SEMAFO Reports 2016 Reserves and Resources
Estimates Natougou Inferred Resources Increase to 754,000 Ounces
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 02/27/17 -- SEMAFO Inc. (TSX: SMF)(OMX: SMF) today announced its updated mineral reserves and resources as of December 31, 2016.
Reserves & Resources - Overview
At the end of 2016, total proven and probable reserves stood at 28.2 million tonnes averaging 3.31 g/t Au for 3.0 million ounces as compared to 30.5 million tonnes at 3.32 g/t Au for 3.3 million ounces at the end of 2015. The slight decrease in reserves is due to depletion as SEMAFO produced 240,200 ounces of gold in 2016.
Inferred resources at Natougou amounted to 6.3 million tonnes averaging 3.72 g/t Au for 754,000 ounces of gold, an increase of 119% compared to year-end 2015. The increase in inferred resources is mainly attributable to the expansion of the West Flank Sector adjacent to the open-pit deposit.
The total exploration budget for 2017, which has initially been set at $23 million, will focus on reserves replacement and mine life extensions, and represents an increase over 2016.
All mineral resources reported are exclusive of mineral reserves. Gold price assumptions for reserves and resources are unchanged from 2015 at US$1,100 and US$1,400 per ounce, respectively. See the attached table for more details.
Mana
At year-end 2016, Mana''s mineral reserves totalled 18.6 million tonnes at an average grade of 2.88 g/t Au for 1.7 million ounces, compared to 21.0 million tonnes at 2.95 g/t Au for 2.0 million ounces at year-end 2015. The 13% decrease in gold reserves is mainly driven by depletion from mining at the Siou and Fofina open pit deposits during the year, slightly offset by the addition of reserves at Yama.
Table 2 presents the reserves and resources estimate at the Mana pits as at December 31, 2016.
Tapoa (Natougou Project)
As the project is currently under construction, the open-pit proven and probable mineral reserves estimate for Natougou remains unchanged from 2015 at 9.6 million tonnes averaging 4.15 g/t Au for 1.3 million ounces of contained gold.
Following establishment of an initial exploration budget of $15 million for Natougou in 2017, an $8.5 million infill drilling program has already begun on the West Flank with the goal of upgrading the inferred mineral resources into the indicated category. During the second half of the year, we intend to carry out studies into a potential underground operation accessible by a decline at the bottom of the open pit on the West Flank. An amount of $1.3 million has been earmarked for this purpose.
Yactibo (Nabanga Deposit)
Inferred resources at the Nabanga deposit remain unchanged at 1.8 million tonnes at 10.0 g/t Au for 590,000 ounces of contained gold. The NI 43-101 Technical Report for Yactibo Permit Group, Nabanga Gold Deposit was filed in June 2015 on SEDAR.
Table 1 gives our consolidated mineral reserves and resources as at December 31, 2016.
Qualified Person
The mineral reserves and resources were estimated as at December 31, 2016 in accordance with the definitions adopted by the Canadian Institute of Mining Metallurgy and Petroleum and incorporated into National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101). Updates on the proven and probable mineral reserves and the measured, indicated and inferred mineral resources, with the exception of the reserves of the Natougou deposit, were carried out by an in-house team under the direction of Michel Crevier, P.Geo MScA, Vice-President, Exploration and Mine Geology and SEMAFO''s Qualified Person, who has reviewed this press release. For the mineral reserves estimate for the Tapoa (Natougou Project), please refer to the NI 43-101 Technical Report that was filed on SEDAR on March 28, 2016.
Table 1 - Consolidated Reserves and Resources
Table 2 - Mana, Burkina Faso(1,2,3)
About SEMAFO
SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation operates the Mana Mine in Burkina Faso, which includes the high-grade satellite deposits of Siou and Fofina, and is advancing construction of the Natougou Project. SEMAFO''s strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "initially", "will", "testing", "potential", "with the goal of", "intend", "carry out", "earmarked", "pursuing", "growth", "opportunities" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability to execute the $23 million initial exploration budget, the ability to replace reserves and extend mine life, convert current inferred resources on Natougou''s West Flank Zone into the indicated category, the ability to proceed with an underground at Siou and at Natougou, the ability to execute on our strategic focus, fluctuation in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, political and social stability in Africa (including our ability to maintain or renew licenses and permits) and other risks described in SEMAFO''s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO''s 2015 Annual MD&A, as updated in SEMAFO''s 2016 First Quarter MD&A, 2016 Second Quarter MD&A and 2016 Third Quarter MD&A, and other filings made with Canadian securities regulatory authorities and available at . These documents are also available on our website at . SEMAFO disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
The information in this release is subject to the disclosure requirements of SEMAFO under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on February 27, 2017 at 7:00 a.m., Eastern Standard Time.
Contacts:
SEMAFO
Robert LaValliere
Vice-President, Corporate Affairs & Investor Relations
Cell: +1 (514) 240 2780
Ruth Hanna
Analyst, Investor Relations
Tel. local & overseas: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
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Datum: 27.02.2017 - 06:00 Uhr
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