Nkosuo Project near Edikan

Perseus study finds Nkosuo Project adds ‘significantly’ to Edikan Gold mine life, Ghana

Perseus Mining (ASX/TSX:PRU) has completed a feasibility study on the Nkosuo Project, located about 7km north-northwest of its Edikan Gold Mine in Ghana, adding substantial mineral resources and ore reserves.

The feasibility study has resulted in the estimation of an ore reserve of 332,000 ounces (contained) producing 272,000 ounces (recovered) over three years of mining.

The company reports the all-in site costs (AISCs) are expected to be in the range of US$870-US$890 per ounce for Nkosuo.

The Nkosuo Project has an Indicated Mineral Resources of 14.5 million tonnes at 0.91 grams per tonne for 422,000 ounces of contained gold, and Inferred Mineral Resources are estimated at 0.95Mt grading 0.90g/t gold containing 27,000oz of gold, as of 30 June 2022.

Probable Ore Reserves total 10Mt of ore grading 1.04g/t gold and containing 332,000 ounces of gold.

Commenting on the results of the study, Perseus Managing Director Jeff Quartermaine said: “The addition of Mineral Resources and Ore Reserves from the Nkosuo Project adds significantly to the mine life at Edikan Gold Mine, ensuring operations can continue while Perseus conducts further exploration on the recently acquired Agyakusu Exploration Permit and two other adjoining Exploration Permits that are under option to Perseus.

we are optimistic of discovering further deposits of a similar scale to Nkosuo

We believe that the discovery of additional Ore Reserves in trucking distance of existing infrastructure is the most cost effective means available to Perseus of creating value for shareholders.

With this objective, further exploration on the nearby tenements will be well funded by Perseus and we are optimistic of discovering further deposits of a similar scale to Nkosuo that will further add to the mine life of the Edikan operation.”

An application will now be lodged by Perseus with the Ghanaian Minerals Commission (Mincom) acting on behalf of the Ministry for Lands and Natural Resources. In parallel with the Mincom submission, an application will be lodged with the Environmental Protection Agency (EPA) of Ghana which paves the way for community baseline studies and public hearings.

These activities culminate in generation of an Environmental Impact Assessment.

Nkosuo is located in Ghana, West Africa, some 40km southwest of the regional town of Obuasi, 200km west-northwest of the capital Accra and 7km to the north northwest of Perseus’s Edikan Gold Mine near the town of Ayanfuri.

Nkosuo will be mined in a single open pit, with a waste dump located to the west of the pit. Ore from the pit will be trucked on a dedicated haul road to the Edikan processing plant for co-processing with ores from existing Edikan open pits and stockpiles.

Perseus reports that the cut-off grade of 0.3g/t gold for the stated open pit Mineral Resource estimates reflects economic parameters deriving from current and anticipated mining practices at Nkosuo and a gold price of US$1,800/oz.

Images: Perseus Mining Limited
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Written By Adam Orlando
Mining.com.au Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.