• Asante Gold allocates $6.4M to explore Chirano, Bibiani mines

• Drilling targets expansion, new deposits through 2026

• Exploration supports plan to hit 500K oz output by 2028

Asante Gold has set aside more than C$9 million (US$6.4 million) to step up exploration at its Chirano and Bibiani gold mines in Ghana, the company said Monday.

 The funds come from a C$500 million financing package secured earlier this year to advance mine development.

“We completed our $500M financing initiative in August 2025.  More than $9M of this financing has been allocated to each of Chirano and Bibiani, to accelerate near mine exploration in 2025 and support long term planning of mining activities and gold production,” said CEO Dave Anthony.

Exploration programs are underway at both sites and will continue through 2026. At Chirano, work will focus on expanding existing resources and testing new targets at the Obra, Sariehu, Suraw, and Mamnao North deposits. About 15,000 meters of drilling are planned for the rest of 2025.

At Bibiani, the program centers on discovering new deposits at the Little Mug and Asempaneye prospects. Another 25,000 meters of drilling are scheduled for the first half of 2026, adding to the 19,000 meters already completed since the start of this year.

 The results will feed into a resource update for both mines, expected by April 2026.

The exploration drive is central to Asante’s strategy to extend the life of its two Ghana operations and reach mid-tier gold producer status in West Africa, targeting annual output of 500,000 ounces by 2028.

Despite uncertainty around exploration outcomes, Asante continues to advance its expansion plans. Last week, the company commissioned a new sulfide plant at Bibiani, part of an infrastructure upgrade to boost processing capacity.

 Before reaching its 2028 goal, Asante projects total production of up to 350,000 ounces in 2025, up from 189,600 ounces combined at the two mines last year.

Aurel Sèdjro Houenou

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19-06-2025 Asante Gold seeks $470 million to scale up production in Ghana

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