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(Alliance News) - Endeavour Mining PLC said on Monday that preliminary metallurgical tests indicated high gold recovery rates above 95% at its Tanda-Iguela property in Ivory Coast.
The London-based gold producer with operating assets across West Africa said the tests demonstrated the property could be a flagship asset, as the indicated resource is at 2.33 grams of gold per tonne
The site has significant exploration potential, Endeavour said, after it also identified 10 nearby prospective targets.
Endeavour Mining said it plans a 70,000 metre drilling programme for 2023 to delineate further resources and test new targets.
"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," said Chief Executive Officer Sebastien de Montessus.
He added Endeavour Mining is on track to achieve its gold discovery target of 15 to 20 million ounces from 2020 to 2025.
Shares rose 1.8% to 1,670.00 pence in London on Monday morning.
By Greg Rosenvinge; gregrosenvinge@alliancenews.com
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