TSX-listed Roxgold intends to increase its 2017 full year gold production guidance to 115 000 – 125 000 oz compared to the previous range of 105 000 – 115 000 oz.The 2017 full year guidance for cash operating cost and all-in sustaining cost for Roxgold remains unchanged between US$445 - $490 per oz and $740 - $790 per oz of gold respectively.
“Operations have been performing extremely well at Yaramoko’s 55 Zone where mining rates and head grades have been higher than anticipated," explains Roxgold president and CEO, John Dorward.
"As a result, we are very pleased to announce an increase in our production guidance range for the year while maintaining our cost guidance. At the end of August we had produced over 81 500 oz of gold, or over 70% of the lower end of our revised guidance range of 115 000 to 125 000 oz for the year,” adds Dorward.
Bagassi South feasibility study
Roxgold continues to progress the Bagassi South feasibility study which is on track and expected to be released in the fourth quarter.
During the second quarter, Roxgold completed an infill and extensional drilling program at Bagassi South, located 1.8 km south of the 55 Zone in Burkina Faso, which resulted in a significant grade increase of approximately 37% in the mineral resource estimate (MRE).
The updated MRE will be incorporated into the Bagassi South feasibility study and features an indicated mineral resource of approximately 352 000 tons at 16.6 g/t Au for 188 000 oz of gold and inferred mineral resource of approximately 130 000 tons at 16.6 g/t Au for 69 000 oz of gold.
Infill and extensional drilling at QV Prime, a second mineralised structure at Bagassi South currently outside the scope of the feasibility study, is ongoing with two diamond drill rigs.
Feature image credit: Roxgold