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Roxgold Reports Jump In Resources After Maiden Séguéla Estimate

Kitco News

(Kitco News) - Roxgold Inc. (TSX: ROXG) late Thursday reported a big jump in mineral reserves as the company released a maiden estimate for the recently acquired Séguéla gold project in Côte D’Ivoire.

As of the end of 2018, company-wide measured and indicated mineral resources for the Yaramoko and Séguéla gold projects were 1,323,000 ounces at 4.8 grams of gold per tonne,  representing an increase of 79% over the Dec. 31, 2016 estimate, officials said.

Roxgold said it maintained proven and probable mineral reserves of 658,000 ounces at 8.2 g/t at the Yaramoko gold project following production of 260,000 ounces at 14.4 g/t Au in 2017 and 2018 from the 55 Zone.

The maiden estimate for Séguéla indicated mineral resources was put at 496,000 ounces at 2.4 g/t gold, with an inferred mineral resource estimate of 34,000 ounces at 2.4 g/t gold for the Antenna deposit.

Officials said a preliminary economic assessment for Séguéla expected to be completed in late this year.

“The addition of Séguéla to Roxgold’s development pipeline has substantially increased our resource inventory,” said John Dorward, president and chief executive officer. “With the addition of the recently commissioned underground mine at Bagassi South, we have essentially matched depletion of reserves at Yaramoko over the past two years and we look forward to a significant drilling program in the second half of next year from a second dedicated underground drilling platform to infill and extend the deeper portions of the 55 Zone.

“With the newly defined indicated mineral resources at Séguéla and our upcoming drill program, we believe there is an encouraging line of sight to further increases in the Company’s near surface mineral resource inventory in the coming years.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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