TORONTO, Oct. 16, 2018 /CNW/ - Roxgold Inc. ("Roxgold" or the "Company") (TSX: ROXG) (OTC: ROGFF) is pleased to announce its 2018 third quarter ("Q3") and first nine month ("YTD 2018") production results from the Company's Yaramoko Gold mine located in Burkina Faso ("Yaramoko").
Highlights:
- 30,532 ounces of gold produced in Q3 driven by record quarterly processing throughput of 78,357 tonnes – 15% above nameplate capacity
- 106,812 ounces of gold produced YTD 2018 which puts the Company in a strong position to achieve the upper end of its guidance range of 120,000 – 130,000 ounces for the full 2018 year
- Receipt of all permits and decrees required for Bagassi South mining and the process plant expansion
- Construction works at Bagassi South continue on schedule and remains on track for delivery of first ore in late Q4 2018
- Operating seven drill rigs currently at Yaramoko targeting extensions to the 55 Zone – six from surface and one from underground
"We continue to see consistently solid operating performance at Yaramoko with gold production of 106,812 ounces for the first nine months, positioning us well to meet the upper-end of our 2018 guidance range of producing between 120,000 to 130,000 ounces. With ongoing optimization activities at the plant, this quarter also saw record quarterly throughput representing 15% above nameplate capacity," stated John Dorward, President and CEO of Roxgold. "Our Bagassi South expansion project continues to make excellent progress as both the construction of the process plant expansion and mine development at Bagassi South, our second high-grade underground gold mine, continue to be on schedule with first ore expected by the end of the year."
Operating Highlights:
The 55 Zone produced 87,975 tonnes of ore at 10.74 g/t Au along with completing 1,221 metres of development. In Q3, approximately 80% of ore produced came from stoping activities as a result of extensive development with four open stopes available at the end of the quarter. The plant processed record throughput of 78,357 tonnes at an average head grade of 12.3 g/t Au for the quarter. Plant availability was 94.9% and overall recovery was 98.5% during the quarter. Importantly, the unit throughput rate at the plant has steadily increased over the last six quarters as a result of ongoing optimisation to be at 15% above nameplate capacity for Q3.