Through the consolidation, Endeavour Mining has significantly increased its holdings in the Ity district from 178 km² to 664 km².
The new Floleu (104 km²) and Toulepleu (382 km²) exploration tenements were obtained on a 100% ownership basis, while the previously 55%-held Tiepleu tenement (153 km²) was re-obtained on a 100% basis.
[quote]Endeavour believes that these large tenements, which have similar geology to the Ity area, hold very promising exploration targets.
Patrick Bouisset, executive vice-president exploration and growth of Endeavour, comments: “We are extremely pleased to have secured what we consider to be one of West-Africa’s most under-explored areas in the Birimian belts.”
“We believe that the exploration success at the Ity mine, which has grown to be nearly a 5 Moz endowment, is a good indication of the potential to find more skarn or shear-zone type multi-million ounce deposits along the same trend.”
“These new tenements will form an integral part of our long-term exploration strategy, which is expected to be announced in the fourth quarter of 2016.”