Name and Location
Makabingui gold project, Senegal.

Client
Bassari Resources.

Project Description
The Makabingui project currently hosts a mineral resource that comprises 11.9-million tonnes averaging 2.6 g/t gold for a contained one-million ounces of gold, classified as indicated and inferred resources. The initial mining phase focuses on the indicated component of the resource, based on openpit mining, with conventional gravity and carbon-in-leach (CIL) processing circuits.

The feasibility study completed on the project is based on a 300 000 t/y hard-rock operation, initially from four high-grade openpits delivering 50 000 oz/y over a 3.4-year mine life. Processing will be undertaken in two stages.

Stage 1 will be a circuit to maximise gravity recoverable gold, with Stage 2 being a conventional CIL circuit. The plant will be operated 24/7, with a design availability of 90% and a processing treatment rate of 38 t/h.

Additionally, there is exploration and mine-life upside within the Makabingui one-million-ounce resource and the prospective area to the south.

Net Present Value/Internal Rate of Return
The project has an estimated net present value of $63-million and an internal rate of return of 404%, with payback from the start of production estimated at 12 months.

Value
The project is estimated at $12.1-million.

Duration
An indicative development timeframe to first gold production is eight months, with the critical path being the processing plant construction.

Latest Developments
Bassari has identified potential cost reductions in capital and operating expenditure at its Makabingui gold project, in Senegal.

The company has identified significant improvements to the project’s process flowsheet and has earmarked a possible A$800 000 capital saving by including crushing as part of the mining contract.

Further cost improvements have been identified by locating the primary and secondary crushing facilities at the mining area on the run-of-mine pad, with the crushers to be procured as off-the-shelf mobile units, which will save on cash costs.

In addition, the existing wet scrubber currently installed at the plant will be removed from the processing plant, as the existing double-deck screen is considered adequate, further reducing the expected maintenance costs and power and water requirements.
Meanwhile, Bassari has entered into a gold refining agreement with refiner TCA SPA.

“Securing a gold refining agreement with TCA puts us another step closer to fast-tracking Makabingui into production,” says Bassari MD Jozsef Patarica.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Bassari Resources, tel +613 9614 0600, fax +613 9614 0550 or email admin@bassari.com.au.