Projects - Yako, Burkina Faso
The Yako permits comprise an aggregate area of 442 km2 situated to the southwest of, and contiguous to, Kalsaka. They are currently held by Cluff Mining Burkina SARL under exploration licences (with a 10 per cent. free carried government interest in any production), which were granted in June 2004 for an initial period of three years. West Africa Limited is yet to enter into a mining convention with the Burkina Faso government in relation to the licence.
Exploration activity has been carried out on the permit areas since the mid 1980s. Ridge Mining initially acquired the property in 1996 and in 1997 outlined an inferred mineral resource of 2.5 million tonnes grading 1.9 g/t, equivalent to 150,000 ounces of gold. To date only one of four anomalies thus far identified at the deposit, has been drill-tested.
The Directors believe that once the other anomalies, which are along strike, are drill tested the Yako permit could potentially contain a total resource of at least 300,000 ounces of gold. Due to the increased importance of the Kalsaka project and a preliminary assessment that anticipates a high cement requirement for agglomeration, Yako has become a lower priority target and further exploration work is on hold pending the development of the Kalsaka project.
The Company has agreed with a subsidiary of Anglo American Corporation to pay it a 2 per cent. net smelter return on gold produced from Yako.
Last updated: 2008/05/14 12:03:05 PM
