Bomboré: a large multi-phase deposit

One of the largest undeveloped oxide gold deposit in West Africa

  • Near-surface, large tonnage, low grade gold deposit
  • An updated mineral resource is expected by September 2016
  • The project is fully permitted

12 Moz discovery track record

Team has a 20 year, 12 Moz track record of discovery and development success in Burkina Faso

Investment Highlights

  • Bomboré is one of the largest undeveloped gold deposit in the region that can be developed in stages starting with a Phase I oxide-only, combined Heap Leach and CIL facility to process only the softer near surface material.  This is expected to be a low cost, low strip ratio scenario yielding higher and more reliable recoveries than heap leach only scenario
  • The oxide resource averages 50 m in depth and for the most part remains open along the 11 km strike length
  • The sulphide resources occur directly below the oxide, have been drilled to an average depth of 120m and remain open along strike and at depth.  The company envisions expanding the Phase 1 facility to including crushing, grinding and additional leach tanks for the processing of the sulphide material.  Conceptually, the Phase 2 expansion would occur after the payback of Phase 1 or potentially at any time at higher gold prices.  Drilling, blasting, crushing, grinding and higher consumption of regents all add to the costs of operating a sulphide circuit and would be factored into any economic decision to commence Phase 2
  • The project is located 85 km east of Ouagadougou, the capital of Burkina Faso and adjacent to the principle highway
  • The project is fully permitted
  • The Feasibility study released April 2015 has been withdrawn pending an update to the reserves.  Any update to the study may include other positive changes that have occurred since 2015, including amongst others, a lower fuel price, improved foreign currency exchange ratios, cost of consumables, savings in the initial capital requirements etc.
  • Although the company is well financed, a full project financing is required to construct any operation at Bomboré.