TSX-listed Endeavour Mining has announced a significant maiden resource estimate for the previously announced Kari Pump discovery at its flagship Houndé mine in Burkina Faso. The resource comprises an indicated resource of 11,3 Mt at 2,71 g/t Au for 987 koz and an inferred resource of 0,2 Mt at 2,21 g/t Au for 20 koz.
Kari Pump, located only 7 km west of the 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 has been drilled over the past 18 months, covering only 35 % of the anomaly, with drill results previously announced in November 2017 and May 2018.
Since May 2018, 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 Centre 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 resource covers an area 1,3 km long by 0 8 km wide and remains open towards the east, north, north-west and south-west. Due to the intensive in-fill drill programme completed, 98 % of the 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.
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 Centre discoveries, in addition to testing other nearby targets.
“The maiden resource announced today at Kari Pump is extremely encouraging,” comments Sébastien de Montessus, President and CEO of Endeavour. “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.
“I would like to congratulate our Houndé Exploration team for its commitment, enthusiasm and professionalism and to thank them for their efforts which are bearing fruit today. 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.”
Adds Patrick Bouisset, Executive Vice-President Exploration and Growth: “We are very pleased with the maiden resource at Kari Pump as it confirms the high potential we see at Houndé. With over 200 000 m drilled, processed and analysed in less than 18 months over the Kari area, our team has proven the ability to deliver quickly on high-priority targets.
“Looking ahead, we are excited by the upside potential in the wider Kari area and the other regional targets. As such we have 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 our five-year strategic exploration plan in late 2016, demonstrates that we remain on track to reach our ambitious discovery target set at a discovery cost lower than US$20/oz.”
Photo courtesy of Endeavour
The Kari area is located only 7 km west of the Houndé processing plant (seen here).