Modern Mining August 2017

MINING News

Significant milestone for Makabingui

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. 

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

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. 

August 2017  MODERN MINING  13