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Roxgold Inc.
Summary
| Project: | Yaramoko | |
|---|---|---|
| Deposit: | Yaramoko | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 4/18/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 18-4-2017: Roxgold Inc. announces a Resource Estimation report for its Yaramoko deposit at the Yaramoko project. Updated mineral resources and reserves estimate for Yaramoko. Roxgold Inc. (“Roxgold” or the “Company”) (TSX: ROXG) is pleased to announce an | |
| Resources: | (Reserve, P+P): 1.996Mt @ 11.83g/t Au for 759koz Au contained at project | |
| CP/QP: | [Resources]: Sebastien Bernier (SRK Consulting (Canada) Inc.) | |
| ABSTRACT: | 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 initial development plans for the Company’s Bagassi South deposit. “We are very pleased with the overall increase in ounces and grade of the Mineral Resources at Yaramoko”, commented John Dorward, President and CEO of Roxgold. The definition of additional Mineral Reserves at the 55 Zone will be a priority for 2018 as we will be deep enough in the underground mine at this point to establish drill platforms to undertake the required infill drilling. In addition, the preliminary mining schedule for Bagassi South is very encouraging as we believe this will support a near-term production expansion at Yaramoko”. The Company estimated its 2016 year-end Mineral Reserves and Mineral Resources using a gold price assumption of $1,250 per ounce. These assumptions represent a change compared to the price of $1,300 per ounce utilized for the 2014 Mineral Reserves and Resources estimate in the Technical Report prepared to support the feasibility study for the Yaramoko project. Estimated proven and probable gold Mineral Reserves decreased by 13% from 759,000 ounces of gold as of December 31, 2015 to 662,000 ounces as of December 31, 2016. The decrease of 97,000 ounces was primarily due to depletion, as the Company mined and processed a total of 81,126 ounces in 2016 (net of stockpile additions), and a change to the gold price assumptions from $1,300 per ounce to $1,250 per ounce. Another factor which contributed to the revised Mineral Reserve estimate is the nearly 12 months of actual operating data at the Project, which have now been incorporated into the mining, processing and cost assumptions | |
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