Roxgold guidance over 120K Oz

 

Produces 33,5O57 Oz in 3Q 

Roxgold preliminary production results for the third quarter of 2020 from the Company’s Yaramoko Mine Complex located in Burkina Faso. 

Produced 33,557 ounces of gold at an average grade of 7.7 grams per tonne in Q3, totalling 98,749 ounces produced for the year to date. Roxgold reported quarterly plant throughput of 1,424 tonnes per day for a total of 131,029 tonnes which exceeded increased nameplate capacity of 1,100 tpd by approximately 29%.

Maintained upper end of annual gold production guidance at 120,000 and 130,000 ounces subject to existing operating conditions being maintained, continued management and mitigation of Covid-19 to minimize impacts on operations with reduced personnel due to travel restrictions and protection protocols at Roxgold.

“Roxgold reports another positive quarter of operations from the Yaramoko Mine Complex, as our employees, contractors and local communities have all joined together to ensure a safe and secure working environment,” said John Dorward, President and CEO. 

“Yaramoko achieved quarterly production of 33,557 ounces, bringing our year to date production to 98,749 ounces – putting the company well on track towards achieving the upper end of our annual production guidance of 120,000 to 130,000 ounces. 

The processing plant continues to outperform, averaging throughput of 1,424 tonnes per day, as mining volumes were supplemented with lower grade stockpiles due to ongoing COVID-19 travel restrictions and distancing protocols requiring adjusted scheduling of mining personnel. 

Looking ahead, the pace of progress at Roxgold continues to accelerate, as Séguéla advances towards a construction decision in the first half of 2021, drilling at Boussoura builds confidence in the prospectivity of the project to be Roxgold’s third asset, and underground drilling at Yaramoko works toward expanding the mine life of our flagship asset. 

The Séguéla Project saw notable developments last quarter, including the approval of the Environmental and Social Impact Assessment and the discovery of the newest high-grade deposit – Koula. Permitting is progressing well and the Feasibility Study is on track for completion in the first half of 2021, after which we will be in a position to break ground towards pouring first gold from Séguéla in 2022. 

Following receipt of the approved ESIA, the Company’s board approved a package of early works expenditure including a Front End Engineering and Design study (“FEED”) along with initial site works to enable a rapid ramp up following completion of the Feasibility Study. We currently have four drills turning at Séguéla, with a focus on extension and infill drilling at Koula and the continued scout testing of the extensive portfolio of targets within our land package.”