Mana Project

2017 Exploration Program

In 2017, exploration activities at Mana include a discovery drilling program that has the aim of identifying near-site satellite deposits. The initial exploration budget for Mana has been set at $5 million and will include 80,000 meters of auger, 15,000 meters of reverse-circulation and 4,500 meters of core drilling designed to confirm or expand mineralization within trucking distance of the Mana Mine. Approximately $1 million of the 2017 budget has been assigned to testing the underground potential at Siou.

Exploration drilling at Mana in the second quarter targeted the Siou deposit at depth. Year to date, a total of 49 holes (17,400 meters) mainly tested the southern part of the Siou mineralized structures at depth up to 50-meter by 50-meter spacing, including 8 holes (2,800 meters) for geotechnical studies. The delineation program was completed in July 2017. The objectives of this program are to expand the resources at Siou, convert inferred resources into the indicated category and complete a prefeasibility study in the first quarter of 2018.

The following table provides the highlight of assay results received in the second quarter of 2017:

BHID From To Length Au
g/t
Au Capped
(40 g/t Au)
Zone
WDC928 286 310.95 24.95 2.38

 

9
WDC931 337 348.9 11.9 8.21 7.45 9
WDC933 301 346.7 45.7 4.12 3.90 9
WDC934 338 346.7 8.7 5.35 5.26 9
WDC938 351 355.3 4.3 30.60 21.77 9
WDC939 376.6 386.7 10.1 5.73 5.50 56
WDC940 340.5 351.5 11.0 5.10 5.04 56

Under the regional program, a total of 33,000 meters of auger drilling was carried out in the first half of 2017 over the Mana Ouest, Fobiri II and Bara permits.