SAMIRA HILL
Operations
Samira Hill experienced a good year in 2007, achieving plan with a total production of 79,300 ounces of gold. Efficient operations and stringent metallurgical control saw gold recovery increase to 83% from 80% in 2006.
In 2007, Semafo concluded a sourcing contract with the Niger National Power Grid providing electricity to the Samira Hill property with over 90% efficiency. This new power source resulted in the offset of increased fuel and consumable costs thereby contributing to a substantial reduction in operating expenses.
The 2008 production target for the Samira Hill mine is between 68,000 and 73,000 ounces of gold.
Third Quarter 2008
- During the third quarter of 2008, 329,500 tonnes of ore and 1,376,000 tonnes of waste material were mined from the Libiri pits, resulting in a stripping ratio of 4.2:1. Comparatively, in the third quarter of 2007, 411,000 tonnes of ore and 1,454,200 tonnes of waste material were extracted for a stripping ratio of 3.5:1.
- A total of 371,800 tonnes of ore at an average grade of 1.66 g/t was processed during the third quarter of 2008, compared to 329,700 tonnes at an average grade of 1.99 g/t for the corresponding quarter of 2007. The decrease in grade is mainly due to the processing of ore from a low grade zone in the Libiri pits and stockpiled ore, which is partially offset by the 13% increase in throughput.
- Cash operating cost per ounce increased by 38% compared to 2007.
First Nine Months of 2008 v. First Nine Months of 2007
- During the first nine months of 2008, 1,065,400 tonnes of ore and 4,505,700 tonnes of waste material were extracted from the Samira Main and Libiri pits, resulting in a stripping ratio of 4:1. In the corresponding period in 2007, 1,119,200 tonnes of ore and 4,157,200 tonnes of waste material were extracted for a stripping ratio of 3.7:1.
- A total of 1,095,600 tonnes of ore at an average grade of 1.90 g/t was processed in 2008, compared to 1,089,800 tonnes at an average grade of 1.96 g/t for the same period in 2007.
- The decline in the recovery rate, from 86% for the nine-month period ended September 30, 2007 to 79% during the same period in 2008, is primarily due to higher levels of graphite in the ore processed from the Samira Main pit during the first quarter of 2008.
- The decrease in gold production is mainly due to lower recovery rates during the first quarter of 2008.
Exploration
Recent work demonstrated that the Samira horizon has undergone intense folding and contains several sedimentary paleo-bassins that could contain additional deposits.
Except for follow-up on the Libiri Plateau and Sikia 1 deposits, on-site geologic prospecting and intensive geochemical programs using drilling are underway in 2008. The objective of these programs is to increase inferred resources, which will later become the target of more detailed exploration work.
Activities in the second quarter of 2008 were comprised mainly of drilling and geologic surveys, as well as some test pits on the Samira-Libiri and Saoura properties. Drilling programs are underway in Boundary North, Libiri South, Libiri North and Sikia 2, and will then be carried out around Sikia 1, where some trenches have been completed. Geochemical surveys of termite mounds at Sikia 2 and Libiri South have also been carried out and some anomalies have already been identified.
Community Development
| YEAR |
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| 2007 |
Corporate Social Responsibility Initiatives |
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