Roxgold gold production at the upper end of annual guidance
VANCOUVER, BC – Roxgold has announced that its mining activities in the third quarter totalled 109,737 tonnes of ore mined at an average mined grade of 8.9 g/t gold (includes marginal ore mined totalling 14,811 tonnes at a grade of 2.2 g/t) and 1,146 metres of waste development.
The lower mining activity was due to Yaramoko continuing to operate with reduced personnel due to COVID-19 travel restrictions and protection protocols.
Roxgold is a Canadian-based gold mining company with assets located in West Africa. The company owns and operates the high-grade Yaramoko Mine Complex located on the Houndé greenstone belt in Burkina Faso and is also advancing the development and exploration of the Séguéla Gold Project located in Côte d’Ivoire.
During the quarter, the 55 Zone mined 70,581 tonnes at higher grades at depth with an average mined grade of 9.9 g/t and Bagassi South mine contributed 39,185 tonnes at a grade of 7.1 g/t.
The mining tonnage was attributable to the ramping up of stoping activities at the Bagassi South mine in Q3, with stoping operations expanding as more development levels were completed offset by reduced personnel due travel restrictions associated with the COVID-19 travel restrictions and protection protocols. During Q3 2020, approximately 69% of ore produced came from stoping activities and 31% from development.
Decline development at the 55 Zone mine reached the 4714 level, approximately 600 metres below surface. Ore development continued down to 4734 level and on the eastern extensions of the 4862 and 4879 levels.
The development of the Bagassi South decline reached the 5044 level and ore development commenced on the 5061 level, which is approximately 270 metres below surface. Good progress on development has seen the Bagassi South mine largely developed with decline development completed at the end of September. Ore development will continue on the 5044 level and operations will be more focussed on stoping activities in Q4 2020.
Mine reconciliation performance between the Mineral Reserve and Grade Control model was 110% for tonnes and 105% for grade in the third quarter of 2020.
The Company’s gold production in Q3 2020 was 33,557 ounces compared to 33,306 ounces in Q3 2019. The plant processed 131,029 tonnes at an average head grade of 7.7 g/t in Q3 2020 compared to 114,036 tonnes of ore at 9.1 g/t in Q3 2019.
There was an increase in the processing of stockpiled material with 36,201 tonnes of low-grade stockpile at an average grade of 3.1g/t processed to supplement the mined ore as Yaramoko operated with reduced personnel due to COVID-19 travel restrictions and isolation protocols in Q3 2020.
The processing plant availability was 97.4% in the quarter compared to 93.2% in Q3 2019 and reported an average throughput rate of 1,424 tonnes per day exceeding nameplate capacity by approximately 29%. Plant recovery was 98.2% in Q3 2020 compared to 98.0% for the comparative quarter.
The Yaramoko Gold Mine continued to maintain a low cash operating cost of $158 per tonne processed driven by increased throughput and focus on cost control.
2020 OPERATING OUTLOOK
- Gold production between 120,000 and 130,000 ounces
- Cash operating cost between $520 and $580/ounce
- All-in sustaining cost between $930 and $990/ounce
- Non-sustaining capital spend of $5-$10 million
- Growth spend (includes Exploration and Séguéla study spend) of $20-$25 million
PRODUCTION
Based upon Q3 production results, Roxgold is on track to deliver at the upper end of annual gold production guidance from Yaramoko.
