- The Tepa Gold Mine is located in the prolific Sefwi-Bibiani Gold Belt
- All mining equipment and machinery are on site being serviced for upcoming operations
- Work crews are preparing site for open pit operations
SAN JOSE, CA / ACCESSWIRE / June 27, 2022 / Guskin Gold Corp. (OTCQB:GKIN) ("Guskin Gold" or the "Company"), operators of the Tepa Gold Mine located along the eastern-edge of the highly renowned Sefwi-Bibiani Gold Belt, are pleased to announce delivery of all mining and heavy equipment to the property.
As previously announced on February 8, 2022, the Company entered into a Joint Venture and Partnership Agreement with Ensuro Group of Companies Limited ("EGCL") for the exploration, development, exploitation, commercial production, and operations of the Tepa gold project. Per the Joint Venture Agreement EGCL granted Guskin Gold Ghana an exclusive seventy percent (70%) ownership interest in the Tepa 50-acre property for the purpose of commercially producing alluvial gold.
The Company completed an economic feasibility study in February 2022 and concluded Tepa provided a profitable alluvial mining operation. The geologic nature of the Tepa deposit includes both alluvial and eluvial gold deposits. The gold is of fine to medium grain with few flowery and floating types. The distribution of the gold is found in the overlying silty sand as well as the underlying gravel horizons. The overlying silty sands are all part of the payload to be washed and can be processed for gold.
Figure 1 Mrs. Naana Asante, CEO, Guskin Gold
The mining equipment includes two high-efficiency Sany excavators, two wash plants, shaker and gravity table, generators, water pumps, piping, and all necessary gear to begin production and processing.
Personnel, currently numbering thirty-two (32), and under the leadership of Mr. Peter Tomety, Guskin Gold's Mine Manager, includes a cross-disciplinary team of heavy equipment operators, geologists, field crews, security teams, and support members including community relations, and health and safety.
Construction of housing, offices, and support buildings is also nearing completion.
Mr. Tomety, states "We are pleased to report all equipment and personnel have arrived safely on site. We are assembling and performing routine maintenance on all machinery and reviewing mine safety and operation protocols and procedures with our team - many of whom are local miners we are pleased to welcome to the Guskin family. I am excited to launch operations and create a highly productive, efficient, and safe working environment."
Figure 2 Guskin field operators wield water intake pipes in preparation for heavy use.
Mrs. Naana Asante, CEO of Guskin Gold, overseeing the opening of the mine stated "A solid and commercial resource has been established and we are almost ready to start gold production on this project. I am confident in our team, pleased with their progress, and believe we can begin operating a highly profitable mine and add significant value to the community, our partners, and our shareholders."
"This project further solidifies Guskin Gold's role as a premier partner in Africa's number one mining region and demonstrates our model - mining alluvial gold for cash flow to provide operation and exploration funds for our hard rock Kukuom property project, the crown jewel in our portfolio and a highly coveted prospect." Mrs. Asante continues, "Strong gold prices continue to underpin our value proposition and growth potential. Cash flow from Tepa will sustainably help us continue to grow the Company and reward our shareholders and the communities in which we operate. I am very proud of our growing team and look forward to keeping our valued shareholders informed."
About Guskin Gold Corp.
Guskin Gold Corp. (OTCQB:GKIN) is a mining company publicly traded in the United States, with its head office in Santa Clara, California. Guskin is focused on gold exploration and mining in Ghana, the number one gold producer in Africa and seventh largest gold producing country in the world. The Company's leadership team is world-class. Many are native to Ghana, all offer specialised expertise in the business of gold exploration, mining, public markets, and finance. And all are passionately committed to the success of the Company, our partners, and investors. For additional information please visit www.guskingold.com.
Qualified Person Statement
Guskin Gold's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Francis Lovebridge Agezo, P.Geo, the Company's Director of Exploration, and a qualified person under the definition of National Instrument 43-101. This news release was written for the Purpose of reporting on the opening of the Company's Tepa Gold Mine. The Company accepts no responsibility or liability for any use of this report or any reliance upon this report by any person, other than the use of the whole of this report by the Company consistent with the Purpose. The full report, while unpublished in this press release, must always be considered in its entirety.
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Forward-Looking Statements and Disclosure
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the exploration and exploitation of the Kukuom Concession, new mineral and/or gold projects, securing necessary financing, the future of the U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations pertaining to the mining and exploration of mineral properties in Ghana and internationally. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
SOURCE: Guskin Gold Corp.
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