(Ecofin Agency) - Ashanti Gold Corp. announced yesterday April 25, a new 10, 000 m drilling campaign which will begin next month at its gold project Kossanto East (Mali). During this campaign, the company will be drilling 8, 000 m of reverse circulation holes and 2, 000 m of diamond holes.

The goal is to provide sufficient information to develop a strong geological interpretation and a mineral resource estimate which are set to be complete in Q3, 2018. 

According to the CEO, the drilling campaign will be funded through a fundraising closed earlier this week. “Now that we have closed our increased-size placement to fund this drill program, we are wasting no time in putting shareholder funds to work. This is a very exciting period for Ashanti’s development,” he said.

Let’s recall that the company became last August the sole owner of Kossanto East project after it acquired its then-partner Alecto Minerals’ share. This project is, with Kossanto West, part of the big Kossanto gold project which exploits 3 mining licenses and covers a total of 203 km². 

Louis-Nino Kansoun