Firefinch Ltd (ASX:FFX) has increased the resource for the Morila Gold Deposit in Mali by over one million ounces to 3.3 million ounces.
The Morila Gold Deposit resource now stands at 66.7 million tonnes at 1.55 g/t for 3.33 million ounces of gold.
Morila Gold Deposit - mineral resource.
As a result of this update, the global resources for the Morila Gold Project (comprising Morila deposit and the satellite deposits) now stands at 73.5 million tonnes at 1.52g/t for 3.58 million ounces of gold.
Morila Gold Project - mineral resource.
The resource for the Morila Deposit has been revised using almost 40,000 metres of drilling completed by Firefinch since the previous resource was released in February 2021.
There has been a 52% increase in the total contained ounces for the Morila Deposit and an increase of 136% in ounces within the higher confidence measured and indicated categories.
The increased confidence provides a robust basis for medium term and long term mine planning and evaluation of the Morila operations.
Comparison with previous mineral resource of the Morila Gold Deposit.
The Morila resource includes recent drilling results from the Morila Super Pit, namely results from the MidWest and Morila East zones of the deposit.
Drilling operations have ceased at Morila however samples from the drilling program are still being processed and assayed.
All material mined at the active deposits (Morila, Viper, N’Tiola) up until 30 June 2022 has been surveyed and removed from the Mineral Resource for these deposits.
Next steps
Firefinch intends to complete a study into underground mining at Morila which will confirm the economics of an underground operation and determine the cut-off grades which should be used for the underground resource.
Accordingly, the underground resource is currently classed as inferred until that study has been completed.