Edikan Gold Mine Leases - Exploration Activities Updates Provided By Perseus Mining

  • Nov 20, 2018 AEDT
  • Team Kalkine
Edikan Gold Mine Leases - Exploration Activities Updates Provided By Perseus Mining

Within the Edikan Gold Mine leases in Ghana the company Perseus mining limited (ASX: PRU) provided an update on its recent exploration activities. Aimed at extending the mine’s current six-year mine life on its Edikan Gold Mine tenements Perseus Mining has increased exploration activities.

Between the Esuajah South and Esuajah North deposits, the company is drilling on the Esuajah Gap prospect and has discovered a significant mineralized granite body. Returned to date to both the Esuajah South and Esuajah North deposits the Esuajah Gap discovery exhibits similarities based on results. 

While prior to mining, Esuajah North’s Ore Reserves totaled 475,000 ounces of gold while Esuajah South has an open pit Ore Reserve, completed in 2016, of 391,000 ounces of gold. Results included in the recent diamond drilling are 26 meters at 1.11 g/t gold and 13.7 meters at 2.32 g/t gold in EGDD005, 13 meters at 2.65 g/t gold and 29.5 meters at 1.44 g/t gold in EGDD007 and 29 meters at 1.21 g/t gold in EGDD006.

First gold mining operation of Perseus’ was Edikan. It is by identifying additional Mineral Resources that can be processed through Edikan’s gold processing facility is now aiming to extend the remaining six-year mine life.

Situated 250 meters southwest of the company’s operating Esuajah North pit, at the Esuajah Gap prospect extending over 200m of strike length with recent exploration drilling has identified significant granite-hosted gold mineralization.

During the June 2018 quarter, drilling commenced at Esuajah Gap conducted at Edikan by consulting group Corporate Geoscience Group in late 2016 as part of a systematic follow up of targets generated from a targeting exercise.

The initial drilling at Esuajah Gap was successful in intersecting a previously unknown granite body as reported in the company’s June 2018 quarterly report, situated at depth between the Esuajah North and Esuajah South deposits with drill hole EGRDD002 returning 96 meters grading 0.19 g/t gold from 430 meters downhole. Comprising quartz-carbonate-sulphide veining with pervasive sericite–carbonate-pyrite +/- arsenopyrite alteration, Esuajah style mineralization and alteration was intersected.

With better grades achieved in six of these holes and with further intersections of mineralized granite at shallower depths an additional seven diamond holes, EGDD001 to 007, have now been completed.

To investigate the near surface extensions of the Esuajah Gap granite, drilling of further holes is currently underway with the mineralisation open along strike to the South West and North East. To find similar larger granite bodies beneath mineralized, this discovery also opens up the potential, but narrow granite dykes elsewhere in the Edikan district.

The stock of Perseus Mining Limited traded at a market price of $0.372 as at November 20, 2018 and has seen a performance change of 12.12% over the past 12 months.


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