SEMAFO: Construction of Boungou Mine on Schedule
17 Luglio 2017 - 1:59PM
Infill Drilling
Results at Boungou In-Line with Resource Model
Montreal, Quebec,
July 17, 2017 - SEMAFO Inc. (TSX, OMX: SMF) today announced
that construction of the Boungou Mine in Burkina Faso was
progressing well and is on-budget for commissioning of the open-pit
mine in the second half of 2018.
As at June 30, 2017, the following
key components had been advanced:
- Development on schedule with $69
million spent
- Construction of the mine 35%
complete
- Concrete works are progressing on
the SAG, vertimill, crusher and surge bin foundations
- Erection of the leach and water
tanks has commenced
- On-site delivery of the
vertimill, the first long-lead item
- Work has commenced on the power plant and fuel
depot
- Water storage facility has been
excavated and is ready to collect 2017 rainwater
- Pre-strip mining at the Boungou
deposit has commenced
- Construction of the resettlement
village 65% complete
- 1,540 personnel including
contractors were employed on site, 93% of whom are Burkinabe
- million man-hours have been
worked without lost-time injury
The table below presents the
construction milestones for the Boungou Mine and their level of
completion:
http://hugin.info/173107/R/2120758/807988.PNG
To follow the construction
progress, please view the following link to the Boungou Mine photo
and video gallery on our website:
http://www.semafo.com/English/news-and-media/Natougou-Media-Page/default.aspx
Infill Drill
Results from West and East Flank Sectors of Boungou
During the second quarter of 2017, a total of 23,700 meters was
drilled in 156 holes, completing the infill programs (40-meter by
40-meter hole spacing) on the West and East Flank Sectors, with
49,400 meters in 326 holes, of the Boungou reserves pit. Results
continue to be in line with the 80-meter x 80-meter model. The East
Flank, although much smaller, has a similar structure to that of
the West Flank.
The geotechnical drilling program
on the East and West Flanks has also been completed. Samples have
been sent to Rocklab in South Africa to establish engineering
parameters.
The following table provides the
highlights of the infill assay results received in the second
quarter of 2017:
BHID |
From |
To |
Length1 |
Au g/t |
Zone |
TPA1068 |
140.0 |
148.0 |
8.0 |
5.65 |
West
Flank |
TPA1069 |
168.0 |
174.0 |
5.0 |
4.52 |
West
Flank |
TPA1070 |
164.0 |
170.0 |
6.0 |
9.482 |
West
Flank |
TPA1077 |
153.0 |
158.0 |
5.0 |
5.14 |
West
Flank |
TPA1111 |
112.0 |
118.0 |
6.0 |
3.83 |
East
Flank |
TPA1118 |
117.0 |
124.0 |
7.0 |
6.28 |
East
Flank |
TPA1122 |
140.0 |
146.4 |
6.4 |
4.55 |
West
Flank |
TPA1124 |
141.0 |
146.0 |
5.0 |
5.17 |
West
Flank |
TPA1125 |
116.0 |
126.0 |
10.0 |
3.34 |
East
Flank |
TPA1126 |
148.0 |
154.6 |
6.6 |
5.19 |
West
Flank |
TPA1130 |
144.0 |
148.0 |
4.0 |
5.39 |
East
Flank |
TPA1133 |
140.0 |
151.0 |
11.0 |
6.402 |
East
Flank |
TPA1136 |
115.0 |
120.0 |
5.0 |
6.13 |
East
Flank |
TPA1137 |
117.0 |
124.0 |
7.0 |
3.20 |
East
Flank |
TPA1138 |
138.0 |
146.0 |
8.0 |
3.27 |
East
Flank |
TPA1139 |
155.0 |
162.0 |
7.0 |
3.88 |
East
Flank |
TPA1140 |
106.0 |
110.0 |
4.0 |
4.97 |
West
Flank |
TPA1141 |
108.0 |
121.0 |
13.0 |
2.13 |
East
Flank |
TPA1145 |
122.0 |
129.0 |
7.0 |
3.53 |
East
Flank |
TPA1149 |
86.0 |
93.0 |
7.0 |
4.14 |
East
Flank |
TPA1151 |
168.0 |
176.0 |
8.0 |
4.76 |
East
Flank |
TPA1152 |
173.0 |
182.0 |
9.0 |
2.36 |
East
Flank |
TPA1161 |
118.0 |
126.0 |
8.0 |
5.98 |
East
Flank |
TPA1166 |
80.0 |
87.0 |
7.0 |
4.04 |
East
Flank |
1 All lengths
are along the hole axis, and the true thickness is over 80% of the
given length.
2 Capped at 45
g/t Au
Michel Crevier, P.Geo MScA,
Vice-President Exploration and Mine Geology, is SEMAFO's Qualified
Person and has reviewed this press release for accuracy and
compliance with National Instrument 43-101.
About
SEMAFO
SEMAFO is a Canadian-based mining
company with gold production and exploration activities in West
Africa. The Corporation operates the Mana Mine in Burkina
Faso, which includes the high-grade satellite deposit of Siou, and
is targeting production start-up of the Boungou Mine in the second
half of 2018. SEMAFO's strategic focus is to maximize
shareholder value by effectively managing its existing assets as
well as pursuing organic and strategic growth opportunities.
CAUTION
CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and assumptions and accordingly, actual results and
future events could differ materially from those expressed or
implied in such statements. You are hence cautioned not to place
undue reliance on forward-looking statements. Forward-looking
statements include words or expressions such as "progressing well",
"on- budget", "in line with", "targeting", "pursuing", "growth",
"opportunities" and other similar words or expressions. Factors
that could cause future results or events to differ materially from
current expectations expressed or implied by the forward-looking
statements include the ability to commission the open-pit Boungou
Mine in the second half of 2018, the ability to meet all the
construction milestones for the Boungou Mine in 2017 and 2018, the
ability to execute on our strategic focus, fluctuation in the price
of currencies, gold or operating costs, mining industry risks,
uncertainty as to calculation of mineral reserves and resources,
delays, political and social stability in Africa (including our
ability to maintain or renew licenses and permits) and other risks
described in SEMAFO's documents filed with Canadian securities
regulatory authorities. You can find further information with
respect to these and other risks in SEMAFO's 2016 Annual MD&A
as updated in SEMAFO's 2017 First Quarter MD&A, and other
filings made with Canadian securities regulatory authorities and
available at www.sedar.com. These documents are also available on
our website at www.semafo.com. SEMAFO disclaims any obligation to
update or revise these forward-looking statements, except as
required by applicable law.
The information in this release is
subject to the disclosure requirements of SEMAFO under the
Swedish Securities Market Act and/or the
Swedish Financial Instruments Trading Act.
This information was publicly communicated on July 17, 2017 at 7.00
a.m., Eastern Daylight Time.
For more information, contact
SEMAFO
Robert LaVallière
Vice-President, Corporate Affairs & Investor
Relations
Cell: +1 (514) 240 2780
Email: Robert.Lavalliere@semafo.com
Ruth Hanna
Analyst, Investor Relations
Email: Ruth.Hanna@semafo.com
Tel. local & overseas: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
Website: www.semafo.com
Press release (PDF)
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: SEMAFO Inc. via Globenewswire
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