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Semafo’s full-year exploration spend to reach $32m

16th September 2019

By: Marleny Arnoldi

Online News Editor

     

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TSX-listed Semafo has set an exploration budget of $5-million for the Karankasso portion of the Bantou project, in Burkina Faso, for the remainder of this year.

The exploration programme will focus on testing an extensive number of soil anomalies, many of which are located along the Karankasso trends that host the existing 805 000 oz inferred mineral resource at Bantou.

This will take Semafo’s total exploration spend for the year to $32-million.

The company in July launched an 8 500 m drilling programme to explore potential new structures in parallel to the Karankasso trends. The programme was suspended during the country’s rainy season, but will resume shortly.

The company will start an additional 22 000 m reverse circulation drilling campaign in the fourth quarter to explore untested soil anomalies along the Karankasso trends.

Semafo aims to reach between 2.5-million ounces and 3-million ounces of consolidated resources at Bantou by the end of 2020.

The Canada-based gold producer operates two mines in Burkina Faso – Boungou and Mana.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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