Perseus Mining Limited (ASX/TSX: PRU) has completed a Feasibility Study on the Nkosuo Project, located approximately seven kilometres north-northwest of its Edikan Gold Mine in Ghana, adding substantial Mineral Resources and Ore Reserves to Edikan’s previously published inventory.
Highlights
• Indicated Mineral Resources1 at Nkosuo amount to 14.5Mt at 0.91g/t for 422,000 ounces of contained gold, and Inferred Mineral Resources are estimated at 0.95 million tonnes grading 0.90 g/t gold containing 27,000 ounces of gold at June 30, 2022.
• Probable Ore Reserves1 total 10 million tonnes of ore grading 1.04g/t gold and containing 332,000 ounces of gold.
• Planned processing of the Nkosuo Ore Reserves in the Edikan mill is expected to increase the life of the Edikan operation by 18 to 24 months, extending the mine life to FY2027.
“The addition of Mineral Resources and Ore Reserves from the Nkosuo Project adds significantly to the mine life at Edikan Gold Mine, ensuring operations can continue while Perseus conducts further exploration on the recently acquired Agyakusu Exploration Permit and two other adjoining Exploration Permits that are under option to Perseus,” Managing Director and CEO Jeff Quartermaine said.
“We believe that the discovery of additional Ore Reserves in trucking distance of existing infrastructure is the most cost effective means available to Perseus of creating value for shareholders.
“With this objective, further exploration on the nearby tenements will be well funded by Perseus and we are optimistic of discovering further deposits of a similar scale to Nkosuo that will further add to the mine life of the Edikan operation.”
Project Overview
Nkosuo is located in Ghana, West Africa, approximately 40 kilometres southwest of the regional town of Obuasi, 200 kilometres west-northwest of the capital Accra and seven kilometres to the north-northwest of Perseus’s Edikan Gold Mine near the town of Ayanfuri.
A Feasibility Study has been completed on the development of mineralisation discovered by Perseus at Nkosuo resulting in the estimation of an Ore Reserve of 332,000 ounces (contained) producing 272,000 ounces (recovered) over three years of mining.
All in site costs (AISCs) are expected to be in the range of US$870-US$890 per ounce for Nkosuo. The area of the Nkosuo Project is underlain principally by Paleoproterozoic Birimian flysch-type metasediments consisting of dacitic volcaniclastics, greywackes plus argillaceous (phyllitic) sediments, intensely folded, faulted and metamorphosed to upper greenschist facies.
Numerous small “Basin-type” or “Cape Coast-type” granite bodies have intruded the sediments along several regional structures. The Nkosuo Project comprises mineralisation hosted by a single north-northeast striking granitoid body measuring at least 600 metres along strike, typically 250 metres horizontal width and dipping approximately 75 degrees toward west-northwest.
Nkosuo will be mined in a single open pit, with a waste dump located to the west of the pit. Ore from the pit will be trucked on a dedicated haul road to the Edikan processing plant for co-processing with ores from existing Edikan open pits and stockpiles.
For further information please visit: https://perseusmining.com/
