Site visit Senegal - January 2012
Transcription
Site visit Senegal - January 2012
RRL Senegal … January 2012 Senegal ... Strategy and Objectives Complete feasibility study at Massawa deposit. Find additional non refractory 2Moz in a radius of 15km of Massawa. Discover and/or acquire another +2Moz gold resources in the remaining grounds in Senegal. Pursue every growth and value adding opportunity in the vicinity. ESIA in progress. 1 Senegal permit status onto Geology PERMIT Kanoumba Miko Dalema Tomboronkoto Bambadji Area (Km2) Date of issue Period Valid Guaranty up to Next renewal 621 84 301 225 315 21-may-10 15-nov-10 06-jun-08 15-nov-10 03-mar-08 3 years 3 years 3 years 3 years 3 years 21-may-19 15-nov-13 06-jun-17 15-nov-13 03-mar-14 21-may-13 Extension 06-jun-14 Extension Extension Yatela ! Sadiola Dalema - Kofi Sabodala: 3.5Moz Reserve: 1.4Moz (18.3Mt @ 2.39g/t) Limestone QT ! Metasediments MALI Oromin:3.17Moz (M & I)(65Mt @ 1.58g/t) Diale - Keniebandi Clastic Metasediments Metasediments/volcanics Andesite SENEGAL Kanoumba Mako - Saboussire Delya MIiko Volcaniclastics Gara ! ! ! Yalea ! Andesite Basalt Bambadji Massawa ! Segala Tabakoto Granitoids Tomboronkoto Randgold Resources permits MTSZ Dalema 100 km Gounkoto SMSZ Exploration model and resource triangles Au mineralisation Tnikoto intrusives Ultramafique Country Rocks - Interplayed structures: NS & NE Rheological contrast Presence of Intrusives Dilational zones Mineralisation 2 Massawa … geology and mineralisation Kanoumba Permit Northern Zone (3500m long), Mineralisation py-Aspy-Au entirely hosted in sediment Massawa Central Zone: (885m long) mineralization is located in volcaniclastics, in sediment as well as in altered and deformed mafic and felsic intrusives. Py-aspy-Au and Qz-Sb-Au stages Massawa is structurally controlled, work to date has defined 8.5km long min. structure although drilling is currently focused on the northern 4.5km. Two metallurgical domains have been identified and comprise an early disseminated Au-bearing pyrite and arsenopyrite sulphides overprinted by a later quartz-antimony-gold vein system. Typical alteration includes carbonate-sericite overprinting an early pervasive silicification. 1000m Massawa results ... looking west MWRC125 9.02m @ 8.35g/t MWRC199 11.38m @ 3.42g/t MWRC118 9.02m @ 13.39g/t MWRC103 21.32m @ 1.68g/t MWRC130 3.28m @ 15.64g/t MWRC166 5.74m @ 6.21g/t MWRC144 31.98m @ 5.75g/t MWRC099 4.92m @ 8.4g/t MWRC109 4.1m @ 19.13g/t MWRC174 13.94m @ 2.26g/t MWRC091 7.38m @ 3.03g/t 3 Massawa latest model ... 650 mV Areas for infill or deep drilling if needed Massawa Reserves and Resources ... 4 Massawa mineralogy early mineralisation phase py Aspy Massawa main mineralisation phase: a gold-bearing arsenopyrite and pyrite system deposited as disseminations or thin veins. Massawa mineralogy second mineralisation stage Quartz Au Stib. Qz‐Ca Au Stibnite Sph Stib. Au Zi Massawa Southern Zone second mineralisation phase: a shallow level mineralisation system of quartz-antimony-gold bearing vein stage. 5 Massawa metallurgical results ... From the above, pressure oxidation proved to be the most effective treatment route for the recovery of gold from the flotation concentrate, which will require more power to run Massawa. - Diesel: 26USc/kWh - HFO: 17USc/kwh - Hydro power (Sambangalou): 6USc/kWh Metallurgical test results… Gold Recovery during mine life is estimated at 89%. Pressure Oxidation required to release gold, which requires high energy input. Carbon causes preg robbing of the NZ sulphides with recovery at 85%. Hardness of the Ore require more energy. High plant operating cost, therefore project needs cheap power. 6 Energy for Massawa... Power requirement for life of mine In developing Massawa, Randgold would invest approximately USD 400m in the project. The project contains more than three million ounces of gold. The life of the mine will be at least 10 years with 25 MW average power demand for its operation. Electricity … Sénégal National Grid Coal Power Station plant IPP Kepco (2 x 25 MW): Production will start 2015, with the Corean (Kepco E & C). Global Power Plan Power Strategy Get cheap, reliable and effective power supply for our regional mines: Massawa – Loulo – Gounkoto. - - Move from power generation (LFO/HFO) to hydro power from national or regional power grid. - Potential to supply the three mines in Senegal and Mali. - Seek partnerships and opportunities for global power management to support RRL group growth through the following options: Power supply options OMVG : Sambangalou (128 MW). - OMVS: Felou hydro power (60MW) & Gouina Hydro power (140 MW) plus Kayes Albatross 69 MW Power plant (2011). 7 Senegal…generating new targets at Massawa Nouma RAB targets +4km soil anomaly N Delya 214 425oz @ 2.48g/t Bambaraya 342 267oz @ 2.52g/t Samina RAB target 12km soil anomaly Missira RAB targets +4km soil anomaly Tina 300 152oz @ 1.04g/t Sofia 1 037 530oz @ 1g/t Massawa (4.5km) KB DDH: 4m @ 23.22g/t Saraba RAB targets 4km soil anomaly along MTZ Tombo 46m @ 2.15g/t 50m @ 3.09g/t 15m @ 12.84g/t 34m @ 1.95g/t 12m @ 2.11g/t Kawsara 1 413 374oz @ 0.65g/t Kaya - Kaldou RAB targets 9km soil anomaly 5km Impact at the nearest village … Tinkoto 2 Forages d’eau Case de Santé 4 Salles de classe en construction Moto for the Nurse 8 Massawa view Thanks for your attention Disclaimer… CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934, and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, the estimation of mineral reserves and resources, the realisation of mineral reserve estimates, the timing and amount of estimated future production, costs of production, reserve determination and reserve conversion rates. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “will”, “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Assumptions upon which such forward-looking statements are based are in turn based on factors and events that are not within the control of Randgold and there is no assurance they will prove to be correct. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Randgold (including Kibali) to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of Randgold and Moto, risks related to mining operations, including political risks and instability and risks related to international operations, actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, as well as those factors discussed in the section entitled “Risk Factors” in Randgold’s annual report on Form 20-F for the year ended 31 December 2009 which was filed with the US Securities and Exchange Commission (the “SEC”) on 31 March 2010, in the section entitled “Risk Factors” in Randgold’s prospectus published on 30 November 2009 in relation to the indirect acquisition of 10 per cent of the issued capital of Kibali Goldmines SPRL. Although Randgold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Randgold does not undertake to update any forward-looking statements herein, except in accordance with applicable securities laws. CAUTIONARY NOTE TO US INVESTORS: the SEC permits companies, in their filings with the SEC, to disclose only proven and probable ore reserves. We use certain terms in this release, such as “resources”, that the SEC does not recognise and strictly prohibits us from including in our filings with the SEC. Investors are cautioned not to assume that all or any parts of our resources will ever be converted into reserves which qualify as ‘proven and probable reserves’ for the purposes of the SEC’s Industry Guide number 7. Randgold Resources reports its Mineral Resources and Ore Reserves in accordance with the JORC code and are equivalent to National Instrument 43-101. The reporting of Ore Reserves is also in accordance with Industry Guide 7. Ore Resources consist of insitu tonnes and grade carried out at US$1,000/oz optimisations. Ore Reserve pit and underground optimisations are carried out at a gold price of US$700/oz. Dilution and ore loss are incorporated into the calculation of reserves. Addition of individual line items may not sum to sub totals because of the rounding off to two decimal places. Mineral Resources are inclusive of Mineral Reserves. Loulo Mineral Resources were calculated by Mr Chiaka Berthe an officer of the company under the supervision of Mr Rodney Quick a Qualified person and officer of the company. Morila Mineral Resources were calculated by Mr Adama Kone an officer of the company under the supervision of Mr Rodney Quick a Qualified person and officer of the company. The Tongon and Massawa Mineral resources were calculated by Mr Babacar Diouf a Qualified Person and officer of the company. The Kibali Mineral resources were calculated by Mr Rick Adams an independent Qualified person and director of Cube Consulting Pty Ltd. The Loulo Mineral reserves were calculated by Mr Samuel Baffoe, Mr Alexander Oduro and Mr Chris Moffat, all officers of Randgold, under the supervision by Mr Onno ten Brinke a Qualified person and officer of the company. Gounkoto,Tongon and Massawa Mineral reserves were calculated by Mr Onno ten Brinke a Qualified person and officer of the company. The Mineral reserves of Morila were calculated by Mr Stephen Ndede a Qualified Person and officer of the company. The Kibali open pit mineral reserves were calculated by Mr Quinton de Klerk a director of Cube Consulting Pty Ltd and independent Qualified Person. The Kibali underground mineral reserves were calculated by Mr Paul Kerr an officer of SRK Consulting Perth and an independent Qualified Person. 9
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