Teranga Gold Corporation (fka TGCDF)

[geodan]

Oct 26 (Reuters)Teranga MassivePR+Q call
Huge PR, will put just part here +Friday AM Q call

* Company's drill results confirm Banfora reserve model and potential for reserve expansion

* Says on track for construction start-up in second half of 2017 and production as early as 2019 Source text for Eikon: Further company coverage:

https://ca.finance.yahoo.com/news/teranga-golds-drill-results-confirm-213400913.html
TORONTO, ONTARIO--(Marketwired - Oct. 19, 2016) - Teranga Gold Corporation ("Teranga" or the "Company") (TGZ.TO) (TGZ.TO) announced today that it will release its third quarter 2016 financial and operating results on Friday, October 28, 2016 at approximately 6:00 a.m. ET. The release will be followed by a conference call and audio webcast later that morning at 8:30 a.m. ET. where management will review the Company's results and discuss the quarter's highlights.

TORONTO, ONTARIO--(Marketwired - Oct. 26, 2016) -
(All amounts are in U.S. dollars unless otherwise stated)
Teranga Gold Corporation ("Teranga" or the "Company") (TGZ.TO)(TGZ.TO) provided an update on its exploration activities in Burkina Faso, West Africa.
"We have just completed the first phase of a substantial exploration program undertaken to support our three growth objectives for the newly acquired Gryphon assets," stated Paul Chawrun, Chief Operating Officer of Teranga. "The first objective is to confirm and increase the resource base of the Banfora gold project, which includes both a mine license with an area of 89km2 and a regional land package surrounding the mine license comprised of five exploration permits totaling 933km2. The second is to commence exploration programs at both Golden Hill and Gourma. The third and final objective is to complete an updated feasibility study by the end of the second quarter of 2017, which would put us on track for construction start-up in the second half of 2017 and production as early as 2019."
Added, Mr. Chawrun, "Commencing next month, extensive exploration programs are planned across our prospective exploration portfolio in Burkina Faso, Côte d'Ivoire and in Senegal, utilizing the combined experience and expertise of both the Teranga and Gryphon teams."
HIGHLIGHTS
The recent drilling results have been favorable in confirming mineralisation in three of the four deposits defined by previous geological modeling through extension of high-grade shoots from infill drilling and potential expansion of the near-surface resource along strike and at depth in areas.
At the Nogbele deposit, a minimum 200-metre strike extent of broad, shallow, oxide mineralisation has been confirmed at the Tahiti structure.
Also at Nogbele, a new parallel zone to the Nogbele Central pit area demonstrates the potential for a 400-metre strike length of near surface oxide mineralisation.
At the Fourkoura deposit, initial diamond core results are confirming the mineralisation defined by the previous geological models developed predominantly from reverse circulation ("RC") drilling.
At the Samavogo deposit, drilling has been successful in extending a zone of mineralisation in the central part of the deposit and outlining up-dip mineralisation in the south.
"The drill program results at our Banfora gold project are continuing to confirm mineralisation identified within the geological resource models in the areas of the reserve deposits(1) while step out drilling has shown continuity of several deposits both along strike and at depth, giving the potential to increase resources," stated David Mallo, Vice President, Exploration. "While our primary focus up to this point has been on Nogbele, Samavogo, Stinger and Fourkoura, we are set to begin testing eleven advanced stage prospects within trucking distance of the proposed mill, which have the potential for reserve expansion."
DRILLING UPDATE
A total of 6,000 metres of diamond core and 11,500 metres of RC drilling have been completed during the 2016 calendar year at the Banfora gold project, the majority of which was undertaken over the past three months.
The focus of this intensive drilling campaign was to explore strike extensions of mineralized zones, to add shallow oxide resource ounces, to test high-grade plunging shoots and to increase modeling confidence at the deposits comprising the upcoming feasibility study resource estimate. Results are being utilized in updating the geological models as well as deposit wireframes and will be incorporated into the new independent resource update due for delivery in second quarter 2017.
A partial program of confirmatory drilling has now been completed at three of the four deposits which comprised the January 31, 2013 Gryphon Feasibility Study(2): Nogbele, Samavogo and Fourkoura (see Figure 1 in Appendix 1). At the fourth deposit, Stinger, an independent detailed structural evaluation was undertaken to confirm the geologic model and to guide future drilling. It is expected that drilling will commence at Stinger in fourth quarter 2016.
In addition to the recently completed drilling campaign, considerable progress continues on updating and optimizing the January 31, 2013 Gryphon Feasibility Study. Updates will include a revised process design with updated capital and operating costs. Further metallurgical test work is ongoing to assist in the optimisation of the process design. An independent resource and reserves estimate, which is anticipated to be complete in second quarter 2017, will be included in an updated National Instrument 43-101 Technical Report. The new feasibility study will embed Teranga's extensive operational and construction experience in West Africa.
All significant drill hole intersections are presented in Table 1 in Appendix 1.
Nogbele Deposit
The recent drilling results at the Nogbele deposit (see Figure 2 in Appendix 1), ----

Its huge PR rest here: https://ca.finance.yahoo.com/news/teranga-golds-drill-results-confirm-213400913.html