Name of the Project
Sabodala-Massawa gold project.

Location
The project is located in Senegal.

Project Owner/s
Endeavour Mining.

Project Description
The Massawa deposit is being integrated into the Sabodala mine through a two-phased approach as outlined in the 2020 prefeasibility study. 

Phase 1 of the expansion will facilitate processing of an increased proportion of high-grade, free-milling Massawa ore through the Sabodala processing plant, which will avoid bottlenecks and prevent gold loss to tailings. The addition of the Massawa ore will increase the average processing head grade from 1.5 g/t to a peak head grade of 2.8 g/t while maintaining milling capacity at the current 4-million- to 4.2-million-tonne-a-year level. 

The plant upgrades are expected to increase the Sabodala-Massawa gold production by up to 90 000 oz/y.

Phase 2 of the expansion will add an additional processing circuit to process the high-grade refractory ore from the Massawa deposit through the addition of a new refractory ore plant. A definitive feasibility study for Phase 2 is under way and due for completion in the fourth quarter of 2021.

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
Phase 1 is expected to be completed by the end of 2021.

Latest Developments
Endeavour has started on Phase 1 of the Sabodala-Massawa mine.

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.