operations
operations

Operations at a Glance

Operation Name Wassa Gold Mine
Parent and ownership percentage Golden Star Resources – a member of Chifeng Gold Group (90%) / Government of Ghana (10%)
Country of operation Ghana
Commodity being mined Gold
P&P Mineral Reserves 1.09 million ounces
Average grade of P&P Mineral
Reserves 		Underground 10.8 Mt at 3.1 g/t Au
M&I Mineral Resources 29.3 Mt at 3.8 g/t Au for 3.5 Moz contained
Remaining reserve life of mine 6 years
Geological setting Quartz carbonate veins with pyrite
Underground mining method Sub-level longhole open stoping
Processing method Carbon-in-leach
Processing plant capacity 2.7Mtpa
2021 Production
Gold produced (oz) 155koz 



About Wassa

Wassa is located in south-western Ghana. Golden Star commenced production from the surface operation at Wassa in 2005 and commercial production was achieved at Wassa Underground on January 1, 2017. In early 2018 Wassa transitioned into an underground-focused operation. Thanks to the scale of the historical open pit mining operation the processing plant has significant excess capacity and is currently only running at 70-80% (based on 2020 actuals) utilization. Development of the large inferred mineral resource which comprises the southern Extension zone, was the subject of a Preliminary Economic Assessment which was included in the March 2021 Technical Report. Given the scale of the resource at Wassa, the Company is exploring the potential to increase the mining rate in order to fill the mill.

Wassa Underground has exploration upside through extension drilling of B Shoot North, step out drilling on B Shoot South, step out drilling on the 242 Trend and the extension of the F Shoot. This work is expected to increase the mine life of Wassa Underground in the short, medium and long term.

For further information about Wassa’s Mineral Reserves and Mineral Resources, click here:
Reserves and Resources


Supplemental Documents to Press Release Dated November 13, 2019

Figure 1: Wassa Underground: Isometric View Looking East Showing Significant Results

Figure 2: Wassa Underground: Cross Section 18875N Looking North Showing the Change of the Interpretation

Appendix A


Supplemental Docs for PR July 15

Wassa Technical Report
(NI 43-101)

Download
Click Here for the March 2021 Technical Report

WASSA PLANS AND SECTIONS

Download
December 2018 Drill Sections 670 KB
September 2018 Drill Sections 647 KB
April 2018 Drill Sections 539 KB

Site Visit Photographs

Download
Analyst & Investor Site Visit – Nov 2017 7.35 MB

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Non-GAAP Information

Golden Star also uses certain non-International Financial Reporting Standards (“IFRS”) financial measures as defined in applicable Canadian and United States securities laws ("non-GAAP measures"), including the terms “cash operating cost per ounce”, “all-in sustaining costs”, “cash generated from operations before working capital changes”, “adjusted net (loss)/income attributable to Golden Star shareholders and “adjusted net (loss)/income per share attributable to Golden Star shareholders”. Golden Star believes that these measures are similar to the measures of other gold mining companies, but may not be comparable to similarly titled measures in every instance. In addition, changes in numerous factors including, but not limited to, Golden Star’s share price, risk free interest rates, gold prices, mining rates, milling rates, ore grade, gold recovery, costs of labor, consumables and mine site general and administrative activities can cause these measures to increase or decrease.

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