Bassari Resources BSR Gold

Bassari Resources (ASX:BSR) has received the final approval from the Coris Bank International with regards to a credit facility of US$13M to build the Makabingui gold project in Senegal. This is a first step to develop the property which has a total gold resource of approximately 1 million ounces at an average grade of 2.6 g/t. This could be just the start, as Bassari has identified a few additional targets that could add a few hundred thousand ounces to the total resources.

Bassari Resources BSR Gold 2

What makes this project really interesting is the high-grade starter pit. Makabingui hosts a zone of almost a million tonnes with an average grade of 5.7 g/t gold, putting the total size of the starter pit resource at approximately 174,000 ounces of gold. Low hanging fruit, indeed, and it will allow Bassari to quickly generate a substantial amount of (free) cash flow, which could help the company to advance the other properties in its portfolio.

Go to Bassari’s website 
The author has no position in Bassari Resources. Please read the disclaimer

Comments

comments

Comments are closed.