The barrage is expected to be complete by June 2014.
The barrage is an important element of the Company’s plan to develop and operate a heap leach mine at the Karma Project. It will enable True Gold to collect water during the 2014 rainy season and ensure the Company has sufficient water available to meet mine construction needs in 2015. The barrage will also offer local residents a valued source of water for agriculture and livestock.
"True Gold’s decision to build the barrage now reflects our strong commitment to developing the Karma Project while assisting nearby communities," said Dwayne Melrose, President and CEO, True Gold.
The Company has awarded the contract to oversee Phase 2 construction of the barrage to South Africa-based SENET (Pty) Ltd. ("SENET"), a leading project management and engineering firm in the field of mineral processing. SENET was the lead engineer of the Karma Project Feasibility Study, and is currently overseeing detailed engineering and design work for the Karma Project.
The barrage, which is fully designed and permitted, is being constructed in two phases across a water drainage system about four kilometres from the Karma Project. Phase 1 was completed in 2013 and involved construction of a one-metre-high dam with sufficient capacity to provide water for exploration operations. Phase 2 will add 1.5 metres to the barrage height and significantly expand the amount of water available. Phase 2 construction is expected to cost approximately $2.5 million.
In the past month, True Gold has released the results of a positive Feasibility Study1 for the Karma Project and received Burkina Faso Council of Minister’s approval for a Karma Exploitation (mining) Permit.
