GHANA – Golden Star Resources has increased its overall reserves by 6%, net of mining depletion. It offset a loss in reserves at its Prestea gold mine by adding reserves at its Wassa gold mine.
In total the company has 19.4 million proven and probable tonnes grading 2.86 g/t gold for 1.79 million oz. of gold across its Wassa and Prestea gold mines.
Its biggest loss came at the Prestea mine, where reserves decreased by 36% net of depletion. Prestea now contains 853,000 proven and probable tonnes grading 11.57 g/t gold for 317,000 oz. of gold.
It also increased reserves at its Wassa mine 23% net of depletion. Wassa now contains 18.6 million proven and probable tonnes at 2.48 g/t gold for 1.47 million oz. of gold.
It boosted reserves at Wassa underground in particular by 47% net of depletion. Wassa underground now contains 7 million proven and probable tonnes at 3.95 g/t gold for 949,000 oz.
In February 2019, the company also increased inferred resources by 93% at its Father Brown gold project in Ghana. The project now contains 2.3 million inferred tonnes at 6.4 g/t gold for 474,743 oz. of gold.
Shares of Golden Star are currently trading at $5.33 with a 52-week range of $3.24 to $5.88. The company has a $580 million market capitalization.
This story first appeared on www.NorthernMiner.com.