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Roxgold Inc.
Summary
| Project: | Yaramoko | |
|---|---|---|
| Deposit: | Bagassi South | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 11/6/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 6-11-2017: Roxgold Inc. announces a Feasibility Study report for its Bagassi South deposit at the Yaramoko project. Feasibility Study results incl. post-tax NPV(5%) $50M, IRR 53.2%. Toronto, Ontario – November 6, 2017 – Roxgold Inc. (“Roxgold” or “the Com | |
| Resources: | (Reserve, Prob.): 458Kt @ 11.54g/t Au for 170Koz Au contained at Bagassi South | |
| CP/QP: | [Overall Report]: Sebastien Bernier, Ken Reipas, Benny Zhang (SRK Consulting (Canada) Inc.) | |
| ABSTRACT: | Toronto, Ontario – November 6, 2017 – Roxgold Inc. (“Roxgold” or “the Company”) (TSX: ROXG) (OTC: ROGFF) is pleased to announce positive results of the feasibility study (“Feasibility Study”) for the Bagassi South Project located on the Company’s Yaramoko concession. The Feasibility Study envisions a satellite underground operation at Bagassi South and an expanded processing facility at Yaramoko. All amounts stated in this news release are in U.S. dollars unless otherwise indicated. “The Bagassi South expansion adds substantial value to Roxgold by increasing Yaramoko Gold Project gold production by approximately 40% to over 150,000 ounces in the near term. Like the neighbouring 55 Zone, the economics of this additional high grade feed source are highly accretive and generate increased cashflow from a modest capital outlay. Consistent with our commitment to offer accretive growth while managing dilution, this expansion will be funded from our own balance sheet without the need for additional equity from our shareholders. In addition, work is already underway to extend the mine life at Bagassi South through the current infill and extensional drilling program on the QV Prime structure,” stated John Dorward, President and CEO. The economic parameters quoted in this press release are based upon 100% ownership of the expanded Yaramoko Gold Project, which is inclusive of the Bagassi South mine. The costs and benefits associated with the project reflect the incremental costs and benefit associated with the Bagassi South Expansion Project only. The Company expects to utilize internal cash flow to fund the Bagassi South Expansion Project. | |
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