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The Company believes there are tremendous opportunities for exploration success on the large land holdings located on the Birimian Greenstone Belt where several large, world class deposits have been discovered across the border in Mali.

Exploration

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Exploration

Focused on Adding Profitable Reserve Ounces

Senegal remains an under explored jurisdiction and Teranga has significant advantages as the “first mover”. The Sabodala combined Mine License covers 291km2  and provides great potential for both near-term reserve and production growth opportunities through increasing millable reserves on existing deposits, as well as the potential for additional processing capacity through heap leaching lower-grade material. Heap leaching testing is currently underway to assess its economic viability.

The Company currently has nine exploration permits encompassing approximately 1,000km² of land surrounding its Mine License along a highly prolific gold belt. Exploration is focused on identifying both flat-lying, near-surface standalone deposits, as well as smaller high-grade satellite deposits that are within trucking distance of the centrally located Sabodala mill.

Teranga will be disciplined about how it invests in exploration. The Company is confident that exploration success will feed its future and therefore remains committed to a modest, systematic multi-year exploration program.

To view the complete Mineral Reserves and Resources summary as at December 31, 2015, click here

Mine License Reserve Development

The Teranga Sabodala Mine License has been expanded to 291km² after the transformational acquisition of the Oromin Joint Venture Group ("OJVG"). 

There continues to be great potential for near term exploration success on the Company's Mine License through further evaluation of the existing deposits in addition to drilling new target areas. 

As Teranga has integrated the OJVG geological database into a combined life of mine plan, a number of areas have been revealed as potential sources for reserves addition within the mining lease. These targets have been selected based on potential for discovery and inclusion into open pit reserves. 

 

Regional Exploration

The Company currently has nine exploration permits encompassing approximately 1,000km² of land covering 70km of strike length on an emerging gold belt. 

Over the past three years, with the initiation of a regional exploration program on this significant land package, a tremendous amount of exploration data has been systematically collected and interpreted to prudently implement follow-up programs. 

Targets are therefore in various stages of advancement and are then prioritized for follow-up work and drilling. Early geophysical and geochemical analysis of these areas has led to the demarcation of at least 50 anomalies, targets and prospects and the Company expects that several of these areas could ultimately be developed into mineable deposits. The Company has identified some key targets that, though early stage, display significant potential. However, due to the sheer size of the land position, the process of advancing an anomaly through to a mineable deposit takes time with a systematic approach to maximize potential for success.

Exploration Program

Exploration and evaluation expenditures for 2016 are expected to total approximately $12 million for both the Mine License and Regional Land Package combined. On the mine license, the objective of the multi-year development program is to add higher grade material earmarked for the mill and to add lower grade for a potential heap leach pad. Two exploration prospects on the Mine Lease; Goumbati West and Golouma North, continue to yield encouraging results from the ongoing 2016 exploration program which will culminate in initial resource estimates for both of these advanced prospects in the third quarter with further drilling on these advanced prospects expected throughout the remainder of 2016. Elsewhere within the Mining Lease, a positive first-pass drill program at Maleko was completed during the second quarter. 

On the regional land package,  Teranga  will focus on the continuation of a systematic regional exploration program designed to identify multi-million ounce satellite and standalone deposits.  In 2016, the Company has been focused on regional targets including Marougou, the Doughnut region , and Bransan prospects. 

2016 Exploration Program:

  Q3 2016 Exploration Update - Senegal (October 28, 2016) 

   Q2 2016 Exploration Update (July 28, 2016)

   Q1 2016 Exploration Update (April 28, 2016)

Technical Report  (released March 23, 2016):

    NI 43-101 Technical Report Prepared by RPA Inc.         Appendix 1 Tables and Figures

2015 Exploration Program - Drill Tables and Figures (released January 28, 2016):

   Mine License and Regional Land Package

2014 Exploration Program - Drill Tables and Figures 

Released February 23, 2015:

    Masato NE
    Golouma NW
    Kerekounda
    Soreto

Released October 30, 2014: 

     Soreto Diamond Drill Hole (DDH) Intercepts

Released September 15, 2014:

    
Masato Reverse Circulation (RC) Intercepts
    
Masato Diamond Drill Hole (DDH) Intercepts 
    Masato Exploration and Infill Drill Program (Map)

Exploration Maps

Sabodala Project

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Sabodala Mine License

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Regional Land Package

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