KINIERO
Operations
Kiniero is experiencing a good year. For the nine-month period ended September 30, 2008, Kiniero produced a total of 41,800 ounces of gold.
Results from studies conducted in 2007 provided the Company with a better understanding of the geological context of Kiniero’s mineralization and model of the mineral deposits. As a result, Semafo adopted a bulk mining approach aimed at increasing productivity and reducing selectivity without having a significant impact on the grade of ore processed. As well, mining efforts were reoriented primarily to the West Balan pit.
The 2008 production target for the Kiniero mine is between 37,000 and 42,000 ounces of gold.
Third Quarter 2008
- During the third quarter of 2008, 92,200 tonnes of ore were extracted compared to 64,000 tonnes during the same quarter last year. This significant increase is due to a reduction in the stripping ratio, from 18:1 in the third quarter of 2007 to 8.5:1 in the third quarter of 2008. This reduction in the stripping ratio was mainly due to the commencement of operations in the West Balan pit during the last quarter of 2007.
- Throughput increased by 142% in the third quarter of 2008, compared to the corresponding period in 2007. During the third quarter of 2007, throughput decreased due to lack of ore and plant shutdown for maintenance.
- The head grade increased by 70% to reach 3.43 g/t. This significant increase is due to the operations in the West Balan pit, with known reserves of an average grade of 3.1 g/t in saprolite ore.
- A total of 11,900 ounces of gold were produced at Kiniero during the third quarter of 2008, representing a 272% increase over the corresponding period in 2007. This increase is due to the processing of higher grade ore at a higher throughput.
- The 45% reduction in the cash operating cost per ounce is mainly due to the higher head grade and a decrease in the stripping ratio.
First Nine Months of 2008 v. First Nine Months of 2007
- The 45% increase in the quantity of ore extracted is due to the decrease in the stripping ratio, from 18:1 in 2007 to 8.5:1 for the corresponding period in 2008.
- The head grade was 67% higher than the corresponding period in 2007. This significant increase is due to the operations in the West Balan and Gobele C pits, with average grades of 3.1 g/t and 3.8 g/t respectively in saprolite ore.
- A total of 41,800 ounces of gold were produced at Kiniero during the first nine months of 2008, representing a 105% increase over the same period in 2007. This increase is primarily due to the processing of higher grade ore at a higher throughput.
- The 38% reduction in the cash operating cost per ounce is mainly due to the processing of higher grade ore, which was partially offset by the 5% increase in the cash operating cost per tonne.
Exploration
The 2008 exploration program at Kiniero focused mainly on the development of advanced targets located close to the existing deposits, particularly the West Balan B and C blocks.
More than 5,000m of RC drilling for certification was completed on the B and C blocks, in the second quarter of 2008. The primary mineralization still extends from section 7662.5N to section 7000N – more than 660m. In addition, the mineralized zone remains extensive and presents high grade in-depth, maintaining the bedrock potential, which requires further investigation. The intersections observed show a type of mineralization that could be modelled by 3m composites, as was done for the A block of the current West Balan pit, and could be worked using a bulk mining approach. This program also revealed potential through a mostly-thin parallel structure of high-grade ore. This structure is located approximately 125m northwest of the main structure; however, it has not yet undergone certification.
The geophysics pole dipole program, which was begun on the West Balan North-East and South-West extensions, is expected to cover over 18km. Results are encouraging for the first four lines, in the North-East segment. The survey was completed in July. Preliminary results for the North-East portion demonstrate the existence of an anomaly that will have to be tested by drilling.
In the Kb Zone, immediately to the west of Zone C, two trenches have been completed and sampled. These trenches cut through two mineralized zones with intersections of 7m at 7.14 g/t, 6m at 4.24 g/t and 6m at 7.93 g/t, among others. The principal mineralization is organized into several small N05° to N10° orientation quartz and oxide structures that are located near or stem from a major vein of N50° to N60° orientation. Work to determine the exact orientation of the main structure continues.
With regards to the geochemical surveys of termite mounds, the Djikouroumba Extension program began on April 18th. The West and West Mankan extensions have been completed, for a year-to-date total of 9,940 samples.
Since the start of the year, RC drilling has covered a total of 17,200m.
Community Development
| YEAR |
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| 2007 |
Corporate Social Responsibility Initiatives |
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