- Indicated resource for the Lafigué deposit has grown by 108% to 2.5Moz at 2.40 g/t Au
- Potential to be Endeavour's highest grade operation with +2.0Moz at grades above 3.50 g/t Au based on a higher cut-off grade of 1.5 g/t Au
- Very low discovery cost of $7.50 per Indicated resource ounce
- Significant exploration potential remains as the Lafigué deposit is open at depth and along strike and over a dozen nearby targets have been identified
ENDEAVOUR ANNOUNCES FETEKRO INDICATED RESOURCE MORE THAN DOUBLES TO 2.5 MILLION OUNCES
1.3Moz Indicated resources added · $7.50/oz discovery cost · Updated PEA due Q4-2020
FETEKRO PROJECT HIGHLIGHTS:
- Indicated resource for the Lafigué deposit has grown by 108% to 2.5Moz at 2.40 g/t Au, based on 0.5g/t cut-off grade
- Potential to be Endeavour's highest grade operation with +2.0Moz at grades above 3.50 g/t Au based on a higher cut-off grade of 1.5 g/t Au
- As 97% of the total resource is classified in the Indicated category, no further drilling is required to classify it to reserve status
- Very low discovery cost of $7.50 per Indicated resource ounce
- Significant exploration potential remains as the Lafigué deposit is open at depth and along strike and over a dozen nearby targets have been identified
- 20,000 meters of additional drilling will be initiated in Q4-2020 with the goal of testing Lafigué remaining extensions and nearby targets
- Metallurgical testwork indicates gold recovery >95%, with a significant portion recoverable by gravity
- An initial PEA based on the previously announced 1.2Moz Indicated resource already demonstrates robust project economics including a pre-tax NPV5% of $372m and an IRR of 37% at a $1,500/oz gold price with life of mine AISC of $697/oz
- An updated PEA based on the new 2.5Moz Indicated resource is due in Q4-2020
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