Pasofino Gold's Dugbe Gold Project, located in southern Liberia, is emerging as a significant player in West Africa's gold exploration sector. Situated within the Birimian geological province, known for hosting large and economic gold deposits, the project covers 2559 kms2 of largely unexplored land. The proximity to the Greenville deep-water port, just 70 kilometers away, enhances its logistical advantages.
Through its subsidiary ARX Resources Limited, Pasofino owns 100% of the Dugbe Gold Project, with the Government of Liberia holding a 10% carried interest. The project's mining rights are secured by a 25-year mineral development agreement, renewable thereafter. Despite less than 10% of the area being explored, discoveries like the Dugbe F and Tuzon areas, with a combined Measured and Indicated Resource of approximately 3.3 million ounces of gold, highlight its potential.
The Bukon Jedeh area, with over 80 years of artisanal gold production, and the Tuzon Sackor trend, showing surface gold mineralization up to 3 grams per tonne, are among the promising targets. Pasofino's ongoing exploration and a new drill program aim to further expand the known resources.
The project's mineral reserves support an average annual gold production of 173,000 ounces over a 14-year Life of Mine, with the first five years expected to yield 200,000 ounces annually. A planned 5 million tonnes per annum processing plant will facilitate operations, benefiting from a low strip ratio of 4.2:1.
In January 2024, Pasofino secured $2.3 million in a non-brokered private placement to advance the Dugbe Gold Project. This funding supports the current drill program and feasibility study optimizations, positioning Pasofino to capitalize on the anticipated rise in gold prices, potentially exceeding $2,300/oz by the end of 2024.
For more information on Pasofino Gold's initiatives, visit https://www.pasofinogold.com.
