Edikan Gold Mine in Ghana produces exploration success results

Edikan Gold Mine in Ghana produces exploration success results

Perseus Mining has issued details of exploration success at its Edikan Gold Mine in Ghana during the December 2021 quarter.

According to the firm, the results continue to confirm the outstanding potential to grow its gold inventory at Edikan through further drilling success. Perseus secured an option to acquire the 23.85km2 Agyakusu prospecting licence, currently held by Ghanaian company Adio-Mabas Ghana Ltd, in November 2019.

Perseus subsequently conducted soil sampling and airborne geophysical surveys whilst negotiating access from farmers to drill the granite-hosted Nkosuo gold prospect. Perseus achieved access in June 2021, with drilling continuing uninterrupted since that date.

Perseus commenced exploration drilling at the Nkosuo prospect on the Agyakusu permit on 1 July 2021, with the first highly encouraging results being reported in our ASX release dated 13 October 2021. Since that date, Perseus had drilled a further 13,008 metres in 36 Reverse Circulation (“RC”), 5 diamond (“DD”) holes and 46 RC pre-collared diamond holes (“RD”).

Drilling has been conducted on a nominal 80 x 80 metre grid to scope out the extent and overall geometry of the host granite and contained mineralisation, partially infilled to 40 x 40 metres and locally to 40 x 20 metres. Results have continued to provide strong support for the presence of a shallow open-pitable gold resource within trucking distance of the Edikan mill.

Quantity and grade

Mineralisation at Nkosuo is hosted by a NNE-trending granitic plug extending at least 1,200 metres in strike, with widths ranging from around 120 metres in the northern part to up to 160 metres in the southern part. The northern part of the intrusive body is dislocated by a roughly NW-SE fault that offsets the northern 400 metres of the body ~160 metres to the northwest.

The strongest mineralisation is focused in the offset northern part of the intrusion and the northern central section of the southern part of the intrusion, gradually waning to the southwest. The granite body dips at around 700 to the west in the northern part of the intrusion, steepening to near vertical towards the south.

Mineralisation within the granite consists of variably intense quartz stockwork veining with associated quartz-carbonate-sericite alteration. The veining and alteration are accompanied by 1-2% disseminated and selvage pyrite and arsenopyrite, with better gold grades generally associated with higher concentrations of arsenopyrite. The granite remains open to the south, with indications from surface workings that mineralisation may strengthen within the southern apex of the intrusion, analogous to the situation in the northern apex. Drilling to test this hypothesis is planned for the coming quarter.

Overall, the Nkosuo mineralisation bears strong similarities in style and scale to the western granite-hosted deposits at Edikan such as Fobinso and Abnabna. Results available to date from the Nkosuo drilling confirm the previously declared potential for an Exploration Target of 10 to 15 Mt grading 0.9 to 1.1 g/t gold for 275 to 500koz contained gold (ASX release dated 13 October 2021). Current indications are that the bulk of this resource will be at depths shallower than 150 metres.

The Exploration Target is conceptual in nature and takes no account of geological complexity, possible mining method or metallurgical recovery factors. The Exploration Target was estimated to enable an early assessment of the discovery’s potential to add to Edikan’s mine life

The potential quantity and grade of the Exploration Target is conceptual in nature and therefore is an approximation. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code and NI 43-101.



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