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addition, a third of the resource is made up constructing a new mine near
of oxide and transitional material. West African’s Sanbrado Mine.
“The resource update is an important mile- Dinning says the work had
stone because it pushed the oxide/transi- also provided further explora-
tional resource to 1 moz,” Dinning explains. tion targets around Bondi
“That is sufficient for a nominal seven-year which could further unlock
mine life based on oxide/transitional alone, Sanutura’s true potential.
which means we can get the project estab- “We have approximately
lished using a simple oxide CIL processing 1,500sq km which hosts
circuit.” multiple styles of mineralisa-
The combination of oxide/transitional mate- tion which gives us quite a few
rial, shallow mineralisation and abundant things to go at, and potential to
free-milling ore provide the elements throw up surprises” he says.
needed for a simple start-up, great pay “Our next key step will be to
back metrics and sets the foundation for a pursue the compelling explora-
staged, long-life development at Sanutura. tion targets we have identified
“Like a number of our West African peers across the project. These
targets, when combined with
including Tietto and West African Re- the current mineral resources,
sources, grade drives the early years of this give us an exploration target in
project and there is also a lot of free-milling excess of 3-3.5 moz gold.”
fresh ore, so we have an opportunity to start
with a rudimentary CIL plant to treat the A 60,000m exploration drill
oxides and then progressively upgrade for program will start following the market cap and the operational base,” Din-
the fresh material,” Dinning says. “At current ASX listing to test more than 30 exploration ning says,
gold prices, we think the oxides can provide targets identified from soils, IP, airborne “Once we establish that, we will be better
a 12-18-month payback on a 120,000 ozpa magnetics and historical drilling. positioned to pursue opportunities and
project.” “The next 12 months will see more drilling potentially grow our project and resource
Given his experience in the West Australian as we target that 3.5 moz resource and to base.”
Eastern Goldfields, Dinning knows it is push solidly through the 1Moz contained in Two of those potential opportunities sit
unlikely Sanutura will stop at seven years. oxides,” Dinning says. within 20km of Sanutura. Endeavour Mining
“Working in WA for as long I did, you realise After completion of the planned drilling on Inc controls the 1.5 moz Bantou Deposit
that where you start is never where you end Sanutura, Sarama plans to undertake a fur- which is situated just 5km from Sanutura’s
up on a gold mine, and we see the same ther resource update and look to complete 2.5 moz Tankoro Deposit and also holds the
thing time and again in West Africa whether a PEA to frame what the opportunity looks majority stake in the 0.7 moz Karankasso
it is at Mana or Houndé in Burkina or places like. JV in which Sarama holds 18%.
like Morilla which has got a new lease of “We want to see what we are working “We believe the ultimate value play for the
life under Firefinch” he says. “The key thing with, so we can plan the next steps before area is to combine the various deposits in
is to get into production, then you have committing funds on further studies and and around our Sanutura Project into one
the power of incumbency, and the geolo- resource conversion,” Dinning says. larger project which would boast a plus-5
gists have more time and better access to There has been a rush of development suc- moz resource base and a lot of exploration
get their head around what’s driving the cess in West Africa recently with Perseus runway. We have had a few discussions
mineralisation.” Mining Ltd and West African Resources with Endeavour about the rationale of com-
That process has already started. The new Ltd (WAF) seamlessly developing projects. bining everything under one owner,” Dinning
resource came as a result of reinterpreta- Dinning believes Sarama can follow their says. “They are aware of the opportunity but
tion and re-estimation of the Bondi Deposit example and define a niche position within because Endeavour has been very busy
which was originally drilled by Canadian the Burkina Faso gold scene. on the M&A front, acquiring both SEMAFO
junior Orezone Gold who are now busy “The main focus is on establishing a starter and Teranga in 2020, it has a lot of new
project with a 7-8 year mine life, good assets to get their head around and work
payback metrics and low costs, once we through before they make any long-term
have that the rest will come,” he says. “The decisions. We already have a good project
hardest part is always getting the first so are getting on with business making it
mine up and running but as WAF and even better however we do believe that
Perseus have shown, once you get ultimately Bantou and Sanutura should be
through that you have the ability to put together.”
grow.” Such prospects reveal the prolific nature of
Australian explorers have also Burkina Faso and the opportunity in front of
had great success in West Africa Sarama, should it hit its key milestones.
in recent years and the Sarama “We have the targets and all the planning
exploration team continues to hunt has been done,” Dinning says. “We are
prospects throughout the region looking forward to getting the ASX listing
“We see opportunity across West completed and getting things up and
Africa, in Burkina Faso, Cote d’Ivoire, moving in Burkina.”
Mali, Senegal and even Guinea but we
can’t act upon it until we have the
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