Teranga Gold’s initial resource estimate provides a solid base from which to grow Golden Hill. This confirms premise that key prospects offer substantial upside.
Burkino Faso – Golden Hill is located in the central part of the highly mineralised Houndé Greenstone Belt in southwest Burkina Faso. Teranga Gold owns 100% of the area.
Resource estimates include:
- Indicated mineral resources of 6.40 Mt averaging 2.02 g/t gold for 415,000 oz;
- Inferred mineral resources of 11.95 Mt averaging 1.68 g/t gold for 644,000 oz; and
- Excellent along trend and to-depth continuity of gold mineralisation at all prospects drilled.
This initial mineral resource estimate was prepared by Teranga in accordance with CIM Standards and disclosed in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
This initial resource estimation includes the following prospects: Ma Main, Ma North, Jackhammer Hill, Peksou/C-Zone, Nahiri, A-Zone and B-Zone.
“It is still very early in our exploration program. However, after only 18 months of drilling, Golden Hill has advanced rapidly and we are increasingly confident that Golden Hill will ultimately represent Teranga’s third gold mine,” said Richard Young, president and CEO.
“With an early-stage initial resource estimate in hand, the focus now is on advancing the metallurgical test work required to produce the initial technical and economic assessments.
“The completion of these assessments is a prerequisite to drawing down on the debt facility in place to take Golden Hill into the feasibility stage of development.”
“Our initial resource estimate provides a solid base from which to grow Golden Hill and reaffirms our interpretations that most of the prospects offer substantial upside,” said Paul Chawrun, COO.
“We are pleased with the grades, strong continuity and widespread mineralisation at Golden Hill.
“Given the encouraging results of this early-stage initial resource estimate, our confidence in the project geology, recent discoveries and the proven mineral potential of the region, our priority is to increase the number of resource ounces and advance the project through a PEA and into the feasibility stage of development,” Chawrum concluded.