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SEMAFO Inc.
Summary
| Project: | Natougou | |
|---|---|---|
| Deposit: | Boungou | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 2/15/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 15-2-2018: SEMAFO Inc. announces a Resource Estimation report for its Boungou deposit at the Natougou project. Updated mineral resources and reserves at Bongou. Montreal, Quebec, February 15, 2018– SEMAFO Inc. (TSX, OMX: SMF) today announced positive pre- | |
| Resources: | (Reserve, P+P): 11.195Mt @ 4.11g/t Au for 1.479Moz Au contained at Bongou Mine | |
| CP/QP: | [Resources]: Michel Crevier (Internal) | |
| ABSTRACT: | Montreal, Quebec, February 15, 2018– SEMAFO Inc. (TSX, OMX: SMF) today announced positive pre-feasibility study (PFS) results at Mana, the addition of 188,000 ounces of reserves, primarily at Siou underground, and an increase of 203,000 ounces of reserves at Boungou. As a result, the Corporation is providing the following consolidated five-year operational targets. The 2017 infill drill program at Boungou added 203,000 ounces of reserves and 201,000 ounces of measured and indicated resources. The additional reserves have been pit-constrained at a $1,200 gold price and are included in the updated reserves and resources statement in Appendix 2. As at December 31, 2017, mineral reserves at Boungou stood at 11.2 million tonnes at 4.11 g/t Au for 1.5 million ounces of gold. The additional reserves support an average production profile of over 200,000 ounces per year between 2019 and 2023 at an average AISC of $516 per ounce. The updated Boungou mine plan is presented in Appendix 4. An internal trade-off study was conducted on the West Flank in order to determine whether open pit or underground was the optimal mining approach. Open-pit mining provided better returns compared to an underground mining method. The remaining underground resources are included in the measured and indicated category, but are not included in the mine plan. Given the open-pit option, no pre-feasibility study is necessary. | |
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