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West African Resources Ltd.
Summary
| Project: | Sanbrado | |
|---|---|---|
| Deposit: | Sanbrado | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 2/20/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-2-2017: West African Resources Ltd. announces a Feasibility Study report for its Sanbrado deposit at the Sanbrado project. Feasibility study results incl. post-tax NPV (5%) of $100M, IRR of 21%, 9 year LOM . West African Resources (WAF) is a gold explo | |
| Resources: | (Reserve, Prob.): 16.8Mt @ 1.7g/t Au for 894koz Au contained at project | |
| CP/QP: | [Resources]: Brian Wolfe (International Resource Solutions Pty Ltd.) | |
| ABSTRACT: | West African Resources (WAF) is a gold exploration company based in Perth, Australia, dedicated to creating shareholder value through the acquisition, exploration and development of resource projects in Burkina Faso, West Africa. Its exploration assets consist of several Burkina Faso properties including the Sanbrado Gold Project, previously the Tanlouka Gold Project. WAF acquired a 90% interest in the Sanbrado property through the acquisition of Channel Resources Ltd on 21 January 2014, and acquired the remaining 10% of the project from GMC SARL, a Burkina Faso registered entity, in September 2015. The original Tanlouka Project covered an aggregate area of 115km², comprising a single Exploration Licence (Arrete No: 2013/128/MME/SG/DGMG) which expired on January 27, 2016. This expiry occurred after the application for an industrial operating Exploitation Permit and the Exploration Permit is therefore considered valid until the Exploitation Permit application has been granted According to the 2015 Mining Code (Article 73). An Exploitation Permit application for large industrial exploitation of gold was filed on October 26, 2015 (Sanbrado Gold Project). This Report details the updated resource model and describes the optimised mining and processing plans. The updated resource as well as all other necessary components of project definition have been compiled into a feasibility study described in this report (the Sanbrado Gold Project). The Study envisages a production rate of 2.0 million tonnes per annum (Mtpa). The process flowsheet comprises crushing, grinding, gravity gold recovery and leach gold recovery (conventional CIL). | |
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