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Avesoro Resources Inc.
Summary
| Project: | New Liberty | |
|---|---|---|
| Deposit: | New Liberty | |
| Location: | Liberia | |
| Commodities: | Gold | |
| Date: | 5/17/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 17-5-2018: Avesoro Resources Inc. announces an Exploration/Drilling Update report for its New Liberty deposit at the New Liberty project. Drilling results incl. 3m @ 11.8g/t Au from 253m. Avesoro Resources Inc., (the “Company” or “Avesoro”) is pleased to | |
| Resources: | (Resource): 7.6Mt @ 1.6g/t Au (Ind.), 9.6Mt @ 1.7g/t Au (Inf.) at Ndablama deposit | |
| CP/QP: | [Overall Report]: Mark Pryor (Independent) | |
| ABSTRACT: | Avesoro Resources Inc., (the “Company” or “Avesoro”) is pleased to report the final assay results from its 55 hole New Liberty infill drilling programme. The 19,500 metre programme was completed in Q1 2018 and is designed to upgrade a proportion of 275koz of existing Inferred Mineral Resource which sits below the current designed pit floor but within a US$1300/oz pit shell. It forms part of the Company’s wider 2018 exploration programme which has the objective of converting approximately 1 million ounces of Mineral Resources into Mineral Reserves across the Company’s portfolio of assets. These results build on the earlier assay results from 34 holes that were reported in March. An updated CIM compliant Mineral Resource and Reserve estimate for New Liberty is now being prepared and expected to be announced during Q3 2018. Serhan Umurhan, Chief Executive Officer of Avesoro Resources, commented “I am pleased to report the completion of our infill drilling programme at New Liberty where we have encountered further excellent drill results. This is further proof of the Company’s continued positive momentum towards our aim of converting 1Moz of Resources into Reserves across our portfolio from the Company’s 2018 drilling campaign. I look forward to updating the market in Q3 2018 with an increased Resource and Reserve estimate at New Liberty resulting from the infill drilling programme. I expect this to have a significant positive effect on the mine life and create further shareholder value. We also expect to be able to release positive updated Resource and Reserve estimates later this quarter for the Youga and Balogo Gold Mines, reflecting the progress made during 2017 to extend the mine lives at both assets in Burkina Faso.” | |
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