Yaramoko Mine, Burkina Faso

Our highest grade gold mine

Overview

Our Yaramoko Mine is in the Houndé greenstone belt region in the Province of Balé in southwestern Burkina Faso. In 2024, Yaramoko produced 116,206 ounces of gold.

The Yaramoko Mine consists of two underground gold mines: the 55 Zone and Bagassi South. The deposits are greenstone-hosted high-grade orogenic gold deposits. The Bagassi South Zone deposit is located 1.8 kilometers south of 55 Zone and the surface definition of the veins can be traced over a strike length of 800 meters and dips to the northeast. Gold typically occurs as coarse free grains in quartz and is associated with pyrite.

Based on reserves reported as of December 31, 2024 the operation has a mine life of one and a half years.

We recognize the role that the Yaramoko Mine plays to support sustainable development in our areas of influence around the mine. In 2024, we employed 920 direct employees and contractors.

Yaramoko Mine Video

Commodities

Gold

Ownership

90%

(State of Burkina Faso holds 10% interest)

Mill throughput

454,969

tonnes milled in 2024

Claim block area

23,000

hectares

Deposit type

Orogenic gold

Mining method

Longhole stoping with cemented rock fill

Operating highlights	2024¹	2025E²
Tonnes milled (000)	455	481
Gold production (koz)	116.2	107 – 121
AISC³ (US$/oz Au)	1,359	1,165 – 1,320

Notes

Refer to Fortuna news release dated March 5, 2025, “Fortuna Reports Results for the Fourth Quarter and Full Year 2024”
Refer to Fortuna news release dated January 21, 2025, “Fortuna reports record production of 455,958 Au Eq ounces for 2024 and provides 2025 outlook“
Cash Cost and all-in sustaining cost (AISC) are non-IFRS financial measures which are not standardized financial measures under the financial reporting framework used to prepare the financial statements of the Company and might not be comparable to similar financial measures disclosed by other issuers. Refer to the note under “Non-IFRS Financial Measures” on this website.

Location

The Yaramoko Mine is situated in the Houndé greenstone belt region in the Province of Balé in southwestern Burkina Faso. The property is located approximately 200 kilometers southwest from the capital city of Ouagadougou (Latitude: 11° 45’ 25” N, Longitude: 3° 16’ 58” W).

Our operations add value to Burkina Faso’s formal economy by providing contracts and stable jobs for local people and by helping to expand the revenue base of our host government through income taxation, national social security system contributions and the royalties we pay every time we ship gold.

Learn more Learn more about our relationship with the Yaramoko community

Geology and mineralization

The north-northeast-trending Boni shear zone divides the Yaramoko concession between the predominantly Houndé volcanic and volcaniclastic rock to the west and the Diébougou granitoid domain composed predominantly of granitic rock with minor volcanic rock to the east. The main lithological units are mafic volcanic rocks, felsic intrusions, and late dolerite dikes.

This region is considered prospective for orogenic gold deposits, which typically exhibit a strong relationship with regional arrays of major shear zones. The largest granitic intrusion found on the Yaramoko concession is host to both the 55 Zone and Bagassi South Zone gold deposits. Both deposits are set on the eastern margin of the intrusive in the footwall of the Yaramoko shear along conjugated dextral faults located in extensional position to the regional shear zone. The bulk of the gold mineralization occurs in dilatational segments of the shear zones where quartz veins are thicker and exhibit greater continuity.

Mineral reserves

0.6 million tonnes

averaging 7.5 g/t Au containing 0.15 Moz Au

Refer to Mineral Reserves and Resources table below for full disclosure

Brownfields exploration

The Brownfields exploration program budget for 2025 at Yaramoko is $0.2 million. The Company will continue to pursue opportunities for extensions of mineralization through underground development in the deeper levels of the 55 Zone and the QVP deposits.

Technical reports

Download the latest Yaramoko Technical Report, effective date: December 31, 2022 (21 MB)

Mineral reserves and resources

				Contained Metal
Property	Classification	Tonnes (000)	Au (g/t)	Au (koz)
Mineral Reserves – Proven and Probable
55 Zone Underground
	Proven
	Probable	308	11.69	116
	Proven + Probable	308	11.69	116
109 Zone Open Pit
	Proven
	Probable	220	1.78	13
	Proven + Probable	220	1.78	13
Bagassi South QV Prime Underground
	Proven
	Probable	64	8.45	17
	Proven + Probable	64	8.45	17
Bagassi South QV1 Underground
	Proven
	Probable	6	6.70	1
	Proven + Probable	6	6.70	1
Stockpiles
	Proven	30	4.23	4
	Probable
	Proven + Probable	30	1.23	4
Combined
	Proven	30	4.23	4
	Probable	597	7.65	147
	Proven + Probable	627	7.49	151
Mineral Resources – Measured and Indicated
Z55 Underground
	Measured	17	12.48	7
	Indicated	110	5.45	19
	Measured + Indicated	126	6.38	26
Z55 Open Pit
	Measured
	Indicated	16	5.34	3
	Measured + Indicated	16	5.34	3
Z109 Open Pit
	Measured
	Indicated	69	1.42	3
	Measured + Indicated	69	1.42	3
Bagassi South QV Prime Underground
	Measured
	Indicated	38	6.74	8
	Measured + Indicated	38	6.74	8
Bagassi South QV1 Underground
	Measured
	Indicated	12	4.64	2
	Measured + Indicated	12	4.64	2
Combined
	Measured	17	12.48	7
	Indicated	245	4.47	35
	Measured + Indicated	261	4.98	42
Mineral Resources – Inferred
Z55 Underground	Inferred	77	5.69	14
Z55 Open Pit	Inferred	5	7.68	1
Z109 Open Pit	Inferred	15	1.23	1
Bagassi South QV Prime Underground	Inferred	18	11.00	6
Bagassi South Underground	Inferred	25	4.88	4
Combined	Inferred	141	5.83	26

Notes:

Mineral Reserves and Mineral Resources are as defined by the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves
Mineral Resources are exclusive of Mineral Reserves
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
Factors that could materially affect the reported Mineral Resources or Mineral Reserves include; changes in metal price and exchange rate assumptions; changes in local interpretations of mineralization; changes to assumed metallurgical recoveries, mining dilution and recovery; and assumptions as to the continued ability to access the site, retain mineral and surface rights titles, maintain environmental and other regulatory permits, and maintain the social license to operate
Mineral Resources and Reserves for the Yaramoko Mine are reported as of December 31, 2024
Mineral Reserves for Yaramoko are reported at a cut-off grade of 0.56 g/t Au for the 109 Zone open pit, 4.26 g/t Au for 55 Zone underground, 3.10 g/t Au for Bagassi South QVP and QV underground based on an assumed gold price of US$2,040/oz, metallurgical recovery rates of 96.9%, underground mining costs of US$177/t, surface mining costs of US$4.07/t, processing cost of US$32/t and G&A costs of US$37/t. Underground average mining recovery is estimated at 90% for Bagassi South QV and QVP, 94% for 55 Zone SLS stopes, and 84% for sill drifts. A mining dilution of 0.2m and 0.2m dilution skin has been applied for shrinkage mining, 0.3m and 0.4m for SLS stopes and 0.3m and 0.65m for sill drifts, respectively. Surface mining recovery is estimated to average 100% and mining dilution 0%, having been accounted for during block regularization to 5m x 5m x 5m size within an optimized pit shell, and only Proven and Probable categories reported within the final pit designs. Yaramoko Mineral Resources are reported at a gold grade cut-off grade of 1.4 g/t Au for the 55 Zone open pit, 0.6 g/t Au for the 109 Zone open pit, and 2.7 g/t Au and 2.5 g/t Au for underground 55 Zone and Bagassi South respectively, based on an assumed gold price of US$2,160/oz and the same costs, metallurgical recovery and constrained within an optimized pit shell. The Yaramoko Mine is subject to a 10% carried interest held by the government of Burkina Faso.
Eric Chapman is the Qualified Person responsible for Mineral Resources and Raul Espinoza is the Qualified Person responsible for Mineral Reserves both being an employee of Fortuna Mining Corp.
Totals may not add due to rounding procedures