The Mako Gold Mine in eastern Senegal is operated by Toro Gold’s 90% owned Senegalese subsidiary Petowal Mining Company SA. The remaining 10% is held by the Government of Senegal. Following initial discovery in 2010 the management team fast tracked the Mako Project through development and into production to achieve its first gold pour in January 2018, ahead of schedule, under budget and safely.
Operations are currently in ramp up to achieve steady state commercial production through the first half of 2018.
The Mineral Resource Estimate (“MRE”) tabulated above, is dated 28th February 2016 and is stated above a lower cut-off of 0.5 g/t gold. The Mineral Resource Report was completed by Rick Adams from Cube Consulting Pty Ltd.
The reported Ore Reserves tabulated above are date 16 feb 2016 and have been compiled by Mr Harry Warries. Mr Warries is a Fellow of the Australasian Institute of Mining and Metallurgy and an employee of Mining Focus Consultants Pty Ltd. All stated Ore Reserves are completely included within the quoted Mineral Resources and are quoted in dry tonnes.
The Mako Project is situated in eastern Senegal within the prolific Birimian age “Kenieba Window” geological complex that hosts multiple world class gold mining operations in eastern Senegal and western Mali.
Gold mineralisation at Petowal is hosted mainly within the Felsic Unit which is sandwiched between two basalt sheets and is associated with disseminated and veinlet pyrite, quartz-carbonate-chlorite alteration and veining and is typified by zones of bleaching and hydrothermal brecciation within both the felsic unit and part of the Lower Basalt Unit.
Mineralisation is contained within a kilometre of strike length and over true widths varying between 5 and 40 metres. Mineralisation remains open at depth and previous deep drill holes have already identified higher grade shoots beneath the base of the open pit which are now subject to further exploration during 2018 to more fully assess their potential to support mining operations.
Ore extraction is by open pit using a conventional truck and shovel operation. The mining schedule utilises stock piling resulting in RoM head grade in excess of 2.5 g/t over the first six years of production. The Mining operations are performed by mining services contractor African Mining Services Senegal SUAL.
Processing operations are completed via the use of an industry standard “Carbon in Leach” plant comprising of a crushing circuit, an 8.5MW SAG Mill and gold extraction circuit prior to discharge to a lined tailings facility via a cyanide destruct circuit. The processing facility is anticipated to achieve average life of mine gold recoveries of approximately 89.6 per cent from a target grind of P(80) 125µm;.
Electricity is provided by a diesel fuelled 14MW power station operating on an “N+3” basis.
Water is abstracted from the Gambia River during higher flow periods and is stored in a ~1 million m³ facility for use during the dry season.
Toro started work on the ESIA for the Mako Project early in the development cycle to ensure that environmental and social considerations were embedded in the project design from the earliest stages. The ESIA concluded that the Project can be developed, operated and closed in a manner that should provide a net socio-economic benefit to the local communities and to Senegal without compromising the integrity of the Gambia River, Niokola-Koba National Park (NKNP) nor the broader environment.