BURKINA FASO – Roxgold Inc. of Toronto has received approvals of both its environmental and social impact studies from the government of Burkina Faso. The company calls the event a “milestone” in the permitting process for its Yaramoko gold project 200 km southwest of Ouagadougou.
The company has completed public consultations about the project and is awaiting the receipt of the exploitation (mining) permit and completion of its mining convention. Then Roxgold plans to begin development activities in the fourth quarter of the year.
Meanwhile, detailed engineering studies are underway, and the sourcing of long lead time items has begun. An EPCM contractor will be chosen soon.
The April 2014 resource estimate (all categories with a 5.0 g/t cut-off) includes 2.0 million tonnes of probable reserves that grade 11.83 g/t Au and contain 759,000 oz of gold. There are also 1.6 million indicated tonnes (inclusive of reserves) at 15.80 g/t that contain 810,000 oz, and 840,000 inferred tonnes at 10.26 g/t that contain 278,000 oz of gold.
The feasibility study put average all-in sustain costs of production at US$590/oz. Click here to read it.