Golden Star
Roxgold has increased its mineral resource estimate (MRE) at its Bagassi South deposit which is located less than 2 km from its flagship gold mine at the 55 Zone.

Burkina Faso Roxgold has further completed drilling results from H1, 2017 infill and extensional drilling programme.

The MRE was undertaken by Roxgold and validated by SRK Consulting (Canada) and is based on 250 core boreholes totalling approximately 55 660 m of drilling and has been prepared in accordance with NI 43-101 standards of disclosure for mineral projects.

The 2017 Bagassi South drilling programme returned a significant number of high grade intercepts which have been incorporated into an updated MRE.  Below are the highlights of the estimate:

  • Indicated MRE of 352 000 t at 16.6 g/t of gold for 188 000 oz of gold at a cut-off grade of 5 g/t;
  • Inferred MRE of 130 000 t at 16.6 g/t gold for approximately 69 000 oz of gold at a cut-off grade of 5 g/t; and
  • Currently conducting further expansion drilling at Bagassi South with plans to commence drilling at the nearby Ridge Line targets in the coming weeks.

Following the successful infill and extensional drilling programme in the first half of 2017, the updated Bagassi South MRE is a significant improvement over the previous inferred resource estimate of 563 000 t at 12.1 g/t gold for 220 000 oz at a cut-off grade of 5 g/t.

“Yaramoko has again delivered high grade resources,” comments John Dorward, President and CEO of Roxgold. “As we continue to focus on delivering growth at Yaramoko through development projects and exploration, we are encouraged to have a second high grade indicated mineral resource on the Yaramoko permit that highlights the prospectivity of the permit and Roxgold’s potential for organic growth.”

Exploration outlook

Exploration activities are expected to continue for the remainder of 2017 to support the Roxgold’s organic growth strategy with an approved budget of $8 million.

55 Zone exploration update

At 55 Zone, a further round of drilling totaling approximately 11 000 m was commenced in the second quarter and will continue into the third quarter.

There are currently two drill rigs active on the 55 Zone deep drilling programme which will primarily target resource growth at depth, below and west of the Q4, 2016 drilling programme which featured the widest interval ever drilled at Yaramoko of 20.1 g/t gold at over 23.8 m.

Upcoming catalysts

Q3 – Results of 55 Zone deep drilling programme currently underway;
Q3 – Initial results from recently commenced 6 000 m regional drilling campaign in the Bagassi Corridor;
Q3 – Commencement of drilling on Ridge Line targets;
Q4 – Results of Bagassi South feasibility study;
Q4 – Commencement of drilling programme on Boni Shear regional target.