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Wednesday, 28th February 2007 (3239 views)

The commissioning of Etruscan Resources' Youga gold mine in Burkina Faso is on track for June, the mining company has announced.

Youga is co-owned through the subsidiary Cayman Burkina Mines and the Burkina Faso government and it will be operated in collaboration with Burkina Mining Company.

A mineable gold reserve of 6.6 million tonnes with an average grade of 2.7 grams per tonne is available at what will become Burkino Faso's second gold project.

An initial lifespan of 6.6 years has been placed on the Youga gold mine and the property was subject to a feasibility study back in 2005 that forecast a gold production of 88,000 ounces on a yearly basis.

So far, capital expenditure at the property has reached 70 per cent of the full figure of $47 million (£24 million) and Gerald McConnell, Etruscan's president and CEO, has spoken of his belief that when the mine reaches production it will represent a "milestone" in the company's history.

 

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