Name of the Project
Sabodala-Massawa gold project.

Location
The project is located in Senegal.

Project Owner/s
Teranga Gold Corporation.

Project Description
The prefeasibility study (PFS) has demonstrated that Sabodala-Massawa is a top-tier mine, with a large proven and probable reserve base of 75.79-million tonnes at 1.98 g/t gold for 4.8-million ounces of gold.

The PFS focuses on an initial concept to mine the Massawa project’s deposits, leveraging the existing plant at Teranga’s flagship Sabodala gold operations, over a life-of-mine (LoM) of 16.5 years.

Average production over the LoM is estimated at 260 000 oz/y.

Mined nonrefractory ore will be processed at the existing Sabodala processing plant, with average plant throughput estimated 4.6-million tonnes a year. Modifications are in progress to increase the capability for overall gold production and the efficiencies to process the high-grade oxide ore. These additions include a gravity recovery circuit for the coarse gold, an additional leach tank to increase residence time and upgrades to the elution circuits owing to the higher gold content in the feed.

For processing the deposits that contain refractory gold ore, a separate refractory ore treatment plant, with a nominal capacity of 1.2-million tonnes a year, will be installed adjacent to the existing Sabodala plant, with processing expected to begin in 2023.

Terranga plans to modify its existing tailings storage facility (TSF) and the design of its second permitted TSF to accommodate the processing of refractory ores.

The PFS has also outlined the strong potential for growth through further exploration and discovery

Potential Job Creation
Not stated.
 

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at a 5% discount rate, of $1 777 using a gold price of $1 600/oz.

Capital Expenditure
Phase 1 is estimated at $37-million and Phase 2 at $219-million.

Planned Start/End Date
Not stated.

Latest Developments
Teranga plans to continue the technical work in support of a definitive feasibility study, which is expected to be completed in 2021.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Terranga Gold Corporation, tel +1 416 594 0000 or email investor@terangagold.com.