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Posts tagged ‘Roxgold Inc (ROG)’

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March 6th, 2013

True Gold and Roxgold go for gold in Burkina Faso

by Greg Klein

Next Page 1 | 2

Formerly trading as Riverstone Resources TSXV:RVS, True Gold Mining TSXV:TGM continues to push its Karma project in Burkina Faso towards a scheduled year-end feasibility. On March 6 the company released yet another set of assays, this time from large-diameter metallurgical core.

True intercept widths on two deposits were estimated between 50% and 90%. Highlights for the Goulagou I deposit include:

True Gold and Roxgold go for gold in Burkina Faso

Extensive drilling continues to probe Burkina’s promising geology.

  • 2.22 grams per tonne gold over 22 metres
  • 0.99 g/t over 24 metres
  • 1.18 g/t over 16 metres
  • 1.49 g/t over 12 metres
  • 0.89 g/t over 14 metres
  • 1.06 g/t over 10 metres.

The top-most interval began at a down-hole depth of 16 metres while the deepest stopped at 110 metres.

Highlights for the Goulagou II deposit include:

  • 3.75 g/t over 56 metres
  • 4.43 g/t over 24 metres
  • 2.53 g/t over 22 metres
  • 2.65 g/t over 14 metres
  • 1.99 g/t over 14 metres
  • 0.96 g/t over 28 metres
  • 1.61 g/t over 16 metres.

The top-most intercept started at 28 metres, with the deepest stopping at 132 metres down hole.

Apart from the assays, the 16-hole, 1,370-metre program will provide metallurgical samples to support Karma’s feasibility study. In an August preliminary economic assessment, True Gold considered the prospects for an open pit operation with heap leach processing. Using a 5% discount rate, the study projected a pre-tax net present value of $271 million and a 47% internal rate of return. After taxes, the NPV came to $192 million with a 37% IRR. Initial capital costs were estimated at $125 million with payback in two years, but contract mining might shrink the capex to $96 million. Production was forecast at 70,000 to 90,000 gold ounces a year over a 10-year lifespan.

A resource update followed in October. Totals for Karma’s five deposits showed:

  • an indicated category of 68.75 million tonnes averaging 1.02 g/t gold for 2.25 million gold ounces
  • an inferred category of 40.4 million tonnes averaging 0.86 g/t for 1.11 million ounces.

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Roxgold reports Burkina Faso Yaramoko Gold Resource: 354K oz ind, 306K oz inf

August 7th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningRoxgold Inc TSXV:ROG announced the first resource estimate of the 55 Zone on its Yaramoko Concession in Burkina Faso as well as assays results from the 55 Zone. The estimate (at a 2 grams per tonne cutoff) shows an indicated resource of 617,000 tonnes grading 17.8 g/t gold for 354,000 ounces and an inferred resource of 1,244,000 tonnes grading 7.7 g/t gold for 306,000 ounces. Assay highlights include

28.69 g/t gold over 2 metres
18.73 g/t over 2.2 metres
14.44 g/t over 3.7 metres
6.93 g/t over 3.65 metres
(including 23.77 g/t over 0.8 metres)
6.57 g/t over 7 metres
5.38 g/t over 6.95 metres
(including 10.71 g/t over 2.4 metres)

President/CEO Robert Sibthorpe commented, “The receipt of this high grade gold resource estimate marks a turning point for Roxgold and validates the strong financial support provided by our shareholders over the past year.” Lead Director Allan Fabbro commented, “The Roxgold exploration team both in Canada and Burkina Faso deserve recognition, both for the discovery of the 55 Zone in early 2011 and the three subsequent efficient drill campaigns which delineated the resource received today. Their work will allow the Company to go forward now with a promising asset and a strong treasury.”

View Company Profile

Robert (Bob) Sibthorpe
President
604.638.0979

or Al Fabbro
Lead Director
604.351.8850

Read an interview with Lead Director Al Fabbro

by Kevin Michael Grace

Roxgold reports Burkina Faso Gold Assays up to 14.74 g/t over 24.6m

February 9th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningRoxgold Inc TSXV:ROG announced results from the Bagassi Central area of its Yaramoko Concession in Burkina Faso, West Africa. Assays include

14.74 g/t gold over 24.6 metres
25 g/t over 4.1 metres
19.77 g/t over 3 metres
24.62 g/t over 4.4 metres
36.85 g/t over 2 metres
60.45 g/t over 7.5 metres (including 131.96 g/t over 2.5 metres)
43.97 g/t over 2 metres
5.57 g/t over 6 metres
14.45 g/t over 7.3 metres

CEO Bob Sibthorpe commented, “The mineralized zone at Bagassi Central continues to respond positively to our expanded drill programs, and it is up to us to carry out the appropriate activities associated with a discovery of this nature. Additional personnel and contract services are being sourced to accommodate this responsibility. While we monitor progress closely at Bagassi Central no resource estimate will be published until the dimensions of the zone are ascertained by additional drilling. We will however continue to make available on the corporate web site all raw data. There has been tremendous momentum built up on this project and we look forward to an exciting and productive 2012.”

View Company Profile

Contact:
Robert Sibthorpe
President/CEO
604.682.7306

or Allan Fabbro
Director
604.351.8850

by Ted Niles

Roxgold reports Burkina Faso Gold Assays up to 156.16 g/t over 3m

November 1st, 2011

Resource Clips - essential news on junior gold mining and junior silver miningRoxgold Inc TSXV:ROG announced assay results from the Bagassi Central area of its Yaramoko concession in Burkina Faso, West Africa. Highlights include

6.18 g/t gold over 12.4 metres (including 15.67 g/t over 2 metres)
101.65 g/t over 4.2 metres
18.26 g/t over 2 metres
156.16 g/t over 3 metres
5.35 g/t over 1.3 metres
2.46 g/t over 3.5 metres
30.14 g/t over 8 metres (including 56.65 g/t over 4 metres)
2.37 g/t over 2.9 metres

CEO Robert Sibthorpe stated, “The Roxgold board of directors believes the company is now positioned to benefit fully from any further exploration success. We now have 100% ownership of the Yaramoko and Sebba (Solna) Properties and 90% of Bissa West, all located in a favourable exploration environment and there are now funds available exceeding $15 million which is adequate to fully evaluate their potential. Experienced and capable technical and support teams are now in place to implement our plans. We look forward to an exciting and productive 12-month period.”

View Company Profile

Contact:
Robert Sibthorpe
President/CEO
604.689.2599

or Barry Girling
Director
604.806.0991 x 102

by Ted Niles

Roxgold reports Burkina Faso Results up to 123.84 g/t Gold over 5.4m

October 19th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningRoxgold Inc TSXV:ROG announced assays from its Yaramoko Concession in Burkina Faso. Highlights include

123.84 g/t gold over 5.4 metres
31.9 g/t over 5 metres
92.14 g/t over 2 metres
48.46 g/t over 2 metres
31.11 g/t over 2.75 metres
9.35 g/t over 5.8 metres
31.12 g/t over 2 metres

Roxgold will acquire a 100% interest in the Yaramoko, Bissa West and Solna projects from Riverstone Resources Inc TSXV:RVS for a total of approximately $33.5 million, comprising $17 million in cash and 16 million Roxgold common shares valued at $1.03 per common share (based on the closing price of September 20, 2011). On closing the transaction, Riverstone will own approximately 17 million Roxgold common shares, representing 19.3% of Roxgold’s outstanding shares.

View Company Profile

Contact:
Roxgold Inc
Robert (Bob) Sibthorpe
President
604.638.0979

or Al Fabbro
Director
604.351.8850

by Greg Klein

Roxgold, Riverstone report Burkina Faso Gold Results as high as 37.68 g/t over 16m

October 5th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningRoxgold Inc TSXV:ROG in joint venture with Riverstone Resources Inc TSXV:RVS announced assays from their Yaramoko Concession in western Burkina Faso. Results include

37.68 g/t gold over 16 metres
(including 73.8 g/t over 7 metres)
100.58 g/t over 4 metres
(including 177 g/t over 2 metres)
53.56 g/t over 8 metres
(including 178.3 g/t over 2 metres)
47.41 g/t over 8.5 metres
(including 156.9 g/t over 2 metres)

Roxgold will acquire a 100% interest in the Yaramoko, Bissa West and Solna projects from Riverstone for a total of approximately $33.5 million, comprising $17 million in cash and 16 million Roxgold common shares valued at $1.03 per common share (based on the closing price of September 20, 2011). On closing the transaction, Riverstone will own approximately 17 million Roxgold common shares, representing 19.3% of Roxgold’s outstanding shares.

View Company Profile

Contact:
Roxgold Inc
Robert (Bob) Sibthorpe
President/CEO
604.638.0979
or Al Fabbro
Director
604.351.8850

Riverstone Resources Inc
Raju Wani
Investor Relations
403.240.0555
Ron Cooper
Investor Relations
604.986.0112
Don Mosher
Corporate Development
604.685.6465

Read more about Roxgold Inc and Riverstone Resources Inc

by Greg Klein

Roxgold Director Al Fabbro on Burkina Faso gold assays of 62.8 g/t over 16m

September 8th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningRoxgold Inc TSXV:ROG in joint venture with Riverstone Resources Inc TSXV:RVS announced results from their Yaramoko Gold Permit in Burkina Faso. Highlights include 62.8 g/t gold over 16 metres (including 226.9 g/t over 3 metres) 17.2 g/t over 12 metres (including 32.3 g/t over 6 metres), 14.1 g/t over 9 metres (including 42.6 g/t over 2 metres), 39 g/t over 2 metres, 5.4 g/t over 12 metres and 5.2 g/t over 12 metres.

Roxgold can earn a 60% interest in Yaramoko by spending $1.5 million, paying Riverstone $100,000 and issuing Riverstone 360,000 shares over three years.

Roxgold Director Al Fabbro tells ResourceClips.com, “Riverstone had the property in 2007, but they were getting heat from the government for not doing any exploration. They didn’t have anything budgeted for exploring Yaramoko, Bissa West or Solna [three nearby concessions] in the 2010 to 2011 season, and they decided it would be prudent to joint-venture and get other people’s money to spend on these concessions. So we came to a deal with them last year.

We’re very happy with the results we released today. We think they’re exceptional. It’s the first time we’ve seen a grade like this in Burkina—Al Fabbro

“Officially, we’re project operator now, but we agreed they would operate until the end of the drill program, so they’re still actually operating. Once we resume in October or the end of September, we’ll be the operator.

“We don’t have the accounting finished yet, but we’ve made all of our earn-in commitments,” Fabbro adds. “We’ve spent about $1.8 million on Yaramoko. Our commitment was $1.5 million. We’ve made all the cash payments and issued all the shares, so once we get the accounting complete they will have to start contributing 40% of the budget.

“We’re very happy with the results we released today. We think they’re exceptional. It’s the first time we’ve seen a grade like this in Burkina. We know you can expect that in these Greenstone Belts. You get it in Canada; you get it in South America, other parts of Africa. They’re all basically the same geology, so there was no reason why we wouldn’t see it in Burkina too. Burkina is an underexplored country, so I think we’ll see more of these high-grade ore shoots there.”

Fabbro continues, “We like this country; the people are friendly. They’re quite poor, so they appreciate the business. My colleague [President/CEO Robert Sibthorpe] spent a lot of time in Africa, and he says it’s one of the top three countries he’s worked in.

“The infrastructure’s not bad. We can do anything in there. The only problem is the labs are a little taxed; we’re finding a 12-week lag. That’s why we shipped the last batch of core out to Canada.”

Fabbro concludes, “Again, we’re really excited about today’s results. We’ve got more to come; there are another 31 holes in the pipeline, and we think some of them could be as good as the ones we’ve already released. So we’re really anxious to see this go further. It’s very early days in this discovery; we’ve got lots of work to do, and we’re very optimistic.”

View Company Profile

Contact:
Roxgold Inc
Robert Sibthorpe
President/CEO
604.689.2599

Riverstone Resources Inc
Michael D. McInnis
President
604.801.5020
or Raju Wani
Investor Relations
403.240.0555
or Ron Cooper
Investor Relations
604.986.0112
or Don Mosher
Corporate Development
604.685.6465

by Greg Klein

Roxgold, Riverstone report Burkina Faso Gold Assays of 62.8 g/t over 16m

September 7th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningRoxgold Inc TSXV:ROG in joint venture with Riverstone Resources Inc TSXV:RVS announced results from their Yaramoko Gold Permit in Burkina Faso. Highlights include 62.8 g/t gold over 16 metres (including 226.9 g/t over 3 metres) 17.2 g/t over 12 metres (including 32.3 g/t over 6 metres), 14.1 g/t over 9 metres (including 42.6 g/t over 2 metres), 39 g/t over 2 metres, 5.4 g/t over 12 metres and 5.2 g/t over 12 metres.

Roxgold can earn a 60% interest in Yaramoko by spending $1.5 million, paying Riverstone $100,000 and issuing Riverstone 360,000 shares over three years.

Roxgold Director Al Fabbro tells ResourceClips.com, “Riverstone had the property in 2007, but they were getting heat from the government for not doing any exploration. They didn’t have anything budgeted for exploring Yaramoko, Bissa West or Solna [three nearby concessions] in the 2010 to 2011 season, and they decided it would be prudent to joint-venture and get other people’s money to spend on these concessions. So we came to a deal with them last year.

We’re very happy with the results we released today. We think they’re exceptional. It’s the first time we’ve seen a grade like this in Burkina—Al Fabbro

“Officially, we’re project operator now, but we agreed they would operate until the end of the drill program, so they’re still actually operating. Once we resume in October or the end of September, we’ll be the operator.

“We don’t have the accounting finished yet, but we’ve made all of our earn-in commitments,” Fabbro adds. “We’ve spent about $1.8 million on Yaramoko. Our commitment was $1.5 million. We’ve made all the cash payments and issued all the shares, so once we get the accounting complete they will have to start contributing 40% of the budget.

“We’re very happy with the results we released today. We think they’re exceptional. It’s the first time we’ve seen a grade like this in Burkina. We know you can expect that in these Greenstone Belts. You get it in Canada; you get it in South America, other parts of Africa. They’re all basically the same geology, so there was no reason why we wouldn’t see it in Burkina too. Burkina is an underexplored country, so I think we’ll see more of these high-grade ore shoots there.”

Fabbro continues, “We like this country; the people are friendly. They’re quite poor, so they appreciate the business. My colleague [President/CEO Robert Sibthorpe] spent a lot of time in Africa, and he says it’s one of the top three countries he’s worked in.

“The infrastructure’s not bad. We can do anything in there. The only problem is the labs are a little taxed; we’re finding a 12-week lag. That’s why we shipped the last batch of core out to Canada.”

Fabbro concludes, “Again, we’re really excited about today’s results. We’ve got more to come; there are another 31 holes in the pipeline, and we think some of them could be as good as the ones we’ve already released. So we’re really anxious to see this go further. It’s very early days in this discovery; we’ve got lots of work to do, and we’re very optimistic.”

View Company Profile

Contact:
Roxgold Inc
Robert Sibthorpe
President/CEO
604.689.2599

Riverstone Resources Inc
Michael D. McInnis
President
604.801.5020
or Raju Wani
Investor Relations
403.240.0555
or Ron Cooper
Investor Relations
604.986.0112
or Don Mosher
Corporate Development
604.685.6465

by Greg Klein

Roxgold President Bob Sibthorpe on Burkina Faso gold assays of 24.62 g/t over 6m

March 1st, 2011

“We drilled about 33 holes at Yaramoko during December and January, but there’s a high level of activity in that country now, so the local lab was very slow with the results. That’s why it took so long. We only have the first 14 of 33, so as much as we’re pleased with what we’ve got, we’re hoping for even better on the next set of results. We’re drilling about 10 different areas with this first set, it’s very much the first drilling on a lot of these geochemical soil and rock anomalies. This one that we started on, when we started drilling the local artisanal minors started digging in front of us. There’s upwards of 200 to 300 of them on the property right now—to the point where we’re going to have to stop it because it’s beginning to interfere with our work. They never really hurt you but they can get in the way and then you have a safety concern. But there must be something interesting on the surface as well as underneath, because they don’t work that hard for that stuff unless they get paid.

“We’re quite excited about the area. We have another hole coming through there in the next bunch and it looks pretty good too. We’ll definitely be coming back there with the core drill and try to get a handle on its dimensions. We optioned three properties from Riverstone Resources and, this year, we’re doing 25 or 30 drill holes on each of the three concessions and that’ll finish two thirds of our work this year. So, lots of drilling this year.

“Burkina Faso is a great place to work and I think there’s lots of gold there. It’s more a matter of effort than it is of finding it. A lot of companies are having a lot of success there.”

View Company Profile

See Press Release Summary

Roxgold reports Burkina Faso Gold Assays up to 24.62 g/t over 6m

February 28th, 2011

Roxgold Inc TSXV:ROG in joint venture with Riverstone Resources Inc TSXV:RVS announced results from its Yaramoko Gold Concession in Burkina Faso, West Africa. Assays include 24.62 g/t gold over 6 metres (including 70.5 g/t over 2 metres), 0.62 g/t over 62 metres (including 1 g/t over 16 metres and 2.29 g/t over 6 metres), 2.28 g/t over 4 metres, 1.15 g/t over 6 metres, 2.05 g/t over 2 metres and 1.13 g/t over 3 metres. Roxgold has an option to earn 60% of the property and is the project operator.

President/CEO Robert Sibthorpe tells ResourceClips.com, “We drilled about 33 holes at Yaramoko during December and January, but there’s a high level of activity in that country now, so the local lab was very slow with the results. That’s why it took so long. We only have the first 14 of 33, so as much as we’re pleased with what we’ve got, we’re hoping for even better on the next set of results. We’re drilling about 10 different areas with this first set, it’s very much the first drilling on a lot of these geochemical soil and rock anomalies. This one that we started on, when we started drilling the local artisanal minors started digging in front of us. There’s upwards of 200 to 300 of them on the property right now—to the point where we’re going to have to stop it because it’s beginning to interfere with our work. They never really hurt you but they can get in the way and then you have a safety concern. But there must be something interesting on the surface as well as underneath, because they don’t work that hard for that stuff unless they get paid.

“We’re quite excited about the area. We have another hole coming through there in the next bunch and it looks pretty good too. We’ll definitely be coming back there with the core drill and try to get a handle on its dimensions. We optioned three properties from Riverstone Resources and, this year, we’re doing 25 or 30 drill holes on each of the three concessions and that’ll finish two thirds of our work this year. So, lots of drilling this year.

“Burkina Faso is a great place to work and I think there’s lots of gold there,” Sibthorpe concludes. “It’s more a matter of effort than it is of finding it. A lot of companies are having a lot of success there.”

View Company Profile

Contact:
Robert Sibthorpe
President/CEO
604.689.2599

by Ted Niles