Roxgold announces positive results of the feasibility study for the Bagassi South Project located on the Company’s Yaramoko concession in Burkina Fasso. The Feasibility Study envisions a satellite underground operation at Bagassi South and an expanded processing facility at Yaramoko. All amounts stated in this news release are in U.S. dollars unless otherwise indicated.
“The Bagassi South expansion adds substantial value to Roxgold by increasing Yaramoko Gold Project gold production by approximately 40% to over 150,000 ounces in the near term. Like the neighbouring 55 Zone, the economics of this additional high grade feed source are highly accretive and generate increased cashflow from a modest capital outlay. Consistent with our commitment to offer accretive growth while managing dilution, this expansion will be funded from our own balance sheet without the need for additional equity from our shareholders. In addition, work is already underway to extend the mine life at Bagassi South through the current infill and extensional drilling program on the QV Prime structure,” stated John Dorward, President and CEO.
Roxgold is a gold mining company with its key asset, the high grade Yaramoko Gold Mine, located in the Houndé greenstone region of Burkina Faso, West Africa.