Golden Star drills 19 metres of 4.6 g/t gold at Wassa, Ghana; shares up

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Golden Star Resources Ltd. [GSC-TSX; GSSA-NYSE American; GSR-Ghana] provided an update on the continued drilling programs within its 90%-owned Wassa mining concession in Ghana where there are currently three surface diamond drill rigs working. The Ghana government has a 10% carried interest.

Two of the surface rigs continue to test the up and down dip extensions of the current and planned reserve infrastructure and the third rig is infill drilling the Panel 3, B-Shoot upper area (Upper Mine) (within mineral reserve) ahead of planned development in 2023.

Up-Dip Drilling – Two drill holes were collared 50 metres north and south of the initial up-dip extension hole BSDD20-003 which intercepted 20.9 metres at 6.9 g/t gold and successfully extended the B-Shoot structure 125m up-dip.

Hole BSDD21-010, drilled 50 metres to the south of BSDD20-003, intersected 19.0 metres at 4.6 g/t gold. Hole BSDD21-013, drilled ~50 metres to the north, intersected numerous zones of mineralization, including 4.1 metres grading 7.9 g/t gold, 12.1 metres grading 4.8 g/t, 3.0 metres grading 8.5 g/t and 4.3 metres grading 11.0 g/t gold. The expedited drilling of this up-dip target is therefore quickly delivering an expansion of the B-Shoot structure adjacent to planned reserve infrastructure.

Down-Dip Drilling – A previously unknown hanging wall zone has been identified in some of the holes targeting down-dip mineralization, with the best intersection coming from BSDD21-015M which intersected 9.1 metres grading 4.5 g/t gold.

Near-Mine Drilling – Testing below the old SAK open pits has also intersected a significant zone which will require further follow up. SAKDD21-004 intersected 8.3 metres grading 4.2 g/t gold.

Upper Mine Infill – Infill definition drilling has confirmed the presence of higher-grade mineralization. BSU21-829-01 intersected 12.1 metres grading 9.0 g/t gold and BSU21-820-03 returned 17.1 metres grading 8.8 g/t gold. These results show grades higher than reserve grade for this area.

The results of the 2021 exploration and infill drilling program will be included in the 2021 year end mineral resource update that is expected to be completed in Q1 2022. Some of the targets are expected to be assessed for inclusion in the mineral reserve.

Andrew Wray, President and Chief Executive Officer of Golden Star, commented: “We are pleased to report positive progress being made on the drilling programs as part of the exploration and infill drilling initiatives. The exploration team has moved quickly to follow up on the recent up-dip and down-dip drilling success with further drilling to test the continuity of a new up-dip zone. Drilling in Q3 2021 was aimed at further testing of this target with the ambition of delineating a resource in the 2021 year-end resource update.

The mine geology team has also made positive progress with the infill drilling of the Upper Mine resource area. The confirmation of a higher-grade zone within this reserve area further focusses our attention on the drilling and development of this new production area, with the aim of advancing development from 2023.”

In October 27 trading shares of Golden Star gained $0.42 to $3.88 on a volume of 18,700 shares traded.


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