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$BAA News out: Banro Announces Reserve Growth of 9% to 3.18 Million Ounces After Depletion in Twangiza and Namoya

The Twangiza Proven and Probable Mineral Reserves increased by 11% to 1.82 million ounces (“Moz”) of gold (27.67Mt @ 2.05g/t Au) after depletion due to changes in cut-off grade, reversal on bulk density and revision of the pit design. This gives Twangiza a 14-year mine life.

At Namoya, the Proven and Probable Mineral Reserves have increased by 7% to 1.36 Moz of gold (20.94Mt @ 2.02g/t Au) after depletion, revision of the pit designs, addition of gold-in-process and additional drilling results at the Namoya Summit - Filon B portion of the Namoya Summit deposit.

Banro’s overall Mineral Reserves have grown by 9% to 3.18 Moz of gold (48.61Mt @ 2.03g/t Au) at US$1,200/oz gold price.

Banro’s total Measured and Indicated Mineral Resources for all its properties is 7.04 Moz of gold (141.94Mt @ 1.54g/t Au), and Inferred Mineral Resources of 5.08 Moz of gold (93.29Mt @ 1.70g/t Au).

http://www.banro.com/news-events/news-releases/banro-announces-reserve-growth-of-9-to-318-million-20160419