#Roxgold $ROXG Extends #Koula with 26.5 g/t #Gold Over 16m & 18.5 g/t Over 15m at #Séguéla #CoteDIvoire

Some great hits at depth from Koula.

Koula RC Highlights

16 metres (“m”) at 26.5 grams per tonne gold (“g/t Au”) in drill hole SGRD1084 from 233m including

2m at 115.3 g/t Au from 234m and

1m at 24.7 g/t Au from 246m and

1m at 31.0 g/t Au from 248m

15m at 18.5 g/t Au in drill hole SGRD1088 from 256m including

5m at 24.2 g/t Au from 260m and

3m at 45.1 g/t Au from 268m

7m at 22.3 g/t Au in drill hole SGRC1085 from 256m including

1m at 104.5 g/t Au from 261m

17m at 7.7 g/t Au in drill hole SGRD1081 from 193m including

2m at 41.6 g/t Au from 194m and

1m at 15.3 g/t Au from 206m

TORONTO--(BUSINESS WIRE)-- Roxgold Inc. (“Roxgold” or the “Company”) (TSX: ROXG) (OTCQX: ROGFF) is pleased to announce assay results from down-plunge extension drilling below the high grade deposit, Koula, at the Séguéla Gold Project (“Séguéla”) located in Côte d’Ivoire.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210309005287/en/

Séguéla Gold Project, Côte d’Ivoire:

Highlights from Reverse Circulation (“RC”) and Diamond tail (“RD”) drilling

Koula
16 metres (“m”) at 26.5 grams per tonne gold (“g/t Au”) in drill hole SGRD1084 from 233m including
2m at 115.3 g/t Au from 234m and
1m at 24.7 g/t Au from 246m and
1m at 31.0 g/t Au from 248m

15m at 18.5 g/t Au in drill hole SGRD1088 from 256m including
5m at 24.2 g/t Au from 260m and
3m at 45.1 g/t Au from 268m

7m at 22.3 g/t Au in drill hole SGRC1085 from 256m including
1m at 104.5 g/t Au from 261m

17m at 7.7 g/t Au in drill hole SGRD1081 from 193m including
2m at 41.6 g/t Au from 194m and
1m at 15.3 g/t Au from 206m

“As Séguéla moves closer to a construction decision, we continue to push towards the goal of defining additional mineralization in support of our vision of Séguéla becoming a 150,000 ounce per year producer over ten plus years,” commented John Dorward, President and Chief Executive Officer of Roxgold. “The assay results today, while still early, build our confidence in the potential for Koula to conceptually extend its life via a high-grade underground operation. The strength of mineralization at depth at Koula is similar to what we were seeing at depth down-plunge in Ancien last year – a program which was temporarily put on hold in order to infill and upgrade the in-pit defined Inferred Mineral Resource at Koula for inclusion into the upcoming Feasibility study. While we had initially viewed Koula as an attractive satellite opportunity it is now clear that it has the potential to be the most important deposit defined at Séguéla so far. In addition, our drills have resumed extension testing at Ancien, the other ultra-high grade deposit discovered to date.

“We continue to believe we have only begun to tap the potential of the Séguéla Project and are eager to continue to uncover and test the wealth of additional targets present on the property. While our exploration team continues their work at Séguéla, the critical path for the Séguéla project plan is on track with the Feasibility Study scheduled for the second quarter of this year, followed soon thereafter by a construction decision towards the goal of achieving first gold pour at Séguéla in 2022.”

Paul Weedon, Vice President Exploration commented “Building off the recent high grade results from the conclusion of the infill program, these new results highlight the potential for an underground target extending down-plunge from Koula and provide a high degree of confidence in the high grades over at least 150m down-plunge. Coupled with the 14m at 4.3 g/t intersected in SGRD971 we see mineralization extending at least 250m at depth and I am looking forward to the results from the next round of step-out drilling, which is testing the potential a further 120m down-plunge.”

See the full release with all multimedia features here:  

https://www.businesswire.com/news/home/20210309005287/en/

bit.ly/MasterMetals

Roxgold Produces 133,940 Ounces Exceeding 2020 Guidance $ROXG

Roxgold Produces 133,940 Ounces Exceeding 2020 Guidance, Provides Outlook For 2021

2020 Highlights:

Operations

• Preliminary 2020 gold production of 133,940 ounces exceeded the Company’s annual consolidated production guidance of between 120,000 and 130,000 ounces
• Achieved record annual plant throughput of 512,276 tonnes, exceeding nameplate capacity by 27%
• Reported preliminary gold production of 35,191 ounces in Q4 2020
• Mined a record 149,347 tonnes in Q4 2020
• Continued management and mitigation of COVID-19 to minimize impacts on operations with reduced personnel due to travel restrictions and protection protocols

Financial

• Sold 135,310 ounces of gold for annual gold revenues totalling approximately $240 million
• Generated strong free cashflow (before growth spend)¹ of over $47 million increasing our cash balance from $41.8 million to approximately $61.7 million² as of December 31, 2020
• Strong balance sheet with a net cash position of over $26 million as of December 31, 2020 (cash balance of approximately $61.7 million² and long-term debt face value balance of $35.6 million²)

Growth

• Received Exploitation (mining) permit and Environmental approvals from the government of Côte d’Ivoire to develop and operate the Séguéla Gold Project (“Séguéla”)
• Expanded Séguéla Project with discovery of the Koula deposit and an updated Mineral Resource estimate outlining total indicated mineral resources of 1,044,000 ounces of gold at 2.5 grams per tonne (“g/t”) and inferred mineral resources of 370,000 ounces at 4.8 g/t
• Initiated early works at Séguéla to enable a rapid ramp up to full construction later this year following completion of the Feasibility Study which is anticipated for completion in the second quarter of this year

2020 Preliminary Fourth Quarter and Fiscal Year Key Metrics

		Q1 2020		Q2 2020		Q3 2020		Q4 2020		2020
Ore mined		134,472		112,523		109,767		149,347		506,109
Ore processed (tonnes)		125,879		127,309		131,029		128,059		512,276
Ore processed (tpd)		1,383		1,399		1,424		1,392		1,400
Head grade (g/t)		8.7		8.2		7.7		9.3		8.5
Recovery (%)		97.9		98.0		98.2		98.2		98.1
Gold ounces produced		32,380		32,812		33,557		35,191		133,940
Gold ounces sold		30,126		36,279		30,401		38,504		135,310
Gold sales ($000s)		$48,045		$62,107		$57,379		$72,158		$239,689
Average realized selling price (per ounce)		$1,595		$1,712		$1,887		$1,874		$1,771

“Looking ahead, the pace of progress at Roxgold continues to accelerate, as we announced last month that we broke ground at the Séguéla Gold Project in Côte d’Ivoire, following receipt of the Environmental and Social Impact Assessment and Exploitation permits. The goal of pouring first gold from Séguéla next year is within our reach with early works at Séguéla already initiated to enable a rapid ramp up to full construction following completion of the Feasibility Study in the second quarter of this year. We currently have four drills turning at Séguéla and are eager to share with the market the results of the program which has been focusing on extension and infill drilling at Koula and the continued scout testing of the extensive portfolio of targets within our land package.”

2021 Operating Outlook

	2021
Production (oz)	120,000 – 130,000
Cash operating cost ($/oz produced)3	$580 – $640
All-in sustaining cost ($/oz sold)3	$895 – $975
Sustaining capital spend (included in AISC)	$25 - $30 million
Non-sustaining capital spend	$5 - $10 million
Growth spend (includes exploration and Séguéla study spend)	$15 - $20 million

Roxgold anticipates the Yaramoko Mine Complex will produce between 120,000 and 130,000 ounces in 2021 with cash operating costs3 of $580–640/oz and all-in sustaining costs (“AISC”)4 of $895–975/oz. 

Sustaining capital is expected to decline this year compared to 2020 due to the completion of decline development at Bagassi South, allowing the operation to focus on stoping operations. 

The higher gold price increased the impact of royalties by approximately $30/oz.

See the whole news release here and here on Stockwatch