Endeavour makes major gold discovery in Ivory Coast with initial resources of 3Moz
(Kitco News) - Senior gold producer Endeavour Mining (TSX: EDV) announced today that a major discovery has been made at its 100%-owned Tanda-Iguela greenfield exploration property in Ivory Coast.
In its statement, the company said that major maiden resources have been outlined in under 15 months on the Assafou target, including indicated resources of 14.9Mt at 2.33 g/t for 1.1Moz and inferred resources of 32.9Mt at 1.80 g/t for 1.9Moz, for a total of 3Moz.
Endeavour also noted low discovery cost of under $10 per indicated ounce discovered, adding that significant potential exists to further expand Assafou as its indicated resources only cover ~20% of the 3 km long identified mineralised system which is open along strike and at depth.
According to a news release, the Tanda-Iguela property has the potential to be another flagship asset for Endeavour, given the size of the maiden resource and its significant exploration potential as 10 additional nearby targets have been identified.
President and CEO Sébastien de Montessus commented, “We are thrilled with the maiden resource at our Tanda-Iguela greenfield property in Côte d’Ivoire. It ranks as one of the most significant discoveries made in West Africa over the last decade and shows potential to be another flagship asset for the company.
“This discovery builds on our recent success discovering the Lafigué project, where construction was recently launched, and reinforces our ability to organically source our project pipeline through ongoing exploration success. Additionally, this discovery showcases West Africa’s geological potential, which is a key reason behind its rapid growth into the largest gold producing region globally. As the largest gold producer in West Africa, we have developed a strong competitive advantage in the region, strategically positioning us to continue to unlock value over the long term.”
He also pointed out that with this new important discovery and exploration success across Endeavour’s portfolio, the company is well on track to achieve its target of discovering between 15 to 20 million ounces for the 5-year period ending in 2025.
Endeavour Mining is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Ivory Coast and Burkina Faso and a portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.