Perseus Discovers More High-Grade Gold at Yaouré Mine

Figure 1.1

Figure 1.2

Figure 1.3

Figure 1.4

Figure 1.5

Figure 1.6

PERTH, Western Australia, April 12, 2022 (GLOBE NEWSWIRE) — Perseus Mining Limited (ASX/TSX: PRU) is pleased to report further strong results from exploration drilling at its Yaouré Gold Mine in Côte d’Ivoire. Perseus will use the results to upgrade the CMA Underground Inferred Mineral Resource estimate to the Indicated category and complete a Pre-Feasibility Study (PFS) for a Yaouré underground mining operation in the June 2022 Quarter.

HIGHLIGHTS

• Perseus’s ongoing infill and down-dip extension drilling on the CMA structure at Yaouré continues to confirm strong potential for further mineral resources beneath the CMA open pit (“CMA Underground prospect”).

• Infill drilling of the Inferred resource confirms further high-grade gold mineralisation, with recent results including:

  • YRC1957D: 20.5m @ 5.84 g/t Au from 243.8m, including 19.4m @ 6.12 g/t Au from 243.8m

  • YRC1960D: 12m @ 2.07 g/t Au from 257m, including 3m @ 6.65 g/t Au from 265m

  • YRC1961D: 13.4m @ 2.98 g/t Au from 264.6m, including 12.4m @ 3.18 g/t Au from 264.6m

  • YRC1968D: 12.2m @ 4.9 g/t Au from 291.8m, including 10.4m @ 5.61 g/t Au from 291.8m

  • YRC1970D: 10m @ 4.29 g/t Au from 275.8m, including 7.70m @ 5.47 g/t Au from 278.1m

  • YRC1974D: 14.2m @ 4.24 g/t Au from 218.8m

  • YRC1975D: 9.5m @ 5.34 g/t Au from 223.5m

  • YRC1982D: 6m @ 5.32 g/t Au from 301m

  • YRC1988D: 10m @ 12.03 g/t Au from 346m

  • YRC2006D: 10m @ 7.41 g/t Au from 228m, including 5.7m @ 12.64 g/t Au from 231.1m

  • YRC2018D: 9m @ 4.11 g/t Au from 321m, including 7m @ 5.24 g/t Au from 321m

  • YRC2019D: 15m @ 3.49 g/t Au from 268m including 7m @ 4.91 g/t Au from 268m and 5m @ 3.43 g/t Au from 278m

  • YRC2020D: 6.5m @ 5.15 g/t Au from 224m

  • YRC2029D: 26m @ 2.46 g/t Au from 235.3m, including 5.6m @ 6.17 g/t Au from 235.2m

  • YRC2039D: 8.5m @ 8.91 g/t Au from 222.7m

  • YRC2042D: 12m @ 2.01 g/t Au from 355m, including 3m @ 5.26 g/t Au from 355m

• Perseus returned further high-grade results in the CMA hanging-wall, reflecting CMA splays or oblique S-structures:

  • YRC1987D: 13m @ 7.78 g/t Au from 145m

  • YRC1989D: 8m @ 11.42 g/t Au from 60m

  • YRC2047D: 16m @ 3.39 g/t Au from 56m, including 4m @ 10.75 g/t Au from 68m

  • YRC2074D: 5m @ 5.46 g/t Au from 99m

Perseus’s Managing Director and CEO Jeff Quartermaine said:

Story continues

“Having reached our goal of producing gold at a rate of 500,000oz per year across our three gold mines, we are now working to maintain that level of production over the next decade and beyond. These latest drill results from Yaouré give us further confidence in the high-grade gold contained beneath the CMA open pit and we are working towards a Mineral Resource upgrade, that will enable us to complete a Pre-Feasibility Study and maiden Ore Reserve for the CMA Underground Project during the current quarter. Beyond this, we look forward to progressing Perseus’s first underground mining development which is likely to be the first large scale underground mine operating in Côte d’Ivoire.”

CMA UNDERGROUND RESOURCE DRILLING

Perseus continued to focus recent exploration activities on the Yaouré permits at the CMA Underground prospect, located 2 kilometres south of the Yaouré mill (Appendix 1 – Figure 1.1). Results received continue to demonstrate the potential for the Company to materially grow its gold inventory at Yaouré through further drilling success.

As detailed previously (refer to news releases announcements dated October 14, 2021 and January 19, 2022), Perseus has focused on infill drilling at the CMA Underground to firm up a previously defined Inferred Mineral Resource of 1.8 million tonnes grading 6.1 g/t Au extending below the currently planned CMA pit. This resource extends to a maximum 275 metre down dip beneath the open pit resource (refer to Resources and Reserves release August 24, 2021), with potential for further mineralisation down dip beyond this (Appendix 1 – Figure 1.2). Perseus has also completed a Scoping Study which identified the potential to mine the CMA structure using underground mining methods (refer to “Perseus Mining Completes Scoping Study for Potential Underground Mine at Yaouré” dated November 5, 2018).

Drilling during the last quarter comprised 29,805 metres in 136 reverse circulation (RC) pre-collared diamond (DD) holes, infilling the existing 50 x 50 metres coverage to a nominal 25 x 25 metre pattern to allow conversion of the Inferred resource to Indicated. Results continue to provide strong encouragement, with the latest intercepts comparable in grade, thickness and style to those previously encountered (Appendix 1 – Figures 1.3-1.5).

Better intercepts from the CMA infill drilling are shown in Table 1 below, with a complete summary of significant results included in Appendix 2 – Table 2.1.

CMA DOWN-DIP DRILLING

Perseus received further results for drilling completed in late 2021 to investigate the next 300 metre down-dip from the current CMA Underground resource. The step-out program, guided by Perseus’s early 2020 3D seismic survey, is being drilled on an initial 100 x 200 metre pattern to better define the position of the CMA structure and the intensity of mineralisation. If results remain encouraging, this will be infilled to 100 x 100 metres to allow an initial Inferred Mineral Resource Estimate. This program, currently on hold while the CMA Underground resource conversion drilling is completed, will resume in the next quarter.

Better intercepts from the Yaouré step out drilling are shown in Table 1 below and on Figure 1.6, with a complete summary of significant results included in Appendix 2 – Table 2.2.

Table 1: Intercepts from CMA Underground and CMA Down-dip Drilling

BHID	From (m)	To (m)	Gold Intercept	Comment
CMA Underground Resource Drilling
YRC1924D	119.6	127.4	7.8m @ 2.11 g/t	CMA HW lode
Including	119.6	124.6	5m @ 3.22 g/t	CMA HW lode
YRC1924D	130.4	135.6	5.2m @ 2.33 g/t	CMA HW lode
Including	132.5	135.6	3.1m @ 3.66 g/t	CMA HW lode
YRC1924D	360	367.5	7.5m @ 2.14 g/t	CMA FW lode
Including	360	361.3	1.3m @ 9.5 g/t	CMA FW lode
YRC1944D	103	105	2m @ 3.08 g/t	CMA HW lode
YRC1944D	317.6	322.2	4.6m @ 2.17 g/t	CMA FW lode
Including	319.5	322.2	2.7m @ 3.24 g/t	CMA FW lode
YRC1944D	335.1	344.2	9.1m @ 2.55 g/t	CMA FW lode
Including	336.8	342.2	5.4m @ 4.01 g/t	CMA FW lode
YRC1951D	24	28	4m @ 1.89 g/t	CMA HW lode
YRC1951D	235	244	9m @ 1.25 g/t	CMA FW lode
YRC1956D	336	338	2m @ 4.26 g/t	CMA FW lode
YRC1956D	329	332	3m @ 1.49 g/t	CMA FW lode
YRC1956D	336	338	2m @ 4.26 g/t	CMA FW lode
YRC1957D	243.8	264.3	20.5m @ 5.84 g/t	CMA FW lode
Including	243.8	263.2	19.4m @ 6.12 g/t	CMA FW lode
YRC1960D	257	269	12m @ 2.07 g/t	CMA FW lode
Including	265	268	3m @ 6.65 g/t	CMA FW lode
YRC1961D	82	84	2m @ 7.23 g/t	CMA HW lode
YRC1961D	264.6	278	13.4m @ 2.98 g/t	CMA FW lode
Including	264.6	277	12.4m @ 3.18 g/t	CMA FW lode
YRC1962D	282.5	292.2	9.7m @ 9.6 g/t	CMA FW lode
YRC1967D	303	308	5m @ 1.31 g/t	CMA FW lode
YRC1968D	179.5	181.7	2.2m @ 2.67 g/t	CMA FW lode
YRC1968D	291.8	304	12.2m @ 4.9 g/t	CMA FW lode
Including	291.8	302.2	10.4m @ 5.61 g/t	CMA FW lode
YRC1969D	279	288.9	9.9m @ 3.65 g/t	CMA FW lode
YRC1970D	0	4	4m @ 1.04 g/t	CMA HW lode
YRC1970D	275.8	285.8	10m @ 4.29 g/t	CMA FW lode
Including	278.1	285.8	7.7m @ 5.47 g/t	CMA FW lode
YRC1971D	333.6	338	4.4m @ 2.61 g/t	CMA FW lode
Including	333.6	337	3.4m @ 3.14 g/t	CMA FW lode
YRC1971D	340.8	349	8.2m @ 3.19 g/t	CMA FW lode
YRC1973AD	0	28	28m @ 0.521 g/t	CMA HW lode
YRC1973AD	129	131	2m @ 2.845 g/t	CMA HW lode
YRC1973AD	241	262	21m @ 1.701 g/t	CMA FW lode
Including	250	256	6m @ 4.99 g/t	CMA FW lode
YRC1974D	218.8	233	14.2m @ 4.24 g/t	CMA FW lode
YRC1975D	223.5	233	9.5m @ 5.34 g/t	CMA FW lode
YRC1976D	237.8	244	6.2m @ 3.65 g/t	CMA FW lode
YRC1978D	125	127	2m @ 0.8 g/t	CMA HW lode
YRC1978D	334	340	6m @ 2.9 g/t	CMA FW lode
YRC1981D	306	310	4m @ 2.12 g/t	CMA FW lode
YRC1981D	322	328.2	6.2m @ 3.79 g/t	CMA FW lode
Including	322	325	3m @ 7.48 g/t	CMA FW lode
YRC1982D	301	307	6m @ 5.32 g/t	CMA FW lode
YRC1984D	265	270	5m @ 1.78 g/t	CMA FW lode
Including	265	266.1	1.1m @ 6.97 g/t	CMA FW lode
YRC1985D	261	266	5m @ 2.92 g/t	CMA FW lode
Including	263	265	2m @ 6.92 g/t	CMA FW lode
YRC1985D	302	305	3m @ 2.89 g/t	CMA FW lode
YRC1987D	87	95	8m @ 1.19 g/t	CMA HW lode
Including	91	92.4	1.4m @ 5.45 g/t	CMA HW lode
YRC1987D	145	158	13m @ 7.78 g/t	CMA HW lode
YRC1987D	163.2	167	3.8m @ 2.76 g/t	CMA HW lode
YRC1987D	212	218.5	6.5m @ 2.28 g/t	CMA FW lode
Including	216	218.5	2.5m @ 5.37 g/t	CMA FW lode
YRC1987D	393	395.7	2.7m @ 1.87 g/t	CMA FW lode
YRC1988D	346	356	10m @ 12.03 g/t	CMA FW lode
YRC1989D	60	68	8m @ 11.42 g/t	CMA HW lode
YRC1989D	235	239	4m @ 1.04 g/t	CMA FW lode
YRC1990D	128	130	2m @ 2.79 g/t	CMA HW lode
YRC1990D	237	242.8	5.8m @ 1.78 g/t	CMA FW lode
Including	240	241.8	1.8m @ 4.54 g/t	CMA FW lode
YRC1992D	278	281	3m @ 2.85 g/t	CMA FW lode
YRC1993D	132	134	2m @ 0.965 g/t	CMA HW lode
YRC1993D	206.1	207.1	1m @ 38.8 g/t	CMA FW lode
YRC1993D	211	213	2m @ 2.945 g/t	CMA FW lode
Including	212	213	1m @ 5.07 g/t	CMA FW lode
YRC1993D	262	274	12m @ 0.976 g/t	CMA FW lode
Including	264	272	8m @ 1.31 g/t	CMA FW lode
YRC1998D	106	108	2m @ 0.97 g/t	CMA HW lode
YRC1998D	138	140	2m @ 1.14 g/t	CMA HW lode
YRC1999D	258	265	7m @ 0.92 g/t	CMA FW lode
YRC2001D	211	220	9m @ 2.03 g/t	CMA FW lode
Including	211	214	3m @ 5.85 g/t	CMA FW lode
YRC2004D	253	264	11m @ 1.49 g/t	CMA FW lode
Including	258.2	262.1	3.9m @ 3.34 g/t	CMA FW lode
YRC2006D	117.3	150.5	33.2m @ 1.68 g/t	CMA HW lode
Including	117.3	125	7.7m @ 3.46 g/t	CMA HW lode
YRC2006D	201	209	8m @ 1.61 g/t	CMA FW lode
Including	204	208	4m @ 2.74 g/t	CMA FW lode
YRC2006D	228	238	10m @ 7.41 g/t	CMA FW lode
Including	231.1	236.8	5.7m @ 12.64 g/t	CMA FW lode
YRC2008D	246.6	257	10.4m @ 1.68 g/t	CMA FW lode
Including	247.3	250	2.7m @ 4.91 g/t	CMA FW lode
YRC2009D	252	259	7m @ 1.45 g/t	CMA FW lode
Including	254	257	3m @ 3.04 g/t	CMA FW lode
YRC2013D	228	234	6m @ 2.12 g/t	CMA FW lode
Including	230	234	4m @ 3.03 g/t	CMA FW lode
YRC2014D	247	253	6m @ 2.36 g/t	CMA FW lode
YRC2014D	272	275	3m @ 1.11 g/t	CMA FW lode
YRC2015D	244	249	5m @ 3.43 g/t	CMA FW lode
Including	244.8	248	3.2m @ 5.2 g/t	CMA FW lode
YRC2017D	279.2	293	13.8m @ 1.86 g/t	CMA FW lode
Including	Perseus Discovers More High-Grade Gold at Yaouré Mine 2022-04-12 22:30:00 discoversGoldHighgradePerseusYaouré Share FacebookTwitterReddItWhatsAppPinterestEmailLinkedin Get real time updates directly on you device, subscribe now. Subscribe Business News Updates Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. Prev Post The Climate Answer Is Blowing In The Wind Next Post Belarus-born crypto platform halts operations for Russians in response to invasion of Ukraine You might also like More from author Gold Why gold prices are up, what investors should do Gold New PNG government goes for gold Gold Earnings optimism helps European shares snap two-day dip Gold Outlook on gold as it hits fresh 9-month high as market awaits US Q4 GDP Gold NOVAGOLD Resources Reports Fiscal Year 2022 Financial Results Gold Gold price hits record highs in Japan, eyes on other currencies Gold TSX slides as Bank of Canada hikes rate as expected, signals pause Gold Kraken snatches Blockchain.com’s Chief Compliance Officer Gold Inflation Tops 50% As Iran Starts Offering Gold On Stock Market Gold China steps up gold imports in 2022: Swiss gold imports at 4-year highs, Russia gold… Prev Next Subscribe Login Notify of new follow-up comments new replies to my comments {} [+] Name* Email* Website {} [+] Name* Email* Website 0 Comments Inline Feedbacks View all comments This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More Get more stuff like this in your inbox Subscribe to our mailing list and get interesting stuff and updates to your email inbox. Thank you for subscribing. Something went wrong. We respect your privacy and take protecting it seriously wpDiscuz Insert Sign in / Join Welcome, Login to your account. Forget password? Remember me No account? Sign Up Sign in Recover your password. A password will be e-mailed to you.