Endeavour Increases Indicated Resources at Its Tanda-Iguela
Greenfield Property by 303% to 4.5moz
ENDEAVOUR INCREASES INDICATED RESOURCES
AT ITS TANDA-IGUELA GREENFIELD PROPERTY BY 303% TO
4.5MOZ
Indicated resource of 4.5Moz at 1.97 g/t · $11/oz
discovery cost · PFS targeted by late 2024
HIGHLIGHTS:
- The Tanda-Iguela property in Côte d’Ivoire continues to
be Endeavour’s largest exploration focus as over 226km of drilling
has been completed on the property since late 2021, with 168km
completed in YTD 2023
- Tanda-Iguela now ranks as one of the most significant
discoveries made in West Africa over the last decade
- 96% of the Assafou deposit has been converted to
Indicated status while the overall endowment has significantly
increased over the 2022 maiden resource based on this year’s
drilling campaign
- Assafou now hosts an Indicated resource of 4.5Moz at
1.97 g/t Au and an Inferred resource of 0.2Moz at 1.91 g/t Au,
compared to the 2022 maiden Indicated resource of 1.1Moz at 2.33
g/t Au and Inferred resource of 1.9Moz at 1.80 g/t Au
- Significant upside potential as the 3.3km Assafou
mineralised trend is open along strike and at
depth
- Assafou is amenable to conventional open pit mining as
mineralisation starts at surface
- Preliminary metallurgical testwork indicates overall
average gold recoveries of over 94%
- Located in proximity to good infrastructure with paved
highway and high voltage grid power nearby
- Low Indicated resource discovery cost of $11/oz, with a
cumulative $50m spent on exploring the property
- Further exploration is underway at the Assafou deposit
and at seven satellite targets identified within 5km of the Assafou
deposit
- A Preliminary Feasibility Study is expected to be
completed in late 2024
|
Abidjan, 29 November
2023 – Endeavour Mining plc (LSE:EDV, TSX:EDV,
OTCQX:EDVMF) (“Endeavour”, the “Group” or the “Company”) is pleased
to announce that the extensive 2023 drill programme at its
Tanda-Iguela greenfield property in Côte d’Ivoire has resulted in
the delineation of a 4.5Moz Indicated resource, grading 1.97 g/t
Au, which marks a 303% increase over the maiden Indicated resource
estimate published in late 2022, thereby confirming its potential
to be a Tier 1 asset.
As shown in Table 1 below, drilling has resulted
in an overall increase in the Assafou deposit’s endowment with 96%
of the resource now classified in the Indicated category. The
previous maiden resource was published in November 2022, based on
58,000 metres of drilling, while the updated November 2023 resource
is based on 183,000 metres of drilling with further drilling yet to
be incorporated. The Assafou deposit now spans 3.3 kilometres in
length and remains open along strike and at depth, with further
drilling planned to delineate along strike extensions in 2024. In
addition, the 2023 drill programme confirmed mineralisation at
seven targets located within 5 kilometres of the Assafou deposit,
where further drilling is planned for 2024.
Table 1: Assafou Mineral Resource
Estimate Evolution
|
AS AT 31 OCTOBER, 2022 |
|
AS AT 14 NOVEMBER, 2023 |
Δ AU CONTENT |
On a 100% basis |
Tonnage |
Grade |
Content |
|
Tonnage |
Grade |
Content |
(Mt) |
(Au g/t) |
(Au koz) |
(Mt) |
(Au g/t) |
(Au koz) |
Indicated Resources |
14.9 |
2.33 |
1,114 |
|
70.9 |
1.97 |
4,493 |
+303% |
Inferred
Resources |
32.9 |
1.80 |
1,903 |
|
2.9 |
1.91 |
176 |
(91)% |
Mineral Resource Estimate current as at 14
November 2023. No Measured resources have been estimated. Mineral
Resources estimates follow the Canadian Institute of Mining,
Metallurgy and Petroleum ("CIM") definitions standards for mineral
resources and have been completed in accordance with the Standards
of Disclosure for Mineral Projects as defined by National
Instrument 43-101. Reported tonnage and grade figures have been
rounded from raw estimates to reflect the relative accuracy of the
estimate. Minor variations may occur during the addition of rounded
numbers. Mineral Resources that are not Mineral Reserves do not
have demonstrated economic viability. Resources were constrained by
$1,500/oz gold price MII Pit Shell and based on a cut-off of 0.5
g/t Au.
Sébastien de Montessus, President and CEO,
commented: “We are thrilled with the success achieved at our
Tanda-Iguela greenfield property in Côte d’Ivoire as it
demonstrates its Tier 1 asset potential. Given that we have
delineated a 4.5Moz Indicated resource at 2 g/t Au for the Assafou
deposit, it already ranks as one of the most significant
discoveries made in West Africa over the last decade.
We are pleased to have achieved this success
within a remarkably short period of time, with more than 226,000
meters drilled on the property in just two years. Coupled with our
low discovery cost of $11/oz, it demonstrates our ability to
quickly unlock significant exploration value and self-generate a
high-quality project pipeline.
We look forward to completing a preliminary
feasibility study next year, while we continue to focus on
expanding the size of the resource and delineating additional
satellite targets located within close proximity to Assafou.”
TANDA-IGUELA EXPLORATION
PROGRAMMEThe 100% owned Tanda-Iguela permits are located
in the east of Côte d’Ivoire, adjacent to the Ghana border, as
shown in Figure 1 below. The northern permit, Tanda, was introduced
into Endeavour’s portfolio in late 2015 following Endeavour’s
transaction with La Mancha. Endeavour conducted an initial drill
campaign in early 2016 that yielded positive results and quickly
identified the southern permit, Iguela, as having a high degree of
geological prospectivity. The Iguela permit was awarded to
Endeavour in May 2017, through the permitting application
process.
During 2018 and 2019, an initial geochemical
campaign, comprised of 3,436 samples, was conducted over the Iguela
permit. This campaign, coupled with considerable fieldwork and
mapping, outlined a series of significant exploration targets, with
the most attractive anomalies being located along the structural
contact, extending over more than 15 kilometres, separating the
Birimian Basement from the Tarkwaian Sandstones.
Positive initial assay results from the Assafou
target preceded a focussed 58,000 metre drilling campaign, which
successfully delineated a maiden resource comprised of Indicated
resources of 1.1Moz at 2.33 g/t Au and Inferred resources of 1.9Moz
at 1.80 g/t Au, that was published in November 2022.
Given the size and grade of the maiden resource
and the prospectivity along strike and at depth, Endeavour launched
an initial 70,000 metre drill programme at Tanda-Iguela in 2023,
that was subsequently increased to 180,000 metres following
successful results obtained early in the year. The 2023 drill
programme was focused on infill drilling the existing Inferred
resources to convert resources to Indicated status, extending the
mineralised system at the Assafou deposit to add additional
resources, and identifying potential satellite deposits within 5
kilometres of the Assafou deposit.
ASSAFOU DEPOSITThe November
2023 updated mineral resource estimate for the Assafou deposit is
comprised of an Indicated resource of 4.5Moz at 1.97 g/t Au and an
Inferred resource of 0.2Moz at 1.91 g/t Au. The updated resource
estimate, which is based on a cut-off grade of 0.5 g/t Au and a
$1,500/oz gold price, is very robust due to its relative high-grade
and thick, continuous mineralisation, as demonstrated with the
sensitivity analysis performed at various gold prices, presented in
Table 2 below.
Table 2: Assafou Mineral Resource
Estimate Sensitivity
|
TONNAGE |
GRADE |
CONTENT |
|
(Mt) |
(Au g/t) |
(Au koz) |
INDICATED RESOURCE |
|
|
|
Based on a gold price of
$1,300/oz |
62.9 |
2.03 |
4,103 |
Based on a gold price of
$1,500/oz |
70.9 |
1.97 |
4,493 |
Based on a gold price of
$1,700/oz |
72.7 |
1.95 |
4,560 |
Based on a gold price of
$1,900/oz |
73.5 |
1.95 |
4,607 |
Based on a gold price of
$2,000/oz |
74.1 |
1.94 |
4,620 |
|
|
|
|
INFERRED RESOURCE |
|
|
|
Based on a gold price of
$1,300/oz |
2.3 |
1.74 |
129 |
Based on a gold price of
$1,500/oz |
2.9 |
1.91 |
176 |
Based on a gold price of
$1,700/oz |
3.2 |
1.98 |
203 |
Based on a gold price of
$1,900/oz |
3.3 |
1.98 |
208 |
Based on a gold price of
$2,000/oz |
3.4 |
2.01 |
220 |
Mineral Resource Estimate current as at 14
November 2023. No Measured resources have been estimated. Mineral
Resources estimates follow the Canadian Institute of Mining,
Metallurgy and Petroleum ("CIM") definitions standards for mineral
resources and have been completed in accordance with the Standards
of Disclosure for Mineral Projects as defined by National
Instrument 43-101. Reported tonnage and grade figures have been
rounded from raw estimates to reflect the relative accuracy of the
estimate. Minor variations may occur during the addition of rounded
numbers. Mineral Resources that are not Mineral Reserves do not
have demonstrated economic viability. Resources are reported
undiluted and were constrained by MII $1,500/oz Pit Shell and for
sensitivity purpose by approximate MII at $1,300/oz, $1,700/oz and
$1,900/oz and $2,000 pit shells and based on a cut-off of 0.5 g/t
Au.
For technical notes and drilling results from
the Assafou drill programme, please see the Technical Notes section
and Appendix A below.
Mineralisation at the Assafou deposit is both
disseminated and hosted in quartz veins within the Tarkwaian
Sandstones. The deposit appears to be monometallic containing no
potentially penalising elements associated with the gold.
Mineralisation starts at surface extending down to over 300 metres
depth, and is continuous along strike, along the prominent
northwest trending structure that separates the Tarkwaian
Sandstones from the mafic Birimian Basement rocks. The deposit
comprises a thick main (up to 60 metres) continuous lens, appearing
to be dipping at a low angle to the southwest, overlaid by a series
of stacked lenses.
As shown in Figure 2 in the attached release,
drilling has significantly increased the length of the mineralised
trend from 2.2 kilometres in the November 2022 maiden resource to
3.3 kilometres in the updated November 2023 resource. Furthermore,
the length of the Indicated resource envelope has increased from
0.6 kilometres to 3.0 kilometres.
High grade mineralisation and the thickest
mineralised intercepts are located along the structural contact
between the mafic Birimian Basement rocks and the Tarkwaian
Sandstones. Infill drilling during 2023 has identified shallow
mineralisation in the southeast, northwest and southwest of the
deposit where shallow mineralisation had not been previously
identified. The 2023 drill programme also identified deep
mineralisation below 250 metres depth, below the maiden November
2022 resource pit shell.
Mineralisation at Assafou remains open along
strike towards the northwest and towards the southeast, as well as
at depth, where deep drilling below 250 metres has been limited.
For 2024, a 60,000 metre drill progamme has been planned with
25,000 metres planned to further expand the Assafou resource and
35,000 metres planned to delineate potential satellite targets
located in close proximity to Assafou.
Cross Section 3133: Resources extended
to the northwest outside of the November 2022 resource pit
shell
As shown in Figure 3 in the attached release,
further drilling confirmed the extension of the resource by
approximately 400 metres to the northwest along the structural
contact between the Tarkwaian Sandstones and the Birimian Basement.
Furthermore, drillholes IGRCDD23-676 and IGRCDD23-342 drilled to
over 300 metres depth have identified additional lenses of
mineralisation, including 28.7 metres at 1.98 g/t Au, highlighting
that mineralisation extends below the November 2023 resource pit
shell.
Cross Section 2933: Infill drilling in
the northwest of Assafou extended resources at depthAs
shown in Figure 4 in the attached release, drilling confirmed
continuity of the mineralisation toward the northwest, beyond and
underneath the November 2022 resource pitshell. In addition,
further drilling highlighted the presence of deeper mineralised
lenses below the November 2023 pitshell, suggesting that there is
potential to further extend resources at depth.
Cross Section 2333: Infill drilling
identified shallow mineralisation in the southwest of the
depositAs shown in Figure 5 in the attached release,
drilling conducted in 2023 within the November 2022 resource pit
shell (in drillholes IGRC23-1157, IGRC23-1156, IGRC23-1151 and
IGRCDD23-990) identified several shallow mineralised lenses
starting at surface at the southwest, over 300 metres away from the
structural contact with the Birimian Basement, in an area that was
previously largely unexplored.
Cross Section 1933: Infill drilling in
the centre of the deposit extended resources at depthAs
shown in Figure 6 in the attached release, infill drilling within
the November 2022 resource pitshell confirmed the presence of
high-grade mineralisation and thickness of the main mineralised
lenses in close proximity to the structural contact with the
Birimian Basement rocks. In addition, further drilling highlighted
the presence of deeper underlying lenses that have extended
mineralisation to a depth of over 250 metres. The structural
contact between the Birimian Basement rocks and the Tarkwaian
Sandstones plunging towards the southwest below the Assafou deposit
suggests potential for further high-grade mineralised lenses at
depth.
Cross Section 1766: Infill drilling has
added additional resources close to surface and at depthAs
shown in Figure 7 in the attached release, infill drilling has
confirmed the presence of a series of stacked mineralised lenses
towards the southwest of the deposit which are less than 100 metres
below the surface. Further, drilling at depth has confirmed that
mineralisation extends below the 2022 resource pit shell to a depth
of over 250 metres at the contact zone with the Birimian Basement
rocks.
Cross Section 0533: Drilling has
extended resources southeast of the November 2022
resourcesAs shown in Figure 8 in the attached release,
additional drilling has identified high-grade, thick continuous
mineralisation located approximately 1.5 kilometres southeast of
the November 2022 Indicated resource boundary and over 300 metres
southeast of the November 2022 Inferred resource boundary extending
the pitshell significantly to the southeast. High grade
mineralisation occurs as stacked lenses extending from the surface
down to over 200 metres depth.
EXPLORATION ON TARGETS LOCATED NEAR
ASSAFOU A total of 20,000 metres of drilling is planned
for FY-2023 to test high priority targets identified within a 5
kilometre radius of the Assafou deposit, with 17,000 metres of
drilling completed year to date. As shown in Figure 9 below,
drilling has focused on Assafou satellite targets, located within a
similar geological setting and hosted along similar structural
contacts between the Tarkwaian Sandstones and the Birimian
Basement.
The mineralised structure that hosts Assafou has
now been identified over a 12 kilometre strike length, extending
from Kongodjan in the southeast to Gbabango to the northwest.
Results from scout drilling at the Kongodjan target identified a
continuation of mineralisation along a 3 kilometre untested
corridor between the southeast end of Assafou and Kongodjan.
In addition to mineralisation discovered along
the structural contact, parallel structures have also been
identified on the southwestern part of the basin where two main
gold in soil anomalous trends, Pala trend 2 and trend 3, were
delineated following scout drilling this year, which revealed these
mineralised structures along the contact between the Tarkwaian
Sandstone and Birimian Basement.
The Pala trend 2 target, located 4 kilometres
west of Assafou, displays continuity of mineralisation over more
than 0.6 kilometres along a northwest strike. Significant
mineralisation was also intercepted in scout drillholes at Pala
Trend 3, located 2 kilometres west of Assafou. Mineralisation at
Pala Trend 3 is open to the northeast as well as along strike in
both directions.
Notably, gold occurrences have also been
intercepted 0.5 kilometres to the northwest of Assafou at the
Assafou NW target, where gold mineralisation occurs exclusively in
mafic Birimian Basement rocks.
Together, these other gold occurrences are still
at an early exploration stage and mineralisation remains open along
strike and at depth as large portions of the structures have yet to
be tested. Their position in a similar geological and structural
setting to that of Assafou indicate a high level of
prospectivity.
In 2024, at least 35,000 metres of drilling are
planned to continue to test high-priority targets located within
close proximity to the Assafou deposit. Follow up drilling is
planned on the Gbabango, Assafou NW and Kongodjan targets located
along the 12 kilometre structural trend that hosts the Assafou
deposit as well as the parallel structure hosting the Pala trend
targets. In addition, drilling will focus on testing new targets on
the Tanda permit including Sokouadou, Gbokore, and Djani-Yao.
NEXT STEPS
- A Preliminary Feasibility Study (“PFS”) has been launched,
based on the updated November 2023 resource estimate, which is
expected to be finalised in late 2024.
- Long lead items within the PFS have been started, including
metallurgical sampling, geotechnical, hydrogeological and
sterilisation drilling and environmental permitting.
- Metallurgical sampling and testing is underway to follow up on
the preliminary phase of testwork which demonstrated the potential
for high gravity recoverable gold and overall average recoveries
above 94%.
- Geotechnical and hydrogeological drilling are underway across
the Assafou deposit.
- Sterilisation drilling is underway to the northeast of the
Assafou deposit to identify and sterilise the probable location for
mine and processing infrastructure.
- The environmental permitting process has been launched with
study work underway that will form the basis of the environmental
reporting.
- Drilling will continue in 2024, with at least 60,000 metres
planned at Tanda-Iguela, of which 25,000 metres will focus on
delineating further resources at Assafou, while 35,000 metres will
focus on delineating potential satellite deposits in close
proximity to Assafou.
TECHNICAL NOTES
Assafou Geology
Mineralisation at Assafou is mainly hosted in
Tarkwaian Sandstone, at/or immediately in the vicinity of the
structural contact with Birimian Basement rocks (mainly mafic
rocks). Gold mineralisation occurs both as disseminated occurrences
within pervasively altered sandstone and within, or at the edges
of, quartz (±carbonate) veins and breccias that crosscut the
altered sandstones. Alteration is reflected by an induration
(silicification) and by the presence of sulphides (pyrite),
disseminated within the matrix and distributed along the sandstone
bedding. The more intense the silicification (and presence of
pyrite), the more mineralised the sandstones tend to be.
The structural contact likely controlled the
initial sandstone deposition (normal fault in extensional regime).
It was then reactivated under a SSW-NNE compressive regime at the
brittle-ductile transition, associated with strong mylonitisation
and alteration (quartz, carbonate, pyrite, ± sericite, ± chlorite)
of the Birimian Basement rocks, and to mafic and felsic intrusions
as dykes and sills. Gold mineralisation is likely to have occurred
during this reversal, in the post-Tarkwaian reactivation event.
Mineralising hydrothermal fluids are believed to have
preferentially invaded the Tarkwaian Sandstones rather than the
Birimian Basement rocks, due to their higher initial porosity,
permeability and competency.
Assafou Resource Modelling
The statistical analysis, geological modelling
and resource estimation were prepared by a resource team of
Endeavour. Geological modelling and mineral resource estimation
study has been done by Can Aydogan. The Qualified Person as defined
by NI 43-101 is Kevin Harris, Vice President of Resources with
Endeavour Mining.
The Assafou mineral resource model was developed
in Seequent’s Leapfrog Geo, Snowden’s Supervisor and Geovia’s
Surpac software. The database used to generate the mineral
resources comprised some 868 drill holes, totalling 183,081 metres.
The drill hole data was supported by industry-standard quality
assurance and quality control systems, with quality control
sampling comprising blanks, coarse blanks, certified reference
materials, and field and pulp duplicates. Endeavour’s resource team
has reviewed the QAQC data available and considers the assay data
to be suitable for use in the subsequent mineral resource
estimate.
Mineralisation domains were modelled with the
Vein System tool in Leapfrog Geo using the interval selection for
each vein. The gold assays from the drill holes were composited to
1.0 metre intervals. Grade capping values were applied depending on
the mineralised domain, between no cap and 45 g/t. Spatial analysis
of the gold distribution within the mineralised zone indicated good
continuity of the grades along strike and down dip within the
mineralised zones. Variography has been applied using Snowden’s
Supervisor for the largest mineralised zones (101, 102, 103, 104,
105, 106, 110 and 112) and variogram models were produced for these
domains. These largest domains represent almost half of the entire
population and have a good geological and grade continuity.
Density measurements from 401 drill holes and
covering each of the lithologies, were averaged based on the
material type (and lithology, in the case of fresh material).
Average density values were applied to the associated portions of
the block model as outlined below:
- Laterite 1.79 g/cm3
- Saprolite: 1.96 g/cm3
- Saprock: 2.36 g/cm3
- Fresh: 2.76 g/cm3
Gold grades were estimated in Geovia’s Surpac
using Inverse Distance Squared (‘’IDW2’’) for most of the modelled
mineralisation. Ordinary Kriging (‘’OK’’) was only used for the
largest domains which include sufficient data for variogram models.
The Ordinary Kriging (“OK”) estimation represents almost half of
the mineralised volume. The grade was estimated in multiple
passes to define the higher confidence areas and extend the grade
to the interpreted mineralised zone extents.
The grade estimation was validated with visual
and statistical analysis, and comparison with the drilling data on
sections with swath plots comparing the block grades with the
composites.
The majority of the resource is within the fresh
rock, approximately 0.5% of the ounces is oxide, 5.7% is transition
and 93.8% is fresh rock.
Endeavour considers that the quality and spatial
distribution of the data used, the geological continuity of the
mineralisation and the quality of the estimated block model for the
Assafou deposit are sufficient for the reporting of Indicated and
Inferred mineral resources, in accordance with the CIM Definition
Standards. Indicated mineral resources have typically been defined
in areas with a drill hole spacing of 30-40 metres along sections,
and 30-40 metres between sections, where there is a reasonable
level of confidence in geological and grade continuity. Inferred
mineral resources have typically been defined in areas with a
drillhole spacing of 50 to 75 metres, and where the controls on
mineralisation are less well understood, or the continuity is
reduced.
Mineral resources are reported within an
optimised pit shell using a cut-off grade of 0.5 g/t Au. Technical
and economic assumptions were agreed for mining factors (mining and
selling costs, mining recovery and dilution, pit slope angles) and
processing factors (gold recovery, processing costs), which were
used for optimisation. The optimised factors are summarised
below:
- Mining cost: US$4.06/t ore and US$ 3.12/t waste
- Processing cost: Oxide/Transitional: US$ 11.08/t ore; Fresh:
US$ 11.66/t ore
- G&A cost: US$ 4.68/t ore
- Selling cost: US$ 71.50/oz Au
- Mining recovery: 95%; Dilution 0%
- Processing recovery: 95.7% for Oxide/Transition and 93.6% for
Fresh at the average grade
- Average slope angles: 28-43°, dependent on geotechnical
domain
Drilling,
Assay, Quality Assurance / Quality Control Procedures
Reverse Circulation (“RC”) and Air Core (“AC”)
drilling uses high pressure compressed air to deliver rock
materials to the surface. The compressed air is delivered via a
dual tube drill rod system, with an outer tube for air going
down-hole, and an inner-tube for return going back to surface. In
RC drilling, compressed air drives a percussion hammer. In both RC
and AC drilling, compressed air carries rock particles back to
surface via the inner-tube, minimizing potential contamination
affects.
The samples are collected from the cyclone at
surface at 1 metre intervals. The cyclone is cleaned after every
6-metre rod by flushing the hole and physical opening of the
cyclone and blowing out with compressed air at the end of each
hole. Additional manual cleaning is required in saprolitic or wet
ground, closely monitored by the site geologist / geotechnician to
ensure no sample-to-sample contamination occurs. Samples are
manually split at the drill site using several different riffle
splitters, based on bulk sample weight. 2 to 5 kilograms laboratory
samples and a second 2 to 5 kilograms reference sample are
collected. Bulk and laboratory sample weights, in addition to
moisture levels are recorded. Representative samples for each
interval were collected with a spear, sieved into chip trays and
retained for reference.
Drill core (PQ, HQ and NQ size) samples are
selected by Endeavour geologists and cut in half with a diamond
blade at the project site. Half of the core is retained at the site
for reference purposes. Sample intervals are generally 1 metre in
length, adjusted with geologic and/or structural contacts. All
samples are transported by road to Bureau Veritas in Abidjan. Each
laboratory sample is secured in poly-woven bags ensuring that there
is a clear record of the chain of custody. On arrival samples are
weighed. Complete samples are crushed to 2 mm (70% passing) with 1
kilogram split out for pulverization. The entire 1 kilogram is
pulverized to 75 μm (85% passing). A 50-gram sample is extracted
and analysed for gold using standard fire assay technique. An
Atomic Absorption (“AA”) finish provides the final gold value.
Blanks, field duplicates and certified reference
material (“CRM’s”) are inserted into the sample sequence by
Endeavour geologists at a rate of 1 of each samples type per 20
samples. This ensures that there is a 5% Quality Assurance /
Quality Control (“QA/QC”) sample insertion rate applied to each
fire assay batch. The sampling and assaying are monitored through
analysis of these QA/QC samples. This QA/QC program was audited by
a consultant, independent from Endeavour Mining and has been
verified to follow industry best practices.
In 2021 and 2022, 1,757 samples were sent to ALS
Ouagadougou for umpire (referee) analysis. Comparison of the
Original analysis against the umpire analysis revealed a very
strong Correlation Coefficient of 95.90% suggesting that the
original assays provided by Bureau Veritas in Abidjan are accurate.
Core sampling and assay data were monitored through a quality
assurance/quality control program designed to follow NI 43-101 and
industry best practice.
This news release highlights the best selected
intercepts from drilling activities between 1 January 2023 to 14
November 2023. Full drill results are available by clicking
here.
QUALIFIED PERSONS
The scientific and technical content of this
news release has been reviewed, verified and compiled by Silvia
Bottero, Professional Natural Scientist, Senior Vice President -
West Africa Exploration for Endeavour Mining. Silvia Bottero has
more than 20 years of mineral exploration and mining experience and
is a "Qualified Person" as defined by National Instrument 43-101 –
Standards of Disclosure for Mineral Projects ("NI 43-101"). The
resource estimation was completed by Kevin Harris, CPG, Vice
President - Resources for Endeavour Mining and "Qualified Person"
as defined by National Instrument 43-101.
CONTACT INFORMATION
Martino De Ciccio Deputy CFO & Head of
Investor Relations +44 203 640 8665
mdeciccio@endeavourmining.com |
Brunswick Group LLP in LondonCarole Cable, Partner
+44 7974 982 458 ccable@brunswickgroup.com |
ABOUT ENDEAVOUR MINING
CORPORATION
Endeavour Mining is one of the world’s senior
gold producers and the largest in West Africa, with operating
assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong
portfolio of advanced development projects and exploration assets
in the highly prospective Birimian Greenstone Belt across West
Africa.
A member of the World Gold Council, Endeavour is
committed to the principles of responsible mining and delivering
sustainable value to its employees, stakeholders and the
communities where it operates. Endeavour is listed on the London
and Toronto Stock Exchanges, under the symbol EDV.
For more information, please visit
www.endeavourmining.com.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking
statements" including but not limited to, statements with respect
to Endeavour's plans for further exploration of the Tanda-Iguela
property, the extent and timing of Endeavour’s drilling campaign,
the timing of the updated mineral resource estimate, the estimation
of mineral resources, and the success of exploration activities.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "expects",
"expected", "budgeted", "forecasts", and "anticipates".
Forward-looking statements, while based on management's best
estimates and assumptions, are subject to risks and uncertainties
that may cause actual results to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to: risks related to the successful integration of
acquisitions; risks related to international operations; risks
related to general economic conditions and credit availability,
actual results of current exploration activities, unanticipated
reclamation expenses; changes in project parameters as plans
continue to be refined; fluctuations in prices of metals including
gold; fluctuations in foreign currency exchange rates, increases in
market prices of mining consumables, possible variations in ore
reserves, grade or recovery rates; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes,
title disputes, claims and limitations on insurance coverage and
other risks of the mining industry; delays in the completion of
development or construction activities, changes in national and
local government regulation of mining operations, tax rules and
regulations, and political and economic developments in countries
in which Endeavour operates. Although Endeavour has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Please refer to Endeavour's
most recent Annual Information Form filed under its profile at
www.sedar.com for further information respecting the risks
affecting Endeavour and its business.
APPENDIX A: BEST SELECTED
INTERCEPTS
HOLE ID |
|
FROM (m) |
TO (m) |
TRUE LENGTH (m) |
AU GRADE (g/t) |
IGRCDD23-336 |
|
125.0 |
132.0 |
5.9 |
5.53 |
|
including |
128.0 |
129.0 |
0.8 |
22.75 |
|
including |
128.0 |
129.0 |
0.8 |
27.63 |
|
and |
135.0 |
143.0 |
6.7 |
4.05 |
|
including |
141.0 |
142.0 |
0.8 |
11.62 |
|
and |
155.0 |
175.0 |
16.8 |
7.49 |
|
including |
160.0 |
161.0 |
0.8 |
13.80 |
|
including |
164.0 |
165.0 |
0.8 |
10.39 |
|
including |
165.0 |
166.0 |
0.8 |
77.90 |
|
including |
166.0 |
167.0 |
0.8 |
10.39 |
|
and |
189.0 |
209.0 |
16.8 |
4.39 |
|
including |
195.0 |
196.0 |
0.8 |
18.97 |
|
including |
202.0 |
203.0 |
0.8 |
11.57 |
|
and |
211.2 |
239.4 |
23.7 |
3.90 |
|
including |
220.0 |
221.0 |
0.8 |
11.37 |
|
including |
228.2 |
228.9 |
0.6 |
21.62 |
|
including |
228.9 |
229.9 |
0.8 |
14.11 |
|
including |
237.8 |
238.8 |
0.8 |
12.13 |
|
and |
287.4 |
296.1 |
7.3 |
2.79 |
|
including |
288.3 |
289.0 |
0.6 |
14.61 |
|
and |
303.7 |
315.0 |
9.6 |
2.52 |
|
including |
288.3 |
289.0 |
0.6 |
14.61 |
|
and |
303.7 |
315.0 |
9.6 |
2.52 |
IGRCDD23-356 |
|
119.0 |
171.0 |
43.6 |
1.83 |
|
including |
149.0 |
150.0 |
0.8 |
11.35 |
IGRCDD23-359 |
|
105.0 |
116.0 |
8.7 |
2.66 |
|
and |
151.0 |
166.0 |
11.8 |
8.94 |
|
including |
158.0 |
159.0 |
0.8 |
97.30 |
|
and |
169.0 |
190.0 |
16.6 |
2.35 |
|
and |
200.7 |
234.0 |
26.3 |
3.52 |
|
and |
237.0 |
252.0 |
11.8 |
3.39 |
|
including |
230.0 |
231.0 |
0.8 |
37.50 |
|
including |
240.0 |
241.0 |
0.8 |
18.70 |
|
including |
249.0 |
250.0 |
0.8 |
13.44 |
|
and |
302.3 |
309.4 |
5.6 |
6.24 |
|
including |
306.3 |
307.0 |
0.6 |
36.10 |
IGRCDD23-457 |
|
155.0 |
214.7 |
50.1 |
2.09 |
|
and |
270.5 |
281.8 |
9.5 |
1.39 |
|
including |
290.0 |
291.0 |
0.8 |
16.49 |
|
and |
374.8 |
385.0 |
8.6 |
1.88 |
|
including |
290.0 |
291.0 |
0.8 |
16.49 |
IGRCDD23-531 |
|
121.0 |
129.0 |
7.9 |
6.41 |
|
including |
122.0 |
123.0 |
1.0 |
16.56 |
|
including |
123.0 |
124.0 |
1.0 |
17.13 |
|
and |
138.0 |
210.0 |
71.5 |
5.29 |
|
including |
140.0 |
141.0 |
1.0 |
19.21 |
|
including |
146.0 |
147.0 |
1.0 |
21.27 |
|
including |
160.0 |
161.0 |
1.0 |
22.91 |
|
including |
165.0 |
166.0 |
1.0 |
12.26 |
|
including |
183.0 |
184.0 |
1.0 |
29.36 |
|
including |
186.0 |
187.0 |
1.0 |
11.73 |
|
including |
203.0 |
204.0 |
1.0 |
16.59 |
|
including |
204.0 |
205.0 |
1.0 |
12.98 |
|
including |
205.0 |
206.0 |
1.0 |
48.20 |
|
including |
206.0 |
207.0 |
1.0 |
13.99 |
IGRCDD23-541 |
|
51.0 |
65.0 |
12.0 |
0.75 |
|
and |
91.0 |
100.0 |
7.7 |
0.62 |
|
and |
105.0 |
111.0 |
5.1 |
1.37 |
|
and |
166.0 |
248.0 |
70.3 |
2.94 |
|
including |
189.0 |
190.0 |
0.9 |
56.60 |
|
including |
213.1 |
214.1 |
0.9 |
10.80 |
|
including |
217.1 |
218.0 |
0.8 |
13.30 |
|
including |
238.8 |
239.8 |
0.9 |
18.02 |
|
and |
294.5 |
302.5 |
6.9 |
0.98 |
IGRCDD23-599 |
|
74.0 |
80.0 |
5.0 |
1.58 |
|
and |
111.0 |
143.0 |
26.8 |
2.05 |
|
including |
130.0 |
131.0 |
0.8 |
15.85 |
|
and |
200.0 |
209.8 |
8.2 |
3.62 |
IGRCDD23-700 |
|
132.0 |
138.0 |
6.0 |
1.33 |
|
and |
150.0 |
166.0 |
15.9 |
4.05 |
|
including |
155.0 |
156.0 |
1.0 |
13.24 |
IGDD23-749 |
|
76.8 |
84.6 |
7.8 |
2.16 |
|
including |
78.7 |
79.5 |
0.8 |
11.38 |
|
and |
118.3 |
123.3 |
5.0 |
0.57 |
|
and |
127.4 |
140.4 |
13.0 |
1.28 |
|
and |
145.6 |
175.2 |
29.6 |
3.10 |
|
including |
173.7 |
174.4 |
0.7 |
51.20 |
|
and |
63.0 |
78.0 |
12.6 |
4.92 |
|
including |
68.0 |
69.0 |
0.8 |
22.81 |
Best selected intercepts include intercepts with
a true length greater than 5 metres. Full drill results are
available by clicking here.
Drill sampling parameters: For compositing
Infill drill holes a 0.3 g/t Au cut off for samples, 0.5 g/t Au
minimum value composite and 2.0 metre maximum interval dilution
length. Composite interval represent calculated downhole (true)
thickness. “Including” represents >10 g/t Au.
For compositing exploration drill holes a 0.3
g/t Au cut off for samples, 0.3 g/t Au minimum value composite and
2.0 metre maximum interval dilution length. Composite interval
represent calculated downhole (apparent) thickness. “Including”
represents >10 g/t Au.
- 231129 - NR - Tanda Iguela Resource Update
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