Perseus Mining (ASX: PRU) has announced further ‘strong’ gold mineralisation results following exploration drilling at its Yaouré Gold Mine in Cote d’Ivoire.
The results, generated from an ongoing RC infill and down-dip extensional drilling campaign, highlight the potential for further mineral resources beneath the project’s CMA open pit after returning grades up to 12.64g/t Au.
Key results include:
- Hole YRC1957D: 20.5m @ 5.84 g/t Au from 243.8m, including 19.4m @ 6.12 g/t Au from 243.8m
- Hole YRC1960D: 12m @ 2.07 g/t Au from 257m, including 3m @ 6.65 g/t Au from 265m
- Hole YRC1961D: 13.4m @ 2.98 g/t Au from 264.6m, including 12.4m @ 3.18 g/t Au from 264.6m
- Hole YRC1968D: 12.2m @ 4.9 g/t Au from 291.8m, including 10.4m @ 5.61 g/t Au from 291.8m
- Hole YRC1970D: 10m @ 4.29 g/t Au from 275.8m, including 7.70m @ 5.47 g/t Au from 278.1m
- Hole YRC1974D: 14.2m @ 4.24 g/t Au from 218.8m
- Hole YRC1975D: 9.5m @ 5.34 g/t Au from 223.5m
- Hole YRC1982D: 6m @ 5.32 g/t Au from 301m
- Hole YRC1988D: 10m @ 12.03 g/t Au from 346m
- Hole YRC2006D: 10m @ 7.41 g/t Au from 228m, including 5.7m @ 12.64 g/t Au from 231.1m
- Hole YRC2018D: 9m @ 4.11 g/t Au from 321m, including 7m @ 5.24 g/t Au from 321m
- Hole YRC2019D: 15m @ 3.49 g/t Au from 268m including 7m @ 4.91 g/t Au from 268m and 5m @ 3.43 g/t Au from 278m
- Hole YRC2020D: 6.5m @ 5.15 g/t Au from 224m
- Hole YRC2029D: 26m @ 2.46 g/t Au from 235.3m, including 5.6m @ 6.17 g/t Au from 235.2m
- Hole YRC2039D: 8.5m @ 8.91 g/t Au from 222.7m
- Hole YRC2042D: 12m @ 2.01 g/t Au from 355m, including 3m @ 5.26 g/t Au from 355m
Perseus also reports that further ‘high-grade’ results have been returned from the CMA hanging wall:
- Hole YRC1987D: 13m @ 7.78g/t Au from 145m
- Hole YRC1989D: 8m @ 11.42g/t Au from 60m
- Hole YRC2047D: 16m @ 3.39g/t Au from 56m, incl. 4m @ 10.75g/t Au from 68m
- Hole YRC2074D: 5m @ 5.46g/t Au from 99m
Speaking on the update, Perseus Mining Managing Director and CEO Jeff Quartermaine said: “Having reached our goal of producing gold at a rate of 500,000oz per year across our three gold mines, we are now working to maintain that level of production over the next decade and beyond.
These latest drill results from Yaoure give us further confidence in the high-grade gold contained beneath the CMA open pit and we are working towards a Mineral Resource upgrade, that will enable us to complete a Pre-Feasibility study and maiden Ore Reserve for the CMA Underground Project during the current quarter.
“These latest drill results from Yaoure give us further confidence in the high-grade gold contained beneath the CMA open pit”
Beyond this, we look forward to progressing Perseus’s first underground mining development which is likely to be the first large scale underground mine operating in Cote d’Ivoire.”
The company believes that these results will enable the completion of a pre-feasibility study and maiden ore reserve, as well as provide further support for a mineral resource upgrade for the CMA Underground prospect.
Additional drilling tasked with investigating an extra 300m down-dip from the current resource has returned positive gold mineralisation results, with Perseus reporting that future encouraging results would lead to an initial Inferred Mineral Resource Estimate.
Drill Section of the CMA underground resource including planned infill drilling (blue)The Yaoure Gold Mine is located in central Cote d’Ivoire with Perseus owning 90% of all tenements. The Project hosts several ‘highly encouraging’ exploration targets and is expected to produce more than 200,000oz of gold per year over its first five years of operation, at an average AISC of ~USD$745.
Perseus reports that it will move forward with the completion of infill and property-wide geochemical auger drilling programs, with mining and metallurgical studies currently underway with a targeted completion for the end of Q2.
Images: Perseus Mining Limited
