Tijirit Gold Project, Mauritania
Plans to expand the resource and fast-track development toward production
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We are negotiating to acquire the high-grade undeveloped Tijirit Gold resource, located 40km south of the 20Moz Tasiast Mine. The project hosts an existing Mineral Resource Estimate (MRE) of 169,450oz at 1.64 g/t Au Measured + Indicated resources and 648,790oz at 1.92 g/t Au of Inferred resources, using a cut-off grade of 0.4 g/t in-pits and varying top-cut grades. These MRE results are based on extensive diamond and RC drilling (+90,000 metres completed).
A 2018 Preliminary Economic Assessment (PEA) by Ausenco demonstrated strong economics, with a positive NPV at a gold price of US$1,250/oz and an initial eight-year mine life based on a 1 Mtpa plant, increasing to 1.64 Mtpa throughput in Year 5. Metallurgical recoveries averaged 96% across multiple ore zones.
We plan to update the resource model and expand high-grade zones. We will assess near-term production options as the Mauritanian Government has stipulated first production by end December 2027, although we expect rational movement on this timetable as it progresses Tijirit.
Tijirit represents a near-term, high-value asset to complement our greenfield exploration portfolio.