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SEMAFO Inc.

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Summary

Project:

Nabanga

Deposit:Nabanga
Location:Burkina Faso
Commodities:Gold
Date:2/20/2019
Report Code:NI43-101
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:20-2-2019: SEMAFO Inc. announces a Resource Estimation report for its Nabanga deposit at the Nabanga project. Updated mineral resource estimate at the project. The resource estimation update is based on 395 drill holes (RC and DD combined) totalling 57,48
Resources:(Resource, Inf.): 3.4Mt @ 7.7g/t Au for 840Koz Au contained at the project
CP/QP:[Resources]: Francois Thibert (Internal)
ABSTRACT:The resource estimation update is based on 395 drill holes (RC and DD combined) totalling 57,488 meters including 67 core holes drilled since the latest estimation completed by Snowden in August 2012, and a revised interpretation of the mineralization that suggests a shallower plunge of the higher-grade zones of gold mineralization. The 2018 exploration program (24 holes) was designed to explore the shallow plunge interpretation, and its highlights are presented in Figure 1. The Nabanga deposit is located on the Yactibo Project, 125 kilometers south-west of the Boungou Mine and 250 kilometers south-east of Ouagadougou, Burkina Faso. Nabanga is a typical ‘’intrusion-related’’ type deposit, predominately hosted within a magnetite-rich granodiorite intrusive. Gold mineralization is associated with quartz veining and a distinctive alteration zone developed around the structure. The updated resource estimation, coupled with recent exploration work, continue to underline the quality of the Nabanga deposit as a high-grade gold mineralization zone that remains open to the north-east. In addition, recent auger drilling surrounding the deposit identified gold geochemical anomalies that could offer proximal satellite zones of gold mineralization.

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