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ROXGOLD YARAMOKO DEPOSIT (1.157Moz)

19 January 2014

YARAMOKO DEPOSIT 

Project Location and Access

The Yaramoko property is located in the Province of Balé in southwestern Burkina Faso and covers approximately 167km2.

The property is accessible from Ouagadougou by a paved highway approximately 200 km west to the village of Ouhabou,

and then north, northwest by laterite road of 60 km to the village of Bagassi which is centred in the exploration permit. Alternative access is possible via Boromo, approximately 180 km south west of Ouagadougou of and then turning off on a laterite road for approximately 45 km.

Project history

–¬†¬†¬†¬†¬†¬†¬†¬† PNUD-BUMIGEB conducted intermittently exploration work in and around the current permit between 1974 and 1995.

–¬†¬†¬†¬†¬†¬†¬†¬† In 1995, Placer conducted soil sampling around Bagassi-Yaramoko on behalf of the company Supply Services and Burkina (SASB).

–¬†¬†¬†¬†¬†¬†¬†¬† In 1996, Shield Resources also conducted exploration work in the area of Bagassi, consisting of a ground survey.

–¬†¬†¬†¬†¬†¬†¬†¬† In 2005, Riverstone conducted a geochemical survey over two grids, concurrent with geological mapping, and prospecting in the area of Bagassi-Haho.

–¬†¬†¬†¬†¬†¬†¬†¬† During 2007, Riverstone conducted RC drilling on two prospective areas, the Haho Zone 1 and Haho Zone 2.

–¬†¬†¬†¬†¬†¬†¬†¬† Once Roxgold optioned the property in September 2010, the company completed additional RC drilling between November 2010 and January 2011 on the two main areas of Bagassi South and Bagassi Central.

–¬†¬†¬†¬†¬†¬†¬†¬† By November 2011, Roxgold had earned a 60% interest and purchased the remaining 40% interest from Riverstone, assuming direct control of the exploration programs on Yaramoko.

–¬†¬†¬†¬†¬†¬†¬†¬† In January 2012, Roxgold undertook RC and RAB drilling. The RC drilling was oriented to test for E-W structures north of the 55 Zone.

–¬†¬†¬†¬†¬†¬†¬†¬† April 17, 2012 Roxgold release an NI 43-101 compliant technical report titled ‚ÄúResource update report for the Yaramoko, 55 Zone, West-Central Burkina Faso,‚ÄĚ authored by AGP Mining Consultants Inc.

–¬†¬†¬†¬†¬†¬†¬†¬† 4 March 2013 , Roxgold released¬† resource estimate for the 55 Zone prepared in accordance with National Instrument 43-101.

–¬†¬†¬†¬†¬†¬†¬†¬† On August 27, 2013, Roxgold released an updated resource estimate for the 55 Zone and on Oct. 29, 2013 the company announce that it has filed a NI 43-101 technical report for the Yaramoko Project.

 Project Geology

The Yaramoko deposit is located in North-East portion of Hounde Greenstone Belt in western Burkina Faso which represents a typical granite-greenstone terrain of the Paleoproterozoic domain. The NNE-SSW to N-S elongated belt is host to multiple gold and base metal deposits.

The eastern part of the Houndé Belt is composed of thick basal sequence of tholeiitic basalts, gabbros, and related volcaniclastics. This basal belt is bound to the west by the Boni Shear Zone, which defines the contact younger Tarkwaian type sediments that consist of poorly sorted conglomerates, sandstones, arkoses and pelites. These are succeeded intercalated tuffs and epiclastic volcano-sediments. Cherts and quartz veins occur within the volcano-sediments. A number of generations of granitoid plutons also intrude it.

The Boni Shear Zone divides the permit in a north-south direction with Tarkwaian sediments on the west of the permit and with the east underlain by basal tholeiitic basalt-gabbro assemblage. The eastern assemblage has been invaded by several bodies including a diorite body east of the Yaramoko village, a large quartz-bearing granitoid south of Bagassi town, and the smaller granitoid body to the east of Bagassi, which hosts the 55 Zone. A dolerite dyke trends NNE across the southern portion of the property.

DEPOSIT TYPES

The 55 Zone is a shear zone hosted orogenic gold deposit that occurs along an east-west trending shear within a granitic host rock.  The deposit is hosted in a tensional shear within a larger sinistral shear zone. The 55 Zone shear occurs within a granitoid body with minor wedges of mafic volcanics.

Quartz carbonate lode gold deposits such as the 55 Zone are typically structurally controlled vein systems within metamorphic terrains, usually within greenschist facies rocks. These deposits are typically quartz-dominated systems.

MINERALIZATION

On the Yaramoko project the most common type of mineralization is coarse gold hosted in quartz veins in dilation and shear zones in granitoid, felsic porphyry and volcanics. Mineralization occurs within a discreet shear zone and is typically associated with quartz veining and pyrite with many grains of visible gold.

The second type of mineralization encountered is pyrite, occurring in zones of conspicuous shearing primarily in the volcanic rocks, with minimal to no significant quartz veining.

Gold mineralization occurs in an WSW trending sub-vertical structures.

–¬†¬†¬†¬†¬†¬†¬†¬† The vein portion of the 55 Zone is composed of white to glassy quartz with calcite ankerite and albite occurring near or along its contacts. The gold mineralization occurs as coarse free gold with sulphides.

–¬†¬†¬†¬†¬†¬†¬†¬† Mineralization at Bagassi South consists of pyrite hosted in quartz vein and is associated with a halo of quartz, sericitic pyrite alteration.

–¬†¬†¬†¬†¬†¬†¬†¬† Mineralization at the 300 Zone consists of pyrite hosted in a quartz sericite pyrite veining within an east-west trending shear. The 300 Zone is located approximately 4 km to the north of the 55 Zone.

 Mineral Resources

August 27, 2013, Roxgold released an updated resource estimate for the 55 Zone. The resource estimate was prepared by AGP Mining Consultants Inc. in accordance with National Instrument 43-101 Standards for Disclosure of Mineral Properties.

This updated resource estimate returned 1,904,000 tonnes grading 13.88gpt for 850,000 contained ounces of gold in the Indicated category and 860,000 tonnes grading 9.88gpt for 273,000 ounces in the Inferred category with a 3.0gpt cut-off.
The resource estimate is restricted to the 55 Zone and does not include intersections drilled on other zones discovered on the Yaramoko Property.

Source: August 27th, 2013 News Release.

Cut-off

Resource update August 2013

Resource

Grade (capped)

Metal

Category

Tonnes

Au (g/t)

Au (troy oz)

>5 g/t

Indicated

1,433,000

17.15

790,000

Inferred

675,000

11.5

250,000

>3 g/t

Indicated

1,904,000

13.88

850,000

Inferred

860,000

9.88

273,000

>2 g/t

Indicated

2,213,000

12.29

874,000

Inferred

980,000

8.97

283,000


The PEA study concluded that it could be developed as an underground mine using the long-hole stopping method.

www.roxgold.com

NB: Some of the figures are modified from company public data

19 January 2014

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