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August 2017
MODERN MINING
13
MINING News
Bassari Resources, an ASX-listed company,
has announced that the Presidential Decree
for the Makabingui Exploitation Permit has
been signed by the President of Senegal
and counter signed by the Prime Minister.
Following its recent funding deal,
Bassari says it will now move to finalise
with its project managers the processing
facility plant upgrade (there is an existing
small plant on site) within a short time-
frame with mining of first gold targeted
for the first half of 2018.
“This is a significant milestone for
Bassari and the Makabingui gold project
and we are delighted to have successfully
concluded discussions and negotiations
with the Government of Senegal,”says Alex
Mackenzie, Executive Chairman of Bassari.
“Senegal as a stable democracy has
demonstrated itself to be supportive of
international investment in the mining
industry. From the initial resource discov-
ery at Makabingui to full project approval
and funding we have received support
A number of key contracts were
awarded during the quarter to suppli-
ers of critical goods and services for the
Sissingué operation, including the mining
contract which was awarded to Société
de Forage et de Travaux Public – Mining
SA (SFTP). SFTP is an experienced Malian
mining contractor that currently provides
contract mining services to Newcrest’s
Bonikro gold mine and Randgold’s
Tongon gold mine, both located in Côte
d’Ivoire.
SFTP was also contracted by Perseus to
carry out the bulk earthworks associated
with the construction of Sissingué’s tailings
storage facility, finishing this task on time
and on budget.
Grade control drilling, to be performed
by SFTP as part of the mining contract,
is expected to start in the September
2017 quarter. This drilling will ensure that
approximately three months of grade
control data is available for Perseus’s mine
planning purposes before SFTP com-
mences full scale mining activities on site
in the December 2017 quarter.
Significant milestone for Makabingui
from our many stakeholders and we look
forward to delivering this project over the
coming months.”
The permit is for the development of
the Makabingui project consisting of a
resource of plus 1 million ounces of gold at
2,6 g/t inclusive of the 171 000 ounces of
recovered high grade gold at 5,6 g/t in four
pits to be mined in the initial stage of the
Makabingui development. The permit also
covers the 8-km strike at Makabingui South.
The first phase of open-pit mining will
provide mill feed for a 300 000 t/a plant,
which will average 95 % recovery over the
initial stage of the project.
Bassari recently advised that its team
in Senegal had successfully negotiated a
Term Sheet with the Senegal division of
Coris Bank International, a West African
bank incorporated in Burkina Faso. The
term sheet outlines the key terms and
indicative conditions of a US$12 million
funding facility for the development of
Makabingui through to production.