Golden Star Reanimates Prestea Mine

Golden Star Resources Ltd., Canadian gold mining company, announced that it has completed the first phase of drilling at the currently nonworking Prestea Underground gold mine on its in Ghana, Africa.
The Company plans to test several unmined areas within the old workings. Total production in this field counted about 9 million ounces over 130 years, before its shutdown in 2002.
Golden Star announced that its 90 percent owned operating subsidiary, Bogoso Gold Limited has increased its interest in the Prestea Underground gold mine to 90 percent, and Ghana government holds the remaining 10 percent.
In this regard, Prestea Gold Resources, the third original joint venture partner, is subject to official liquidation. Bogoso Gold will take over the residual interest of PGR.
In total, Golden Star has committed $6.6 million to the exploration and drilling of the Prestea Underground gold mine in 2004. Currently, three drill rigs are actively drilling the underground targets and the company expects to increase this to a maximum of five drill rigs in the third quarter.