Oromin Explorations Ltd. reported that the full feasibility study for the Oromin Joint Venture Group’s (OJVG) gold project in the Sabodala Gold District of Senegal, West Africa, is on track for completion in late June and public release in early July, 2010. Oromin holds a 43.5% interest in OJVG, with the remainder held by two private companies: Bendon International (43.5%) and Badr Investment and Finance (13%). Oromin is the project operator.
Oromin said the Senegal government has granted OJVG a 15-year renewable mining license to proceed with the project in accordance with the recommendations of the full feasibility study being prepared by SRK Consulting (Canada) and Ausenco Canada.
The study will propose fast-track development of a stand-alone open-pit/underground mine complex with initial production from five deposits feeding a central 4,400-mt/d carbon-in-leach mill. Recent test work indicates that the mill's throughput capacity can be increased to more than 7,000 mt/d in the early years of the proposed mine life when processing soft oxide and saprolite ores.
Chet Idziszek, Oromin’s president and CEO, said, “The economic potential of the project as presented in the feasibility study will only represent a portion of this project’s overall value. Much of the project’s upside remains to be defined in targets that have yet to be fully evaluated, such as Niakafiri SE, Maki Medina, Koulouqwinde, Kobokoto, Kotouniokolla and Golouma NW.”