The Yaramoko permit covers approximately 196km2 in the Province of Balé in southwestern Burkina Faso. The property is located approximately 200 kilometres southwest from the capital city of Ouagadougou.
Yaramoko lies directly south of, and is contiguous to, the SEMAFO Inc. property hosting its flagship Mana Gold Mine and lies within the Hounde greenstone belt.
Roxgold is currently advancing a significant high-grade gold discovery at Yaramoko’s 55 Zone through contruction, for which it completed a Feasibility Study in 2014. In addition, the Company continues to explore at targets located within the permit. The most prospective of these is currently Bagassi South.
Production at the 55 Zone began in May of 2016. In October 2016 commercial production was declared. 77,157 ounces of gold were produced in the seven months of operation in 2016.
The Company expects to produce between 105,000 and 115,000 ounces in 2017.
Regional exploration on the Yaramoko permit to date has provided encouraging results at Bagassi South, the 109 Zone, 109 Hill, the 117 Zone, the 300 Zone and Haho and along the Boni shear where large gold in soil anomalies up of greater than 30 ppb have been outlined in recent soil geochemistry surveys.
Five regional targets have been tested with diamond drilling on the Yaramoko permit in 2013; these are: 109 Hill (0.5 km east of the 109 Zone), the 117 Zone, Bagassi South, the 300 Zone and Haho. All regional targets were defined by a combination of mapping, prospecting, geophysics and geochemical sampling. All drill tested areas have returned results of elevated gold values on this first pass test program. Gold at all of these targets is primarily hosted within quartz veining in sheared and faulted host rocks. Induced Polarization orientation surveying (“IP”) has provided an invaluable tool for mapping these quartz rich structures which IP images as resistivity anomalies.
At Bagassi South, Roxgold is continuing to evaluate the QV1 target which has returned high grade results in successive drill campaigns including results up for 41.4 g/t over 4.4 metres. From surface mapping the area appears to host a large, wide, structurally complex quartz, sericite, pyrite (“QSP”) alteration zone currently mapped to be approximately 250 metres along strike at surface and may be larger below. Within this structure, gold is associated with veining and silicification. This area responds well to IP and future targeting will be aided by a recently completed IP survey over the area. The high grade nature of the initial results are very encouraging and will be followed up on in the current regional drill program as Roxgold continues to define and delineate more gold within this area.
Future exploration on the five identified regional targets will incorporate additional IP, prospecting, auger drilling, mapping and follow up drilling.