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Endeavour Mining Corp.
Summary
| Project: | Fetekro | |
|---|---|---|
| Deposit: | Lafigue | |
| Location: | Cote D'Ivoire | |
| Commodities: | Gold | |
| Date: | 9/3/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-9-2019: Endeavour Mining Corp. announces a Resource Estimation report for its Lafigue deposit at the Fetekro project. Resource update plus new drill results incl. 32.5m @ 13.38g/t Au. Abidjan, September 3, 2019 – Endeavour Mining (TSX:EDV)(OTCQX:EDVMF) | |
| Resources: | (Resource): 14.6Mt @ 2.54g/t Au (Ind.) and 0.9Mt @ 2.17g/t Au (Inf.) | |
| CP/QP: | [Resources]: Kevin Harris (Internal) | |
| ABSTRACT: | Abidjan, September 3, 2019 – Endeavour Mining (TSX:EDV)(OTCQX:EDVMF) is pleased to announce that it has increased Indicated resources for the Ivorian Fetekro greenfield exploration property by 141% to 1.2Moz, boosting confidence in its ability to achieve its objective of discovering a standalone project through exploration. Sébastien de Montessus, President and CEO stated: “We are excited at the value we have created through exploration as we have effectively deployed circa $10 million to generate a resource in excess of one million ounces of gold at an attractive grade of over 2.5 g/t. Fetekro’s resource scale has reached an important milestone as it is now similar in size and grade to that of our Agbaou mine when it started production in 2014. We are therefore eager to advance our exploration efforts to continue to grow the resource base while initiating various environmental and technical studies. From a broader perspective, while our immediate focus is on cash flow generation, we are very excited with the internal growth optionality being generated in parallel through our exploration success as it leaves us well poised for future growth.” Endeavour began exploration on the Fetekro property in March 2017, following a strategic assessment of its exploration tenements which ranked the property as a top priority target. The majority of drilling to-date has focused on the Lafigué target where a maiden resource was published on October 29, 2018, based on 32,000 meters drilled. Since then approximately 35,000 meters have been drilled to infill and extend the Lafigué deposit, which led to a 0.7Moz increase in Indicated resources while increasing the average grade by 13% to 2.54 g/t Au, as presented in Table 1 below. The Lafigué resource estimate now encompasses a mineralized area extending 2.2 km long by 0.6 km wide which remains open at depth and towards the southeast. At least 30,000 meters of additional drilling is scheduled to begin in Q4-2019 with an updated resource expected to be published in Q2-2020. | |
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