KINIERO
Operations
2008 vs. 2007
During the year ended December 31, 2008, 573,300 tonnes of ore and 4,578,000 tonnes of waste material were extracted compared to 384,500 tonnes of ore and 5,836,500 tonnes of waste material during 2007. This represents a stripping ratio, of 8:1 for 2008, compared to 15:1 in 2007. This reduction was mainly due to the mining of the West Balan pit which has a lower strip ratio.
Throughput increased by 20% in 2008 compared to 2007, at which time to lack of ore and plant shutdown for maintenance resulted in decreased throughput.
The head grade increased by 63% to reach 3.24 g/t. This significant increase is primarily due to the operations in the West Balan pit, with known reserves of an average grade of 3.1 g/t in saprolite ore. Additionally, in 2007, inaccuracies in the geological models, development of new pits and a national strike, necessitated the processing of lower-grade stockpiled ore.
A total of 51,700 ounces of gold were produced at Kiniero during 2008, representing a 91% increase over 2007.
Exploration
The main objective of our 2008 exploration program at Kiniero was to convert part of the West Balan extension into reserves thereby including this pit in our 2009 mine plan.
Our program was successful and added more than 46,000 ounces in reserves in the West Balan area, representing the main ore source of our 2009 mine plan. Work performed in 2008 included 20,000 meters of RC drilling on the West Balan extension.
At year-end, we also carried out a 900-meter infill and validation drilling program on the SGA zone (Zone Gobele A, which includes Gobele A, Gobele A North, Gobele B and Gobele B South). Some twin holes confirmed mineralization, but at a lower grade and infill, unfortunately restricting ore bodies and therefore leading to a decrease in reserves and strip ratio.
In 2008, we also performed IP surveys (gradient and pole-dipole) generating new drilling targets on both sides of the West Balan pits.
As at December 31, 2008 our mineral reserves at Kiniero totaled 236,400 ounces of gold and our resources totaled 669,100 ounces.
Community Development
| YEAR |
DESCRIPTION |
FORMAT |
SIZE |
VIEW |
| 2008 |
Corporate Social Responsibility Initiatives |
PDF |
741kb |
 |
| 2007 |
Corporate Social Responsibility Initiatives |
PDF |
504kb |
|
|
