YANAFOULA GOLD MINE
The Republic of Mali (‘Mali’) is Africa’s third largest gold producer. The country has been EITI-compliant since 2011 and the mining sector, as a large contributor to the GDP and prominent theme in its history, is considered a priority industry. For over 25 years, Mali has been home to international mining companies’ commercial operations and gold constitutes approximately 90% of its mineral production. All of these factors render Mali a first-rate country to operate in.
The Yanfolila Gold Mine (‘Yanfolila’), located in southern Mali, is a high-grade open pit mining operation, with underground potential, which poured first gold on time and on budget in December 2017.
The Company’s updated 31 December 2020 Mineral Resources Estimate (‘MRE’) at Yanfolila stands at 1.92Moz, with a current 7.9Mt of Reserve ore @ 2.66g/t for c. 676,000 oz of gold, with an updated Reserve Statement expected out later this year.
The carbon-in-leach process plant has a throughput capacity of 1.4Mtpa when processing a blend of ore types, which was enhanced by the secondary ball mill project in 2019. When processing 100% fresh ore, the throughput capacity has been increased from 1Mtpa to 1.24Mtpa.
There are significant Indicated Resources both within the open pit and mine inventories that are not in the current mine plan. These will be targeted for conversion to ore Reserves in the future to increase both current forecasted annual production and to extend the mine life. There is a focus on exploration and underground development to delineate new Resources and Reserves to further augment the mine plan. The Yanfolila 2021 exploration and drilling budget has been doubled from 2020 levels up to $10 million in order to achieve these outcomes.
| As at 31 December 2020 | INDICATED | INFERRED | TOTAL RESOURCES | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Deposit | Mineral Resources Code | TONNES (kt) | GRADE (g/t) | OUNCES (koz) | TONNES (kt) | GRADE (g/t) | OUNCES (koz) | TONNES (kt) | GRADE (g/t) | OUNCES (koz) |
| Komana East | JORC | 4,177 | 3.61 | 485 | 813 | 2.90 | 76 | 4,990 | 3.49 | 561 |
| Komana West | JORC | 5,877 | 2.07 | 390 | 1,006 | 1.57 | 51 | 6,883 | 1.99 | 447 |
| Gonka | JORC | 2,003 | 3.39 | 219 | 295 | 7.82 | 74 | 2,298 | 3.96 | 293 |
| Sanioumale East | JORC | 1,669 | 2.64 | 142 | 754 | 2.58 | 62 | 2,432 | 2.62 | 204 |
| Sanioumale West | JORC | 1,739 | 1.85 | 104 | 1,067 | 1.76 | 61 | 2,806 | 1.82 | 164 |
| Guirin West | JORC | 1,160 | 1.98 | 74 | - | - | - | 1,160 | 1.98 | 74 |
| Kabaya South | SAMREC | 1,370 | 1.42 | 62 | 650 | 1.10 | 23 | 2,020 | 1.31 | 85 |
| Kabaya South** | Non-Code | 950 | 1.50 | 46 | 950 | 1.50 | 46 | |||
| Badogo-Malikila** | Non-Code | 2,347 | 0.81 | 61 | 2,347 | 0.81 | 61 | |||
| Total Mineral Resources | 17,955 | 2.55 | 1,475 | 7,882 | 1.79 | 454 | 25,877 | 2.32 | 1,929 |
* The mineral resources shown in the table above represent the gross resources attributable to the Project (inclusive of Government interest).
** Where the Inferred resources from Kabaya South and Badogo-Malikila are reported as Gold Fields Ltd historical mineral resources as previously reported in The Company’s MRE update of December 2015.
Complete details of each deposit’s MRE and reporting details are provided in the release dated 30 March 2021.
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