The maiden resource estimate for Roxgold’s QV1 target reported an inferred mineral resource estimated at 563 000 t grading at 12.14 g/t of gold for 220 000 oz of gold at a cut-off grade of 5.0 g/t of gold.
The QV1 target was identified during 2015 and is located at Bagassi South, which lies about 1.8 km south of the 55 Zone, where Roxgold is currently constructing the Yaramoko gold project.
The resource estimate was undertaken by Toronto-based SRK Consulting (Canada) and is based on 114 core boreholes totalling approximately 27 000 m of drilling and has been prepared in accordance with National Instrument 43-101 standards of disclosure for mineral projects.
Roxgold notes that the QV1 structure remains open down plunge and has therefore believes further exploration potential exists at QV Prime and foot wall zone.
“We are pleased to be able to show another milestone in terms of growth on the Yaramoko permit, says Roxgold president and CEO John Dorward.
“As we continue to focus on delivering the Yaramoko gold project on time and on budget, with first gold scheduled in June, we are encouraged to have a second mineral resource on the Yaramoko permit that highlights the prospectivity of the permit and Roxgold’s potential for organic growth.”
The disclosure of a maiden mineral resource statement for the QV1 gold deposit is not material to Roxgold. As a result, no technical report will be filed in respect of the maiden mineral resource at the QV1 deposit.
Roxgold remains committed to bringing the Yaramoko gold project into production and expects to update the technical disclosure of the project during the first quarter of 2017.
The new technical report will summarise the relevant technical information about the new Yaramoko mine, including the potential impact of new mineral resources delineated at the QV1 gold deposit.
Exploration drilling at QV1 will target the down plunge extensions with potential to improve and expand the mineral resources delineated to date. Despite this, the company notes that there is no guarantee that the additional drilling will be successful at expanding the mineral resources.