Perseus Mining Announces Underground and Open Pit Reserve Growth at Yaoure

Perth, Aug. 23, 2023 (GLOBE NEWSWIRE) -- PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE GROWTH AT YAOURÉ

Perth, Western Australia/August 23, 2023/Perseus Mining Limited (ASX/TSX: PRU) is pleased to announce an increase to CMA underground Ore Reserves beneath the existing CMA open pit, at its Yaouré Gold Mine in Côte d’Ivoire of 2.7 Mt at 3.46 g/t for 300 koz. The total CMA underground Ore Reserve is now estimated by Perseus to be 4.9 Mt at 3.51 g/t for 559 koz. The CMA orebody remains open down plunge and down dip below the current Indicated Mineral Resource, and further extensions to the CMA underground Ore Reserves are expected with future drilling during FY24.

Feasibility-level studies on the CMA deposit at Yaouré (approximately four hundred metres down dip from the base of the open pit) have confirmed the economic and technical viability of underground mining. Resource definition drilling during FY23 has added Mineral Resources and Ore Reserves down-dip of the CMA underground Pre-Feasibility Study (PFS) Ore Reserves and readers are referred to ASX release “Perseus Updates Mineral Resource and Ore Reserve Estimates” dated 28 August 2022 for additional details on the CMA underground PFS.

More widely spaced drilling below the CMA underground Ore Reserve has shown that mineralisation extends deeper allowing an extension to Inferred Mineral Resources at depth. Extension of Inferred Mineral Resources and continued drilling success down-dip, provides strong encouragement for further expansion of the CMA underground.

As well as growth to Ore Reserves for the CMA underground, a drill campaign of 22,084 metres during FY23 at the adjacent Yaouré open pit has resulted in 6.9 Mt at 1.82 g/t for 403 koz of additional Yaouré open pit Ore Reserves (separate to the CMA open pit). Yaouré open pit Ore Reserves now total 11.8 Mt at 1.49 g/t for 565 koz. The increase to Yaouré Open pit Ore Reserves is based upon conversion of Inferred Mineral Resources immediately beneath the existing Yaouré open pit to Indicated Mineral Resources.

CMA underground and Yaouré open pit Ore Reserve increases are in addition to the existing Ore Reserves, adding additional value and mine life to the Yaouré Gold Mine. The CMA underground Feasibility Study (FS) and the Yaouré open pit expansion will be released in Perseus’ upcoming Yaouré Gold Mine Life of Mine (LOM) plan.