Exploration Strategy
The Company has grown its mineralized asset portfolio significantly in the past 5 years. The company continues to explore promising horizons within the largest known auriferous Birimian Siguiri Basin and is situated within a mining region in which most of the gold mines of Guinea are located, such as Siguiri Ashanti Goldfields and Nordgold Lefa in the north and Kiniero in the southwest.
The Group exploration strategy is focused on evaluation of reverse circulation (RC) drilling and diamond drilling (DD) at or adjacent to existing local mining operations, combined with pit and trench sampling. Estimated resources for the Kanguela East deposit are derived from the results of reconnaissance works, digital orthophotography, subsoil geochemistry, pit and trench sampling, drilling and deep analysis. Specifically of note in the exploration on this deposit is the wide use of digital orthophotography for outlining of artisanal mining sites, and also carrying out of pilling tests.
Farafina Gold Group mineral resource estimates are carried out by wireframe and block modeling methods of ore zones using Micromine software and have been classified according to the JORC Code.
Presented here are:
- The wireframe model for the Gressifalani ore zones (2019)
- The block model for Wodokodoni site ore zones (3D-visualization)
- The block model for Nzima deposit ore zones (3D-visualization).
Resources and Reserves
As of 30th June 2019, using the conservative price assumption of $46.32 per ounce, our gold mineralized material were comprised as follows:
- 553,000 ounces valued at more than $25,598,000 in Nzima,
- 688,000 Ounces valued at $31,868,000 in Kanguela East.
- 586,000 Ounces valued at $27,139,000 in Faralako North.
- 125,000 Ounces valued at $5,808,000 in Paramangui,
Total valuation of Farafina Gold Group mineral reserves: $90,413,000
Presented here:
- Dynamics of attributable consolidated resources & reserves in ounces
- Dynamics of changes in cost
- Dynamics of changes in resources in ounces