Cassidy Gold has received an exploitation permit covering all gold resources identified to date at its Kouroussa gold project in Guinea, West Africa.
The exploitation permit covers a total area of 16km² within the firm's 949km² exploration permits, which are subject to renewal provisions described in the Guinean Mines Code.
A scoping study completed by Coffey Mining in 2009 has concluded that Kouroussa could produce an average of 79,000oz of gold annually at a cash operating cost of $484 per oz over a 6-year mine life.
The study has also estimated initial capital costs of $97m for the Kouroussa Project, with a further $11m estimated for sustaining capital.
Cassidy Gold is currently in the process of updating this Scoping Study.