Total Resource Ounces (M&I) at Mana More Than Triple (221% Increase)
TSX-SMF
MONTREAL, March 23 /CNW Telbec/ - SEMAFO (TSX - SMF) announced today that
its mineral reserves and resources as at December 31, 2008 totalled 4,760,100
ounces compared to 4,252,100 ounces as at December 31, 2007, representing a
17% increase after taking into account ounces produced. Using a gold price of
$750 per ounce, proven and probable mineral reserves total 22,081,600 tonnes
at 2.49 g/t Au representing 1,776,100 ounces compared to 1,969,700 ounces from
24,715,400 tonnes at 2.48 g/t Au as at December 31, 2007.
Measured and indicated mineral resources total 58,740,000 tonnes at 1.58
g/t Au representing 2,984,000 ounces compared to 2,282,400 ounces from
46,301,500 tonnes at 1.53 g/t Au as at December 31, 2007, an increase of 30%.
In addition, inferred mineral resources total 27,624,100 tonnes at 1.40
g/t Au representing 1,241,200 ounces compared to 2,565,900 ounces from
39,004,400 tonnes at 2.05 g/t Au as at December 31, 2007.
All calculations from the three mines were conducted with the support of
the Datamine mining software, using geologically-controlled block modelling
and estimation of the grades by ordinary kriging.
Highlights (Refer to table 1: Reserves and Resources Summary as at
December 31, 2008)
Mana mine, Burkina Faso
Proven and probable mineral reserves estimated by Geostat System
International Inc. for the Mana mine total 9,619,000 tonnes containing 908,600
ounces of gold, at an average grade of 2.90 g/t Au. This represents a nominal
decrease in overall ounces compared to those reported at the end of 2007 after
having produced 74,000 ounces in 2008.
Additionally, the total ounces in measured and indicated mineral
resources from both the Wona and Nyafe deposits increased by 221% based on
12,907,000 tonnes at an average grade of 2.46 g/t Au containing 1,021,400
ounces of gold compared to 317,800 ounces as at December 31, 2007. This
increase is primarily the result of a deep drilling campaign carried out under
the Wona pit. In light of these results, a preliminary budget of $4 million
has been established for additional at-depth drilling to further evaluate the
zone's underground potential.
Samira Hill mine, Niger
Proven and probable mineral reserves total 10,469,700 tonnes at 1.88 g/t
Au containing 631,100 ounces of gold. This represents a nominal decrease in
overall ounces compared to those reported at the end of 2007, considering
reserves mined in 2008.
Measured and indicated mineral resources total 34,803,100 tonnes at a
grade of 1.16 g/t Au containing 1,293,500 ounces of gold compared to 1,228,700
ounces at the end of 2007.
Kiniero mine, Guinea
Proven and probable mineral reserves total 1,992,900 tonnes at 3.69 g/t
Au containing 236,400 ounces of gold. This represents a decrease of 16,000
ounces as compared to those reported at the end of 2007 considering reserves
mined in 2008.
