Perseus Mining Ltd (ASX:PRU, TSX:PRU, OTC:PMNXF) has continued its West African exploration success with high-grade results recorded from the Yaouré Gold Mine in Côte d’Ivoire.
Recent results from ongoing infill and down-dip extension drilling on the CMA structure at Yaouré confirm strong potential for further mineral resources beneath the CMA open pit (CMA Underground prospect).
Perseus will use the results to upgrade the CMA Underground inferred resource estimate to indicated status, enabling a pre-feasibility study (PFS) for an underground mining operation to be completed by late June 2022, including an initial ore reserve estimate.
Maintaining level of production
Perseus managing director and CEO Jeff Quartermaine said: “With our three gold mines, Yaouré, Edikan and Sissingué, now producing gold at an annualised rate of over 500,000 ounces per year, Perseus’s focus has turned to maintaining this level of production out to the end of the current decade and beyond.
“Our latest infill and step-out drilling results from below Yaouré’s CMA open pit confirm previous drill results that indicated that material quantities of additional indicated mineral resources, capable of being economically mined using underground mining methods, may be delineated.
“We are aiming to complete a preliminary feasibility study of this mining operation by the end of the June quarter of 2022, however, timing of the completion of this work will depend on the ultimate footprint size of the orebody as determined by the current drilling program.”
Results
Infill drilling of the inferred resource continues to confirm gold mineralisation consistent with previous results from this area, with recent drill intercepts including:
- 10 metres at 6.61 g/t gold from 236 metres;
- 8.10 metres at 7.27 g/t from 328.10 metres;
- 10 metres at 3.03 g/t from 337, including 3 metres at 8.76 g/t from 337 metres;
- 13 metres at 3.77 g/t from 294 metres;
- 9.8 metres at 4.18 g/t from 245 metres;
- 6 metres at 7.57 g/t from 304 metres;
- 8 metres at 4.40 g/t from 227 metres;
- 6.3 metres at 4.52 g/t from 194.7 and 5.1 metres at 6.12 g/t from 305.9 metres;
- 10.60 metres at 4.36 g/t from 271.4 metres;
- 4 metres at 4.93 g/t from 214.4 metres, 5.2 metres at 2.69 g/t from 221.7 metres, 4 metres at 4.21 g/t from 235 metres & 13.2 metres at 1.31 g/t from 242 metres;
- 16.2 metres at 5.58 g/t from 270 metres; and
- 15 metres at 3.49 g/t from 268 metres including 7 metres at 4.91 g/t from 268 metres.
Results returned high-grade intersections in the CMA hanging-wall, reflecting either CMA splays or oblique S-structures:
- 1.67 metres at 62.29 g/t gold from 314.80 metres;
- 4 metres at 17.09 g/t from 64 metres;
- 8 metres at 11.42 g/t from 60 metres; and
- 16 metres at 3.39 g/t from 56 metres, including 4 metres at 10.75 g/t from 68 metres.
Step-out drilling on the down-dip extensions of the CMA structure also returned encouraging results, including:
- 5 metres at 3.93 g/t gold from 605 metres and 4 metres at 3.98 g/t from 628 metres; and
- 11.10 metres at 3.39 g/t from 450.40 metres, including 5 metres at 7.16 g/t from 452 metres.
Next steps
Perseus’s ongoing exploration and study programs at Yaouré will focus on:
➢ Continuation of drilling to convert the inferred resource at CMA to an ore reserve to be potentially exploited by underground mining methods and drilling down dip of the inferred resource to identify the potential for further resource extensions.
It is completing drilling to convert the inferred CMA resource to an ore reserve as the first part of PFS. Geotechnical, hydrological, mining and metallurgical studies have commenced as drilling and assaying results become available.
Target completion for the PFS remains the end of the June quarter 2022, with timing dependent on the ultimate footprint size of the orebody.
➢ Continuation of drill testing of targets generated from the 3D seismic survey, with an initial focus on near-surface targets.
➢ Aircore drilling and augering at early-stage regional prospects such as Degbezere NE.