Roxgold Acquires Séguéla
Completes
Acquisition &
Commences
Exploration Program
Roxgold
has completed the previously announced acquisition from Newcrest West Africa
Holdings Pty Ltd. of a portfolio of 11 exploration permits in Côte d'Ivoire
which includes the Séguéla gold project for a total upfront consideration of
US$20 million.
"We
are very pleased to complete this highly accretive transaction that delivers on
creating long-term value for our shareholders.
The Séguéla gold project provides a second key asset with significant
growth potential both in the near term through the near-surface Antenna deposit
and attractive satellite opportunities as well as a highly prospective large
land package. We will be immediately commencing a drilling program and a
preliminary economic assessment study at Séguéla", stated John Dorward,
President and CEO.
Paul
Weedon, Vice President, Exploration added, "This acquisition will
materially increase Roxgold's overall resource inventory, with work already
underway to bring the deposit up to National Instrument 43-101 standards. We
also believe there is substantial near-term exploration upside at this deposit,
and regionally, with the opportunity to significantly advance Séguéla in the near
term with an initial 28,000 metre drilling program to commence next week".
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