Sanbrado Gold Project

Formerly known as Tanlouka Gold Project

West African Resources (ASX/TSX-V: WAF) is developing the Sanbrado Gold Project (formerly the Tanlouka Gold Project), a high-grade gold discovery in Burkina Faso, West Africa.

An open-pit feasibility study has confirmed:

  • Forecast annual production of 150,000 ounces of gold over the first three years of the project and 93,000oz gold per year over the current nine-year mine life
  • Probable Reserves of 894,000oz (16.8Mt at 1.7g/t gold)
  • Indicated Resources of 1.3Moz gold (29.57Mt at 1.4g/t gold using a 0.5g/t cut-off)
  • Low All-In Sustaining Costs of US$708/oz over the first 3 years and US$759/oz over Life of Mine
  • Strong economics – pre-tax NPV5% of $143m, IRR 27% and post-tax NPV5% of $100m, IRR 21%
  • Mining and environmental permits approved.

Following excellent drilling results since Feasibility Study completion, WAF will focus on targeted drilling for the remainder of 2017, particularly at M1 South and M5 deposits, aimed at maximising the project NPV. A further resource update is expected in Q1 next year, ahead of completion of an updated Feasibility Study in mid-2018.  

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Corporate Overview

West African Resources Limited is a Perth-based gold company, dedicated to creating shareholder value through the acquisition and development of gold projects in Burkina Faso, West Africa. A Definitive Feasibility Study for the Sanbrado Gold Project has confirmed it as a robust project with strong early cashflow, rapid payback of capital and expected production of 150,000oz gold per year. WAF will focus on targeted drilling at Sanbrado for the remainder of 2017 aimed at maximising the project NPV, with an updated resource estimate due Q3 2017.

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Feasibility Study

West African Resources hosted a conference call to discuss its Feasibility Study, released to the market on Monday 20 February 2017.

To access a recording of the call, click the link below.

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