Endeavour Mining has confirmed the continuity of its previously inferred resource, leading to a maiden indication of 314,000oz in the North Kao deposit at its Karma Gold Mine in Burkina Faso following an infill drilling programme.
This maiden indicated resource of 314,000oz is amenable to heap leaching and a subsequent conversion of 262,000oz to reserves.
The North Kao deposit is within 10km of the current processing plant. The main mineralised zone is more than 1.4km long along strike and remains open to the north.
Endeavour Mining president and CEO Sébastien de Montessus said: “When we acquired Karma last year, we were confident in its exploration potential and our ability to quickly extend its mine-life.
“Following the conversion of resources at North Kao to reserves, Karma now meets our strategic portfolio criteria of having a minimum life of ten years and ability to produce at an AISC below $850/oz.
“Looking ahead, our 2017 programme will focus on the Rambo West and Yabonsgo near-mill targets, which we believe could further improve the mine’s outlook.”
Last year, the company completed an infill drilling programme at the site to upgrade existing inferred resources to the indicated category.
This programme included 68 core holes (7,571m) and 488 reverse circulation holes (39,554m).
Most mineralisation is hosted by the Kao Intrusion, a 2.5km-long and 1.6km-wide pluton of felsic composition with local porphyritic facies and centimetric aplitic veins.
A small portion of mineralisation has been found in the clastic sediments close to the contact of the intrusion.
After this successful exploration campaign, the company now intends to focus on near-mill targets, which include Rambo West and Yabonsgo.
A West-Africa focused multi-operation gold mining company, Endeavour Mining operates five mines in Côte d’Ivoire (Agbaou and Ity), Burkina Faso (Karma), Mali (Tabakoto) and Ghana (Nzema).