thanks , Dan, I have had good luck swing trading GSS since finding it tru your posts. I think I will stop messing around with it though, and just hold some now, I don't want to get left behind when things take off. I have a good cushion at this time for a hold ===============================================================
Hi ZZ, I can understand the urge to "swing trade" Golden Star because of it's volatility, but I think your decision to "stop messing around" with GSS has mucho merit, at least w/r to a good sized 'core' position. I believe this will be a long term cap gains three or four bagger even in the, imo, very unlikely situation that the PoG doesn't surpass the $500/oz level at some point in time. Personally, I've seen no reason to think we won't see four figure gold sometime during the second half of this decade.
Check out this PR. The lower table is really impressive especially the almost 70' wide high grade #'s of BDYRB459. Tho we prolly won't know this year, the twelve grams of gold per ton could amount to an incredible number of oz if that vein alone proves to have some depth. ===============================================================
Golden Star Identifies New Mineralization near Its Bogoso/Prestea Gold Mine
Tuesday March 30, 11:55 am ET
DENVER--(BUSINESS WIRE)--March 30, 2004--Golden Star Resources Ltd. (AMEX:GSS - News; TSX:GSC - News) is pleased to announce that it has completed the first phase of an exploration reconnaissance program on a southern extension of its Bogoso/Prestea gold property in Ghana. The program included 1,089 shallow holes for 28,272 meters of rotary air blast (or RAB) and limited reverse circulation (or RC) drilling, which has identified substantial gold grades hosted in oxide material over the northern half of a parallel gold-in-soil anomaly. This gold-in-soil anomaly, located along the Ashanti Gold Belt, extends seven kilometers south of the southern-most pits on the Prestea mining lease to the southern extent of the concession. Exploration drilling on the second half of the anomaly is now underway.
Peter Bradford, President and CEO, commented, "We are very excited about the relatively high-grade drill results from this extensive mineralization. The potential to increase our already significant gold reserves and resources at Bogoso/Prestea brings a whole new dimension to the possible size of the property. The new zones are near the mine's proposed second processing plant and further warrant our commitment to expand at Bogoso/Prestea." Golden Star had 3.6 million ounces of mineral reserves together with substantial mineral resources at the end of 2003 and it expects to double its 2003 production level to achieve a production rate of more than 350,000 ounces per year by 2005.
Currently an RC drilling program is being conducted to test the down-dip extension of the shallow RAB holes. The first phase of this program is expected to be complete by mid-year, following which further drilling will be planned for further evaluation. The shallow reconnaissance drilling on the other half of the anomaly is ongoing and is expected to continue for most of 2004. Pending positive results of this program, additional follow-up with deeper RC and diamond drilling would be conducted to delineate the mineralized zones at depth.
The attached table summarizes the significant intersections to date from the first half of the reconnaissance drilling program. Full details of the drill results and a location map are provided on the Company's website at www.gsr.com.
COMPANY PROFILE
Golden Star holds a 90% equity interest in the Bogoso/Prestea open-pit gold mine and the nearby Wassa gold project, which will commence production later this year. Both mines are located in Ghana. In addition, the Company has a majority interest in the currently inactive Prestea Underground mine in Ghana as well as gold exploration interests elsewhere in West Africa and in the Guiana Shield of South America.
Note regarding Canada's National Instrument 43-101: The above disclosure has been reviewed by our Qualified Person, Mr. S. Mitchel Wasel, our Exploration Manager in Ghana.
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