Modern Mining September 2019

Endeavour Mining grows the Fetekro resource base

Drill results encourage Golden Rim West African gold explorer, ASX-listed Golden Rim Resources, has reported further significant gold intersections from its current RC drill- ing programme at its Kouri gold project in Burkina Faso. Commenting on the new results, Golden Rim’s MD, Craig Mackay, said: “We are successfully heading toward our next aim of being a com- pany with over 2 Moz of gold in mineral resources. At Kouri we continue to locate more gold mineralisation around the 1,4 Moz mineral resource and our latest drilling results highlight two areas. “Our first drilling in the newly acquired Gouéli Permit has confirmed the gold lodes that comprise the mineral resource directly extend for a further 100 m to the north-east. These lodes remain open along strike and our mapping and satellite imagery suggest that they extend for an additional 400 m before heading under shallow soil cover. “We have also discovered high-grade gold mineralisation approxi- mately 500 m north-west of the mineral resource, associated with a 4 km long IP geophysical anomaly which remains largely untested. “Follow-up drilling in both of these areas is expected to commence in a few weeks, after the end of the rainy season.”  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 for which a maiden resource was published in October 2018, based on 32 000 m drilled. Since then approximately 35 000 m have been drilled to infill and extend the Lafigué deposit, which led to a 0,7 Moz increase in indicated resources while increasing the average grade by 13 % to 2,54 g/t Au. The Lafigué resource estimate now encompasses a mineralised area extending 2,2 km long by 0,6 km wide which remains open at depth and towards the south-east. At least 30 000 m of additional drilling is scheduled to begin in Q4-2019 with an updated resource expected to be published in Q2-2020. Fetekro is located in north-central Côte d’Ivoire, approximately 500 km from Abidjan, within the northern end of the Oumé-Fetekro greenstone belt.  TSX-listed Endeavour Mining has increased indicated resources for the Ivorian Fetekro greenfield exploration property by 141 % to 1,2 Moz, boosting confidence in its ability to achieve its objective of discovering a standalone project through exploration. Sébastien de Montessus, President and CEO of Endeavour, stated: “We are excited at the value we have created through exploration as we have effectively deployed circa US$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 initiat- ing 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.”

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