Perseus Mining Ltd (ASX:PRU, TSX:PRU, OTC:PMNXF) continues to showcase the potential of its Yaouré Gold Mine in Côte d’Ivoire with ongoing drilling returning high-grade gold results from the CMA Northwest and CMA North targets.
The West African gold producer has been undertaking infill and extension drilling at Yaouré after announcing a maiden underground ore reserve of 2.2 million tonnes at 3.58 g/t gold for 259,000 ounces last October.
Confidence growing
“With our three gold mines, Yaouré, Edikan and Sissingué, producing at an annualised rate of more than 500,000 ounces of gold per year, Perseus aims to maintain this level of production to the end of the current decade and beyond,” managing director and chief executive officer Jeff Quartermaine said.
“Our latest infill and step-out drilling results from below Yaouré’s CMA open pit and the recently reported underground reserve have confirmed previous drilling results and give us a growing level of confidence that these mineral resources and reserves will continue to grow.”
To achieve that, drilling over the next two quarters will aim to convert resources from inferred to indicated, as well as test additional targets in the hope of making new discoveries.
More gold
Results received to date from drilling of the CMA structure continue to be positive.
CMA Northwest Target (NYSE:TGT)
The first phase of FY2023 drilling was recently completed, consisting of 26 holes for an aggregate of 8,846 metres.
This program was designed to target the northwest extension of the CMA and while there were multiple high-grade intercepts, they were generally thinner than expected.
SInce initial indications are that they will not add significant ore reserve ounces, Perseus has decided to delay Phase Two until drilling is completed at higher priority areas.
Regardless, the best intercept here returned 22.00 metres at 3.14 g/t gold from 281.09 metres, including 15.00 metres at 4.42 g/t from 283 metres and 3.40 metres at 11.28 g/t from 294 metres.
CMA North
The North drill program targeting 38 holes for 16,000 metres is underway.
To date, 26 holes have been completed for an aggregate of 13,719.2 metres.
Results have been extremely encouraging, delivering broad high-grade intercepts and demonstrating strong potential to add to the mineral resource and ore reserves.
The best assays include:
- YRC2181D - 13.2 metres at 9.36 g/t gold from 332 metres, including 5.8 metres at 18.01 g/t from 337 metres;
- YRC2157D - 24 metres at 3.65 g/t from 308 metres, including 6 metres at 10.34 g/t from 313 metres;
- YRC2166D - 13 metres at 5.99 g/t from 388 metres, including 2.8 metres at 23.74 g/t from 392.2 metres;
- YRC2180D - 8 metres at 5.07 g/t from 322 metres; and
- YRC2162D - 22.5 metres at 2.14 g/t from 405.5 metres, including 13.1 metres at 3.14 g/t from 414.9 metres.
Drilling recently commenced and will comprise 16 holes for 6,275 metres.
To date, seven reverse circulation (RC) pre-collars have been completed for an aggregate of 514 metres.
Results are not yet available.
CMA Deeps
Perseus has completed six holes for 7,275 metres aimed at testing conceptual targets, including targets generated from a 2020 3D seismic survey.
Early results have identified new ‘hanging wall’ lodes associated with seismic reflectors, with the best intersection hitting 41 metres at 1.12 g/t gold from 437 metres, including 3 metres at 4.87 g/t from 514.8 metres, 1-metre at 19.47 g/t from 474 metres and 8.8 metres at 3.46 g/t from 506 metres.
Work is continuing.
Forward plan
The ongoing exploration and study programs at Yaouré will focus on:
- Continuation of drilling to upgrade the status of mineral resources at CMA and Yaouré.
- Continued drilling down dip of the current underground CMA ore reserve to identify the potential for further resource extensions.
- Continuation of drill testing of targets generated from the 3D seismic survey, with an initial focus on near-surface targets.
- Aircore and auger drilling at early-stage regional prospects such as Degbézéré Northeast.