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Global Leader in Responsible Refining Technology abcrefinery.com

NEWGENGOLD PREVIEW

production of 120,000 ozpa over nine years at AISC of $US832/oz. Capex
SéGUéLA
was priced at $US142 million.
Owner: Fortuna Silver Mines Inc It was a notable milestone given it came just two years after Newcrest had
Location: 240km north-west of Yamoussoukro, walked away from the project.
Cote d’Ivoire The project encompasses the majority of a discrete sequence of Birimian
Reserves: 12.1mt @ 2.8 g/t gold for 1.088 moz (Paleoproterozoic) volcanic and volcano-sedimentary rocks, locally
Resources: 15.5mt @ 2.9 g/t for 1.432 moz gold termed the Séguéla greenstone belt. Small-scale artisanal mining has
Project status: In construction, first gold 2023 been occurring throughout the belt for hundreds of years, but the first
modern exploration came in the late 2000s with surface sampling by
A Randgold and Apollo Consolidated Ltd. It wasn’t until Newcrest arrived in
focal point of 2021’s most surprising gold M&A deal, the Séguéla
early 2016 that the first drilling occurred.
project in Cote d’Ivoire is set for first gold pour in 2023.
In July, Séguéla and the rest of the Roxgold portfolio – including the Newcrest’s first bedrock drilling campaign resulted in the discovery
Yaramoko gold mine in Burkina Faso – was acquired by Latin American- of Antenna which became Newcrest’s focus, with little exploration
focused silver miner Fortuna Silver Mines Inc in a C$1.1 billion deal. It was undertaken elsewhere in the belt. An inferred resource of 430,000oz
the culmination of nearly a decade of quiet achievement by the largely @ 2.3 g/t gold was reported in 2017 but did not meet Newcrest’s scale
Australian-based Roxgold executive team. requirements and Séguéla, along with Newcrest’s entire Côte d’Ivoire
Séguéla itself was acquired in 2019 from Newcrest Mining Ltd through exploration portfolio, was earmarked for divestment in 2018 with Roxgold
a competitive bidding process and Roxgold spent the next two years the successful buyer.
delineating an economic project. Mining and environmental permits are in place and early construction
It enjoyed considerable exploration success, adding more than 1 moz works have started, with construction of the accommodation camp and key
gold, predominantly from the high-grade Koula and Ancien discoveries power and site roads infrastructure already in progress. Commissioning of
– 285,000oz @ 7.4 g/t gold and 250,000oz @ 5.4 g/t gold respectively. the processing facility and first gold pour is scheduled for early 2023.
The discovery of the two high-grade deposits boosted the economics for Fortuna still considers the Séguéla property poorly explored, with over
Séguéla with an April 2021 feasibility study – based on reserves of 12.1mt 20 priority targets within a 15km radius of Antenna yet to receive any
@ 2.8 g/t gold for 1.088 moz from five open pits – envisaging life-of-mine meaningful exploration.

World first in-field gold technology
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TM
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Portable PPB Pty Ltd, Perth, WA. Australia
W: portableppb.com E: info@portableppb.com.au

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