An updated resource estimate for Teranga Gold Corp.'s Wahgnion gold property in Burkina Faso increased contained gold in the measured and indicated resources by 33% to 2.4 million ounces compared with the estimate in a September 2017 feasibility study.
An updated reserves estimate is anticipated in the third quarter.
Measured and indicated resources total 50.5 million tonnes grading 1.51 g/t of gold, with another 240,000 ounces of gold contained within inferred resources estimated at 5.3 million tonnes grading 1.41 g/t of gold.
The estimate covers the Nogbele North and South, Nangolo, Samavogo, Stinger and Fourkoura deposits and uses cutoffs ranging from 0.32 g/t to 0.403 g/t of gold for oxide material and cutoffs ranging from 0.388 g/t to 0.541 g/t of gold for transitional and primary material.
The update incorporates data from a 73,000-meter infill drill program completed in 2017.
Teranga is targeting an initial gold pour at Wahgnion by the end of 2019 that is expected to increase its annual gold production 50% to between 300,000 and 350,000 ounces.
The company's Sabodala mine in Senegal produced 233,267 ounces of gold in 2017.
