Business
Endeavour Mining Announces an Increase of 554,000 Ounces in M&I Resources at its Hounde Mine
HIGHLIGHTS: Houndé M&I Resource increased by 554koz to 4.45Moz Au following further resource delineation at the Kari Area Today’s resource increase includes ext
About this update from Endeavour Mining Plc
[{"type":"text","content":"HIGHLIGHTS: Houndé M&I Resource increased by 554koz to 4.45Moz Au following further resource delineation at the Kari Area Today’s resource increase includes extensions for the Kari West and Kari Center deposits plus maiden resources for the adjacent Kari Gap, Kari South, and Kari Pump NE deposits The Kari Area now accounts for 57% of the Houndé M&I resource, with 2.5Moz of Indicated resources discovered over the past three years The Kari Area hosts high grade deposits with ~84% of Indicated resources grading more than 2.0 g/t Au, amounting to 2.1Moz Low discovery cost of less than $15 per Indicated resource ounce for the Kari Area An exploitation license has recently been awarded for the Kari Area and mining commenced at the Kari Pump deposit Maiden reserves for Kari West, along with an updated Houndé mine plan, are expected to be published in Q3-2020 followed by maiden reserves for Kari Center and Kari Gap in Q4-2020 An additional 20,000 meter drill program is expected to start in H2-2020 Abidjan, July 22, 2020 – Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce that Measured and Indicated resources at its Houndé mine in Burkina Faso have increased by 554,000 ounces to 4.5 million ounces following further resource delineation at the Kari Area, as shown in Table 1 below. Sébastien de Montessus, CEO, commented: “We are very excited to announce this resource update as it continues to demonstrate the Houndé mine’s potential. Over 2.5Moz of Indicated resources have now been discovered in the Kari Area, ranking it as the largest resource in the Houndé mine complex. Our ability in moving the Kari Area from discovery to production in under three years underscores the success of aggressive exploration strategy and the value of our strong and established government partnerships in West Africa. Last year, the 1.0Moz Indicated resource delineated at Kari Pump led to a reserve conversion of over 700koz. We now look forward to quickly completing the work to convert the additional 1.5Moz of Indicated resources delineated for the other deposits. With 84% of the Kari Area resource grading above 2 g/t Au, we are confident we will achieve our goal of producing 250koz/year over a 10+ year mine life at Houndé by displacing lower grade material.” Table 1: Houndé Mineral Resource Evolution, current as at December 31...