AMN - COTE D’IVOIRE: Significant gold results from Papara

Exploration drilling at the Papara prospect of Perseus Mining’s Sissingué Gold Project in Côte d’Ivoire has returned significant results, including 11.18 metres from 135.82 metres at 4.36 g/t gold and 46 metres from 109 metres at 1.11 g/t.

Papara is approximately 20 kilometres north-northwest of Sissingué Mine on the company’s mining permit in the country’s north.

Development of Sissingué is on target for first gold to be poured in the March 2018 quarter when it will become the company’s second operating gold mine.

Perseus says significant initial reverse circulation (RC) and diamond drilling results have been returned to date.

The 11.8-metre intersection included 1 metre at 24.7 g/t and the 46-metre intersection included 14 metres at 2.37 g/t, which in turn included 1 metre at 13.3 g/t.

Other strong results were: 15m at 1.66g/t from 30m; 10m at 1.07g/t from 30m; 20.1m at 1.02 g/t from 20.9m and 20m at 1.23 g/t from 66m; 3m at 3g/t from 45m,12.7m at 1.84 from 60.3m, including 1m at 9.32 g/t, and 35m at 1 g/t Au from 76m; 2m at 4.5g/t from 10m; and 1m at 10.81 g/t Au from 62m. Perseus Chief Executive Officer and Managing Director Jeff Quartermaine said, “The drilling results at Papara point to the potential for a significant additional inventory of mineable, mineralised material being discovered within trucking distance of Sissingué, the construction of which is currently 53% complete with first gold due to be poured in early 2018.

“Assay results from several holes in the current drilling program are still pending and follow-up drilling is planned once all results are received and fully assessed.

“The results from this next phase of drilling, if positive, could lead to an upgrade of the current Life of Mine Plan for Sissingué that currently generates an attractive after tax internal rate of return (IRR) of close to 30% at a gold price of US$1200 per ounce by processing ore for five years.”

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