Name of the Project
Sanbrado underground gold project.

Location
Burkina Faso.

Project Owner/s
West African Resources.

Project Description
A scoping study has proposed the development of an underground development beneath the M5 South openpit at the Sanbrado gold mine.

The study envisages average underground production of 35 000 oz/y of gold over a five-year life-of-mine (LoM). The addition of the M5 South underground to the production plan at Sanbrado is expected to displace almost two-million tonnes of lower-grade openpit material over the LoM, resulting in an increase in production by up to 25 000 oz/y over the current ten-year plan from 2026. Consequently, Sanbrado will maintain production above 200 000 oz of gold.

M5 South underground is expected to deliver 1.8-million tonnes at 3.1 g/t for 188 000 oz of gold over a five-year LoM. It has been designed to use mining equipment in use at M1 South to maximise operational synergies between the two mines.

West African Resources’ unhedged ten-year production outlook estimates production of more than 200 000 oz/y of gold in 2023 and 2024, and more than 400 000 oz/y from 2025 to 2032.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Preproduction capital expenditure is estimated at $20-millon.

Planned Start/End Date
West African Resources is working on the proposed underground development of M5 South, which includes further drilling, geotechnical studies and mine planning. Subject to a positive outcome being achieved from the studies, West African Resources aims to start portal establishment and underground development in the second half of 2025, leading to full underground production by mid-2026.

Latest Developments
West African Resources has reported high-grade gold mineralisation from recent infill underground diamond drilling within the main lode at the M1 South (M1S).

Results from infill diamond drilling at M1S include ­24 m at 55.79 g/t gold, 28.5 m at 37.03 g/t gold, 28 m at 28.52 g/t gold, 22.5 m at 32.98 g/t gold and 25 m at 29.44 g/t gold.

M1S infill drilling comprised 100 holes for 13 398 m of stope definition drilling completed at the M1S underground, targeting mineralisation within stoping panel five between the 1 795 m relative level (mRL) and the 1 695 mRL.

The company says the ore development of panel five started in the first quarter and will provide the majority of development ore for this year’s mine plan. Stoping activities in panel five are expected to start in the 2025 financial year, as per the ten-year mine plan.

A further 2 500 m of infill drilling is planned to target the northern shoots of M1S between the 1 920 mRL and the 1 845 mRL.

The company has noted that additional drilling is under way for the start of ore development in the second half of 2024. Results are expected to be reported in the third quarter.

Meanwhile, 18 000 m of resource definition drilling is planned at M1S, targeting inferred mineral resources between the 1 600 mRL and the 1 350 mRL.

At the end of the first quarter of this year, the 1 770 drill drive was 70% complete, with drilling to start in the second quarter and be completed by the end of the year.

The drill programme is aimed at converting up to 400 000 oz of gold from an inferred mineral resource classification to indicated mineral resource. Results from the resource conversion programme are expected to be released from the third quarter of this calendar year onwards.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
West African Resources, tel + 61 8 9481 7344 or email info@westafricanresources.com.