The Tanda-Iguela property is located in the Eastern part of Côte d’Ivoire within the Boundounkou Birimian greenstone belt, approximately 400 kilometres to the Northeast of Abidjan and 30 kilometres from the border with Ghana
Endeavour Makes Major Greenfield Discovery in Côte d'Ivoire. (Credit: Alex Banner from Pixabay)
Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour”, the “Group” or the “Company”) is pleased to announce that a major discovery has been made at its 100%-owned Tanda-Iguela greenfield exploration property in Côte d’Ivoire. The Tanda-Iguela property has the potential to be another flagship asset for Endeavour, given the size of the maiden resource and its significant exploration potential as 10 additional nearby targets have been identified.
Following highly encouraging initial results obtained in 2021, an intensive drilling programme conducted in 2022 resulted in the rapid delineation of a maiden resource estimate for the Assafou target.
Mineral Resource Estimate current as at 31 October 2022. No Measured resources have been estimated. Mineral Resources estimates follow the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) definitions standards for mineral resources and have been completed in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101. Reported tonnage and grade figures have been rounded from raw estimates to reflect the relative accuracy of the estimate. Minor variations may occur during the addition of rounded numbers. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Resources were constrained by $1,500/oz gold price MII Pit Shell and based on a cut-off of 0.5 g/t Au.
Significant exploration potential exists at the Assafou deposit since it is open along strike in both directions and at depth. The delineated Indicated resource encompasses only 20% of the identified mineralised system which covers an area three kilometres long by 350 metres wide. As such, an aggressive exploration drilling campaign is scheduled to begin in 2023, with an additional 50,000 metres expected to be conducted on the Assafou deposit, compared to the 58,000 metres of drilling, which formed the basis of the maiden resource calculation. In addition, a drilling programme of 20,000 metres is planned to test the additional nearby targets identified to date. These efforts are expected to yield an updated resource estimate in 2023 and increase the overall geological understanding of the area.
Sébastien de Montessus, President and CEO commented: “We are thrilled with the maiden resource at our Tanda-Iguela greenfield property in Côte d’Ivoire. It ranks as one of the most significant discoveries made in West Africa over the last decade and shows potential to be another flagship asset for the company.
This discovery builds on our recent success discovering the Lafigué project, where construction was recently launched, and reinforces our ability to organically source our project pipeline through ongoing exploration success. Additionally, this discovery showcases West Africa’s geological potential, which is a key reason behind its rapid growth into the largest gold producing region globally. As the largest gold producer in West Africa, we have developed a strong competitive advantage in the region, strategically positioning us to continue to unlock value over the long term.
With this new important discovery and exploration success across our portfolio, we are well on track to achieve our target of discovering between 15 to 20 million ounces for the 5-year period ending in 2025.”
Source: Company Press Release