A summer drill program has expanded the newly discovered Libdorado gold zone and potentially added to the existing resource base at the Samira Hill/Libiri project in Niger, West Africa.
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Selected results from the recent program include: 3.5 grams gold per tonne over 31.5 metres (including 8.11 grams over 6 metres); 3.26 grams over 15 metres; 2.97 grams over 12 metres; 2.9 grams over 25.5 metres; 2.6 grams over 45 metres; and 2.25 grams over 34.5 metres.
The new zone has been traced for 430 metres with widths of more than 20 metres and remains open at depth and along strike. It is expected to add to existing resources at the Libiri deposit, which, at last report, stood at 11.7 million tonnes grading 2.07 gram gold per tonne, based on a 1-gram cutoff grade.
Oxide and transitional zones at the nearby Samira Hill deposit total 6.6 million tonnes grading 2.4 grams, based on an average stripping ratio of 3.06-to-1.
A revised feasibility study was tabled this past summer for a combined operation exploiting the Samira Hill and Libiri deposits at a milling rate of 6,000 tonnes per day. Once commercial production begins, the mine is expected to produce 130,000 oz. annually for the first three years, and between 70,000 and 80,000 in each of the following three years.
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