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Burkina Faso gold sector shines brightly

Burkina Faso gold sector shines brightly

November 13, 2017

 

The gold mining sector in Burkina Faso could be regarded as one of the most vibrant and active industries at present.

 

SEMAFO is well underway with the construction of its new Boungou mine in the country and Roxgold looks set to increase its production performance from its Yaramoko mine.

 

Exploration activity in the country has also been significant in the country this year. Nexus Gold has acquired its third property in the country and various other players such as Orezone Gold, B2Gold and Golden Rim Resources have been active with their exploration programmes.

 

Most recently, dual-listed Endeavour Mining revealed that an on-going exploration campaign at both its Houndé and Karma mines in Burkina Faso have delivered positive results which could expand the company’s footprint.

 

At the Houndé mine, following two years of inactivity, exploration resumed in early 2017 and has confirmed the presence of significant potential with a high-grade discovery in the eastern part of the 6 km-long Kari geochemical anomaly, while high grade mineralisation was also intercepted on several other targets.

 

At the Karma mine, drilling has confirmed mineralisation at the Yabongso target and has discovered a parallel oxide structure east of the North Kao deposit, both of which are expected to be delineated into resources in Q1, 2018 and add further potential to extend its mine life.

 

"Last year we highlighted the Group's exploration potential as being a key source of long-term value creation for our shareholders and we launched a reinvigorated exploration programme with five year discovery targets,” says Sebastien de Montessus, President and CEO of Endeavour Mining.

 

“Over the past year we have already enjoyed significant success at our Ivorian Ity mine, which was a key priority ahead of launching its CIL project. We are now pleased to share the results of our 2017 Burkina Faso exploration programme as it provides further confidence in the discovery targets set last year and our ability to extend and enhance our mine lives.”

 

"At Houndé, the high-grade drill results obtained at Kari Pump and at the other targets are very encouraging since they are in line with our objective of discovering and delineating higher-grade deposits which can complement production from the main Vindaloo deposit and extend its current 10-year reserve mine life at low AISC with a production profile of more than 200 000 oz of gold per annum," continues Patrick Bouisset, Executive President Exploration and Growth.

 

"We are very pleased with the exploration success achieved at Karma since we acquired the asset in mid-2016. Last year we successfully extended its mine life from eight to beyond 10 years with the addition of North Kao, and the initial results of this year's campaign continue to be very encouraging as they suggest the possibility for further resource delineation. After confirming mineralisation at the Yabongso target, we intend to also drill other selected high priority targets throughout 2018.”

 

Source: https://www.miningreview.com