Bassari Resources: Makabingui Gold Project moves towards production

Bassari Resources’s quarterly report reveals that significant progress has been made in the quest for production at the Makabingui Gold Project in Senegal.

The company had previously identified some 30 gold anomalies in the Bassari permits in the under-explored Senegal Birimian greenstone gold belt in West Africa, which borders the countries of Mali and Guinea. The company is currently focused solely on the development of its flagship Makabingui Gold project.

Highlights

Pit 1 - Infill Grade Control Drilling Partial Assays returned 

Partial assays have been received from the first pass pre-development grade control drilling (10m x 10m) of the high grading, 7.5 g/t Au, mineable Pit 1 of 110,000 oz. 

Major gold intersections from first stage close to surface drilling are: 

• 1m at 14.2g/t Au from 19m 
• 2mat4.7g/tAufrom0m
• 2m at 4.6 g/t Au from 11m 
• 8mat1.1g/tAufrom4m
• 2mat2.9g/tAufrom0m
• 3m at 2.6 g/Au from 13m 
• 1m at 10.5 g/t Au from 0m 
• 1mat6.4g/tAufrom0m
• 2m at 9.7 g/t Au from 10m 
• 9mat1.0g/tAufrom0m
• 1m at 10.2 g/t Au from 19m 
• 1m at 25.5 g/t au from 19m 
• 4mat2.6g/tAufrom2m
• 13m at 2.5g/t Au from 0m including [email protected] g/t Au 
• 1m at 17.5 g/t Au from 1m 
• 2mat5.2g/tAufrom1m

A total of 7,000 assays remain outstanding. 

Construction 

The two ball mills which arrived in late December 2019 have been delivered to the mine site, together with agitators and spares. The rebar and cutting and bending machine have been delivered in preparation for the plant upgrade foundations. 

Major works completed include: 

• Plant Rom pad and resheeting 
• Sewerage plant installed 
• All roadworks around the plant completed
• Plant security fence installed 

Makabingui Gold Deposit – Pit 1 Grade Control Drilling – Partial Results Returned 

Partial results have been received from the first pass pre-development grade control drilling (10m x 10m) at Pit 1 of the Makabingui Gold Project.
Major gold intersections are: 

• 1m at 14.2g/t Au from 19m (P1GC0161) 
• 2m at 4.7 g/t Au from 0m (P1GC0187) 
• 2m at 4.6 g/t Au from 11m (P1GC0196) 
• 1m at 6.8 g/t Au from 15m (P1GC0197) 
• 8m at 1.1 g/t Au from 4m (P1GC0199) 
• 2m at 2.2 g/t Au from 0m (P1GC0218) 
• 2m at 2.9 g/t Au from 0m (P1GC0223) 
• 6m at 1.8 g/t Au from 4m & [email protected] g/Au from 13m (P1GC0224) 
• 1m at 6.2 g/t Au from 1m (P1GC0225) 
• 1m at 6.3 g/t Au from 10m (P1GC0239) 
• 2m at 3.3 g/t Au from 1m (P1GC0244) 
• 1m at 10.5 g/t Au from 0m (P1GC0241) 
• 1m at 6.4 g/t Au from 0m (P1GC0276) 
• 2m at 9.7 g/t Au from 10m (P1GC0290) 
• 1m at 5.5 g/t Au from 6m (P1GC0294) 
• 2m at 2.4 g/t Au from 2m (P1GC0300) 
• 9m at 1.0 g/t Au from 0m (P1GC0302) 
• 1m at 10.2 g/t Au from 19m (P1GC0303) 
• 2m at 1.8 g/t Au from 0m (P1GC0312) 
• 1m at 25.5 g/t au from 19m (P1GC0312) 
• 4m at 2.6 g/t Au from 2m (P1GC0318) 
• 13m at 2.5g/t Au from 0m including [email protected] g/t Au (PIGC0330) 
• 1m at 17.5 g/t Au from 1m (PIGC0336) 
• 2m at 5.2 g/t Au from 1m (PIGC0327) 

SEE ALSO

Exceptional drilling results for Bassari Resources’ Makabingui Gold Project

World Gold Council confirms gold still a mainstream investment choice

Serving Senegal: Inside Bassari Resources’ Makabingui gold project

Read the latest issue of Mining Global here

Pit 2

Additional assays further confirm the high gold grade, and continuity of the mineralisation in pit 2 and its extension to the west and at depth, which will result in the expansion of pit 2. 

The most significant gold intersections returned are: 

• 9 m at 8.6 g/t from 11 m 
• 7 m at 6.1 g/t from 9 m
• 4 m at 8.1 g/t from 7 m 
• 9 m at 3.3 g/t from 12 m 
• 6 m at 3.9 g/t from 0 m
• 8 m at 2.2 g/t from 10 m 
• 6 m at 2.6 g/t from 1 m  
• 6 m at 2.5 g/t from 1 m 
• 5 m at 2.2 g/t from 5 m 

The multi-million dollar fuel supply tender has been won by VIVO (Shell). Meanwhile, 1,500 samples from the grade control drilling at the high grade pit 1 (110,000 oz at 7.5 g/t) (see ASX release 26 June 2014) have been sent to Actlabs for assay.

Investment highlights:

Mineral tenements over approximately 312km2 of prospective Birimian Gold Belt, Senegal.

• Makabingui Gold Project Feasibility Study – Initial high grade open pit project of 1Mt at 5.7g/t for 174,000 oz production inventory, $678/oz cash cost, US$90m pre Capex after tax cash flow in first three years, and expansion anticipated from underground and infill drilling of 8km Makabingui South zone. 
• Makabingui Gold Project Mineral Resource (Prepared and disclosed under JORC Code 2004 and remains unchanged) 1 Moz in 11.9 Mt at 2.6 g/t gold (0.5 g/t cut-off): - Indicated: 336,000 oz in 2.6 Mt at 4.0g/t - Inferred: 669,000 oz in 9.3 Mt at 2.2g/t 
• Makabingui Gold Project open pit JORC 2012 Probable Ore Reserve: - 158,000 oz in 0.86 Mt at 5.7 g/t 
• Senegal, stable democracy since 1960. 
• Well located tenements in a +60M ounce gold province hosting world class deposits. 
• Multiple prospects identified along 60km of partially drilled mineralised strike.