Séguéla Gold Acquisition Completes
Roxgold has completed the previously announced acquisition from Newcrest West Africa Holdings Pty Ltd. of a portfolio of 11 exploration permits in Côte d'Ivoire which includes the Séguéla gold project for a total upfront consideration of US$20 million.
"We are very pleased to complete this highly accretive transaction that delivers on creating long-term value for our shareholders. The Séguéla gold project provides a second key asset with significant growth potential both in the near term through the near-surface Antenna deposit and attractive satellite opportunities as well as a highly prospective large land package. We will be immediately commencing a drilling program and a preliminary economic assessment study at Séguéla", stated John Dorward, President and CEO.
Paul Weedon, Vice President, Exploration added, "This acquisition will materially increase Roxgold's overall resource inventory, with work already underway to bring the deposit up to National Instrument 43-101 standards. We also believe there is substantial near-term exploration upside at this deposit, and regionally, with the opportunity to significantly advance Séguéla in the near term with an initial 28,000 metre drilling program to commence next week".