The news coming out of TSX-listed Roxgold certainly has my attention this week after the company announced it had increased resources at its Séguéla gold project in Côte d’Ivoire, thereby adding significant value to the project.
The promising news relates to drilling results from its Koula deposit at Séguéla. Why are the results so significant?
According to Roxgold president and CEO, John Dorward, “These results support the recent Séguéla mineral resource update, in which the Koula deposit had a maiden inferred resource of 281 000 oz at an impressive 8.1 g/t. It has been remarkable to see the advancement of the Koula deposit since announcing its discovery in September of last year.
“Since acquiring Séguéla in April 2019, we have seen the project grow at a rapid pace to over a million ounces of indicated and an additional 370 000 oz of inferred mineral resources. We continue to believe we have only begun to tap the potential of Séguéla and are eager to continue to uncover and test the wealth of additional targets present on the property.”
Steady progress ongoing
While exploration continues at Koula, the critical path for the project plan is on track with the Feasibility Study scheduled for the second quarter of this year, followed soon thereafter by a construction decision towards the goal of achieving first gold pour at Séguéla in 2022.
Located approximately 1 km to the east of Antenna, Koula was discovered through field reconnaissance and coincident recent artisanal workings in an area previously considered to be a lower exploration priority. A 4 rig infill program of RC and diamond drilling is 80% complete with the primary objective of infilling the deposit to 25m centres to support an upgraded indicated classification. This further supports its rapid advancement and inclusion in the forthcoming Feasibility Study.
As both exploration and moving towards construction continue at Séguéla, I am certain that we will see continued growth of this lucrative project in the near future, giving it the potential to be one of the highest grade open pits in West Africa.