SEMAFO has announced an updated inferred resource estimation for its Nabanga deposit.
Burkino Faso – The Nabanga deposit is located on the Yactibo Project, 125 km south-west of the Boungou Mine and 250 km south-east of Ouagadougou, Burkina Faso.
Highlight’s of SEMAFO’s estimation are:
- An increased inferred mineral resource by 42% to 3.4 M tonnes grading 7.7 g/t Au for a total of 840,000 oz of gold;
- PEA study expected to be completed in the third quarter of 2019; and
- Additional drill hole data confirm the shallower plunge of the mineralisation.
The estimation update is based on 395 drill holes (RC and DD combined) totalling 57,488 metres including 67 core holes drilled since the latest estimation completed by Snowden in August 2012, plus a revised interpretation of the mineralisation that suggests a shallower plunge of the higher-grade zones of gold mineralisation. The 2018 exploration program (24 holes) was designed to explore the shallow plunge interpretation.
Nabanga is a typical ”intrusion-related” type deposit, predominately hosted within a magnetite-rich granodiorite intrusive. Gold mineralisation is associated with quartz veining and a distinctive alteration zone developed around the structure.
The updated resource estimation, coupled with recent exploration work, continue to underline the quality of the Nabanga deposit as a high-grade gold mineralisation zone that remains open to the north-east. In addition, recent auger drilling surrounding the deposit identified gold geochemical anomalies that could offer proximal satellite zones of gold mineralisation.
The 2019 exploration program at Nabanga has been designed to test the northern extension. It is to further explore the down-plunge extensions confirmed by recent drilling, and test drill auger geochemical anomalies proximal to the deposit for satellite mineralisation. While SEMAFO continues to work on expanding the resource, it will complete a PEA study using the current estimation to assess economic viability of the project.
The resource estimate assumes a long-term gold price of US$1,500 per ounce and a recovery of 81% based on the historic metallurgical test work previously completed by Snowden in 2012.