Modern Mining September 2017

GOLD

than a dozen regional targets. The objective of the regional programme is to identify addi- tional deposits beyond the initial four included in the Feasibility Study to feed the central mill at Banfora.” Mining will be by way of conventional open-pit mining techniques using drill and blast with material movement by hydraulic excavators and trucks. The project scale suits 110- to 140-tonne class excavators in a back- hoe configuration matched

and 350 000 ounces,” stated Richard Young, President and CEO of Teranga. As detailed in the FS, the mine will have an average annual production of 119 koz over a nine-year mine life at an average all-in sus- taining cost (AISC) of US$843/oz. Over the first five-and-a-half years of operation, average annual production will be somewhat higher at 131 koz (at an average mill grade of 1,88 g/t). Teranga is currently undertaking an infill drill programme aimed at converting inferred resources to reserves. The programme is target- ing inferred resources located adjacent to the current reserve pits. Overall, Teranga antici- pates achieving a conversion rate of between 25 % and 50 % of the inferred resources. “The Banfora project is off to a solid start with an initial after-tax rate of return of 15 % and economics that are anticipated to further improve once the current infill drill pro- gramme is complete and reserves are updated in the first half of 2018,” said Paul Chawrun, Chief Operating Officer of Teranga.

Multiple drill rigs working at the Banfora site.

to 50-tonne class mining haul trucks operating at 5 m bench heights. Following operating procedures similar to Sabodala, an extensive reverse circulation (RC) drill programme is planned to supplement the production blast hole

“Additionally, we are undertak- ing a multi-year exploration programme covering more

Banfora project showing the proposed mine site plan. As can be seen, the largest deposit, Nogbele, is adjacent to the proposed plant site.

September 2017  MODERN MINING  35