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Endeavour Mining Corp.
Summary
| Project: | Hounde | |
|---|---|---|
| Deposit: | Hounde | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 11/25/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 25-11-2019: Endeavour Mining Corp. announces a Resource Estimation report for its Hounde deposit at the Hounde project. Updated mineral resource estimate. Abidjan, November 25, 2019 – Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce a 1.0Mo | |
| Resources: | (Resource, M+I): 64.1Mt @ 2.01g/t Au at Hounde | |
| CP/QP: | [Resources]: Helen Oliver (Internal) | |
| ABSTRACT: | Abidjan, November 25, 2019 – Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce a 1.0Moz Indicated maiden resource for the previously announced Kari West and Kari Center discoveries at its Houndé mine in Burkina Faso. As a result, Houndé’s M&I resources have increased by 32% from 3.1Moz (44.7Mt at 2.18 g/t Au) to 4.1Moz (64.1Mt at 2.01 g/t Au), excluding 2019 depletion. This resource increase is in addition to the Kari Pump 1.0Moz Indicated maiden resource (see press release dated November 15, 2018) increasing the total discoveries for the Kari anomaly to 2.0Moz of Indicated resource, as shown in Figure 1 below. The Kari anomaly is located 7km away from the Houndé processing plant, extending over a large area measuring 6km long and 3km wide. Approximately 25% of the target is still to be drilled. Sébastien de Montessus, President and CEO, stated: “We are delighted to announce this substantial maiden resource for the Kari West and Kari Center discoveries and we look forward to publishing maiden reserves in the first quarter of next year, allowing us to further extend the mine life of Houndé. The resources at Kari West and Kari Centre were both discovered at an industry-leading low cost of $15/oz, underscoring why investment in exploration continues to be a key strategic priority for Endeavour as we build a sustainable business and deliver long-term value for our shareholders.” Patrick Bouisset, Executive Vice President Exploration and Growth, stated: “We are very pleased with the maiden resource delineated at Kari West and Kari Center, which has exceeded our expectations. As part of our strategic exploration plan, we were initially targeting a minimum of 500,000 ounces at over 2.5 g/t Au, which ultimately became 590Koz at 2.55 g/t Au based on a 1.5 g/t Au cut-off for Kari West. Due to a low strip ratio of roughly 6:1, we were able to delineate more ounces, increasing the total for Kari West and Kari Center to 1.0 million ounces at a grade of 1.61 g/t based on a cut-off grade of 0.5 g/t Au.” | |
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