Roxgold Inc issued the following announcement on Feb. 26.
Roxgold Inc. ("Roxgold" or "the Company") (TSX: ROXG) (OTC: ROGFF) is pleased to provide an update on its operations and progress of the development and construction activities for the Bagassi South project.
"We continue to see consistent operating performance from Yaramoko. 2018 has started off ahead of our expectations and we remain confident that we will have another strong year ahead," commented John Dorward, President and CEO of Roxgold. "Construction activities have started on schedule and are tracking to expectations at Bagassi South, our second high-grade underground mine, and we look forward to delivering first ore from the project in the fourth quarter."
Performance at the 55 Zone has achieved elevated production metrics across several fronts in recent months. Since October 2017, daily mine production has averaged 1,124 tonnes per day or 50% above nameplate capacity of 750 tonnes per day. This outperformance has been driven by a significant increase in stope production tonnes, as opposed to development tonnes, with tonnes from stoping increasing from 55% in October 2017 to 80% in January 2018. As a result, the Run-of-Mine stocks totalled approximately 40,000 tonnes at 14.9 grams per tonne of gold at the end of January 2018, which significantly de-risks the operation in 2018.
Processing through-put rates have increased steadily through the fourth quarter to the end of January 2018, averaging above 23,700 tonnes per month for the last four months with January achieving a record month of 24,363 tonnes milled at an average rate of 785 tonnes per day. Gold recoveries continue to be maintained at an average of 98.8% to date since commissioning.
Bagassi South Project Update
Development and construction of the Bagassi South project, located 1.8 kilometres south of the Yaramoko processing plant, is progressing according to plan. Environmental and social permitting and compensation activities have been completed.
Early works at the site including clearing, fencing, building construction as well as the boxcut construction for the second underground mine has commenced. In addition, mobilisation of the required personnel and equipment are on site to start the development of the ramp in the third quarter of 2018.
Paul Criddle, FAUSIMM, Chief Operating Officer for Roxgold Inc., and Craig Richards P. Eng, Principal Mining Engineer for Roxgold Inc., are Qualified Persons within the meaning of National Instrument 43-101, and have verified and approved the technical data disclosed in this press release.
Original source can be found here.