Roxgold Inc. ("Roxgold" or the "Company") is pleased to announce that it has received a three-year extension to its 100% owned Yaramoko exploration permit in Burkina Faso, West Africa.
The Yaramoko permit hosts the high grade 55 Zone (the "Project") for which the Company is currently completing a NI43-101 compliant Preliminary Economic Assessment ("PEA") scheduled for release in September 2013.
The exploration permit had an original expiry date of September 8, 2013 which has now been extended to September 8, 2016. The extension to the Yaramoko exploration permit, granted by the Burkina Faso Department of Energy and Mines, provides Roxgold with additional time in which to expand the existing 55 Zone, complete economic studies and submit an application to convert the area required for potential future operations to a mining permit. In addition, it enables Roxgold to continue its ongoing regional exploration program over the full 167km2 permit area.
"Burkina Faso continues to demonstrate why it is one of the leading emerging gold jurisdictions in the world", commented John Dorward, Roxgold's President and CEO. "This extension, which is the maximum available, is a reflection of Roxgold's significant investment at Yaramoko and further evidence of the Burkina Faso Government's positive approach to encouraging mining development."
Roxgold's updated resource estimate and PEA remain on track for delivery in the third quarter of 2013. In addition to the two drill rigs currently completing the infill drilling program at the 55 Zone, the Company has one drill rig active on regional exploration targets.