Perseus Mining Announces Underground and Open Pit Reserve Growth at Yaoure
August 22 2023 - 6:45PM
PERSEUS MINING
ANNOUNCES OPEN PIT AND
UNDERGROUND ORE RESERVE GROWTH
AT YAOURÉ
Perth, Western Australia/August 23,
2023/Perseus Mining Limited (ASX/TSX: PRU) is pleased to
announce an increase to CMA 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 CMA orebody
remains open down plunge and down dip below the current Indicated
Mineral Resource, and further extensions to the CMA underground Ore
Reserves are expected with future drilling during FY24.
Feasibility-level studies on the CMA deposit at Yaouré
(approximately four hundred metres down dip from the base of the
open pit) have confirmed the economic and technical viability of
underground mining. Resource definition drilling during FY23 has
added Mineral Resources and Ore Reserves down-dip of the CMA
underground Pre-Feasibility Study (PFS) Ore Reserves and readers
are referred to ASX release “Perseus Updates Mineral Resource and
Ore Reserve Estimates” dated 28 August 2022 for additional details
on the CMA underground PFS.
More widely spaced drilling below the CMA underground Ore
Reserve has shown that mineralisation extends deeper allowing an
extension to Inferred Mineral Resources at depth. Extension of
Inferred Mineral Resources and continued drilling success down-dip,
provides strong encouragement for further expansion of the CMA
underground.
As well as growth to Ore Reserves for the CMA underground, a
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). 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.
CMA underground and Yaouré open pit Ore Reserve increases are in
addition to the existing Ore Reserves, adding additional value and
mine life to the Yaouré Gold Mine. The CMA underground Feasibility
Study (FS) and the Yaouré open pit expansion will be released in
Perseus’ upcoming Yaouré Gold Mine Life of Mine (LOM) plan.
HIGHLIGHTS
- Indicated Mineral
Resources at CMA underground have increased by 439 koz to
7.3 Mt at 4.17 g/t for 976 koz of contained gold,
and Inferred Mineral Resources are estimated at 4.4 Mt at
3.4 g/t gold containing 485 koz of gold.
- Underground Probable
Ore Reserves estimated to date total 4.9 Mt of ore grading
3.51 g/t gold and containing 559 koz of gold, which is an
increase for FY23 of 2.7 Mt at 3.46 g/t gold containing
300 koz of gold.
- Yaouré open pit
Indicated Mineral Resources have increased by 300 koz to
19.2 Mt at 1.27 g/t for 784 koz of contained gold,
and Inferred Mineral Resources are estimated at 3.0 Mt at
1.3 g/t gold containing 124 koz of gold.
- Yaouré open pit
Probable Ore Reserves have increased in FY23 by 6.9 Mt at
1.82 g/t for 403 koz of gold, for a total of 11.8 Mt
at 1.49 g/t gold containing 565 koz of gold.
- Yaouré Gold Mine Ore
Reserve increases at the CMA underground and the Yaouré open pit
will extend the Yaouré Life of Mine (LOM) and all Ore Reserve
additions are inside the mine fence and adjacent to the Yaouré
processing facility. Perseus will prepare an updated LOM Plan for
the Yaouré Gold Mine during the September 2023 Quarter.
Perseus’s Managing Director and CEO Jeff Quartermaine
said:
“Since pouring first gold at Yaouré, this mine has repeatedly
exceeded our expectations on almost every measure and made a very
significant contribution to the success of our company. The
discovery of extensions to the CMA orebody at depth and
confirmation that these Mineral Resources can be economically
developed is further evidence that not only is the Yaouré Gold Mine
an outstandingly good operation, but that it will also continue to
contribute benefits to all of our stakeholders, well beyond our
initial estimates.
The results that have been announced today are associated with
the first 400 metres down dip from the base of the CMA open pit.
Three dimensional seismic surveys have confirmed that the CMA and
associated structures continue at depth for a much greater distance
underground and it will require further drilling to confirm that
these structures are mineralised with economically mineable grades
at depth. However, based on what we have seen to date, we are
optimistic that once established, the underground operation at
Yaouré will continue for many years into the future.
The Yaouré underground mine is Perseus’s first foray into
underground mining, with all previous operations having been open
cut operations. While this represents a new style of mining and a
new challenge for us as a company, it is certainly not new to many
of the technical staff that are currently employed by Perseus who
are very keen to demonstrate their skills in an underground mining
setting. This depth of talent within our existing ranks gives us
every confidence that the Yaouré Underground operation, when it
commences, will be every bit as successful as the open pit
operation that has preceded it”.
ASX/TSX CODE: PRUREGISTERED
OFFICE:Level 2437 Roberts RoadSubiaco WA 6008Telephone:
+61 8 6144 1700Email:
IR@perseusmining.comABN: 27 106
808 986www.perseusmining.com |
CONTACTS:Nathan RyanMedia
Relations+61 4 20 582
887nathan.ryan@nwrcommunications.com.auJeff
QuartermaineManaging Director &
CEOjeff.quartermaine@perseusmining.com |
- 230823_TSX Open Pit and Underground Ore Reserve growth at
Yaouré
Perseus Mining (TSX:PRU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Perseus Mining (TSX:PRU)
Historical Stock Chart
From Jul 2023 to Jul 2024