Perseus “encouraged” by drilling aimed at life of mine extension at Edikan

PERSEUS Mining declared itself “encouraged” by a drilling programme which has raised the prospect that the life of its Edikan mine in Ghana could be extended beyond the current estimate of six years.

The company has been drilling the Esuajah Gap which sits between Esuajah South and Esuajah North, the latter of which is being mined. Perseus said in an announcement today that Esuajah Gap could be mined jointly with the unmined Esuajah South prospect.

“The proximity of the Esuajah Gap discovery to the Esuajah South ore body, that contains 391,000 ounces of gold in open pit proved and probable reserves that are not part of Edikan’s current life of mine plan, opens up the possibility of a future joint development of the two deposits and a material extension to the life of mine,” said Jeff Quartermaine, MD of Perseus Mining.

“We have become increasingly encouraged by the results from our recent Edikan exploration programme that has been aimed at extending the current six year mine life at Edikan,” he added.

Perseus Mining is gaining significant traction operating in West Africa’s goldfields. In October, it said it would press ahead with a finance plan for its Yaouré gold project in Côte d’Ivoire, the capital cost of which has been confirmed at $264m.

Yaouré will be Perseus’ third gold mine following the development of Sissingué, also in Côte d’Ivoire, and Edikan. It also said in October that life of mine ore reserves at Sissingué, had increased 9% to 380,000 ounces of gold as of August 31 compared to ore reserves on June 30 following exploration work.