Dugbe

Dugbe is a feasibility stage, long-life, large scale multi-pit gold project in Sinoe Province, Liberia. Liberia, with its Birimian-aged greenstone belts known to host large orogenic lode gold deposits, is considered highly prospective for gold, and is a geologically similar yet underexplored jurisdiction compared to the neighbouring gold producing countries Côte d’Ivoire, Mali, Burkino Faso and Ghana. The 2,078km2 project area is situated in an established mining district – with Bonikro, Yaoure, Ity and Abujar gold deposits all present to the North-East. The royalty covers a circular area with a 20km radius from a defined point at the southern edge of current Dugbe F pit design. The royalty AOI covers 1,257km2, with approximately 850km2 overlapping with the current project area.

The 2022 Dugbe Feasibility Study proposed a 5 Mtpa mill throughput with a 14-year mine life, producing ~162,000 ounces of gold per annum, averaging ~200,000 ounces of gold per annum over the first ten years of full production. All project infrastructure to be constructed is included in the study, as well as upgrades at the nearby port facility at Greenville, and the 75km access route. The royalty area also contains a number of exciting exploration prospects, including the very promising Sackor and Bukon Jedeh areas.

* The NSR royalty increases from 2.0% to 2.5% in any quarter where production is greater than 50koz of gold and the gold price exceeds US$1,800/oz.

Sources

• Dugbe Gold Project NI 43-101 Technical Report – Feasibility Study, effective June 13, 2022, and dated July 28, 2022
• For more information on Dugbe, please visit https://www.pasofinogold.com/