Name of the Project
Sanbrado underground gold project.

Location
Burkina Faso.

Project Owner/s
West African Resources.

Project Description
A scoping study has proposed the development of an underground development beneath the M5 South openpit at the Sanbrado gold mine.

The study envisages average underground production of 35 000 oz/y of gold over a five-year life-of-mine (LoM). The addition of the M5 South underground to the production plan at Sanbrado is expected to displace almost two-million tonnes of lower-grade openpit material over the LoM, resulting in an increase in production by up to 25 000 oz/y over the current ten-year plan from 2026. Consequently, Sanbrado will maintain production above 200 000 oz of gold.

M5 South underground is expected to deliver 1.8-million tonnes at 3.1 g/t for 188 000 oz of gold over a five-year LoM. It has been designed to use mining equipment in use at M1 South to maximise operational synergies between the two mines.

West African Resources’ unhedged ten-year production outlook estimates production of more than 200 000 oz/y of gold in 2023 and 2024, and more than 400 000 oz/y from 2025 to 2032.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Preproduction capital expenditure is estimated at $20-millon.

Planned Start/End Date
West African Resources is working on the proposed underground development of M5 South, which includes further drilling, geotechnical studies and mine planning. Subject to a positive outcome being achieved from the studies, West African Resources aims to start portal establishment and underground development in the second half of 2025, leading to full underground production by mid-2026.

Latest Developments
Recent resource definition drilling at the M1 South (M1S) main zone has intercepted high-grade mineralisation, including 36 m at 11.1 g/t gold and 11 m at 31.2 g/t gold.

Diamond drilling continues to deliver wide zones of high-grade mineralisation beneath the current ore reserves at M1S underground.

This drilling campaign beneath the current M1S ore reserve is scheduled to be completed later this year and will be incorporated into the company’s updated mineral resource estimate and ore reserves, to be released in the first quarter of 2025.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
West African Resources, tel + 61 8 9481 7344 or email info@westafricanresources.com.