Modern Mining May 2016

MINING News

ing work in Côte d’Ivoire, where drilling at Gbongogo has confirmed a large intrusion hosted stockwork. Around Kibali work is identifying multiple mineralised shoots around KCD. “We’re also steadily expanding our footprint in our target areas, most recently through the Moku joint venture adjacent to Kibali. Over at the Ngayu belt, 200 km to the SW of Kibali, we are preparing to fly a helicopter VTEM survey over recently signed joint ventures and we continue our regional research pro- grammes across West and Central Africa. We keep strengthening our social licence through constructive engagement with and commitment to our host countries and communities,” Bristow said. “With our strategy, plans and pro- jections intact, we are able to continue delivering value at current and even lower gold price levels. We’re quite bullish about gold’s medium to long termprospects, and when the cycle turns, the work we do now will have equipped us to capitalise fully on the upside.” 

Reserves grow at Twangiza and Namoya Canada’s Banro Corp reports that the annual review of mineral resources and mineral reserves at its four core gold projects in the DRC, Twangiza, Namoya, Lugushwa and Kamituga, has resulted in a replacement of depleted ore and an increase in mineral reserves at Twangiza and Namoya, its two operating mines.

Banro’s overall mineral reserves have grown by 9 % to 3,18 Moz of gold (48,61 Mt at 2,03 g/t Au) at a US$1 200/oz gold price. The total measured and indicated mineral resources for all its properties are 7,04 Moz of gold (141,94 Mt at 1,54 g/t Au) while inferred mineral resources total 5,08 Moz of gold (93,29 Mt at 1,70 g/t Au). During 2014, the company scaled down its exploration activities at its Twangiza, Namoya, Lugushwa and Kamituga proj- ects and focused its geological expertise in supporting production growth at Twangiza and mine development at Namoya, and further identification of near mine high grade targets. In order to consolidate Banro’s position on the various exploration sites, some lim- ited exploration activities were carried out during 2015 using small teams focused on generating new oxide targets at Lugushwa and Kamituga. 

The Twangiza proven and probable mineral reserves increased by 11 % to 1,82 Moz of gold (27,67 Mt at 2,05 g/t Au) after depletion due to changes in cut-off grade, reversal on bulk density and revi- sion of the pit design. This gives Twangiza a 14-year mine life. At the Namoya property, the proven and probable mineral reserves have increased by 7 % to 1,36 Moz of gold (20,94 Mt at 2,02 g/t Au) after depletion, revision of the pit designs, addition of gold-in-pro- cess and additional drilling results at the Namoya Summit – Filon B portion of the Namoya Summit deposit.

May 2016  MODERN MINING  9