Welcome!

News Feed Item

SEMAFO: Construction of Boungou Mine on Schedule

Infill Drilling Results at Boungou In-Line with Resource Model

MONTREAL, QUEBEC -- (Marketwired) -- 07/17/17 -- SEMAFO Inc. (TSX:SMF)(OMX:SMF) today announced that construction of the Boungou Mine in Burkina Faso was progressing well and is on-budget for commissioning of the open-pit mine in the second half of 2018.

As at June 30, 2017, the following key components had been advanced:


--  Development on schedule with $69 million spent 
--  Construction of the mine 35% complete 
--  Concrete works are progressing on the SAG, vertimill, crusher and surge
    bin foundations 
--  Erection of the leach and water tanks has commenced 
--  On-site delivery of the vertimill, the first long-lead item 
--  Work has commenced on the power plant and fuel depot 
--  Water storage facility has been excavated and is ready to collect 2017
    rainwater 
--  Pre-strip mining at the Boungou deposit has commenced 
--  Construction of the resettlement village 65% complete 
--  1,540 personnel including contractors were employed on site, 93% of whom
    are Burkinabe 
--  1.1 million man-hours have been worked without lost-time injury 

The table below presents the construction milestones for the Boungou Mine and their level of completion:

To view Table 1 - Construction Milestones as at June 30, 2017, please visit the following link: http://media3.marketwire.com/docs/Table_1_Construction_Milestones.pdf

To follow the construction progress, please view the following link to the Boungou Mine photo and video gallery on our website: http://www.semafo.com/English/news-and-media/Natougou-Media-Page/default.aspx

Infill Drill Results from West and East Flank Sectors of Boungou

During the second quarter of 2017, a total of 23,700 meters was drilled in 156 holes, completing the infill programs (40-meter by 40-meter hole spacing) on the West and East Flank Sectors, with 49,400 meters in 326 holes, of the Boungou reserves pit. Results continue to be in line with the 80-meter x 80-meter model. The East Flank, although much smaller, has a similar structure to that of the West Flank.

The geotechnical drilling program on the East and West Flanks has also been completed. Samples have been sent to Rocklab in South Africa to establish engineering parameters.

The following table provides the highlights of the infill assay results received in the second quarter of 2017:


----------------------------------------------------------------------------
BHID                    From        To   Length(1)      Au g/t          Zone
----------------------------------------------------------------------------
TPA1068                140.0     148.0         8.0        5.65    West Flank
----------------------------------------------------------------------------
TPA1069                168.0     174.0         5.0        4.52    West Flank
----------------------------------------------------------------------------
TPA1070                164.0     170.0         6.0     9.48(2)    West Flank
----------------------------------------------------------------------------
TPA1077                153.0     158.0         5.0        5.14    West Flank
----------------------------------------------------------------------------
TPA1111                112.0     118.0         6.0        3.83    East Flank
----------------------------------------------------------------------------
TPA1118                117.0     124.0         7.0        6.28    East Flank
----------------------------------------------------------------------------
TPA1122                140.0     146.4         6.4        4.55    West Flank
----------------------------------------------------------------------------
TPA1124                141.0     146.0         5.0        5.17    West Flank
----------------------------------------------------------------------------
TPA1125                116.0     126.0        10.0        3.34    East Flank
----------------------------------------------------------------------------
TPA1126                148.0     154.6         6.6        5.19    West Flank
----------------------------------------------------------------------------
TPA1130                144.0     148.0         4.0        5.39    East Flank
----------------------------------------------------------------------------
TPA1133                140.0     151.0        11.0     6.40(2)    East Flank
----------------------------------------------------------------------------
TPA1136                115.0     120.0         5.0        6.13    East Flank
----------------------------------------------------------------------------
TPA1137                117.0     124.0         7.0        3.20    East Flank
----------------------------------------------------------------------------
TPA1138                138.0     146.0         8.0        3.27    East Flank
----------------------------------------------------------------------------
TPA1139                155.0     162.0         7.0        3.88    East Flank
----------------------------------------------------------------------------
TPA1140                106.0     110.0         4.0        4.97    West Flank
----------------------------------------------------------------------------
TPA1141                108.0     121.0        13.0        2.13    East Flank
----------------------------------------------------------------------------
TPA1145                122.0     129.0         7.0        3.53    East Flank
----------------------------------------------------------------------------
TPA1149                 86.0      93.0         7.0        4.14    East Flank
----------------------------------------------------------------------------
TPA1151                168.0     176.0         8.0        4.76    East Flank
----------------------------------------------------------------------------
TPA1152                173.0     182.0         9.0        2.36    East Flank
----------------------------------------------------------------------------
TPA1161                118.0     126.0         8.0        5.98    East Flank
----------------------------------------------------------------------------
TPA1166                 80.0      87.0         7.0        4.04    East Flank
----------------------------------------------------------------------------
( 1)All lengths are along the hole axis, and the true thickness is over 80% 
    of the given length.                                                    
(2) Capped at 45 g/t Au                                                     

Michel Crevier, P.Geo MScA, Vice-President Exploration and Mine Geology, is SEMAFO's Qualified Person and has reviewed this press release for accuracy and compliance with National Instrument 43-101.

About SEMAFO

SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation operates the Mana Mine in Burkina Faso, which includes the high-grade satellite deposit of Siou, and is targeting production start-up of the Boungou Mine in the second half of 2018. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "progressing well", "on- budget", "in line with", "targeting", "pursuing", "growth", "opportunities" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability to commission the open-pit Boungou Mine in the second half of 2018, the ability to meet all the construction milestones for the Boungou Mine in 2017 and 2018, the ability to execute on our strategic focus, fluctuation in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, political and social stability in Africa (including our ability to maintain or renew licenses and permits) and other risks described in SEMAFO's documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO's 2016 Annual MD&A as updated in SEMAFO's 2017 First Quarter MD&A, and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. These documents are also available on our website at www.semafo.com. SEMAFO disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.

The information in this release is subject to the disclosure requirements of SEMAFO under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on July 17, 2017 at 7.00 a.m., Eastern Daylight Time.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
Kubernetes is an open source system for automating deployment, scaling, and management of containerized applications. Kubernetes was originally built by Google, leveraging years of experience with managing container workloads, and is now a Cloud Native Compute Foundation (CNCF) project. Kubernetes has been widely adopted by the community, supported on all major public and private cloud providers, and is gaining rapid adoption in enterprises. However, Kubernetes may seem intimidating and complex ...
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
"We focus on SAP workloads because they are among the most powerful but somewhat challenging workloads out there to take into public cloud," explained Swen Conrad, CEO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"Outscale was founded in 2010, is based in France, is a strategic partner to Dassault Systémes and has done quite a bit of work with divisions of Dassault," explained Jackie Funk, Digital Marketing exec at Outscale, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I think DevOps is now a rambunctious teenager – it’s starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are still a relatively small software house and we are focusing on certain industries like FinTech, med tech, energy and utilities. We help our customers with their digital transformation," noted Piotr Stawinski, Founder and CEO of EARP Integration, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We've been engaging with a lot of customers including Panasonic, we've been involved with Cisco and now we're working with the U.S. government - the Department of Homeland Security," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
"We want to show that our solution is far less expensive with a much better total cost of ownership so we announced several key features. One is called geo-distributed erasure coding, another is support for KVM and we introduced a new capability called Multi-Part," explained Tim Desai, Senior Product Marketing Manager at Hitachi Data Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.