SEMAFO announced the positive results of a Preliminary Economic Assessment (PEA) confirming the economic potential of the Wona underground deposit. The PEA is based on December 2008 resources estimates with the inclusion of 2009 drill results up to WDC 99. The remainder of reported 2009 drilling results (WDC 100 to WDC 146) were not included in the PEA, nor does it include any inferred resources. Highlights of the PEA (using an $800/oz gold price) include Indicated resources attributable to the underground mine of approximately 4.5 million tonnes at 3.2 g/t Au diluted for over 460,000 ounces, with a mine life of more than 6 years at 2,000 tpd and cash operating cost of $43 per tonne.
SEMAFO today announced its most recent drilling results at the Mana Mine in Burkina Faso. These results underscore the robust nature of a significant high-grade lode located just below the bottom of the Wona north pit. Results include the Company’s best ever intercept at Mana, 5.24 g/t over 57.8 m (WDC 133). The Company’s 2009 exploration program at Mana began in April. As of October 21, a total of 29,309 meters of drilling have been completed; drill holes WDC80 up to WDC160. The exploration program remains in progress. Assay results have been received up to hole WDC 146. The current drilling program confirms the NE at-depth high-grade extension of the Wona zone.
SEMAFO today announced the results of a recent airborne geophysical survey of most of the Mana’s 1,695 km˛ property in Burkina Faso, Africa. SEMAFO says the survey results clearly identify the Wona structural corridor, current host to the Wona open-pit gold mine, and suggest that the Wona shear zone corridor may extend over a distance of more than 30 kilometres. In addition, important similar lineaments are observed elsewhere over the 80-kilometer long property, either on strike or parallel to the Wona mine. The ultra high-resolution low elevation helicopter borne magnetic and radiometric geophysical survey was conducted from August 16 to September 19, 2009. A total of 11,520 kilometres of lines were flown, using 100-metre line spacing.
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