Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) said it has boosted the measured and indicated gold resource at its Ity project in Côte D’Ivoire by 17% to 99mln tonnes at 1.62 grams per tonne gold for a total of 5.2mln ounces.
The company noted that drilling confirmed the continuity of the mineralised system which hosts seven deposits located near the processing plant. Mineralisation remains open at the West Flotouo, Daapleu, Bakatouo, Colline Sud and Walter deposits.
The drilling encompassed work on the Plaque area, on the Yopleu-Legaleu deposit, at the Delta Extension deposit, at Delta SE target, and at the Gbampleu target.
Endeavour is on track to achieve the previously announced target of discovering between 3.5mln and 4.5mln ounces of indicated resources at Ity over the 2021-2025 period, of which around 2mln ounces has been discovered in the last two years.
“We are very proud of our achievements at Ity, following its successful build in 2019,” commented Endeavour chief executive Sebastien de Montessus in a statement.
“The mine now ranks amongst the highest quality operations within West Africa due to its low-cost production profile and long mine life. This status has been underpinned by our significant exploration success at Ity, which has led to a more than doubling of the resource base since its feasibility study was published in 2016, coupled with a strong operating performance," he added.
All three of Endeavour’s flagship assets, Sabodala-Massawa, Houndé and Ity, now boast measured and indicated resources above five million ounces.
“Looking ahead, we continue to see significant exploration potential at Ity as we remain on track to achieve our objective of discovering between 3.5mln to 4.5mln ounces indicated resources over the 2021-2025 period, with nearly two million ounces discovered already,” said de Montessus.
“At a group level, we are pleased to also be on track to discovering between 15 to 20Moz of indicated resources over the same period. Meanwhile, on the operational front, Ity remains on track to beat its full-year production guidance of between 255,000 and 270,000 ounces at all-in costs of between US$850 and US$900 per ounce," he concluded.