
  
• Relocation of minor infrastructure and facilities, planned to provide access to and expansion of the Akoti South open pit, will be undertaken this year;
  
• The second cutback at the Sariehu open pit is progressing well and delivering as planned;
  
• Mining from the Mamnao Central and South pits has been cut back with stripping operations ongoing. Gold production from these areas has been replaced by Sariehu, followed by Obra pit and Mamnao North pit;
  
• Studies and associated initiatives are progressing on schedule to be finalized by April 2024, with designs to improve the current material handling systems at the northern mines, to deliver mineralized material to the process plant in a reliable and cost-effective manner. This initiative will support extension of mining depth and LOM;
• Development of Obra (wide orebody), Suraw and the lower Tano underground mines is progressing to plan and remains the operational focus, while developing Tano and Akoti south mines to create a more robust mining program;
• The Company is committed to invest a minimum of US$9 million per year in near mine and regional exploration over the next three years with intention to increase Chirano’s LOM to 10+ years;