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SEMAFO Inc.
Summary
| Project: | Bantou | |
|---|---|---|
| Deposit: | Bantou | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 2/24/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-2-2020: SEMAFO Inc. announces a Resource Estimation report for its Bantou deposit at the Bantou project. Updated Mineral Resource Estimate for the Bantou Project. Montreal, Quebec, February 24, 2020 – SEMAFO (TSX, OMX: SMF) today announced an inferred | |
| Resources: | (Resource, Inf.): 51.11Mt @ 1.37g/t Au | |
| CP/QP: | [Overall Report]: Richard Roy (Internal) | |
| ABSTRACT: | Montreal, Quebec, February 24, 2020 – SEMAFO (TSX, OMX: SMF) today announced an inferred mineral resource of 2.2 million ounces of gold at the Bantou Project in Burkina Faso. The resource statement will be published in early March, along with SEMAFO’s full reserves and resources statement, which are estimated as at December 31, 2019. Benoit Desormeaux, President & CEO, stated: “2019 was a successful exploration year at SEMAFO. Bantou’s inferred resource of 2.2M ounces puts us in a good position to achieve our resource objective of 2.5-3.0M ounces by year-end. Congratulations to Richard Roy and the exploration team for adding 1.2 million drill-bit ounces in 2019. The team had already added 0.7 million ounces with the tuck-in acquisition of Savary Gold. Bantou’s initial 2020 exploration budget of $4 million is likely to increase as we explore outside of the existing zones and follow up exciting intersections like 14.6 g/t over 21 meters at Tiébi. More than 90% of the inferred resource is pitconstrained, and we anticipate strong financial returns considering the Bantou Nord 1:1 pit-shell strip ratio. This 2.2- million ounce resource is a visible sign of Bantou’s district scale potential.’’ | |
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