TSX-listed Endeavour Mining has increased its Indicated Resources at its Fetekro gold project by 141% to 1.2Moz.
Côte d’Ivoire – The announcement has boosted Endeavour’s confidence in its ability to achieve its objective of discovering a standalone project through exploration.
Endeavour’ president and CEO Sébastien de Montessus stated: “We are excited at the value we have created through exploration as we have effectively deployed about $10 million to generate a resource in excess of 1Moz 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 initiating various environmental and technical studies. 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.”
Fetekro is located in north-central Côte d’Ivoire, approximately 500 km from Abidjan, within the northern-end of the Oumé-Fetekro greenstone belt.
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 where a maiden resource was published last October, 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 0.7Moz increase in Indicated Resources while increasing the average grade by 13% to 2.54 g/t Au.
The Lafigué resource estimate now encompasses a mineralized area extending 2.2 km long by 0.6 km wide which remains open at depth and towards the southeast. At least 30 000 m of additional drilling is scheduled to begin later this year with an updated resource expected to be published in Q2 2020.