Canada-based gold major Iamgold has announced an initial mineral resource estimate for the Gossey satellite deposit, located about 15 km north-west of its Essakane operation in Burkina Faso.
The resource estimate comprises 10.5-million tonnes of indicated resources averaging 0.87 g/t of gold for 291 000 oz and 2.9-million tonnes of inferred resources averaging 0.91 g/t of gold for 85 000 oz.
More than 70% of the delineated resources are contained within shallow, soft, saprolite and transition hosted mineralisation.
“The initial resource estimate reported for the Gossey deposit confirms the prospectivity of the Gossey – Korizena trend to host significant gold mineralisation. We believe there is favourable potential for additional discoveries within our extensive exploration concessions surrounding the Essakane operation,” Iamgold exploration senior VP Craig MacDougall commented in a statement this week.
The Essakane mine (on a 100% basis and effective as at June 5) hosts probable mineral reserves totalling 158.2-million tonnes grading 0.89 g/t gold for 4.5-million ounces of contained gold, and indicated mineral resources (inclusive of mineral reserves) of 159.8-million tonnes grading 0.95 g/t gold for 4.9-million ounces of contained gold and inferred mineral resources of 20.7-million tonnes grading 0.88 g/t gold for 589 000 oz of contained gold.
The company holds just over 1 000 km2 of mineral rights surrounding its Essakane mining operation.
The Gossey - Korizena exploration trend, located about 15 km northwest of the Essakane mine, extends for some 20 km along strike. The deposit is located near the Gossey village which may require the development of a re-location programme to accommodate future development of some portions of the deposit, similar to the one that was completed previously at Essakane.