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SEMAFO Inc.
Summary
| Project: | Nabanga | |
|---|---|---|
| Deposit: | Nabanga | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 9/30/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-9-2019: SEMAFO Inc. announces a PEA report for its Nabanga deposit at the Nabanga project. PEA results incl. post-tax NPV(5%) of $99.8M, IRR of 22.6%. Montreal, Quebec, September 30, 2019 – SEMAFO Inc. (TSX, OMX: SMF) is pleased to announce positive r | |
| Resources: | (Resource, Inf.): 3.4Mt @ 7.7g/t Au for 840Koz Au contained at the project | |
| CP/QP: | [Overall Report]: Patrick Moryoussef (Internal) | |
| ABSTRACT: | Montreal, Quebec, September 30, 2019 – SEMAFO Inc. (TSX, OMX: SMF) is pleased to announce positive results from a preliminary economic assessment (“PEA”) for its Nabanga project in Burkina Faso. Benoit Desormeaux, President and CEO, stated, “The results in today’s PEA highlight attractive economics for Nabanga including how the project can be developed with modest initial capital by combining open-pit and underground mining operations. The goal of the PEA study was to assess the initial economic viability and to identify areas for improvement to rank Nabanga within SEMAFO’s development pipeline. We believe we can improve the project economics through additional work on mining cost optimization for open-pit operations, underground operations, and underground capital development expenditures. Furthermore, there remains potential to extend resources through additional exploration drilling as some mineralized zones remain open and further exploration potential exists on the property. As we move beyond the PEA, we will be looking to maximise the potential to generate shareholder value.” | |
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