For thousands of other reports visit RSC's Mineral Intellingence Map
Teranga Gold Corp.
Summary
| Project: | Wahgnion | |
|---|---|---|
| Deposit: | Wahgnion | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 6/7/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 7-6-2018: Teranga Gold Corp. announces a Resource Estimation report for its Wahgnion deposit at the Wahgnion project. Updated mineral resource estimate at the project. Toronto, Ontario – June 7, 2018 – Teranga Gold Corporation (“Teranga” or the “Company”) | |
| Resources: | (Resource, M+I): 50.5Mt @ 2.44g/t Au for 2.44Moz Au contained | |
| CP/QP: | [Resources]: Patti Nakai-Lajoie (Internal) | |
| ABSTRACT: | Toronto, Ontario – June 7, 2018 – Teranga Gold Corporation (“Teranga” or the “Company”) (TSX:TGZ; OTCQX:TGCDF) is pleased to announce an updated mineral resource estimate for its Wahgnion gold development project (“Wahgnion”) in Burkina Faso, West Africa. Based on drill results from a 73,000-metre infill drill program completed in 2017, the updated combined measured and indicated mineral resource is now 50.5 million tonnes at a grade of 1.51 g/t for 2.4 million contained ounces of gold. This represents a 33% increase from 1.8 million contained ounces of gold previously announced in the feasibility study released on September 7, 2017. Teranga expects to release an updated mineral reserve estimate and related NI 43-101 technical report for Wahgnion in the third quarter of 2018. “Based on these excellent results, we are targeting a conversion rate of more than 50% of these additional 600,000 ounces of mineral resources into reserves, exceeding our guidance range of between 175,000 and 350,000 ounces of gold,” said Richard Young, President and Chief Executive Officer. Added Mr. Young, “With financing in place and major construction advancing, we are on our way to building a mid-tier gold producer in West Africa.” Wahgnion, which will be the Company’s second mine, is expected to increase company-wide annualized production by 50% to between 300,000 and 350,000 ounces. First gold pour is expected by the end of 2019. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report