Golden Star Announces Continuing Exploration Success New High-Grade Zones Identified in Buesichem North; Exploratory Drilling at Wassa Expected to Expand Resource Inventory
New High-Grade Zones Identified in Buesichem North; Exploratory Drilling at Wassa Expected to Expand Resource Inventory
DENVER, CO -- (Marketwire) -- 09/15/11 -- Golden Star Resources Ltd. (NYSE Amex: GSS) (TSX: GSC) (GHANA: GSR) ('Golden Star' or the 'Company') today announced an update on its exploration activities in Ghana.
The Company's exploration drilling programs in Ghana continued during the second quarter with three drill rigs operating at the Bogoso/Prestea concessions and four operating at the Wassa/HBB concessions. On the Bogoso/Prestea concessions, 11,900 meters (m) of infill and expansion drilling at the Buesichem South and Bogoso North deposits were completed. On the Wassa/HBB concessions, 22,818m of drilling focused on the new exploration targets at Wiredukrom North, the southern extension of Wassa Main, infill drilling at Wassa Main, and Father Brown underground targets.
Bogoso/Prestea Concessions:
Buesichem and Beposo:
Drilling at the Buesichem North Pit ramp delineated a higher grade shoot of gold mineralization with several drill intersections of the main shear zone in excess of 25m (true thickness) with grades of up to 4 grams per tonne (g/t) gold. This area was not drilled thoroughly in the past due to its location on the haulage ramp accessing the Buesichem Main orebody. With the completion of this stage of the overall Buesichem Pit development, it was possible to move the drill onto the ramp to complete this planned drilling. The following table outlines significant drill results for the second quarter from the Buesichem North Pit ramp:
Buesichem North Pit Ramp - Significant Drill Intersections
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HOLE ID From (m) To (m) ~ True Grade Au Comments
Width (m) (g/t)
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BUVTRC083 79.0 106.0 25.4 2.7 Including 11m @ 5.2g/t
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BUVTRC084 88.0 113.0 20.5 3.5
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BUVTRC085 66.0 97.0 29.1 4.1 Including 3m @ 11.5g/t
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BUVTRC086 71.0 98.0 23.4 4.8 Including 10m @ 7.8g/t
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BUVTRC088 83.0 97.0 10.4 3.8 Including 7m @ 5.7g/t
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BUVTRC089 51.0 72.0 18.2 4.0 Including 7m @ 6.1g/t
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BUVTRC090 52.0 76.0 18.4 3.5 Including 14m @ 5.0g/t
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BUVTRC091 42.0 65.0 21.6 4.3 Including 16m @ 5.4g/t
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BUVTRC096 27.0 47.0 15.5 3.4
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BUVTRC097 17.0 40.0 18.8 3.4
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BUVTRC098 51.0 66.0 12.3 3.4
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BUVTRC100 90.0 111.0 19.0 3.3 Including 5m @ 6.8g/t
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BUVTRC101 13.0 47.0 25.3 3.3
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BUVTRC102 28.0 51.0 21.5 3.2
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BUVTRC104 36.0 61.0 19.2 3.1 Including 9m @ 4.7g/t
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BUVTRC105 27.0 56.0 27.1 2.2 Including 5m @ 4.1g/t
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BUVTRC106 46.0 74.0 26.3 2.7 Including 4m @ 5.4g/t, 3m
@ 6.0g/t
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BUVTRC107 10.0 30.0 18.8 4.3 Including 6m @ 6.8g/t
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Mitchel Wasel, Vice President of Exploration, commented, 'This shoot beneath the Buesichem North Pit ramp shows the potential of developing new high grade zones within this mature mining area. The area tested appears to be the northern extent of the Main Buesichem plunging shoot. The Buesichem North, Buesichem Main and Buesichem South high grade ore shoots remain open at depth.'
In addition, delineation drilling continued to the north and south of the Buesichem area, including beneath previously mined oxide pits and testing the plunge at depth to the south. The down plunge drilling confirms that mineralization continues below the resource pit shells. Drilling below the previously mined Beposo oxide pit (located along the Ashanti Trend immediately to the south of the Buesichem South deposit) has confirmed sulfide mineralization with drill intercepts averaging 1.5 to 2.0 g/t. The results of this drilling are expected to assist in upgrading the previously announced inferred resources at Beposo to the indicated category. Significant drill results at Buesichem South for the second quarter are tabulated below:
Buesichem South Significant Drill Intersections
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HOLE ID From (m) To (m) ~ True Grade Au Comments
Width (m) (g/t)
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BUVTDD183A 239.0 243.0 3.1 14.9 Including 2m @ 25.2g/t
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BUVTDD184 109.0 129.5 15.0 3.8 Including 6m @ 6.8g/t
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BUVTDD185 212.0 221.1 7.9 3.7
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BUVTDD186 175.6 190.0 12.5 4.1 Including 4.4m @ 7.5g/t
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BUVTDD187 282.0 309.0 23.4 3.6 Including 2.1m @ 21.6g/t
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BUVTDD188 314.0 322.0 6.4 2.6
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BUVTDD189 212.9 225.4 8.7 2.6 Including 4m @ 4.8g/t
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BUVTDD191 263.0 280.0 13.9 4.0 Including 7.15m @ 4.8g/t
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BUVTRC109 56.0 65.0 8.2 2.5 Including 3m @ 4.9g/t
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BPSVTRC008 37.0 48.0 10.3 3.4
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BPSVTRC008 53.0 60.0 6.6 7.3
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BPSVTDD016 172.4 188.0 14.1 2.1
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Bogoso North:
Drilling results at Bogoso North thus far have confirmed the two parallel zones as interpreted in the 2010 year end resource model and are expected to add confidence to this inferred resource, possibly resulting in conversion to the indicated category at the end of 2011. The following table sets forth the significant drill results for the second quarter from Bogoso North:
Bogoso North Significant Drill Intersections
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~ True Grade Au
HOLE ID From (m) To (m) Width (m) (g/t) Comments
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BNVTDD028 135.6 139.5 3.9 6.1
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BNVTDD028 193.0 200.0 7.0 3.4
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BNVTDD028 224.9 234.0 9.1 2.2
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BNVTDD029 129.5 134.0 4.5 2.8
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BNVTDD030 161.7 165.9 4.0 2.3
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BNVTDD030 232.0 253.9 21.2 2.5
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BNVTDD031 153.0 155.0 2.0 8.4
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BNVTDD034 216.0 225.0 8.9 3.3 Including 6m @ 6.1g/t
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Wassa/HBB Concessions:
Wassa:
During the second quarter, exploration programs on the Wassa Mining Lease continued to test the mineralized trends south of the 419 pit, Nsa and South East zones (within 3 kilometers (km) of the Wassa Processing Plant) and delineate the higher grade shoots plunging beneath the current planned pits. Drilling utilized one reverse circulation (RC) rig and two multipurpose rigs and achieved over 15,000m of drill core.
Drilling south of the 419 pit has extended the known mineralization approximately 1,200m from the last reserve pits. The drilling program intersected mineralization of similar widths and grades as those being mined a short distance away at Wassa Main. This latest drilling program is expected to expand the resource/reserve inventory at Wassa and increase the life of Wassa mine. Significant results south of the Wassa Main pit are summarized in the table below:
Wassa Main Significant Drill Intersections - South Strike Extension
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Hole ID From (m) To (m) ~ True Gold Grade
Width (m) g/t
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NSARC128 32.0 37.0 3.8 3.2
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NSARC129 4.0 8.0 3.1 2.7
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NSARC129 23.0 26.0 2.3 4.3
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NSARC130 29.0 31.0 1.5 18.9
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NSARC144 35.0 48.0 10.0 2.1
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NSARC144 110.0 117.0 5.4 2.4
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NSARC147 1.0 15.0 11.5 1.1
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NSARC157 26.0 40.0 10.7 1.6
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NSARC167 23.0 27.0 3.1 2.5
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NSARC169 71.0 76.0 3.8 3.3
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NSARC177 89.0 97.0 6.1 1.9
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NSARC178 44.0 54.0 7.7 1.7
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The deeper drilling beneath the Wassa pits is continuing to return higher grades with depth. The Wassa orebodies are defined by several higher grade zones which have been interpreted to be associated with early fold hinges. These hinge zones concentrate the gold grades as well as thicken the mineralized zones in the area of closure. Pit optimizations, including these higher grades in the fold closures, show the pits deepening. At gold prices of $1500/oz or higher, the pit shells bottom out with drilling, therefore deeper drilling is warranted. The following table shows significant drilling results for the down dip extension at Wassa Main:
Wassa Main Significant Drill Intersections - Down Dip Extension
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Hole ID From (m) To (m) ~ True Gold Grade
Width (m) g/t
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BSDD079 330.6 353.0 17.2 2.6
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BSDD079 358.0 369.4 8.7 6.9
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BSDD080 382.0 385.1 2.4 4.3
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BSDD082 179.0 182.0 2.3 11.3
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BSDD083 243.0 251.0 6.1 10.5
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BSDD084 241.0 249.0 6.9 3.7
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BSDD084 291.0 300.4 8.1 3.4
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BSDD085 367.3 373.3 4.6 3.3
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BSRC062 117.0 134.0 13.0 5.8
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242RC069 99.0 108.0 8.2 2.8
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242DD027 91.0 126.6 29.5 1.3
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SERC189 45.0 54.0 6.9 2.2
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SERC191 54.0 61.0 6.1 1.6
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SEDD024 98.8 148.3 37.9 2.5
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SEDD025 70.0 98.6 21.9 1.3
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Tom Mair, President and CEO, commented, 'The more we drill the Wassa deposits, the greater understanding we gain of the complex nature of the orebody. We are seeing the orebody expand in all directions with our drill programs and are confident the life of Wassa mine will extend well into the future.'
Wiredukrom North:
During the second quarter, approximately 3,000m of RC drilling was completed on the Wiredukrom North gold target (located approximately 2km from the Wassa/HBB haul road and 9km from the Benso mining area). The style and geometry of gold mineralization is not yet fully understood and once the seasonal rains subside, another phase of drilling is scheduled to be conducted on this target. The significant results at Wiredukrom North are tabulated below:
Wiredukrom North Significant Drill Intersections
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Hole ID From (m) To (m) ~ True Gold Grade
Width (m) g/t
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WKNRC 025 0.0 19.0 14.6 2.3
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WKNRC 026 56.0 63.0 5.4 5.1
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WKNRC036 19.0 22.0 2.3 5.1
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WKNRC037 42.0 56.0 10.7 4.2
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COMPANY PROFILE
Golden Star Resources holds the largest land package in one of the world's largest and most prolific gold producing provinces. The Company holds a 90% equity interest in Golden Star (Bogoso/Prestea) Limited and Golden Star (Wassa) Limited, which respectively own the Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana, West Africa. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in Brazil in South America. Golden Star has approximately 259 million shares outstanding. Additional information is available at www.gsr.com.
Cautionary Note to US Investors concerning estimates of Measured, Indicated and Inferred Mineral Resources: US investors are advised that while the term 'Measured, Indicated and Inferred Mineral Resources' are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. 'Inferred Mineral Resources' have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules estimates of Inferred Mineral Resources could not form the basis of feasibility or other economic studies. US investors are cautioned not to assume that part or all of the Inferred Mineral Resource exists, or is economically or legally mineable.
Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Such statements include our expectations regarding our planned drilling and exploration activities for the remainder of 2011 and the timing thereof; the potential impact of our results of exploration on our reserves and resources and on mine life; the timing of submitting samples for testing and for receiving the results of testing; and updates of our resource models. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these and other factors in our Form 10-K for 2010. The forecasts contained in this press release constitute management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake any estimate at any particular time or in response to any particular event.
QA/QC:
The technical contents of this press release have been reviewed by S. Mitchel Wasel, BSc Geology, a Qualified Person pursuant to National Instrument 43-101. Mr. Wasel is Vice President of Exploration for Golden Star and an active member of the Australasian Institute of Mining and Metallurgy.
The results for Wassa/HBB quoted herein are based on the analysis of saw-split HQ/NQ diamond half core or a three kilogram single stage riffle split of a nominal 25 to 30 kg Reverse Circulation chip sample which has been sampled over nominal one meter intervals (adjusted where necessary for mineralized structures). Sample preparation and analyses have been carried out at SGS Laboratories in Tarkwa using a 1,000 gram slurry of sample and tap water which is prepared and subjected to an accelerated cyanide leach (LEACHWELL). The sample is then rolled for twelve hours before being allowed to settle. An aliquot of solution is then taken, gold extracted into Di-iso Butyl Keytone (DiBK), and determined by flame Atomic Absorption Spectrophotometry (AAS). Detection Limit 0.01ppm.
The results for Bogoso/Prestea herein are based on the analysis of saw-split HQ sized (64mm) diamond half core or a three kilogram single stage riffle split of a nominal 25 to 30 kg Reverse Circulation chip sample which has been sampled over nominal one meter intervals (adjusted where necessary for mineralized structures). Sample preparation and analyses have been carried out at SGS Laboratories in Tarkwa using a 50 gram assay charge with a flame Atomic Absorption Spectrophotometry (AAS) finish and a detection limit of 0.01 ppm.
All analytical work is subject to a systematic and rigorous Quality Assurance-Quality Control (QA-QC). At least 5% of samples are certified standards and the accuracy of the analysis is confirmed to be acceptable from comparison of the recommended and actual 'standards' results. The remaining half core is stored on site for future inspection and detailed logging, to provide valuable information on mineralogy, structure, alteration patterns and the controls on gold mineralization.
For information regarding our mineral reserves and mineral resources as at December 31, 2010, please see our news release dated February 23, 2011.
For further information, please contact:
GOLDEN STAR RESOURCES LTD.
1-800-553-8436
Bruce Higson-Smith
Vice President Corporate Development
INVESTOR RELATIONS
Jay Pfeiffer or Geoff High
Pfeiffer High Investor Relations, Inc.
303-393-7044