Modern Mining January 2015

MINING News

Amara lifts Yaoure indicated resources by 63 %

AIM-listed Amara Mining plc has announced an updated NI 43-101 compliant mineral resource estimate for its 100 %-owned Yaoure gold project in Côte d’Ivoire. The project is now estimated to have a resource of 6,8 million ounces – 4,4 million in the indicated category (106,3 Mt at 1,29 g/t) and 2,4 million in the inferred category (63,0 Mt at 1,19 g/t). The updated estimate represents a 1,7 million ounce (63 %) increase in the higher confidence indi- cated category compared to the mineral resource update announced in September 2014. According to Amara, Yaoure is the largest gold development project in West Africa in terms of mineral resources. Amara’s total mineral resources are 9,6 million ounces – apparently the largest resource base of any London-listed junior miner. The higher grade indicated mineral resources

are contained within US$950 and US$800 per ounce pit shells. The US$950/oz pit shell contains 3,1 million ounces (64, 8 Mt at 1,48 g/t) in the indi- cated category, a 32 % increase compared to the September resource update, while the US$800/ oz pit shell contains 2,6 million ounces (50,7 Mt at 1,57 g/t) in the indicated category, a 44 % increase compared to the previous update. Amara says there is further exploration upside as the deposit remains open along strike with indications of additional gold in parallel structures to the west (towards surface). A Pre-Feasibility Study (PFS) is expected in March 2015. Amara anticipates that this will confirm the compelling economics outlined in the Preliminary Economic Assessment (PEA) due to Yaoure’s excellent exist- ing infrastructure, including the availability of low-cost hydro-electric power. 

Geologists on site at the Yaoure gold project in Côte d’Ivoire (photo: Amara Mining).

Stellar Diamonds plc, the AIM-listed diamond development company focused on West Africa, has issued an operational update on the trial min- ing at its 5 ha Baoulé kimberlite pipe in Guinea. The trial mining has yielded a total of 2 145 carats to date (early January) at an average grade of 15 cpht and high quality gems continue to be recovered including stones of 8,5 ct and 6,6 ct. The processing plant is running at the target rate of 50 t/h and a monthly production of 2 000 carats is Trial mining at Baoulé pipe going well

expected, assuming the average grade of 15 cpht is maintained. Stellar Diamonds Chief Executive Karl Smithson commented: “We are pleased with the on-going progress of the trial mining at Baoulé. The regular occurrence of larger gem quality stones is highly encouraging, as is maintaining our target plant processing capacity and run of mine grade in order to achieve our objective of processing 2 000 carats per month during 2015.” 

January 2015  MODERN MINING  13