The Hassaï mine — made up of twelve open pits that have been mined since 1992 in the Red Sea Hills desert of northeastern Sudan, about 450 km from Khartoum — is Sudan’s first and only gold mine. Montreal-based La Mancha (LMA-T) manages the mine and owns 40% of it.
Now the Canadian gold producer is making headway identifying six targets where the volcanogenic massive sulphide VMS structures are visible at the bottom of the previously-mined pits.
Today the company released a National Instrument 43-101 inferred resource on the first of the VMS targets the company has pinpointed and those numbers drove up La Mancha’s share price 20.7% or 24¢ to close at $1.40 per share.
The Hassai pit has an inferred resource of 20.15 million tonnes tonnes (8.06 million tonnes attributable to La Mancha) grading 1.55 grams gold per tonne, 1.48% copper and 0.18% zinc.. Material
Those numbers add up to about 1 million ounces of contained gold, of which 402,400 ounces are attributable to La Mancha. They also represent 297,000 tonnes of copper, of which 118,800 tonnes are attributable to La Mancha
The gold equivalent of the copper resource represents 1.68million ounces of gold (672,000 ounces attributable to La Mancha) using a long-term gold price of US$750 per oz., long-term copper price of US$2 per lb. and a zinc price of US$1,911 per tonne.
Exploration work launched in December 2007 has confirmed that an enriched supergene zone exists at the top of the structure and the resource remains open at depth. On average, the resource is contained between the Hassaï pit floor and the 300-meter level.
La Mancha maintains that the Hassaï mining district is one of the world’s premier areas for the exploration and development of polymetallic volcanogenic massive sulfide deposits.
La Mancha operates three producing gold mines. It owns 40%of the Hassai mine in Sudan, 49.5% of the Ity mine in Cote d’Ivoire, and 51% of the Frog’s Leg mine in the Kalgoorlie area of Australia.
Last year Hassai produced 29,270 ounces of gold, Ity produced 24,995 ounces; and Frog’s Leg 15,375 ounces.
Be the first to comment on "First resource for La Mancha’s Hassai pit in Sudan"