Market Overview

Golden Star Resources Announces Drilling Results From Wassa Mine in Ghana


Golden Star Resources Ltd. (NYSE: GSS) today provided an update on exploration activities at its Wassa mine in Ghana.

During the first quarter of 2012, exploration programs on the Wassa Mining Lease continued to delineate the higher grade shoots plunging beneath the main pits. Utilizing two rigs, the Company drilled 24 holes totaling approximately 7,300 meters. The drilling programs were designed to follow the higher grade intervals that were intercepted last year under the B Shoot pit and announced in the Company's February 6, 2012, press release. Of particular interest was hole BSDD113, which intersected 32.0 g/t gold over an estimated true width of approximately 18.1 meters.

This hole was a 25 meter step-out hole from the previous high-grade intersection in hole BSDD090, which intersected 15.8 g/t gold over a true width of 21.2 meters. These intercepts suggest a pod of mineralization that is open along strike and down dip, grading between 15 g/t and 32 g/t gold. Several parallel zones of gold mineralization have also been intersected in the hanging and foot walls of the high grade zone and include hole BSDD112, which intersected 3.2 g/t gold over a true width of approximately 9.6 meters, and hole BSDD107, which intersected 11.9 g/t gold over a true width of approximately 5.6 meters. These parallel zones of mineralization should lower the overall stripping ratio and therefore have a positive effect on economics and pit optimizations.

Posted-In: News Guidance


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