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Endeavour Mining Corp.
Summary
| Project: | Hounde | |
|---|---|---|
| Deposit: | Hounde | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 4/28/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 28-4-2020: Endeavour Mining Corp. announces a Resource Estimation report for its Hounde deposit at the Hounde project. Updated mineral resource estimate. Endeavour’s equity interest in the Houndé Gold Mine is held through a wholly owned subsidiary Houndé | |
| Resources: | (Reserves, P+P): 32.6Mt @ 2.06g/t Au | |
| CP/QP: | [Resources]: Kevin Harris, Mark Zammit, (Internal;Cube Consulting Pty Ltd.) | |
| ABSTRACT: | Endeavour’s equity interest in the Houndé Gold Mine is held through a wholly owned subsidiary Houndé Holdings Limited (“HHL”) which in turn has a 90% equity interest (balance of 10% held by the Government of Burkina Faso – “GoBF”) in two separate operating companies, Houndé Gold Operations SA (“HGO”) and Bouéré Dohoun Gold Operation SA (“BDGO”). The mineral assets situated in the south-western region of Burkina Faso and held by these companies comprise: The Houndé Exploitation permit was granted to HGO on February 5, 2015 covering 23.20km2 and is valid until February 5, 2035 and may be renewed for consecutive five-year periods until deposits are depleted. The nearby Bouéré Dohoun exploitation permit was granted to Bouéré Dohoun Gold Operation SA (“BDGO”) on January 23, 2017 covering 5.37km2 and is valid until January 23, 2022. It may be renewed for consecutive five-year periods until deposits are depleted. BDGO has the same ownership as HGO - held 90% by Endeavour and 10% by the Government of Burkina Faso. A royalty on both exploitation permits is owed to the Government of Burkina Faso based on a 3% to 5% sliding scale linked to prevailing gold prices. There is also a 2% NSR royalty in favour of Barrick. | |
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