Roxgold Produces 35,308 Ounces at Yaramoko in First Quarter
Roxgold Inc. (“Roxgold” or the “Company”) (TSX: ROXG) (OTCQX: ROGFF) is pleased to announce its preliminary production results for the first quarter of 2021 (“Q1 2021”) from the Company’s Yaramoko Mine Complex located in Burkina Faso (“Yaramoko”). All amounts are in U.S. dollars unless otherwise indicated.
- Produced 35,308 ounces of gold at an average head grade of 8.0 grams per tonne gold (“g/t Au”) in Q1 2021.
- Reported quarterly plant throughput of 1,419 tonnes per day (“tpd”) for a total of 127,667 tonnes.
- Mined a record 153,256 tonnes from underground in the quarter as operations have adjusted to COVID protocols
- Continued management and mitigation of COVID-19 to minimize impacts on operations with reduced personnel due to travel restrictions and protection protocols.
- Partnered with Franco-Nevada Corporation for the sale of the re-acquired 1.2% NSR on Séguéla with the inclusion of a 3 year buy-back clause for the repurchase of up to 50% of the royalty at a pro rata rate of the AUM$20 million sale price. The sale was cash neutral to Roxgold, while maintaining maximum interest in the project, as Roxgold exercised its right to pre-empt a proposed acquisition of the legacy royalty by an international royalty company.
- Delivered into last gold hedging contract from the original Yaramoko project finance facility – Company is now completely hedge free
- Announced the discovery of the Sunbird prospect at Séguéla, with the first phase of 17 holes returning consistent near surface mineralization with high grade cores characteristic of the developing north-south structure that is host to the high-grade deposits Koula and Ancien.
- Extended Koula mineralized envelope underground drilling a further 120m down-plunge from the previous deepest drilling. Roxgold has now delineated high grade mineralization extending approximately 300m down plunge from the base of the PEA pit shell, with results including 26.5 g/t Au over 16m in hole SGRD1084 and 18.5 g/t Au over 15m in hole SGRD1088.
- Tested additional mineralization corridors at Boussoura, in southern Burkina Faso, announcing the new VC2 prospect, located less than 500m to the west of Fofora Main, with results including 14m at 3.6g/t Au from 44m in BSR-20-RC-FFR-134, 5m at 17.0 g/t Au from 59m in BSR-20-RC-FFR142 and 23m at 2.0g/t Au from 41m in BSR-20-RC-FFR-14.
“Roxgold has continued its long track record of operating excellence with a strong operating quarter at our Yaramoko Mine Complex, whilst our development and exploration teams have continued to have remarkable success advancing and growing our Séguéla Gold Project in Côte d’Ivoire towards a construction decision later this year,” commented John Dorward, President and CEO. “Yaramoko achieved quarterly production of 35,308 ounces, placing the company well on track towards achieving our annual production guidance target of 120,000 to 130,000 ounces. The processing plant continues to outperform, averaging throughput of 1,419 tonnes per day, while underground mining operations reported a record of 153,256 tonnes of ore mined as our teams on the ground have managed to manage and mitigate the operational challenges related to the ongoing COVID-19 pandemic while ensuring a safe and secure working environment for our employees, contractors and local communities.”