Perseus Extends Lifetime of Yaoure Gold Mine to 2035 – TipRanks Monetary Weblog

Perth, Sept. 18, 2023 (GLOBE NEWSWIRE) — PERSEUS EXTENDS LIFE OF YAOURÉ GOLD MINE TO 2035

Perth, Western Australia/September 18, 2023/Perseus Mining Restricted (ASX/TSX: PRU) is happy to announce an up to date Lifetime of Mine Plan (“LOMP”) for its Yaouré Gold Mine in Côte d’Ivoire, West Africa (“Yaouré”).

HIGHLIGHTS

• Perseus has prolonged Yaouré’s operational existence to twelve+ years (to a minimum of 2035), with possible for additional extension thru further discoveries adjoining to current infrastructure and extra useful resource definition drilling of recognized deposits, together with the Yaouré open pit and CMA underground (“CMA UG”) construction.
• Yaouré’s up to date LOMP comprises for the primary time an UG mining operation under the CMA Open Pit, in addition to the prevailing CMA Open Pit and an expanded Yaouré Open Pit.
• Yaouré Gold Mine Ore Reserves^1,2 now general 37.2 million tonnes of ore grading 1.73 g/t gold, containing 2.07 million oz. of gold from open pits and underground.
• Up to date Measured and Indicated Mineral Sources¹ are estimated at 54.7 million tonnes grading 1.59 g/t gold, containing 2.80 million oz. of gold. Inferred Sources¹ are estimated at 11.3 million tonnes, grading 1.9 g/t gold, containing 0.70 million oz. of gold.
• CMA UG Ore Reserves are in line with drilling to 185m under the bottom of the CMA open pit, with Inferred Mineral Sources extending to 350m under the bottom of the pit and ultimate open down plunge and at intensity.
• Key parameters coming up from the revised LOMP for Yaouré Gold Mine are as follows:

Notes:

1. For detailed disclosures on up to date Mineral Sources and Ore Reserves estimates seek advice from ASX Unlock “Perseus Mining Declares Open Pit and Underground Ore Reserve Enlargement at Yaouré”, dated 23 August 2023. Mineral Sources are inclusive of Ore Reserves.
2. Assumes gold value of US$1,500 /oz. for Reserve calculation in September 2023 LOMP.
3. Assumes a flat gold value of US$1,700 /oz. for royalty calculation in September 2023 LOMP.
4. CMA UG Mining in September 2023 LOMP leads to FY34 therefore moderate is calculated over 5 years FY30 to FY34.
5. All CMA UG Mining prices are capitalised in keeping with IFRS as much as declaration of Business Manufacturing in H2 FY27.

Perseus’s Managing Director and CEO Jeff Quartermaine stated:

“Our build up to the lifetime of Yaouré Gold Mine to twelve+ years announced nowadays guarantees Yaouré will proceed to be crucial a part of Perseus’s geopolitically numerous asset portfolio for many future years and can permit us to proceed turning in on our Company Undertaking of producing subject material advantages for all of our stakeholders, together with our host governments and communities.

When Perseus obtained Yaouré as a construction undertaking in 2016, the potential of extending the lifetime of the mine thru construction of an underground operation used to be now not a part of the plan. On the other hand, our discovery, and next engineering and making plans, that has ended in nowadays’s announcement, bears testomony to Perseus’s in-house skill to create vital price thru natural expansion.

An underground mine deliberate for Yaouré, can be Perseus’s first foray into underground mining, with all earlier operations having been open minimize operations. While the underground mine represents a brand new taste of mining and a brand new problem for us as an organization, it’s by no means new to a lot of our technical workforce individuals, who’re very prepared to display their abilities in an underground mining environment.

With the possibility of additional extending the mine existence thru additional exploration luck, we predict that the Yaouré Mine will reside as much as its popularity as one of the crucial main mines in Côte d’Ivoire, if now not in all of West Africa.”

Competent Individual Commentary:

All manufacturing goals referred to on this document are underpinned by means of estimated Ore Reserves that have been ready by means of competent individuals in keeping with the necessities of the JORC Code.

The present Mineral Sources and Ore Reserves for the Yaouré Gold Mine have maximum not too long ago been reported by means of the Corporate in a marketplace announcement launched on 23 August 2023. The Corporate confirms that every one subject material assumptions underpinning the ones estimates and the manufacturing goals, or the forecast monetary knowledge derived therefrom, in that marketplace unlock proceed to use and feature now not materially modified. The Corporate additional confirms that subject material assumptions underpinning the estimates of Ore Reserves described in “Technical Document — Yaouré Gold Mission, Côte d’Ivoire” dated 18 December 2017 proceed to use.

Warning Relating to Ahead Taking a look Data:

This document accommodates forward-looking knowledge which is in line with the assumptions, estimates, research and reviews of control made in mild of its revel in and its belief of tendencies, present stipulations and anticipated tendencies, in addition to different components that control of the Corporate believes to be related and affordable within the cases on the date that such statements are made, however which might end up to be flawed. Assumptions were made by means of the Corporate relating to, amongst different issues: the cost of gold, proceeding industrial manufacturing on the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine with none main disruption, the receipt of required governmental approvals, the accuracy of capital and working value estimates, the facility of the Corporate to perform in a secure, environment friendly and efficient method and the facility of the Corporate to procure financing as and when required and on affordable phrases. Readers are cautioned that the foregoing record isn’t exhaustive of all components and assumptions which will have been utilized by the Corporate. Even supposing control believes that the assumptions made by means of the Corporate and the expectancies represented by means of such knowledge are affordable, there may also be no assurance that the forward-looking knowledge will end up to be correct. Ahead-looking knowledge comes to recognized and unknown dangers, uncertainties, and different components which might purpose the true effects, efficiency or achievements of the Corporate to be materially other from any expected long term effects, efficiency or achievements expressed or implied by means of such forward-looking knowledge. Such components come with, amongst others, the true marketplace value of gold, the true result of present exploration, the true result of long term exploration, adjustments in undertaking parameters as plans proceed to be evaluated, in addition to the ones components disclosed within the Corporate’s publicly filed paperwork. The Corporate believes that the assumptions and expectancies mirrored within the forward-looking knowledge are affordable. Assumptions were made relating to, amongst different issues, the Corporate’s skill to hold on its exploration and construction actions, the well timed receipt of required approvals, the cost of gold, the facility of the Corporate to perform in a secure, environment friendly and efficient method and the facility of the Corporate to procure financing as and when required and on affordable phrases. Readers must now not position undue reliance on forward-looking knowledge. Perseus does now not adopt to replace any forward-looking knowledge, excluding in keeping with appropriate securities rules.

• 180923 TSX Yaoure Up to date LOMP – Ultimate