Golden Rim Resources

Construction works at Roxgold’s Bagassi South underground gold mine in Burkina Faso are on schedule and on track for delivery of first ore in late Q4, 2018.

Bagassi South is the second high-grade underground gold mine on the Yaramoko property and is currently in development.

Bagassi South consists of two gold deposits: QV1 Zone and QV Zone.

Roxgold is currently advancing the development and construction of the QV1 Zone, which is the main deposit of the Bagassi South project.

The deposit is geologically similar to the 55 Zone and is located approximately 1.8 kilometres south of the 55 Zone which is currently being mined.

The Bagassi South QV1 deposit feasibility study confirmed robust economics for a potential 350-tonne-per-day underground mine.

It contains probable mineral reserves of 458 000 tonnes grading 11.54 g/t gold and is expected to increase the Yaramoko gold mine gold production by an estimated average gold production of 40 000 ounces per year to 2023.

Bagassi South mine operations would benefit from shared infrastructure, management and support services already in place for the 55 Zone mine.

First ore is expected in late 2018.

Highlights from Q2 2018

  • Approval of the Bagassi South Mining decree by the Burkina Faso Council of Ministers
  • Development and construction progressing well with overall project completion currently at approximately 60%
  • Boxcut excavation and portal collar completed in early July allowing for the commencement of underground development
  • Construction of the haulage road, security building, fencing, settling pond, and TSF embankment raise has been completed
  • Engineering design, procurement and civils for the process plant expansion has been completed with Group 5 construction personnel ramping up numbers at site
  • Construction of the overhead power line to Bagassi South is currently in progress and is expected to be completed in early August
  • The secondary crusher has been manufactured and shipped
  • The processing plant tie-ins are expected to occur largely within planned maintenance stoppages in Q3 and Q4
  • Construction of the ventilation shaft is expected to commence in the latter part of Q3
  • Overall project completion is expected in the latter part of Q4