TSX-listed West African gold producer Endeavour Mining has declared a high-grade 1 Moz indicated resource at the Kari Pump target within the Houndé gold project in Burkina Faso.
Burkina Faso – Kari Pump, located only 7 km west of Endeavour Mining’s Houndé 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 203 900 m have been drilled over the past 18 months, covering only 35% of the anomaly, with drill results previously announced in May and November 2018.
Since May, 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 successful delineation of a maiden resource.
In addition, over 20 000 m were drilled on the Kari Center and Kari West discoveries, for which a maiden resource is expected to be delineated in 2019.
The Kari Pump maiden resource estimate has increased Houndé’s measured and indicated resources by 40%, while adding high-grade material.
The Kari Pump maiden resource covers an area 1.3 km long by 0.8 km wide and remains open towards the east, north, northwest and southwest.
Due to the intensive in-fill drill programme completed, 98% of maiden resource has been classified to the indicated category. As the mineralisation starts at surface, it is amenable to open pit mining.
In addition, 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.
Latest work programme planned
Another aggressive 200 000 m drill programme is expected to start before year-end focused on extending the mineralisation of Kari Pump and delineating a maiden resource for both the Kari West and Kari Center discoveries, in addition to testing other nearby targets.
“The maiden resource at Kari Pump is extremely encouraging. The size and high-grade nature of the resource confirms 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,” says Endeavour Mining president and CEO Sébastien de Montessus, adding that it is impressive to delineate a maiden resource with more than 98% classified in the indicated category and at a discovery cost of just US$9/oz.”
“The maiden resource at Kari Pump confirms the high potential we see at Houndé. With over 200 000 m drilled, processed and analyzed in less than 18 months over the Kari area, our team has proven the ability to deliver quickly on high-priority targets,” says Endeavour Mining executive vice-president for exploration and growth Patrick Bouisset.
Looking ahead, Endeavour Mining is excited by the upside potential in the wider Kari area and the other regional targets. As such, the company has 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 implementation of the company’s five-year strategic exploration plan in late 2016, demonstrates that it remains on track to reach its ambitious discovery target set at a discovery cost lower than $20/oz, says Bouisset.