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Avesoro Resources Inc.
Summary
| Project: | Youga-Ouare | |
|---|---|---|
| Deposit: | Youga-Ouare | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 6/19/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 19-6-2018: Avesoro Resources Inc. announces a Resource Estimation report for its Youga-Ouare deposit at the Youga-Ouare project. Updated mineral resource and ore reserve estimate at the project. Following the acquisition of the Youga Gold Mine by Avesoro | |
| Resources: | (Reserve, Prob.): 11.2Mt @ 1.84g/t Au for 660.1Koz Au contained at project | |
| CP/QP: | [Resources]: Maria O'Connor (CSA Global (UK) Ltd.) | |
| ABSTRACT: | Following the acquisition of the Youga Gold Mine by Avesoro on December 18, 2017, the updated Mineral Resource and Reserve estimates were produced by CSA Global (UK) Ltd with an effective date of December 31, 2017 and reflect mining depletion from March 1, 2017 to December 31, 2017, during which time 110,000 ounces of gold were produced. The mineralisation wireframes used within the updated estimate are based on the results of the 2017 drilling campaign received subsequent to the information cut-off date for the previous estimation undertaken on February 28, 2017.The Company plans to release a further Mineral Resource and Mineral Reserve update for Youga and its satellite deposits upon the conclusion of the on-going 139,000 metre drilling programme focussed across its Burkina Faso licence portfolio during 2018. As a part of this, a 20,000 metre infill drilling campaign has recently commenced on the Ouaré deposit with the aim of upgrading a portion of the 406koz of gold in the Inferred Mineral Resource category into a higher level of confidence and subsequently into Mineral Reserves.The Company also recently completed a 13,000 metre diamond drilling programme that targeted the prospects of Panga and Cobra Hill, located a short distance along strike from the Balogo deposit. Following a review of the first phase of drilling a decision has been taken to undertake a second phase of drilling in Q3 2018 exploring further along strike to follow up on prospects identified during the 2017 drilling campaign with the aim of further delineating the strike extent of the mineralisation.Additional drilling underneath the main Balogo pit will also be undertaken in H2 2018 targeting the down dip extension of mineralisation at the main Balogo pit where mineralisation has already been defined to depths of 140 metres below the existing planned pit floor. This down dip drilling programme has the potential to further increase the mine life of the Balogo deposit and also aims to define an underground Mineral Resource at Balogo. | |
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