Bassari Resources scores well in Makabingui Study

THE DRILL SERGEANT: Bassari Resources (ASX: BSR) has received results from a recently-completed Scoping Study conducted at the company’s Makabingui gold project in Senegal, West Africa.

The Study has described the project as being robust, which has been received well by the company as it looks to commence production by mining four high-grade pits within the one million ounce Makabingui gold resource.

Bassari said the study has identified Makabingui to have the potential to deliver high gold grade, high processing recovery, strong cash flow at a low capital cost, with infrastructure already established.

The Study has demonstrated Makabingui to stand up as both an economic and technically viable project by way of operating conventional open-cut mining from four high-grade pits in conjunction with a simple processing path utilising gravity and Carbon In Leach methodology.

 

Mine plan view showing pits and waste dump. Source: Company announcement

 

Using a gold price of US$1200 per ounce the Sudy calculated:

Annual production of approximately 50,000 ounces of gold;

Gold grade to the mill of greater than six grams per tonne gold;

High recovery rates exceeding 95 per cent;

Cash Cost (C1) of around $700 per ounce;

Processing rate of approximately 300,000 tonnes per annum; and

Payback well within 12 months.

Existing infrastructure at the project and the company’s previous operating experience in Senegal provide Bassari with the ability to fast track production from Makabingui.

The company also sees plenty of upside for the project in terms of potential from within its existing gold resource and extensive land package.

“The positive results of the Makabingui Scoping Study underpin our previous pre-development results and show we have the key ingredients for a highly profitable operation with high grade and high processing recoveries.

The icing on the cake is the existing infrastructure and the gravity plant that can be upgraded.” Bassari Resources managing director Jozsef Patarica said in the company’s announcement to the Australian Securities Exchange.

“Utilising our significant existing infrastructure and gravity plant will result in low capital requirements and an incredibly quick payback period.

“Most importantly, this will reduce the timeframe to production.

“Our studies have focused on high-grade and low-cost capital and operations.
 
“We will infill drill the inferred component of the much larger gold resource and also follow up multiple new areas of mineralisation identified to date across our land package.

“The team is now focused on fast tracking a Feasibility Study for Makabingui.”

Email: admin@bassari.com.au

Website: www.bassari.com.au