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May 2017
MODERN MINING
9
MINING News
Teranga Gold Corporation, listed on the
ASX, has announced two new gold dis-
coveries from its exploration programme
at Golden Hill, its joint venture with ASX-
listed Boss Resources in Burkina Faso.
The company’s new discoveries are
located within the Ma and Nahiri pros-
pects, representing the first two of the ten
drill ready targets that have been identi-
fied to date at Golden Hill. All ten targets
are within close proximity to each other.
“The assay results for Ma and Nahiri
are very encouraging for an early stage
exploration programme,” said David Mallo,
Teranga’s Vice President, Exploration.“They
display good grades, widths, continuity
and strike length in each prospect, and the
mineralised zones occur from surface with
good oxide depth developed.”
Additionally, the next two targets – Jack
hammer Hill and Pourey-Peksou – were also
drilled during the first quarter. Teranga says
that while these assay results are pending,
drilling intersected the expected alteration
Two new gold discoveries at Golden Hill
and structures at each of these targets.
“Overall, we are excited by these posi-
tive results, especially given their close
proximity to one another,” said Mallo.
“Based on the success of this first phase,
a multi-drill second phase programme on
these targets has begun.”
The Golden Hill property is located
within the highly mineralised Houndé
greenstone belt in Burkina Faso. This belt
hosts a number of high-grade gold depos-
its, including the recently discovered Siou,
Yaramoko and Houndé deposits. To the
south of Golden Hill is another large land
position where active exploration pro-
grammes are well underway.
Important step forward for Sese Joint Venture
ASX-listed African Energy Resources reports
that Botswana’s Ministry of Finance and
Economic Development has approved the
Sese Joint Venture (JV)'s application for
a Manufacturing Development Approval
Order (DAO) for the proposed 450 MW Sese
power station
Sese Power, the JV entity responsible
for power generation, has been granted
a five-year tax holiday from its first year
of commercial operation and thereafter
a preferential 15 % company tax rate. The
company is now required to enter into a for-
mal tax agreement with the Government of
Botswana which requires the approval of
the National Assembly of Botswana, subse-
quent to which it will become a Statutory
Instrument under the Tax Act.
Approval of the DAO is another
important step towards completing the
permitting of the Sese coal and power proj-
ect, with the Generation and Export Licence
being the only major outstanding permit
required before the project can commence.
The Sese JV is planning the development
of an integrated coal mine and power sta-
tion in Botswana for the delivery of power
to Zambia and neighbouring countries.