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West African Resources Ltd.
Summary
| Project: | Sanbrado | |
|---|---|---|
| Deposit: | Sanbrado | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 6/22/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 22-6-2018: West African Resources Ltd. announces a Feasibility Study report for its Sanbrado deposit at the Sanbrado project. Feasibility Study results incl. post-tax NPV of US $405M (5%), IRR of 49% and 11yr LOM at Sanbrado. West African Resources Limite | |
| Resources: | (Reserve, Prob.): 20.4Mt @ 2.4g/t Au for 1.574Moz contained | |
| CP/QP: | [Resources]: Brian Wolfe (Independent Resource Solutions Pty Ltd.) | |
| ABSTRACT: | West African Resources Limited (ASX, TSXV: 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 11 year mine life including 4.5 years of underground mining, with strong early cashflow and a rapid payback of capital. Managing Director Richard Hyde commented: “The Company's updated feasibility study confirms that Sanbrado is a high margin gold project, producing 211,000 ounces per annum at AISC of US$551/oz over the initial 5 years of mine life. The project is robust, generating an after-tax IRR of 49% and paying back capital in less than 16 months. Recent high-grade intercepts including 11m at 10.5g/t Au and 6m at 24.4g/t Au in TAN18-DD189, located 70m beneath current resources and reserves, provide scope to improve project value further. A Scoping Study has also commenced focussing on the underground potential of M5. Drilling at M1 South and M5 is ongoing, with further resource and reserve updates expected by year end. Discussions with project financiers are underway and the Company expects to be in a position to appoint a banking syndicate by Q4 2018.” | |
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