Modern Mining December 2018

MINING News

Maiden resource declared for Kari Pump discovery

TSX-listed Endeavour Mining has announced a significant maiden resource estimate for the previously announced Kari Pump discovery at its flagship Houndé mine in Burkina Faso. The resource com- prises an indicated resource of 11,3 Mt at 2,71 g/t Au for 987 koz and an inferred resource of 0,2 Mt at 2,21 g/t Au for 20 koz. Kari Pump, located only 7 km west of the processing plant, is one of three high-grade discoveries made in the large Kari gold-in-soil anomaly which covers a 6 km long by 2,5 km wide area. A total of 203 900mhas been drilled over the past 18 months, covering only 35 % of the anom- aly, with drill results previously announced in November 2017 and May 2018. Since May 2018, efforts have focused mainly on the Kari Pump discovery, with over 71 000 m drilled to extend and in-fill its mineralisation, which has led to the suc- cessful delineation of a maiden resource. In addition, over 20 000 mwere drilled on the Kari Centre and Kari West discoveries, for which a maiden resource is expected to be delineated in 2019. The Kari Pump maiden resource esti- mate has increased Houndé’s measured and indicated resources by 40 %, while adding high-grade material. The resource covers an area 1,3 km long by 0,8 km wide and remains open towards the east, north, north-west and south-west. Due to the intensive in-fill drill programme com- pleted, 98 % of the maiden resource has been classified to the indicated category. As the mineralisation starts at surface, it is amenable to open-pit mining. In addi- tion, approximately 45 % of the indicated resource is located within the oxide and transition zones, compared to most of the Houndé indicated resource located in fresh zones.

The Kari area is located only 7 kmwest of the Houndé processing plant, which is seen here (photo: Endeavour Mining).

Another aggressive 200 000-m drill programme is expected to start before the end of 2018 focused on extending the mineralisation of Kari Pump and delineat- ing a maiden resource for both the Kari West and Kari Centre discoveries, in addi- tion to testing other nearby targets. Commenting on the maiden resource, Sébastien de Montessus, President and CEO of Endeavour, said: “The size and high-grade nature of the resource con- firms Houndé as a world-class asset with significant exploration potential to extend its status as a long-life, low-cost flagship mine within our portfolio. “I would like to congratulate our Houndé exploration team for its commit- ment, enthusiasm and professionalism and to thank them for their efforts which are bearing fruit … . It is impressive to delin- eate a maiden resource with more than 98 % classified in the indicated category and at a discovery cost of just US$9/oz.” bisected by the Sabce shear zone, a major structural fault proximal to multiple gold deposits which trends south-west/north-east and bisects the entire long axis of the prop- erty. The Sabce is the dominant feature at the 3 Moz plus Bissa deposit, currently being mined by Nordgold approximately 20 km to the north-east of the Dakouli 2 permit. Nexus has identified a large orpaillage situated on the permit’s eastern border

Added Patrick Bouisset, Executive Vice- President Exploration and Growth: “We are very pleased with the maiden resource at Kari Pump as it confirms the high potential we see at Houndé. With over 200 000 m drilled, processed and analysed in less than 18 months over the Kari area, our team has proven the ability to deliver quickly on high-priority targets. “Looking ahead, we are excited by the upside potential in the wider Kari area and the other regional targets. As such, we have launched another intensive 200 000-m drill campaign with the goal of quickly delineating more resources. “More broadly, the exploration success achieved notably at Kari Pump, Ity and Fetekro just two years since the implemen- tation of our five-year strategic exploration plan in late 2016 demonstrates that we remain on track to reach our ambitious dis- covery target set at a discovery cost lower than US$20/oz.”  The Dakouli 2 property lies immediately south of Nexus’s 178 km 2 Niangouela con- cession which has been explored over the past two years. Sampling at Niangouela returned bonanza-grade gold values, including 2 950 g/t Au, 403 g/t Au, and 49,8 g/t Au. The maiden drill programme at Niangouela returned significant high- grade intercepts, including 26,69 g/t Au over 4,85 m, including 1 m of 132 g/t Au.  which is being actively exploited by arti- sanal miners.

Nexus acquires Dakouli 2 gold concession Nexus Gold Corp, listed on the TSX-V, reports that its wholly owned subsidiary, Nexus Gold Corp Burkina SARL, has acquired the Dakouli 2 gold concession, a 198 km 2 gold exploration permit located in central Burkina Faso, approximately 100 km due north of the capital city of Ouagadougou. The Dakouli 2 property is located on the Boromo-Goren greenstone belt and is bor- dered to the north by granitic rocks. It is also

December 2018  MODERN MINING  5