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Perseus Mining announces maiden underground reserve at Yaoure

Perseus Mining Limited
Perseus Mining Limited

Perth, Aug. 30, 2022 (GLOBE NEWSWIRE) -- PERSEUS MINING ANNOUNCES MAIDEN UNDERGROUND ORE RESERVE AT YAOURÉ

Perth, Western Australia/August 30, 2022/ Perseus Mining Limited (ASX/TSX: PRU) is pleased to announce a maiden Ore Reserve of 2.2Mt at 3.58g/t for 259koz for the initial stages of mining of the CMA orebody by underground methods beneath the existing CMA open pit, at its Yaouré Gold Mine in Côte d’Ivoire.

A Pre-Feasibility Study (PFS) on the drilled-out portion of the CMA deposit at Yaouré (approximately two hundred metres down dip) has been completed which has proven the economic and technical viability of underground mining immediately beneath the existing open pit, adding additional value to the Yaouré Gold Mine.

More widely spaced drilling below the underground Ore Reserve has shown that mineralisation extends deeper allowing an extension to Inferred Mineral Resources at depth. The total Mineral Resource for CMA underground now exceeds 1Moz.

In addition, Perseus is pleased to report encouraging results from exploration drilling of the first hole in a deep drilling program to explore the potential for mineralisation well below any previously drilled holes.

Extension of Inferred Mineral Resources and continued drilling success down-dip, provides strong encouragement for further expansion of the CMA underground.

HIGHLIGHTS

  • Indicated Mineral Resources at CMA underground amount to 3.7Mt at 4.48g/t for 537,000 ounces of contained gold, and Inferred Mineral Resources are estimated at 3.7Mt at 4.1 g/t gold containing 488,000 ounces of gold.

  • Maiden underground Probable Ore Reserves estimated to date total 2.2Mt of ore grading 3.58g/t gold and containing 259,000 ounces of gold.

  • Addition of the CMA underground to the Yaouré Gold Mine has the potential to extend the LOM and increase the annual ounce production profile by substituting low grade open pit feed with higher grade underground Ore Reserves.

  • The first hole in a drilling program to test a target generated from the 2020 3D seismic survey has intersected CMA mineralisation significantly further down dip than any previously drilled hole, intersecting 6m at 2.11g/t, including 2m at 5.5g/t.

Attachment

CONTACT: Nathan Ryan Media Relations +61 4 20 582 887 nathan.ryan@nwrcommunications.com.au Claire Hall Corporate Communications +61 474 558 202 claire.hall@perseusmining.com