SAN JOSE, CA / ACCESSWIRE / May 18, 2022 / Guskin Gold Corp (OTCQB:GKIN) ('Guskin Gold' or the 'Company') is pleased to announce that Danampco Company Ltd. ('Danampco ') has reported to the Company that it has received a Mining Exploration Operating Permit from the Inspectorate Division of the Minerals Commission of Ghana that allows for the commencement of exploration activities of the Kukuom Gold Project.
The Kukuom Gold Project is located in Asunafo South District, Ahafo Region, and is a Joint Venture Partnership with Danampco Company whereby Guskin Gold has an exclusive seventy (70%) percent ownership interest (see Company press release dated February 1st, 2021).
The license area is 156 square kilometers and the Kukuom Gold Project is highly prospective, spatially related to major mines including Newmont's Ahafo Gold Mine (23Moz) located approximately 30km north of the Kukuom property, and Asante Gold's Chirano Gold Mine (5Moz) located approximately 45km south-southeast of Kukuom and their Bibiani Gold Mine (7Moz) located approximately 25km southeast.
Guskin Gold's Director of Exploration, Francis Lovebridge Agezo, is credited as a contributor to the discovery and development of the Chirano Mine deposits. Notably on April 25th, 2022, Kinross Gold Corp. (KGC) announced the sale of the Chirano Gold Mine for $225 Million to Canadian Asante Gold (ASE); Asante having previously acquired the Bibiani Gold Mine for $90 Million from Australian Resolute Mining (RSG) in August 2021.
The proposed exploration program is designed to assess subsurface gold mineralization on the Kukuom concession, with the goal to locate and develop an economic gold resource and undertake mining of that resource. The purpose is to identify and characterize zones of gold-bearing veins of suitable size to allow for their mining, and it is envisioned that several or numerous zones may be identified that will provide sufficient material for mining operations for many years.
Subject to funding and the upcoming work programs, the Company plans to develop Kukuom as a custom milling and direct shipping operation as it is in close proximity to major mining operations with an appreciable milling infrastructure.
Targets already exist from previous exploration work undertaken. These targets will be tested for extent and continuity beyond where they are currently known, and other targets are likely to be identified during the course of exploration. As previously reported on March 7th, 2022 by the Company reported six (6) high-priority targets, the most promising, a 2,000-meter-long geophysical anomaly directly overlain and correlating to the previously announced high-grade samples which tested up to 46.6 g/t gold.
The Kukuom Gold Property operating permit is based on the application filed in February 2022. The purpose of the exploration program is aimed at target confirmation and delineation through detailed field mapping, ground geophysics, and a 17-hole drill program. The Company aims to drill-test the gold subsurface mineralization with surface footprints of anomalous rock-chip samples, which are coincident with a high magnetic anomaly - the Kukuom Vein 54 and Vein 55 prospects; whereby the drilling is required to assess the presence of gold beneath the surface. The drilling program includes 1,400m across 17 RC holes, aims to probe the vertical or down-dip extents and grades of mineralized structures or zones revealed by anomalous rock chips samples on the surface in these main prospects.
A successful outcome may require subsequent phases to increase the detail of information and the geologic confidence sufficiently to define a mineral resource that can be developed to Canadian NI 43-101 and/or Australian JORC (2012) reporting standards. Subject to completion of this, the Company may develop a schedule and life of a mine plan to support an application for a Mining Operating Permit.
Mineralization models, additional extraction targets, and further information can be requested from Company contacts listed below and additional information is available at http://www.guskingold.com.
Scientific and technical information contained in this news release has been reviewed and approved by Francis Lovebridge Agezo, P.Geo. who is the Director of Exploration for the Company and a 'qualified person' under NI 43-101 (see 'Qualified Person Statement' below).
On behalf of the Board of Directors.
Mrs. Naana Asante
President and CEO
Qualified Person Statement
Guskin Gold's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Francis Agezo, P.Geo, the Company's Director of Exploration, and a qualified person under the definition of National Instrument 43-101.
During his career, Mr. Agezo worked for 8 years as a Geologist with the Geological Survey of Ghana, 12 years as a Senior Exploration Geologist with the UK-based Cluff Resources Ltd. and 5 years as Tenement and Geology Manager with the Red Back Mining Inc., now Kinross Gold Corp. Mr. Agezo was the co-author of West Africa's premier mineral deposit volumes 'Gold Deposits of Ghana 'published by the Ghana Minerals Commission and 'Mineral Occurrences and Exploration Potential of Northern Ghana '.
This news release was written for the Purpose of reporting on the receipt of the Company's permitting and further project advancement. The Company accepts no responsibility or liability for any use of this report or any reliance upon this report by any person, other than the use of the whole of this report by the Client consistent with the Purpose. The full report, while unpublished in this press release, must always be considered in its entirety.
About Guskin Gold Corp.
Guskin Gold Corp. (OTCQB:GKIN) is a mining company publicly traded in the United States, with its head office in Santa Clara, California. Guskin is focused on gold exploration and mining in Ghana, the number one gold producer in Africa and seventh largest gold producing country in the world. The Company's leadership team is world-class. Many are native to Ghana, all offer specialized expertise in the business of gold exploration, mining, public markets, and finance. And all are passionately committed to the success of the Company, our partners, and investors. For additional information please visit www.guskingold.com.
Forward-Looking Statements and Disclosure
This news release contains 'forward-looking statements' which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as 'anticipate', 'seek', intend', 'believe', 'estimate', 'expect', 'project', 'plan', or similar phrases may be deemed 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the exploration and exploitation of the Kukuom Concession, new mineral and/or gold projects, securing necessary financing, the future of the U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations pertaining to the mining and exploration of mineral properties in Ghana and internationally. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
SOURCE: Guskin Gold Corp.
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