Perseus Mining Ltd (ASX:PRU, TSX:PRU, OTC:PMNXF) has intersected further high-grade gold mineralisation from its exploration drilling program at the CMA underground prospect within the Yaouré Gold Mine in Côte d’Ivoire.
The company’s ongoing infill and down-dip extension drilling on the CMA structure at Yaouré continues to confirm strong potential for further mineral resources beneath the CMA open pit, with results including:
- 20.5 metres at 5.84 g/t gold from 243.8 metres, including 19.4 metres at 6.12 g/t gold from 243.8 metres
- 12 metres at 2.07 g/t from 257 metres, including 3 metres at 6.65 g/t from 265 metres; and
- 13.4 metres at 2.98 g/t from 264.6 metres, including 12.4 metres at 3.18 g/t gold from 264.6 metres.
In addition, Perseus returned further high-grade results in the CMA hanging wall, reflecting CMA splays or oblique S-structures including:
- 13 metres at 7.78 g/t gold from 145 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.
Looking ahead, the company will use these results to upgrade the CMA underground inferred mineral resource estimate to the indicated category and complete a pre-feasibility study (PFS) for a Yaouré underground mining operation in the June quarter.
“Next decade and beyond”
Perseus 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 Yaouré 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.
“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 Côte d’Ivoire.”
Forward plan
Perseus’s ongoing exploration and study programs at Yaouré will focus on:
- Completion of the infill drilling program to convert the CMA Inferred Resource to an Ore Reserve potentially exploitable by underground mining methods and providing the basis for a Pre-Feasibility Study (PFS).
- Geotechnical, hydrological, mining and metallurgical studies are underway, with a targeted completion for the PFS being the end of the June Quarter of 2022, with timing dependent on the ultimate footprint size of the orebody.
- Resumption of drilling down-dip of the Inferred Resource to identify the potential for further resource extensions.
- Continued analysis of data generated from the 3D seismic survey to define targets for drill testing.
- Completion of a property-wide geochemical auger drilling program to define bedrock geochemical and alteration patterns beneath the extensive transported cover.