Drilling to start at Odienne Drilling starts very shortly. Geoscience team is on the ground preparing the final stages. Will be a very high impact drill campaign. Hoping to see 1 mm ounces prived up and thus move us to a similar valuation pinecrest. That would be 65 to 70 cents Cad.
Should be a very exciting late summer run. And dip in the share price is a buying opportunity imo. How many management teams price options over the share price too?! Unique and very much appreciated as a private investor
Ivory Coast is starting to have some really good results in the approximate area where drilling is set to begin soon. See the project update below and drill results from a few days back
SGULA GOLD PROJECT The Sgula Gold Project is located in Cte d’Ivoire and was acquired by Roxgold in April 2019. The Project is located approximately 240 kilometres north-west of Yamoussoukro, the political capital of Cte d’Ivoire, and approximately 480 kilometres north-west of Abidjan, the commercial capital of the country. The Sgula Project consists of the resource-defined, near surface Antenna, Agouti, Boulder and Ancien deposits that are ideally located near existing infrastructure including grid power, transport and water resources. There are an additional 22 highly prospective targets within a total land package of 36,300 hectares with drilling ongoing. A Preliminary Economic Assessment was announced for Sgula in April 2020 which outlined a robust project capable of delivering over 100,000 ounces of gold per year over 8 years at average All-In Sustaining Costs of $749/oz. In the first three years of production, the PEA envisions the project will produce an average of 143,000 oz/yr at AISC of $600/oz. Sgula is expected to generate significant cash flow for Roxgold with an estimated NPV5%,A/T of $268 million and IRR of 66% at a gold price assumption of $1,450/oz. Highlights of the PEA are as follows:
IF ARIC can price up just 1 mm ounces at Odienne alone as see from the above economic assessment study it would be a home run MC and cash flow wise for ARIC imo
Rox Gold drill results from late last week. So yes by Odienne weather is NOT slowing down drilling.
Roxgold drills 14 m of 13.3 g/t Au at Seguela 2020-07-23 06:07 ET - News Release Mr. John Dorward reports ROXGOLD RETURNS HIGH GRADE EXPLORATION RESULTS FROM SEGUELA GOLD PROJECT Roxgold Inc. has released further infill and extension drilling results from the company's Seguela gold project located in Ivory Coast. Seguela satellite prospects Seguela gold project, Ivory Coast Highlights from reverse circulation (RC) and diamond (DD) drilling: Ancien: 14 metres at 13.3 grams per tonne gold in drill hole SGRD732 from 71 m including: Four m at 24.5 g/t Au from 71 m; Two m at 18.8 g/t Au from 82 m; 35 m at 5.5 g/t Au in drill hole SGDD066 from 136 m including: Three m at 23.1 g/t Au from 137 m; Three m at 23.4 g/t Au from 154 m; Five m at 35.6 g/t Au in drill hole SGRD731 from 61 m including: Three m at 54.8 g/t Au from 63 m; Nine m at 2.2 g/t Au in drill hole SGRD735 from 78 m: 13 m at 5.6 g/t Au from 95 m; 10 m at 3.9 g/t Au in drill hole SGRC745 from 61 m. Antenna North: 15 m at 2.8 g/t Au in drill hole SGRC807 from 15 m; Seven m at 3.0 g/t Au in drill hole SGRC812 from 26 m; Three m at 5.4 g/t Au in drill hole SGRC813 from 19 m; Five m at 7.5 g/t Au in drill hole SGRC815 from 20 m; Four m at 6.8 g/t Au in drill hole SGRC816 from 24 m. "The exploration successes we continue to demonstrate at Seguela builds our confidence that the feasibility study, due for completion early next year, will outline a larger more robust project than what was defined in the preliminary economic assessment," stated John Dorward, president and chief executive officer. "The continuing high-grade results from infill and extension drilling at Ancien further underpin the high-grade, high-value contribution potential of the deposit to the mine plan. With four rigs currently turning, I am confident that we will continue to unearth further upside from the existing four deposits, while preliminary testwork on a suite of early-stage targets on the property has demonstrated encouraging results and will be accelerated for drill testing later this year." Paul Weedon, vice-president, exploration, commented: "The infill results of the high-grade core of Ancien continue to support the excellent continuity we see from section to section, following on from the high-grade results released on June 26, which included 20 m at 28.0 g/t from SGRD730. With two RC/DD rigs continuing to test and infill depth extensions beyond the PEA conceptual pit, I am confident we will see further upside emerge from Ancien. In addition to the Ancien results, we have received very encouraging shallow infill results from the Antenna North satellite pit, extending mineralization further north within the PEA conceptual pit." Seguela project Exploration activities have continued to progress to extend and infill the existing inferred mineral resources close to Antenna to support the feasibility study. Agouti, Boulder and Ancien are within six kilometres of the Antenna deposit. Ancien Results from an additional 14 RC/DD holes have been received from Ancien, bringing to a total of 81 holes completed at Ancien since the drill hole data cut-off date (Feb. 12, 2020) used to support the inferred resource estimate in the PEA of 261,000 ounces (refer to company release dated April 14, 2020). These most recent results reflect the two objectives of the current program, namely a dedicated tightly spaced infill program for geostatistical support of the very high-grade and continuous nature of the core Ancien mineralization, and targeting depth and strike extensions to the high-grade core beyond the PEA (preliminary economic assessment) $1,550-(U.S.)-per-ounce conceptual shell. The results from the final four of six holes of the high-grade infill program reinforce the broad nature of the high-grade intervals previously intersected, both along strike as well as across the mineralized zone, and correlate well with the high levels of visible gold logged in the samples. These close-spaced infill results support the high-grade tenor of the deposit and provide a strong degree of confidence in the geostatistical and geological continuity of the high-grade core. Infill drilling below the conceptual pit base returned 35 m at 5.5 g/t from SGDD066 in the centre of the high-grade core while, in an area previously modelled as waste in the conceptual pit, extension drilling returned 10 m at 3.9 g/t Au from SGRC745 and five m at 2.5 g/t Au from SGRC744, extending mineralization an additional 25 m to the south where it remains open. Highlights from the most recent drilling at Ancien include: Infill drilling: 14 metres at 13.3 grams per tonne gold in drill hole SGRD732 from 71 m including: Four m at 24.5 g/t Au from 71 m; Two m at 18.8 g/t Au from 82 m; 35 5.5 g/t Au in drill hole SGDD066 from 136 m including: Three m at 23.1 g/t Au from 137 m; Three m at 23.4 g/t Au from 154 m; Five m at 35.6 g/t Au in drill hole SGRD731 from 61 m including: Three m at 54.8 g/t Au from 63 m; Nine m at 2.2 g/t Au in drill hole SGRD735 from 78 m: 13 m at 5.6 g/t Au from 95 m; 12 m at 2.3 g/t Au in drill hole SGRD734 from 73 m; 20 m at 1.0 g/t Au in drill hole SGRC738 from 172 m. Extension drilling: 10 m at 3.9 g/t Au in drill hole SGRC745 from 61 m; Five m at 2.5 g/t Au in SGRC744 from 32 m. Antenna North An infill program designed to upgrade the drill spacing of the Antenna North deposits to indicated spacing has been completed, with encouraging shallow results including: 15 m at 2.8 g/t Au in drill hole SGRC807 from 15 m; Seven m at 3.0 g/t Au in drill hole SGRC812 from 26 m; Three m at 5.4 g/t Au in drill hole SGRC813 from 19 m; Five m at 7.5 g/t Au in drill hole SGRC815 from 20 m; Four m at 6.8 g/t Au in drill hole SGRC816 from 24 m. Seguela regional reconnaissance Mapping and reconnaissance sampling at Seguela continue to emphasize the regional prospectivity of the property package with several prospects identified where rock chip samples recorded several instances of high-grade visible gold. In addition to continuing detailed field mapping, auger drilling is under way targeting the southern extensions of key favourable structural corridors that host the Antenna, Ancien-Boulder-Agouti and Elephant-Kwenko North mineralization. Follow-up scout RC drilling is planned in the second half of the year across these prospects.
The upside is massive for ARIC. Drilling is days to a few weeks away at most.