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West African Resources Ltd.

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Summary

Project:

Sanbrado

Deposit:Sanbrado
Location:Burkina Faso
Commodities:Gold
Date:4/15/2019
Report Code:NI43-101
Report Type:Feasibility Study
Project Stage:Mine Development
Report details:15-4-2019: West African Resources Ltd. announces a Feasibility Study report for its Sanbrado deposit at the Sanbrado project. Updated feasibility study results incl. post-tax NPV of US $444M (5%), IRR of 62%. Managing Director Richard Hyde commented: “The
Resources:(Reserve, Prob.): 21.6Mt @ 2.4g/t Au for 1.7Moz Au contained at Sanbrado
CP/QP:[Resources]: Brian Wolfe (Independent)
ABSTRACT:Managing Director Richard Hyde commented: “The optimised feasibility study confirms that Sanbrado is a high margin gold project, producing 217,000 ounces gold per annum at AISC of US$563/oz over the first five years mine life and 153,000oz per annum gold over the current 10-year mine life. “Recent deep high-grade intercepts demonstrate the potential to extend reserves, and increase annual production post year 6 with additional infill and extensional drilling. “We are fully funded with construction underway and first gold pour scheduled in Q3 2020.” West African Resources Limited (ASX: WAF) is pleased to announce the results of its updated Feasibility Study, prepared in accordance with the requirements of the 2012 JORC Code and NI 43-101, for the Sanbrado Gold Project, Burkina Faso. The study envisages an initial 10 year mine life including 6.5 years of underground mining, with strong early cashflow and a rapid payback of capital.

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