AMN - SENEGAL: Record production at Sabodala

Teranga Gold Corporation achieved record quarterly gold production at the Sabodala project in Senegal with 57,557 ounces produced for the three months ended June 30, 2017. During the first half of 2017, the company produced 114,460 ounces of gold.

"We are on track to achieve our 2017 production guidance range of between 205,000 and 225,000 ounces," said Teranga's president and CEO Richard Young. "The operations at Sabodala are running well. We continue to reconcile well to reserves and plant throughput is benefitting from the mill optimisation project that was completed last year."

Sabodala is within the West African Birimian geological gold belt in a region of Senegal that has only recently been opened for mining and exploration but already established itself as a significant gold camp with more than 10 million ounces discovered. The Sabodala project is the only large-scale, gold mine to come into operation in Senegal.

Teranga also announces that the feasibility study for the Banfora Gold Project in Burkina Faso is nearing completion and is expected to be released in August. 

Richard Young said, "At present, the process flowsheet, resource modelling, operating and capital costs are meeting the expectations envisaged when management initially reviewed the Banfora project prior to our decision to acquire Gryphon Minerals.

"As a result, the board has sufficient comfort with the project to approve the investment of an additional $10 million towards further advancement of construction readiness activities, such as improvements to local site infrastructure and commencement of front-end engineering designs, prior to completion of the feasibility study and in advance of a full construction decision, both of which are expected next month."

Teranga is a multi-jurisdictional West African gold company focused on production and development as well as the exploration of more than 5000sqkm of land located on prospective gold belts. Since its IPO in 2010, Teranga has produced more than 1.2 million ounces of gold from its operations in Senegal.

The company is also advancing its Banfora development project and conducting extensive exploration programs in Senegal, Burkina Faso and Côte d'Ivoire.

www.terangagold.com