Boungou Development

Development

Boungou is a high-grade gold deposit located in the Est region in southeastern Burkina Faso. Construction is underway with first gold pour scheduled for the third quarter of 2018.

Highlights

  • Mining: Open pit
  • Processing: 4,000 tpd /CIP plant
  • Mine life: +8 years*
  • Capital expenditures: $231 million
  • During the five-year period from 2019 to 2023, we target
    • Average production of + 204,000 oz
    • Average all-in sustaining cost of $516/oz                 
  • Ownership: 90%

*based on year-end 2017 mineral reserves and resources.

 

2018 Update

At the end of February, construction of the mine was 87% complete and $182 million of the $231 million capital expenditure had been incurred.

Construction of the processing plant is progressing well, and almost 70% of the pre-strip material has already been moved from the pits. Almost 95% of the structural steel has been effected, the power plant is already partially operational, and the assay laboratory fully operational.  We are proud to highlight that a total of 4.5 million man-hours has been worked to date without lost-time injury.

 

Construction Schedule as of February 28, 2018

Geology

The Boungou permit, which contains the Boungou deposit, lies within the Diapaga Greenstone Belt, a northeast-southwest orientated belt that extends over 250 kilometers in length and over 50 kilometers in width. SEMAFO holds four contiguous permits, collectively known as the Tapoa Permit Group, covering approximately 70 kilometers in strike length along the Diapaga belt. Laterite and alluvium cover extensive (lateral) portions of the permit however both are generally less than 10 meters in thickness.

2018 Exploration

A budget of $9 million has been allocated to an exploration program comprising 42,000 meters of RC and 60,000 meters of auger drilling. The bulk of the RC drill work will test regional gold anomalies on the Boungou proximal, Dangou, Pambourou and 045 Trend Sectors.

More on the 2018 programme