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Overview

The Massawa gold project is located within the Kanoumba permit in eastern Senegal, located within the Kedougou-Kenieba inlier which is underlain by Lower Proterozoic Birimian metasedimentary-volcanic sequences. The project is located about 700 kilometres south east of the capital city of Dakar and approximately 90 kilometres due west of Randgold’s Loulo operation in Mali.

The Massawa feasibility project is being progressed towards a final development decision which includes its potential to meet Randgold’s internal investment filters. These investment criteria include a critical mass of 3Moz of mineable gold capable of delivering an IRR of 20% at $1 000/oz for the project. The project currently falls slightly short of these targets and work is focussing on testing the potential of the high grade portion of the Central Zone (CZ) orebody and the surrounding satellite deposits of KB, Kaviar and others. Results from the CZ and satellite targets have recently highlighted some exciting potential for high grade mineralisation.

Achieved in 2017

  • Expanded Sofia orebody reserves 
  • Converted Delya orebody resources into reserves 
  • Completed drill out of the Massawa Central Zone metallurgical optimisation areas 
  • Updated geological and metallurgical understanding of the Massawa orebodies 
  • Initiated pilot level testwork on Massawa Central and Northern Zones 
  • Completed environmental and social baseline assessment 
  • Tested satellite targets outside the three reserve orebodies 
  • Sterilised TSF and diversion dam infrastructure sites

Targeted in 2018

  • Further expand project reserves 
  • Complete drill out and metallurgical test work of Massawa 
  • Complete final feasibility study and development timeline for project 
  • Add to project reserves through development of satellite orebodies 
  • Complete sterilisation of plant, administration and camp locations

Massawa Mineral Resources and Ore Reserves 2017