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Roxgold rises as QV1 resource estimate cheers

Last updated: 21:26 27 Apr 2016 BST, First published: 10:09 27 Apr 2016 BST

Gold pour
First pour at Yaramoko is scheduled for June

Roxgold Inc. (CVE:ROG) has published the results of a maiden mineral resource statement for the QV1 target on its Yaramoko gold permit in Burkina Faso.

The independent report estimated the inferred mineral resource at 563,000 tonnes at 12.14 grams per tonne (g/t) gold at a cut-off grade of 5.0 g/t gold.

The report said the QV1 structure remains open “down plunge” and there is further exploration potential in the QV prime area and the foot wall zone.

"We are pleased to be able to show another milestone in terms of growth on the Yaramoko permit," said John Dorward, president and chief executive officer of Roxgold.

"As we continue to focus on delivering the Yaramoko gold project on time and on budget, with first gold scheduled in June, we are encouraged to have a second mineral resource on the Yaramoko permit that highlights the prospectivity of the permit and Roxgold's potential for organic growth," he added.

Roxgold shares closed up 7.2% at C$1.19.

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