The Massawa gold project is situated on the Senegalese side of the highly prospective Birimian Greenstone Belt. The Massawa ore body has a strike length of at least 4 km and a current resource of 3.61 Moz at a grade of 2.8 gt-1. The ore body is structurally controlled and located within a package of low-grade regionally metamorphosed volcaniclastic sediments (agglomerates, tuffs, and ash-tuffs), quartz-feldspar, and lithic wackes, carbonaceous shales, hydrothermal breccias, and gabbro and porphyry sills. These rocks have undergone pervasive silica alteration followed by a sericite-ankerite-chlorite alteration event related to mineralization. Two major styles of mineralization are recognized at Massawa from field and laboratory studies. The first stage of sulphide-Au mineralization is associated with disseminated arsenopyrite-pyrite, which follows shear zones in the sedimentary and volcano-sedimentary host rocks
On the 4th of March 2020 Teranga Gold Corporation, a Canadian based gold company entered into a definitive agreement pursuant to which it will acquire a 90% interest in the Massawa Gold Project from a wholly-owned subsidiary of Barrick Gold Corporation (“Barrick”) and Compagnie Sénégalaise de Transports Transatlantiques Afrique de l’Ouest SA (“CSTTAO”) (collectively, the “ Vendors”).
Teranga will embark on a drill program to expand the Massawa project resource base in advance of a definitive feasibility study, which is expected to be completed in 2021.
There is a nearby airstrip located near Teranga’s Sabodala gold project.
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