Local media quoting eye witness say at least one person had been pulled out of the debris dead while more than 30 were still trapped underneath the rubble.
Tarkwa Municipal Police Commander Paul Ayittey was quoted by local radio station Joyfm as saying there had been two other injured people pulled up from the collapsed pit.
Local media sources say the incident occurred in the early hours of Monday and has brought activities at the mine site, where over 300 people had been working, to a standstill.
Western Regional Police told Xinhua they were still following the developments to ensure the safety of those still alive.
A similar incident claimed nearly 100 lives at Dunkwaw-on-offin, near Cape Coast, over 140 km West of the capital in 2010. Enditem