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Roxgold Inc.
Summary
| Project: | Yaramoko | |
|---|---|---|
| Deposit: | Yaramoko | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 7/11/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 11-7-2019: Roxgold Inc. announces a Resource Estimation report for its Yaramoko deposit at the Yaramoko project. Updated mineral resource and ore reserve statement. Toronto, Ontario – July 11, 2019 - Roxgold Inc. (“Roxgold” or the “Company”) (TSX: ROXG) i | |
| Resources: | (Reserve, P+P): 2.484Mt @ 8.24g/t Au for 658Koz Au contained | |
| CP/QP: | [Resources]: Belinda van Lente (CSA Global Pty Ltd.) | |
| ABSTRACT: | Toronto, Ontario – July 11, 2019 - Roxgold Inc. (“Roxgold” or the “Company”) (TSX: ROXG) is pleased to announce an updated Mineral Reserves and Mineral Resources Statement for the Yaramoko Gold Project along with a maiden Mineral Resources Statement prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for the recently acquired Séguéla Gold Project in Côte D’Ivoire. “The addition of Séguéla to Roxgold’s development pipeline has substantially increased our resource inventory,” commented John Dorward, President and CEO. “With the addition of the recently commissioned underground mine at Bagassi South, we have essentially matched depletion of reserves at Yaramoko over the past two years and we look forward to a significant drilling program in the second half of next year from a second dedicated underground drilling platform to infill and extend the deeper portions of the 55 Zone. With the newly defined indicated mineral resources at Séguéla and our upcoming drill program, we believe there is an encouraging line of sight to further increases in the Company’s near surface mineral resource inventory in the coming years.” The Company estimated its 2018 year-end Mineral Reserves and Mineral Resources using gold price assumptions of US$1,450 per ounce for the Mineral Resource estimates and US$1,300 per ounce for the Mineral Reserve estimate. These assumptions represent increases of US$200 per ounce and US$50 per ounce respectively compared to the price of US$1,250 per ounce utilized for the 2016 Mineral Resources and Mineral Reserves estimate. The Mineral Resources and Mineral Reserves models were prepared in conformity with The Canadian Institute of Mining, Metallurgy and Petroleum’s (CIM) Estimation of Mineral Resources and Mineral Reserves Best Practices Guidelines (November, 2003) and are classified per the CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014). | |
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