HIGHLIGHTS - WOW!!20 Jan 2021 07:18
· Total group-wide reserves of 625,000 ounces ("oz") grading 3.00 g/t across the Company's two projects in Tanzania;
· Total resources of 3.2 million oz grading 3.53 g/t across all three projects in Tanzania (JORC compliant) and Kenya (NI 43-101 compliant) (US$1,350 /oz);
· Exploration drilling at NLGM during 2020 added 173,000 oz to reserves;
· Net reserves increase of 37,000 oz in 2020, after depletion from production during the year and resource optimization;
· Reserves assume a life of mine ("LOM") gold price of US$1,350 /oz;
· Maiden resource of 64,000 oz grading 2.08 g/t declared at open-pit Porcupine South deposit near NLGM with additional drilling planned for H1 2021;
· Two rigs have been mobilized at the West Kenya Project with first assay results expected in February; and,
· Significant upside potential through the conversion of resources across the portfolio.