Golden Star Resources Ltd.
TSX : GSC
NYSE Amex : GSS

Golden Star Resources Ltd.

February 01, 2010 09:54 ET

Golden Star Drills High Grade Gold Zones Beneath Benso Pit

DENVER, COLORADO--(Marketwire - Feb. 1, 2010) - Golden Star Resources Ltd. (TSX:GSC)(NYSE Amex:GSS)(GSE:GSR) today provided an update on the continuing exploration of its Benso concession in Ghana.

During 2009, 88 diamond drill holes were completed totaling 8,250 meters. This drilling was successful in extending mineralized zones along strike and down dip of the current mining areas. Resource models are being updated with the results from this new drilling and mineral reserves and mineral resource estimates are expected to be updated for the Benso area in the second half of 2010. Results and maps are available on the Company's website, www.gsr.com.

The previously reported hole SWZDD016, located at the north end of the Subriso West ("SW") pit and below the current pit design, intersected several zones of economic gold mineralization. Of particular note was an intersection at a drilled depth of 167 meters of 19 meters grading 3.6 g/t (grams per tonne) gold with a central core of 7 meters grading 6.5 g/t gold. This demonstrated that the high-grade mineralization continued at depth and could potentially support underground mining.

In 2009, five drill holes totaling 1,650 meters were drilled to further test this high grade zone. Hole SWZDD026 intersected three parallel zones beginning at a drilled depth of 161 meters including a 5 meter drilled width intercept of 26 g/t gold. Drill hole SWZDD030, targeted the new zone 100 meters along strike and intersected the high grade zone at a depth of 336 meters yielding 11.4 meters at 6.6 g/t gold including 4.4 meters grading 12.2 g/t gold. We continue to test this high grade target zone down dip and along strike.

Infill holes are tabulated below.

2009 Subriso West Deep Target Drill Results

Hole ID E N RL Azm Dip Hole Depth (m) From (m) To (m) Interval (m) ~ True Width (m) Gold Grade (g/t) Zone
SWZDD026 175078 58733 1054 40 -56 251.5 161.0 162.0 1.0 0.8 10.9 HWZ
          -55   215.0 220.0 5.0 3.8 26.1 Main
          -55   235.0 240.0 5.0 3.8 3.1 FWZ
SWZDD027A 175053 58666 1061 40 -45 341.0 262.0 264.0 2.0 1.7 2.0 MZ
SWZDD028 175053 58703 1060 40 -58 357.0 242.0 248.0 6.0 4.4 10.1 HWZ
          -58   285.0 291.0 6.0 4.4 2.4 MZ
          -55   320.0 321.5 1.5 1.1 11.2 FWZ
SWZDD029 175041 58727 1060 40 -61 331.7 259.0 265.0 6.0 4.2 2.3 HWZ
          -60   305.8 310.8 5.0 3.5 3.5 MZ
          -60   316.8 327.3 10.5 7.4 3.7 FWZ
          -60 Including 316.8 321.8 5.0 3.5 4.4  
SWZDD030 175013 58771 1059 40 -57 375.0 335.6 347.0 11.4 8.5 6.6 MZ
          -57 Including 336.6 341.0 4.4 3.3 12.2  
          -55   361.0 364.0 3.0 2.3 3.2 FWZ

Note: True widths are based on the assumption the mineralized zones are dipping approximately -75 degrees to the South West. Drillhole dips are taken from the down hole orientation surveys close to the mineralized zones.

MZ = Main zone that is the central zone of gold mineralization; HWZ = Upper hanging wall zone in relation to the Main Zone; FWZ = Lower foot wall zone in relation to the Main Zone.

The mineralization at Subriso West is associated with sheared feldspar porphyries and intermediate to mafic volcanic packages. The zone strikes northwesterly and dips at high angles to the west with the high grade shoot plunging steeply to the north-northwest. Further drilling is underway to determine the exact orientation of this plunging zone and the extents of the high grade gold mineralization. Gold mineralization is associated with silicification and disseminated sulfides with visible gold being observed in the higher grade portions. This material is similar to what is being mined in the Subriso West pit and being trucked to our Wassa plant approximately 50 kilometers to the north on our existing haul road.

Mitchel Wasel, Vice President, Exploration, commented that, "The drilling of this high grade shoot has produced some excellent results that should positively affect the next optimized pit shells and subsequent pit designs. The grades and thicknesses drilled thus far also exhibit widths and grades that could be amenable to underground mining."

Drilling was also conducted north of Subriso East ("SE") on the Benso concession. The mineralized zones have been extended for approximately 125 meters to the north of the existing pit. Recent ground geophysics has identified a strong chargeability anomaly further north of this drilled zone at SE potentially extending the zone by another 1,200 meters.

In addition to the step-out drilling conducted on the SE and SW zones, in-fill drilling was completed at the I zone where sufficient drilling information has now been obtained to convert the existing inferred mineral resource of approximately 200,000 tonnes grading 3.2 g/t gold to the indicated mineral category.

QAQC

The technical contents of this press release have been reviewed by S. Mitchel Wasel, BSc Geology, a Qualified Person pursuant to Canada's National Iinstrument 43-101. Mr. Wasel is Vice President Exploration for Golden Star and an active member of the Australasian Institute of Mining and Metallurgy. The results quoted herein are based on the analysis of saw-split diamond half core or a three kilogram single stage riffle split of a nominal 25 to 30 kg Reverse Circulation chip sample which has been sampled over nominal one meter intervals (adjusted where necessary for mineralized structures). Sample preparation and analyses have been carried out at SGS Laboratories in Tarkwa using a 1,000 gram slurry of sample and tap water which is prepared and subjected to an accelerated cyanide leach. The sample is then rolled, an aliquot of solution is then taken, gold extracted, and determined by flame Atomic Absorption Spectrophotometry AAS. All analytical work is subject to a systematic and rigorous Quality Assurance-Quality Control (QA-QC). At least 5% of samples are certified standards and the accuracy of the analysis is confirmed to be acceptable from comparison of the recommended and actual 'standards' results. The remaining half core is stored on site for future inspection and detailed logging.

COMPANY PROFILE

Golden Star holds a 90% equity interest in Golden Star (Bogoso/Prestea) Limited and Golden Star (Wassa) Limited, which respectively own the Bogoso/Prestea and Wassa open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America. Golden Star has approximately 257 million shares outstanding.

Cautionary Note to US Investors concerning estimates of Measured, Indicated and Inferred Mineral Resources: US investors are advised that while the term "Measured, Indicated and Inferred Mineral Resources" are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules estimates of Inferred Mineral Resources could not form the basis of feasibility or other economic studies. US investors are cautioned not to assume that part or all of the Inferred Mineral Resource exists, or is economically or legally mineable.

Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding: the timing and results of future drilling and development activities and the ability to convert Inferred Mineral Resources to Indicated Mineral Resources and the possible subsequent conversion to Mineral Reserves, the results of completion of pit parameter, shells and designs, the effect of the increase in Indicated Mineral Resources on year-end mineral reserves; and the timing of reserve and resource statements and estimates; the potential methods of mining. Factors that could cause actual results to differ materially include timing of and unexpected events during exploration, development and construction; variations in ore grade; variations in relative amounts of refractory, non-refractory and transition ores; technical or permitting issues, and fluctuations in gold price and costs. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these and other factors in our Form 10-K for 2008, as amended.

Contact Information

  • Golden Star Resources Ltd.
    Bruce Higson-Smith
    Vice President Corporate Development
    +1 800 553 8436
    or
    Golden Star Resources Ltd.
    Anne Hite
    Investor Relations Manager
    +1 800 553 8436