Perseus discovers more high-grade gold at Yaouré Mine

Two weeks after updating the market on a 4-year extension to the mine life of its Sissingue operations in Cote d’Ivoire, Perseus Mining (ASX:PRU) has provided further strong results from exploration drilling at its Yaouré Gold Mine in Côte d’Ivoire.

Today’s results will be used to upgrade the CMA Underground Inferred Mineral Resource estimate to the indicated category and complete a Pre-Feasibility Study (PFS) for a Yaouré underground mining operation in the June 2022 Quarter.

Infill and down-dip extension drilling on the CMA structure at Yaouré continues to confirm strong potential for further mineral resources beneath the CMA open pit (“CMA Underground prospect”).

Production levels

Perseus also returned further high-grade results in the CMA hanging-wall, reflecting CMA splays or oblique S-structures.

Commenting on today’s update, Perseus’s CEO Jeff Quartermaine said:

“Having reached our goal of producing gold at a rate of 500,000oz per year across our three gold mines, we are now working to maintain that level of production over the next decade and beyond.”

These latest drill results from Yaouré give us further confidence in the high-grade gold contained beneath the CMA open pit.”

CMA underground resource drilling

Perseus continued to focus recent exploration activities on the Yaouré permits at the CMA Underground prospect, located 2 kilometres south of the Yaouré mill.

Results received continue to demonstrate the potential for the company to materially grow its gold inventory at Yaouré through further drilling success.

As detailed previously, Perseus has focused on infill drilling at the CMA Underground to firm up a previously defined Inferred Mineral Resource of 1.8 million tonnes grading 6.1 g/t Au extending below the currently planned CMA pit. 

Drilling during the last quarter comprised 29,805 metres in 136 reverse circulation (RC) pre-collared diamond (DD) holes, infilling the existing 50 x 50 metres coverage to a nominal 25 x 25 metre pattern to allow conversion of the Inferred resource to Indicated. 

CMA down-dip drilling

Perseus received further results for drilling completed in late 2021 to investigate the next 300 metre down-dip from the current CMA Underground resource. 

The step-out program, guided by Perseus’s early 2020 3D seismic survey, is being drilled on an initial 100 x 200 metre pattern to better define the position of the CMA structure and the intensity of mineralisation. 

Management notes if results remain encouraging, this will be infilled to 100 x 100 metres to allow an initial Inferred Mineral Resource Estimate.

This program, currently on hold while the CMA Underground resource conversion drilling is completed, will resume in the next quarter.

Perseus Mining share price.