Desert Gold Delivers PEA Update for SMSZ Project with USD $61 Million After-Tax NPV (10%) and 57% IRR at USD $2,850/oz Gold for Barani and Gourbassi Deposits in West Mali
Original announcement by tmx on
- Company
- Desert Gold Ventures Inc.
- Ticker
- DAU
- Exchange
- TSX
- Region
- Mali
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update, Metallurgy
- Extracted
- 2026-09-15 19:11:16 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Desert Gold Ventures Inc. announced an updated Preliminary Economic Assessment (PEA) for its SMSZ Gold Project in western Mali, highlighting a post-tax NPV(10%) of USD $61 million and an IRR of 57% at a base case gold price of USD $2,850/oz. The updated PEA projects a doubling of gold production to 36 ktpm over a 10-year mine life, with an average gold process recovery of 87% from free-milling oxide and transitional material. The project benefits from a modular plant design and significant gold resources remaining outside the current mine plan, though the study is preliminary and includes Inferred resources.
Reasoning: The updated Preliminary Economic Assessment demonstrates robust economics for the SMSZ Project with increased production and good metallurgical recoveries, supported by a significant resource base. While the study is preliminary and excludes a portion of the total resource, the positive financial metrics and operational flexibility are strong indicators of project potential.
Positive factors
- Strong project economics with a 57% IRR and $61M NPV(10%) at base case gold price, and significantly higher at current spot prices.
- Projected doubling of gold production to 36 ktpm over a 10-year mine life.
- High average gold process recovery of 87% using a conventional gravity and CIL flowsheet.
- Modular plant design allows for staged development, reducing upfront capital costs and providing operational flexibility.
- Free-milling ore with no significant refractory or preg-robbing behavior identified, indicating straightforward processing.
- Significant gold resources (over 1 million ounces) remain outside the current PEA pit shells, offering future expansion potential.
- The PEA and MRE were prepared in accordance with NI 43-101 guidelines and signed off by Qualified Persons.
Negative factors
- The PEA is an early-stage study and includes Inferred Mineral Resources, which are considered geologically uncertain and cannot support economic evaluations for reserves.
- The current PEA mine plan only incorporates oxide and transitional mineralization, excluding deeper sulfide mineralization which constitutes a significant portion of the total MRE.
- Funding for construction still needs to be secured, although the company is in advanced discussions.
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 27
Classification and evidence
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces an 'updated Preliminary Economic Assessment' which includes an updated Mineral Resource Estimate for the SMSZ Project.
Evidence · text
“results of its newly updated Preliminary Economic Assessment ("PEA")”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The PEA and MRE were prepared in accordance with NI 43-101 standards.
Evidence · text
“prepared in accordance with the definitions and guidelines set out by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), as adopted by reference under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The technical content was prepared and reviewed under the supervision of Mr. Daniel (Daan) van Heerden, a Qualified Person (QP) as defined by NI 43-101, and also reviewed and approved by Ty Magee, a Qualified Person.
Evidence · text
“Mr. Daniel (Daan) van Heerden (B Eng (Min.), MCom (Bus. Admin.), MMC, Pr.Eng. (Reg. No. 20050318), FSAIMM (Reg. No. 37309), AMMSA), a Director with Minxcon who is a Qualified Person (QP) as defined by NI 43-101 and independent of Desert Gold Ventures Inc. The full NI 43-101 Technical Report for the SMSZ Project will be filed and available on SEDAR+ ( www.sedarplus.ca ) within 45 days of this news release. The scientific and technical information contained in this news release has been also reviewed and approved by Ty Magee (M.Sc., P. Geo), a Qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cutoff grade for reporting the Mineral Resource Estimate is explicitly stated as 0.2 g/t Au.
Evidence · text
“The current cutoff grade for reporting the Mineral Resource Estimate (MRE) is 0.2 g/t Au.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The PEA includes Inferred Mineral Resources, which are considered too geologically uncertain to support economic evaluations for reserves.
Evidence · text
“This Preliminary Economic Assessment (PEA) is an early-stage study that includes Inferred Mineral Resources. These resources are considered too geologically uncertain to support economic evaluations that would allow them to be classified as Mineral Reserves.”
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: The average gold process recovery is 87%, which is strong for a CIL processing flowsheet.
Evidence · text
“average metallurgical recovery of 87%”
Bench Scale Onlynegative
Only preliminary bench tests completed — no locked-cycle or pilot work.
Why it applies: The test work conducted to date includes 'Preliminary bottle roll and gravity recovery tests', which are bench-scale tests.
Evidence · text
“Preliminary bottle roll and gravity recovery tests, combined with regional analogues, indicate an average gold recovery of 87%”
Free Millingpositive
Simple, clean ore amenable to standard processing without oxidation.
Why it applies: The ore demonstrates 'free-milling gold mineralization' and 'no significant refractory or preg-robbing behavior have been identified'.
Evidence · text
“all of which demonstrate free-milling gold mineralization suitable for gravity recovery followed by carbon-in-leach (CIL) processing. Importantly, no significant refractory or preg-robbing behavior have been identified”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The processing flowsheet involves 'gravity and CIL processing'.
Evidence · text
“gravity and CIL processing flowsheet”
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: The document is a Preliminary Economic Assessment (PEA) update.
Evidence · text
“updated Preliminary Economic Assessment ("PEA")”
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("gravity")
Extracted facts
Stored fact records: 27. Some facts used in scoring do not have a stored record.
Resource Estimates (26)
measuredSMSZ Gold Project · goldTonnes: 2460000Grade: 0.78Grade Unit: g/tContained Metal: 61600Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:98541d04b32a1c48b827
- Deposit or zone
- Gourbassi West
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 2460000
- Grade
- 0.78
- Grade Unit
- g/t
- Contained Metal
- 61600
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Measured resource at Gourbassi West contributes significantly to the project's high-confidence gold inventory, supporting the economic assessment.
Positive factors
- Measured category indicates high geological confidence.
- Good grade for an open pit gold project.
Evidence · table
“0.78”
Context: 2.46
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
measuredSMSZ Gold Project · goldTonnes: 680000Grade: 2Grade Unit: g/tContained Metal: 43900Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:223172fd31e02ecc4a9e
- Deposit or zone
- Barani East
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 680000
- Grade
- 2
- Grade Unit
- g/t
- Contained Metal
- 43900
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Measured resource at Barani East provides a high-grade component to the project's resource base, enhancing overall project economics.
Positive factors
- Measured category indicates high geological confidence.
- Strong gold grade for an open pit project.
Evidence · table
“2”
Context: 0.68
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
measuredSMSZ Gold Project · goldTonnes: 3140000Grade: 1.05Grade Unit: g/tContained Metal: 105500Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:ae0333be3d952d9a0bb1
- Deposit or zone
- Total Measured
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 3140000
- Grade
- 1.05
- Grade Unit
- g/t
- Contained Metal
- 105500
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: The total Measured resource demonstrates a solid, high-confidence portion of the project's gold inventory, underpinning the PEA.
Positive factors
- Significant Measured resource tonnage and contained gold, providing a high-confidence foundation for the project.
Evidence · table
“1.05”
Context: 3.14
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedSMSZ Gold Project · goldTonnes: 2720000Grade: 1.06Grade Unit: g/tContained Metal: 92600Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:ad3df3dc3b00b4112b39
- Deposit or zone
- Gourbassi East
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 2720000
- Grade
- 1.06
- Grade Unit
- g/t
- Contained Metal
- 92600
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Indicated resource at Gourbassi East adds a substantial, reasonably confident gold inventory to the project, contributing to the PEA.
Positive factors
- Indicated category provides reasonable geological confidence.
- Good grade for an open pit gold project.
Evidence · table
“1.06”
Context: 2.72
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedSMSZ Gold Project · goldTonnes: 4280000Grade: 0.65Grade Unit: g/tContained Metal: 89700Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:86b2d1b4064740e6a02a
- Deposit or zone
- Gourbassi West
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 4280000
- Grade
- 0.65
- Grade Unit
- g/t
- Contained Metal
- 89700
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Indicated resource at Gourbassi West adds substantial tonnage to the project's gold inventory, supporting the PEA with reasonable confidence.
Positive factors
- Indicated category provides reasonable geological confidence.
- Significant tonnage contribution.
Evidence · table
“0.65”
Context: 4.28
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedSMSZ Gold Project · goldTonnes: 980000Grade: 1.56Grade Unit: g/tContained Metal: 49000Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:772d9f20a00693cb3c89
- Deposit or zone
- Barani East
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 980000
- Grade
- 1.56
- Grade Unit
- g/t
- Contained Metal
- 49000
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Indicated resource at Barani East contributes a high-grade component to the project's gold inventory, enhancing the overall economic assessment.
Positive factors
- Indicated category provides reasonable geological confidence.
- Strong gold grade for an open pit project.
Evidence · table
“1.56”
Context: 0.98
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedSMSZ Gold Project · goldTonnes: 7980000Grade: 0.9Grade Unit: g/tContained Metal: 231300Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:00b5f07d41a388b6aa66
- Deposit or zone
- Total Indicated
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 7980000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 231300
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: The total Indicated resource represents a substantial and reasonably confident portion of the project's gold inventory, crucial for the PEA.
Positive factors
- Significant Indicated resource tonnage and contained gold, providing a strong base for economic studies.
Evidence · table
“0.9”
Context: 7.98
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedSMSZ Gold Project · goldTonnes: 11120000Grade: 0.94Grade Unit: g/tContained Metal: 336800Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:b85272a7b0d6e4fd2d31
- Deposit or zone
- Total M&I
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 11120000
- Grade
- 0.94
- Grade Unit
- g/t
- Contained Metal
- 336800
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: The combined M&I resource represents a significant and confident gold inventory, forming the foundation for the project's economic assessment.
Positive factors
- Substantial Measured and Indicated resource base, providing a high level of confidence for the project's economic viability.
Evidence · table
“0.94”
Context: 11.12
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 14330000Grade: 0.97Grade Unit: g/tContained Metal: 447500Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:b08fbd34c15043895084
- Deposit or zone
- Mogoyafara South
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 14330000
- Grade
- 0.97
- Grade Unit
- g/t
- Contained Metal
- 447500
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This large Inferred resource at Mogoyafara South highlights substantial exploration upside, though it requires further work to upgrade confidence.
Positive factors
- Large Inferred resource tonnage, indicating significant exploration potential.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“0.97”
Context: 14.33
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 1470000Grade: 1.42Grade Unit: g/tContained Metal: 67000Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:97da9594025d84eafbcb
- Deposit or zone
- Linnguekoto West
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1470000
- Grade
- 1.42
- Grade Unit
- g/t
- Contained Metal
- 67000
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Inferred resource at Linnguekoto West shows promising grades, suggesting potential for future resource upgrades with additional exploration.
Positive factors
- Good grade for an Inferred resource, indicating potential for higher-grade zones.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“1.42”
Context: 1.47
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 2220000Grade: 1.21Grade Unit: g/tContained Metal: 86000Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:4c49a4cd73438a7bdba6
- Deposit or zone
- Gourbassi East
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 2220000
- Grade
- 1.21
- Grade Unit
- g/t
- Contained Metal
- 86000
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Inferred resource at Gourbassi East adds to the project's exploration potential with promising grades.
Positive factors
- Good grade for an Inferred resource, indicating potential for higher-grade zones.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“1.21”
Context: 2.22
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 3460000Grade: 0.75Grade Unit: g/tContained Metal: 83800Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:5fe7588c8f6aadb72917
- Deposit or zone
- Gourbassi West
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 3460000
- Grade
- 0.75
- Grade Unit
- g/t
- Contained Metal
- 83800
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Inferred resource at Gourbassi West adds substantial tonnage to the project's exploration potential, requiring further definition.
Positive factors
- Significant tonnage for an Inferred resource, contributing to overall project scale.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“0.75”
Context: 3.46
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 2450000Grade: 0.72Grade Unit: g/tContained Metal: 56500Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:346badd3e282b4aeb119
- Deposit or zone
- Gourbassi West North
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 2450000
- Grade
- 0.72
- Grade Unit
- g/t
- Contained Metal
- 56500
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Inferred resource at Gourbassi West North contributes to the project's overall exploration potential, requiring further definition.
Positive factors
- Adds to the overall Inferred resource base, indicating further exploration potential.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“0.72”
Context: 2.45
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 1240000Grade: 1.38Grade Unit: g/tContained Metal: 55100Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:3592253095dc566326aa
- Deposit or zone
- Barani East
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1240000
- Grade
- 1.38
- Grade Unit
- g/t
- Contained Metal
- 55100
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Inferred resource at Barani East shows promising grades, suggesting potential for future resource upgrades with additional exploration.
Positive factors
- Good grade for an Inferred resource, indicating potential for higher-grade zones.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“1.38”
Context: 1.24
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 1070000Grade: 0.88Grade Unit: g/tContained Metal: 30200Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:553dfb1f9db5a2a2e208
- Deposit or zone
- Barani Gap
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1070000
- Grade
- 0.88
- Grade Unit
- g/t
- Contained Metal
- 30200
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Inferred resource at Barani Gap contributes to the project's overall exploration potential, requiring further definition.
Positive factors
- Adds to the overall Inferred resource base, indicating further exploration potential.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“0.88”
Context: 1.07
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 460000Grade: 2.4Grade Unit: g/tContained Metal: 35200Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:2d67af800a9ffe4f24a4
- Deposit or zone
- Kenieglou
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 460000
- Grade
- 2.4
- Grade Unit
- g/t
- Contained Metal
- 35200
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This high-grade Inferred resource at Keniegoulou highlights significant potential for future high-grade additions to the resource base.
Positive factors
- Very high grade for an Inferred resource, indicating strong potential for high-grade zones.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“2.4”
Context: 0.46
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 470000Grade: 1.23Grade Unit: g/tContained Metal: 18600Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:f7ae99152a0d9e7859c2
- Deposit or zone
- KE
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 470000
- Grade
- 1.23
- Grade Unit
- g/t
- Contained Metal
- 18600
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Inferred resource at KE contributes to the project's overall exploration potential with promising grades.
Positive factors
- Adds to the overall Inferred resource base with a good grade.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“1.23”
Context: 0.47
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 27160000Grade: 1.01Grade Unit: g/tContained Metal: 879900Contained Unit: ozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:595ae692cb5f5de85d07
- Deposit or zone
- Total Inferred
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 27160000
- Grade
- 1.01
- Grade Unit
- g/t
- Contained Metal
- 879900
- Contained Unit
- oz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: The total Inferred resource represents a significant exploration target, providing substantial upside potential for the project's future growth.
Positive factors
- Very large Inferred resource tonnage and contained gold, indicating substantial long-term exploration potential.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“1.01”
Context: 27.16
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
measuredSMSZ Gold Project · goldTonnes: 148000Grade: 2.42Grade Unit: g/tContained Metal: 11.5Contained Unit: kozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:daa9c91de243eb2606f6
- Deposit or zone
- Barani
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 148000
- Grade
- 2.42
- Grade Unit
- g/t
- Contained Metal
- 11.5
- Contained Unit
- koz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Measured resource within the Barani pit is a high-confidence, high-grade component directly contributing to the PEA mine plan.
Positive factors
- High-grade Measured resource within the PEA pit, providing high confidence for early production.
Evidence · table
“2.42”
Context: 148
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedSMSZ Gold Project · goldTonnes: 43000Grade: 1.91Grade Unit: g/tContained Metal: 2.7Contained Unit: kozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:49d48d12ad2915ca8f2b
- Deposit or zone
- Barani
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 43000
- Grade
- 1.91
- Grade Unit
- g/t
- Contained Metal
- 2.7
- Contained Unit
- koz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Indicated resource within the Barani pit provides a high-grade, reasonably confident component for the PEA mine plan.
Positive factors
- High-grade Indicated resource within the PEA pit, adding confidence to the mine plan.
Evidence · table
“1.91”
Context: 43
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 339000Grade: 1.58Grade Unit: g/tContained Metal: 17.3Contained Unit: kozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:3986e91e7a69798f4e3f
- Deposit or zone
- Barani
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 339000
- Grade
- 1.58
- Grade Unit
- g/t
- Contained Metal
- 17.3
- Contained Unit
- koz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Inferred resource within the Barani pit contributes to the PEA mine plan, but its lower confidence requires further definition.
Positive factors
- Good grade for an Inferred resource within the PEA pit, indicating potential for future upgrades.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“1.58”
Context: 339
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
measuredSMSZ Gold Project · goldTonnes: 1289000Grade: 0.92Grade Unit: g/tContained Metal: 38.1Contained Unit: kozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:f4494024e08643d970d2
- Deposit or zone
- Gourbassi West &West North
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 1289000
- Grade
- 0.92
- Grade Unit
- g/t
- Contained Metal
- 38.1
- Contained Unit
- koz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Measured resource within the Gourbassi West & West North pit is a high-confidence component directly contributing to the PEA mine plan.
Positive factors
- Measured resource within the PEA pit, providing high confidence for the mine plan.
Evidence · table
“0.92”
Context: 1,289
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedSMSZ Gold Project · goldTonnes: 377000Grade: 0.86Grade Unit: g/tContained Metal: 10.4Contained Unit: kozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:366a3b2bde27164202ea
- Deposit or zone
- Gourbassi West &West North
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 377000
- Grade
- 0.86
- Grade Unit
- g/t
- Contained Metal
- 10.4
- Contained Unit
- koz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Indicated resource within the Gourbassi West & West North pit provides a reasonably confident component for the PEA mine plan.
Positive factors
- Indicated resource within the PEA pit, adding confidence to the mine plan.
Evidence · table
“0.86”
Context: 377
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 1452000Grade: 0.93Grade Unit: g/tContained Metal: 43.2Contained Unit: kozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:b8a6cfaa7634dc99ab8e
- Deposit or zone
- Gourbassi West &West North
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1452000
- Grade
- 0.93
- Grade Unit
- g/t
- Contained Metal
- 43.2
- Contained Unit
- koz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Inferred resource within the Gourbassi West & West North pit contributes to the PEA mine plan, but its lower confidence requires further definition.
Positive factors
- Adds to the overall Inferred resource within the PEA pit, indicating further potential.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“0.93”
Context: 1,452
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedSMSZ Gold Project · goldTonnes: 291000Grade: 1.13Grade Unit: g/tContained Metal: 10.6Contained Unit: kozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:606fae5c72f1e6953b72
- Deposit or zone
- Gourbassi East
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 291000
- Grade
- 1.13
- Grade Unit
- g/t
- Contained Metal
- 10.6
- Contained Unit
- koz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Indicated resource within the Gourbassi East pit provides a reasonably confident component for the PEA mine plan.
Positive factors
- Indicated resource within the PEA pit, adding confidence to the mine plan.
Evidence · table
“1.13”
Context: 291
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredSMSZ Gold Project · goldTonnes: 223000Grade: 1.11Grade Unit: g/tContained Metal: 8Contained Unit: kozView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Daniel (Daan) van Heerden, Ty Magee
- Resource group id
- resource:ff00b55014c5b7b0d18c
- Deposit or zone
- Gourbassi East
- Mining method
- combined
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 223000
- Grade
- 1.11
- Grade Unit
- g/t
- Contained Metal
- 8
- Contained Unit
- koz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-11-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: This Inferred resource within the Gourbassi East pit contributes to the PEA mine plan, but its lower confidence requires further definition.
Positive factors
- Adds to the overall Inferred resource within the PEA pit, indicating further potential.
Negative factors
- Inferred category has a low level of confidence and cannot be used for economic studies without further drilling.
Evidence · table
“1.11”
Context: 223
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Metallurgical Results (1)
bottle rollSMSZ Gold Project · goldRecovery: 87 %Head Grade: 0.96Head Grade Unit: g/tView all detailsHide details
Identity
- Project
- SMSZ Gold Project
- Commodity
- gold
- Region
- mali
- Reported Region
- Mali
- Ticker
- DAU
Test Work
- Program Status
- preliminary
- Test Type
- bottle roll
- Processing Route
- gravity, CIL
Recovery
- Recovery
- 87 %
- Recovery Basis
- actual_test
- Head Grade
- 0.96
- Head Grade Unit
- g/t
Lab
- Consultant
- Minxcon
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-11-25T00:00:00.000Z
Reasoning: The metallurgical test work indicates high gold recoveries from free-milling ore using a conventional CIL process, which is a strong positive for project economics, despite the preliminary nature of the tests.
Positive factors
- High gold recovery of 87% for a CIL process, indicating efficient extraction.
- Free-milling gold mineralization with no significant refractory or preg-robbing behavior, simplifying processing.
- Low abrasiveness and soft saprolitic textures reduce grinding costs.
Negative factors
- Test work is preliminary (bottle roll and gravity tests), suggesting further, more advanced test work may be needed to confirm recoveries at scale.
Evidence · text
“average metallurgical recovery of 87%”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the mill_cil signal
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.