Reserves & Resources

6.37Moz
Proven & Probable
Gold Reserves

9.26Moz
Measured & Indicated
Gold Resources

2.06Moz
Inferred
Gold Resources

Sabodala-Massawa Mineral Reserves

As of December 31, 2019

Deposits Proven Probable Proven and Probable
Tonnes (Mt) Grade (g/t) Au (Moz) Tonnes (Mt) Grade (g/t) Au (Moz) Tonnes (Mt) Grade (g/t) Au (Moz)
Sabodala 1.88
1.64
0.10
2.75 1.41 0.12 4.63 1.50 0.22
Masato


17.77 1.13 0.64 17.77 1.13 0.64
Golouma West 2.10 2.01 0.14 2.10 2.01 0.14
Niakafiri East 4.49 1.34 0.19 9.43 1.14 0.34 13.92 1.20 0.54
Goumbati West and Kobokoto


1.39 1.33 0.06 1.39 1.33 0.06
Maki Medina


0.84 1.19 0.03 0.84 1.19 0.03
Niakafiri West


1.13 1.10 0.04 1.13 1.10 0.04
Subtotal Open-Pit 6.37 1.43 0.29 35.40 1.21 1.38 41.77 1.25 1.67
Stockpiles 7.22 0.73 0.17


7.22 0.73 0.17
Total Open-Pit with Stockpiles (OP) 13.59 1.06 0.46 35.40 1.21 1.38 48.99 1.17 1.84
Golouma West 1


0.62 6.07 0.12 0.62 6.07 0.12
Kerekounda


0.61 4.95 0.10 0.61 4.95 0.10
Golouma West 2


0.45 4.39 0.06 0.45 4.39 0.06
Golouma South


0.47 4.28 0.06 0.47 4.28 0.06
Subtotal Underground (UG)


2.15 5.01 0.35 2.15 5.01 0.35
TOTAL OPEN-PIT & UNDERGROUND 13.59 1.06 0.46 37.55 1.43 1.73 51.14 1.33 2.19
Sofia Main 5.47 2.66 0.47 5.47 2.66 0.47
Sofia North


2.76 1.87 0.17 2.76 1.87 0.17
Central Zone 0.54 3.94 0.07 9.40 3.52 1.06 9.94 3.54 1.13
North Zone

5.60 4.23 0.76 5.60 4.23 0.76
Delya 0.88 3.56 0.10 0.88 3.56 0.10
Total Massawa Mine Lease 0.54 3.94 0.07 24.11 3.30 2.56 24.65 3.32 2.63
Total Reserves 14.13 1.17 0.53 61.67 2.16 4.29 75.79 1.98 4.82

Notes for Mineral Reserves Summary

  1. CIM definitions were followed for Mineral Reserves. Open pit oxide Mineral Resources are estimated at cut-off grades ranging from 0.35 g/t Au to 0.50 g/t Au.
  2. Mineral Reserve cut-off grades range from 0.41 g/t to 0.61 g/t Au for oxide, 0.47 g/t to 0.79 g/t Au for fresh rock and 1.39 g/t to 1.41 g/t Au for refractory ore, based on a $1,250/oz gold price.
  3. Underground Mineral Reserve cut-off grades range from 2.3 g/t to 2.6 g/t Au based on a $1,200/oz gold price.
  4. Mineral Reserves account for mining dilution and mining ore loss.
  5. Proven Mineral Reserves are based on Measured Mineral Resources only.           
  6. Probable Mineral Reserves are based on Indicated Mineral Resources only.         
  7. Sum of individual amounts may not equal due to rounding.     
  8. The Niakafiri Main deposit is adjacent to the Sabodala village and relocation of at least some portion of the village will be required which will necessitate a negotiated resettlement program with the affected community members.
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Sabodala-Massawa Mineral Resources

As of December 31, 2019

Deposit Domain Measured Indicated Measured and Indicated Inferred
Tonnes Grade Au Tonnes Grade Au Tonnes Grade Au Tonnes Grade Au
('000s) (g/t Au) ('000s) ('000s) (g/t Au) ('000s) ('000s) (g/t Au) ('000s) ('000s) (g/t Au) ('000s)
Sabodala Open-Pit 8,663 1.32 369 5,975 1.61 310 14,638 1.44 678 2,453 1.24 98
Underground


1,631 3.65  191 1,631 3.65 191 460 3.60 53
Combined 8,663 1.32 369 7,606 2.05 501 16,270 1.66 870 2,913 1.61 151
Masato Open-Pit 2,458 0.69 55 22,212 1.16 829 24,670 1.11 884


Underground


1,163 2.75 103 1,163 2.75 103 1,984 2.85 182
Combined 2,458 0.69 55 23,375 1.24 932 25,833 1.19 987 1,984 2.85 182
Gora Open-Pit



Underground


274 4.92 43 274 4.92 43 56 4.87 9
Combined


274 4.92 43 2744.92 43 56 4.87 9
Golouma Open-Pit 354 0.759 3,497 2.93 329 3,851 2.73 338 55 2.79 5
Underground


2,1364.09 281 2,136 4.09 281 851 3.66 100
Combined 354 0.75 9 5,634 3.37 610 5,988 3.21 619 906 3.61 105
Kerekounda Open-Pit











Underground


499 4.88 78 499 4.88 78 235 5.70 43
Combined


499 4.88 78 499 4.88 78 235 5.7043
Maki Medina Open-Pit 115 0.78 2,874 1,053 1.21 41 1,168 1.17 44 42 1.00 1
Underground


179 2.73 16 179 2.73 16 90 2.56 7
Combined 115 0.78 2,874 1,232 1.43 57 1,347 1.38 60 132 2.06 9
Niakafiri East Open-Pit  4,776
1.37
210
14,140 1.14 516 18,916 1,19 726 4,515 0.93 135
Underground


224 2,72 20 224 2.72 20 514 2.70 45
Combined 4,776
1.37
210
14,364 1.16 536 19,140 1.21 746 5,030 1.11 180
Niakafiri West Open-Pit


3,061 1.02 100 3,061 1.02 100 673 0.86 19
Underground


74 2.67 6 74 2.67 6 71 2.84 6
Combined


3,135 1.06 107 3,135 1.06 107 744 1.05 25
Goumbati West - Kobokoto Open-Pit


2,678 1.35 116 2,678 1.35 116 498 0.81 13
Underground


131 3.25 14 131 3.25 14 79 2.90 7
Combined


2,809 1.44 130 2,809 1.44 130 577 1.09 20
Golouma North Open-Pit


170 1.32 7 170 1.32 7 295 1.42 14
Underground


14 2.64 1 14 2.64 1 19 2.93 2
Combined


184 1.42 8 184 1.42 8 314 1.51 15
Diadiako Open-Pit








178 1.27 7
Underground








663 2.89 61
Combined








841 2.54 69
Kinemba Open-Pit


24 1.06 1 24 1.06 1 91 0.95 3
Underground








56 2.52 5
Combined


24 1.06 1 24 1.06 1 147 1.55 7
Kourouloulou Open-Pit


96 11.51 36 96 11.51 36 22 6.71 5
Underground


59 9.15 18 59 9.15 18 86 13.58 38
Combined


156 10.61 53 156 10.61 53 108 12.18 42
Kouroundi Open-Pit


67 0.93 2 67 0.93 2 42 0.74 1
Underground











Combined


67 0.93 2 67 0.93 2 42 0.74 1
Koutouniokolla Open-Pit








85 1.58 4
Underground








22 2.54 2
Combined








108 1.78 6
Mamasato Open-Pit


560 1.45 26 560 1.45 26 305 1.25 12
Underground








42 2.32 3
Combined


560 1.45 26 560 1.45 26 347 1.38 15
Marougou Open-Pit








1,198 1.41 54
Underground











Combined








1,198 1.41 54
Sekoto Open-Pit








485 0.89 14
Underground








25 2.11 2
Combined








510 0.95 16
Soukhoto Open-Pit








550 1.46 26
Underground











Combined








550 1.46 26
Sofia Open-Pit


9,881 2.46 782 9,881 2.46 782 1,302 1.68 70
Underground











Combined


9,881 2.46 782 9,881 2.46 782 1,302 1.68 70
Massawa CZ Open-Pit 494 4.57 73 11,654 3.52 1,319 12,148 3.56 1,391 2,747 3.12 276
Underground











Combined 494 4.57 73 11,654 3.52 1,319 12,148 3.56 1,391 2,747 3.12 276
Massawa NZ Open-Pit


5,748 4.79 885 5,748 4.79 885 185 5.30 31
Underground








2,582 4.50 373
Combined


5,748 4.79 885 5,748 4.79 885 2,767 4.55 405
Delya Open-Pit


760 4.46 109 760 4.46 109 95 3.76 12
Underground











Combined


760 4.46 109 760 4.46 109 95 3.76 12
Tina Open-Pit








1,929 1.05 65
Underground











Combined








1,929 1.05 65
Bambaraya Open-Pit








537 2.15 37
Underground











Combined








537 2.15 37
Total Open-Pit 16,860 1.32 717 81,578 2.06 5,409 98,438 1.94 6,127 18,285 1.53 902
Underground


6,384 3.75 771 6,384 3.75 771 7,836 3.72 938
Combined 16,860 1.32 717 87,962 2.19 6,180 104,823 2.05 6,897 26,120 2.19 1,840

Notes for Mineral Resources Summary

  1. CIM definitions were followed for Mineral Resources.
  2. Open pit oxide Mineral Resources are estimated at cut-off grades ranging from 0.35 g/t Au to 0.50 g/t Au.
  3. Open pit transition and primary rock Mineral Resources are estimated at cut-off grades ranging from 0.40 g/t Au to 1.20 g/t Au.
  4. Underground Mineral Resources are estimated at a cut-off grade of 2.00 g/t Au at Sabodala, and at 2.84 g/t Au at Massawa.
  5. Measured Resources at Sabodala include stockpiles, which total 4.3 Mt at 0.75 g/t Au for 104,000 oz.
  6. Measured Resources at Masato include stockpiles, which total 2.5 Mt at 0.69 g/t Au for 55,000 oz.
  7. Measured Resources at Maki Medina include stockpiles, which total 0.1 Mt at 0.78 g/t Au for 3,000 oz.
  8. Measured Resources at Golouma include stockpiles, which total 0.4 Mt at 0.75 g/t Au for 9,000 oz.
  9. High grade assays were capped at grades ranging from 1.5 g/t Au to 340 g/t Au.

10. Mineral Resources are inclusive of Mineral Reserves.

11. Open-pit shells were used to constrain open-pit resources.

12. Mineral Resources are estimated using a gold price of $1,450 per ounce.

13. Sum of individual amounts may not equal due to rounding. 

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Wahgnion: Open-Pit Mineral Reserves

As of December 31, 2019

Deposit Proven Reserves Probable Reserves Proven and Probable Reserves
MTonnes Grade
(Au g/t)
Moz Au MTonnes Grade
(Au g/t)
Moz Au MTonnes Grade
(Au g/t)
Moz Au
Nogbele  1.61 1.41 0.07 14.22 1.47 0.67 15.83 1.46 0.74
Samavogo


5.19 1.98 0.33 5.19 1.98 0.33
Stinger 0.15 2.06 0.01 5.60 1.65 0.30 5.75 1.66 0.31
Fourkoura 0.49 1.71 0.03 2.41 1.57 0.12 2.90 1.60 0.15
 Subtotal Open Pit2.24 1.520.1127.431.611.4229.671.601.53
 Stockpiles0.65 0.850.02  
0.650.850.02
Total Open Pit with Stockpiles 2.89 1.37 0.13 27.43 1.61 1.42 30.32 1.59 1.55

Notes for Mineral Reserves Summary

  1. CIM definitions were followed for Mineral Reserves.
  2. Mineral Reserve cut-off grades range from 0.38 g/t to 0.48 g/t Au for oxide and 0.53 g/t to 0.64 g/t Au for fresh rock.
  3. Mineral Reserve is based on a $1,250/oz gold price.
  4. Mineral Reserves account for mining dilution and mining ore loss.
  5. A minimum mining width of 2.5 metres was used.
  6. Proven Mineral Reserves are based on Measured Mineral Resources only.
  7. Probable Mineral Reserves are based on Indicated Mineral Resources only.
  8. Sum of individual amounts may not equal due to rounding.
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Wahgnion: Open-Pit Mineral Resources

As of December 31, 2019


Measured Resources Indicated Resources Measured + Indicated Resources Inferred Resources
Deposit Mtonnes

Grade
(Au g/t)

Moz MTonnes Grade
(Au g/t)
Moz MTonnes Grade
(Au g/t)
Moz MTonnes Grade (Au g/t) Moz
Nogbele N/Nangolo 2.06 1.11 0.07 21.18 1.38 0.94 23.23 1.35 1.01 2.64 1.27 0.11
Nogbele S 0.461.81 0.03 4.71 1.29 0.19 5.18 1.33 0.22 0.33 1.14 0.01
Fourkoura0.59 1.63 0.03 4.10 1.42 0.19 4.69 1.45 0.22 0.24 1.53 0.01
Samavogo

8.06 1.91 0.49 8.06 1.91 0.49 1.46 1.65 0.08
Stinger 0.16 2.15 0.01 8.30 1.56 0.42 8.46 1.58 0.43 0.57 1.56 0.03
Total 3.27 1.36 0.14 46.35 1.50 2.23 49.62 1.49 2.37 5.24 1.41 0.24

Notes for Mineral Resources Estimate

  1. CIM definitions were followed for Mineral Resources.
  2. Mineral Resource are reported at cut-of grades ranging from 0.320 g/t Au to 0.403 g/t Au in oxide, and at cut-off grades ranging from 0.388 g/t Au to 0.541 g/t Au in transition and primary rock.
  3. Measured Resources at Nogbele North and Nangolo include stockpiles, which total 0.65 Mt @ 0.85 g/t Au for 18,000 oz.
  4. High grade assays were capped at grades ranging from 2.5 to 48 g/t Au.
  5. Mineral Resources are constrained by resource pit shells.
  6. Mineral Resources are estimated using a long-term gold price of US$1,500 per ounce.
  7. Totals may not add due to rounding. 
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Golden Hill: Open-Pit Mineral Resources

As of April 27, 2020

 

Measured Resources Indicated Resources Measured + Indicated Resources Inferred Resources
Deposit Tonnage
(000 t)

Grade
(Au g/t)

Contained Metal
(000 oz Au)
Tonnage
(000 t)
Grade
(Au g/t)
Contained Metal
(000 oz Au)
Tonnage
(000 t)
Grade
(Au g/t)
Contained Metal
(000 oz Au)
Tonnage
(000 t)
Grade (Au g/t) Contained Metal
(000 oz Au)
Ma 0 0.00 0 9,036 1.79 521 9,036 1.79 521 6,485 1.97 410
Jackhammer Hill 0 0.00 0 580 1.95 35 580 1.95 35 658 1.57 33
Peksou/C-Zone 0 0.00 0.0 2,160 2.34 163 2,160 2.34 163 2,163 1.96 137
Nahiri 0 0.00 0.0 0 0.00 0.0 0 0.00 0.0 651 1.21 25
A and B-Zones 0 0.00 0.0 843 1.19 32 843 1.19 32 1,523 1.31 64
Total Golden Hill 0 0.00 0 12,620 1.85 752 12,620
1.85 752 11,480 1.81 669

Notes for Mineral Resource Estimate 

  1. CIM (2014) definitions were followed for Mineral Resources
  2. Mineral Resources are reported at cut-off grades ranging from 0.49 g/t Au to 0.55 g/t.
  3. The effective date for all deposits is April 27, 2020.
  4. High grade assays were capped at grades ranging from 2 g/t Au to 30 g/t Au.
  5. Mineral Resources are estimated using a long-term gold price of US$1,800 per ounce.
  6. A minimum thickness of two metres was applied.
  7. Mineral Resources are constrained by preliminary pit shells.
  8. Totals may not add due to rounding.
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