Teranga Receives Environmental Approval for Gora Project

Teranga Gold Corp. (TSX:TGZ) announced it has received environmental approval to go ahead with the development of its high-grade Gora project in Senegal, West Africa.

As quoted in the press release:

 Gora, the Company’s first satellite deposit as well as its first discovery on its large regional land package, is situated 25 kilometres from the existing mill. Teranga’s guidance for 2015 calls for production of between 200,000 and 230,000 ounces of gold. The Gora development schedule is aggressive but management believes it is achievable. Production at Gora is expected to be between 50,000 and 75,000 ounces per year with average feed grades ranging from 4 to 6 grams per tonne over its estimated four-year life.

Richard Young. president and CEO of Teranga, commented:

We are delighted to report that it is full steam ahead on the Gora project.Work has begun on road construction from Sabodala to Gora and we expect to be processing ore from Gora through our mill by the fourth quarter. Gora is the first satellite deposit to be discovered on our regional land package, which is a key focus area of our three-phase growth plan in Senegal.

Click here to read the full Teranga Gold Corp. (TSX:TGZ) press release.