Current Gold Price (USD): £0.00
5-Year Change: 88.05%
Current Gold Price (USD): £0.00
5-Year Change: 88.05%
The Bogoso Prestea Property is located in western Ghana approximately 200km by road from the capital Accra and 50km from the coast of the Gulf of Guinea. Bogoso and Prestea comprise a collection of adjoining mining concessions that together cover a 40km section of the Ashanti gold district in the central eastern section of the Western Region of Ghana, with the processing facilities situated approximately 10km south of the town of Bogoso. Blue Gold owns the rights to mine both the Bogoso and Prestea concessions. Mining has been ongoing in the area since the late 18th Century, initially underground and more recently from a series of open pit operations mining both oxide and refractory material. Future production from the mine will be sourced from both the Prestea Underground operation and from expansion of the historic open pits located within the concession.
The Property is in an area where mining has occurred more or less continuously since the late 1800s, so local skilled mine workers are readily available. Equally, the area is well serviced by the public road network, mains electricity, water supply, and the immediate area can support tailings storage, waste rock disposal, heap leach pad areas, and potential processing plant expansion.
The Bogoso and Prestea in-situ deposits are located on the 250km long northeast trending, Ashanti Belt, a Paleoproterozoic granitoid-greenstone assemblage in southwest Ghana. These greenstone belts and dividing sedimentary basins were formed and deformed during the Eburnean orogeny. The Prestea-Bogoso area occurs at the southern termination of the Ashanti Belt, where the gold deposits, mined or under exploration, are localised principally along two steep to subvertical major crustal structures referred to as the Ashanti trend and the Akropong trend. The principal structures are graphitic shear zones and mineralised fault filled quartz veins.
The mine site includes an extensive underground mine complex, open pit mine, oxide CIL plant, refractory sulphide plant, wate rock dumps, tailings management facilities, and associated mine site infrastructure. However, all operations at the Bogoso Prestea Project are currently suspended. A core feature of Blue Gold’s immediate strategy is to restart mining.
Currently, there is a robust Mineral Resource prepared by an independent QP for a total of 79.6Mt at 2.08g/t Au in the Measured and Indicated classification plus a further 12.2Mt at 2.31g/t Au of Inferred resources. Blue Gold holds a significant license with a 44 km strike that has shown promising exploration results for future resource expansion.
The ongoing exploration at Busichem East is focused on expanding the oxide ore resource, aiming to increase the total by more than 500,000 ounces. Blue Gold is advancing plans to expand the underground and refractory ore bodies below levels 24 and 17, which could add an additional 500,000+ ounces to the resource.
The Prestea North & South areas show potential for a shallow underground mine along a 10 km strike on a proven reef system. This area has been previously mined at deeper levels.
The Prestea project includes the development of five potential portals, each estimated to contain over 500,000 ounces, contributing up to a cumulative 2.5 million ounces.
