MINING REFINING

Gold miner Perseus increases gold reserves at Yaouré; eyes mine life extension

Wed Aug 23 2023

Africa-focused gold miner Perseus Mining (TSX: PRU) yesterday reported an increase to underground ore reserves beneath the existing CMA open pit at its Yaouré gold mine in Côte d’Ivoire of 2.7 Mt at 3.46 g/t for 300 koz.

The total CMA underground ore reserve is now estimated by Perseus to be 4.9 Mt at 3.51 g/t for 559 koz.

The company said the CMA orebody remains open down plunge and down dip below the current indicated mineral resource, adding that further extensions to the CMA underground ore reserves are expected with future drilling during FY24.

As well as growth to ore reserves for the CMA underground, the company’s drill campaign of 22,084 metres during FY23 at the adjacent Yaouré open pit has resulted in 6.9 Mt at 1.82 g/t for 403 koz of additional Yaouré open pit ore reserves (separate to the CMA open pit).

Perseus said that Yaouré open pit ore reserves now total 11.8 Mt at 1.49 g/t for 565 koz. The increase to Yaouré open pit ore reserves is based upon conversion of inferred mineral resources immediately beneath the existing Yaouré open pit to indicated mineral resources.

The company also noted that the Yaouré gold mine ore reserve increases at the CMA underground and the Yaouré open pit will extend the Yaouré life-of-mine, and that all ore reserve additions are inside the mine fence and adjacent to the Yaouré processing facility.

Perseus operates three gold mines in West Africa (Edikan in Ghana, Sissingué and Yaouré in Ivory Coast), with its third mine, Yaouré, pouring its first gold in December 2020.

The company has recently acquired Orca Gold, and now owns 70% of the Block 14 development project in Sudan, and a 31.4% stake in the Kone gold project in Ivory Coast.

Source: https://www.kitco.com