Golden Star Resources, listed on the NYSE MKT, TSX and the Ghana Stock Exchange, says it has achieved commercial production at its Wassa underground gold mine (Wassa Underground) in Ghana, effective January 1, 2017.
The project construction of Wassa Underground, including the installation of all ancillary infrastructure, is essentially complete and operational, in accordance with the company's planned schedule and budget.
Portals to Wassa Underground. The project is now supplementing the open-pit production at Wassa (photo: Golden Star Resources).
Gold production is anticipated to continue to ramp up during 2017 as Golden Star's mining operations begin to access the B Shoot, which is a higher grade area of the Wassa Underground orebody. The company plans to begin longitudinal stoping of the B Shoot in the first quarter of 2017, with the larger, transverse stopes expected to be accessed in the third quarter of 2017.
Since Golden Star blasted the first stope at Wassa Underground in July 2016, the company has been mining development and stope ore in the F Shoot.
Total gold production from Wassa Underground in 2016 was 11 062 ounces, with the fourth quarter accounting for 7 865 ounces of this total. Total gold production from the Wassa Main Pit in 2016 was 93 319 ounces with 21 411 ounces of this being produced in the fourth quarter.
Sam Coetzer, President and Chief Executive Officer of Golden Star, commented: “Achieving commercial production at Wassa Underground marks the successful completion of a 17-month construction period. It is also another important milestone in our transformation into a high grade, non-refractory gold producer. Golden Star also anticipates that it will benefit from Wassa Underground's lower cost production, as a result of the higher grade ore being fed into the Wassa processing plant. I want to thank our project construction team for their outstanding efforts as Wassa Underground was constructed safely, on schedule and within our capital budget.”