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Roxgold Agrees To Acquire Côte d’Ivoire Gold Project

Kitco News

Roxgold Inc. (TSX: ROXG) says it has agreed to buy a portfolio of 11 exploration permits in Côte d’Ivoire, including the Séguéla gold project, from Newcrest West Africa Holdings Pty Ltd. The up-front payment is $20 million, with an additional $10 million due upon first gold production from the land package. Roxgold says the deal gives it “highly prospective” exploration permits in the “attractive mining jurisdiction” of Côte d’Ivoire. In particular, officials cite near-term development potential at the flagship Séguéla project, which hosts the Antenna deposit and satellite opportunities This deposit has an inferred resource of 5.8 million tonnes at 2.3 grams of gold per tonne for 430,000 ounces, Roxgold says. “This acquisition represents a meaningful addition to our growth pipeline, providing a key second asset, immediate additional resource upside and a large prospective land package all in an accretive transaction for Roxgold shareholders,” says John Dorward, president and chief executive officer of Roxgold. “Rarely does such a large and carefully assembled land package become available from one of the world’s leading gold producers, and Séguéla is expected to materially increase Roxgold’s overall resource inventory, particularly after we bring the deposit up to National Instrument 43-101 standards later this year.”

By Allen Sykora of Kitco News;


OceanaGold Announces Gold-Silver Intercepts At WKP

Tuesday February 12, 2019 09:02

OceanaGold Corp. (TSX, ASX: OGC) says it has intersected high-grade gold and silver mineralization during drilling along the East Graben vein at the WKP prospect in New Zealand. In its announcement, the company lists a series of intercepts ranging from 12.33 grams per tonne of gold to 43.37 g/t. Each intercept also included silver, with this ranging from 20 g/t to 101.8 g/t. “Drilling continues to yield high-grade intercepts across multiple veins, with each hole increasing our confidence of a potential resource and possible new major discovery located close to the Waihi operation,” says Mick Wilkes, president and chief executive officer. He later adds, “For 2019, we expected to invest between $8 million and $10 million to drill the WKP target.”

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