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Teranga Gold Corp.
Summary
| Project: | Sabodala | |
|---|---|---|
| Deposit: | Niakafiri | |
| Location: | Senegal | |
| Commodities: | Gold | |
| Date: | 2/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-2-2017: Teranga Gold Corp. announces an Exploration/Drilling Update report for its Niakafiri deposit at the Sabodala project. Drilling results incl. 8m @ 6.9g/t Au from 17m. Teranga Gold Corporation ("Teranga" or the "Company") (TSX: TGZ) (ASX: TGZ) is | |
| Resources: | (Reserve, P+P): 8.95Mt @ 1.09g/t Au for 314Koz AU contained at Niakafiri | |
| CP/QP: | [Overall Report]: Peter Mann (Internal) | |
| ABSTRACT: | Teranga Gold Corporation ("Teranga" or the "Company") (TSX: TGZ) (ASX: TGZ) is pleased to announce initial results from its exploration drilling program at its Niakafiri deposit on the Sabodala mine license in Senegal, West Africa. “We are pleased to be drilling at Niakafiri. With the resumption of drilling, we believe there is considerable opportunity to upgrade the existing resources and reserves. With results received from 27 of the 115 planned holes, we are encouraged by the favourable results thus far,” stated Paul Chawrun, Chief Operating Officer of Teranga. The majority of the Niakafiri suite of deposits were delineated at the inception of the Sabodala project in 2009 and represents a combined measured and indicated resource of approximately 600,000 ounces, an inferred resource of approximately 220,000 ounces and reserves of over 300,000 ounces(1) included within the total resource estimate (see Table 1A in Appendix 1). These resources and reserves have been delineated near surface with the oxide zone extending at depth and are approximately 3 kilometres from the Sabodala mill (see Figure 1 in Appendix 1). Further development drilling of Niakafiri resources was halted until Teranga was able to access these areas with stakeholder support. Since re-initiation of this program with one drill in late 2016, we have increased present activity to four drills in order to complete the drilling in time for inclusion in an updated mid-year resource and reserve statement. Added David Mallo, Vice President Exploration of Teranga, “The Niakafiri drilling program will continue throughout 2017 as we seek to upgrade resource classification, infill gaps between resource outlines and evaluate mineralisation along strike of the deposits.” | |
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