Endeavour increases its resources to 5.2moz in 2023
LONDON – Endeavour Mining has announced that its exploration programme at its Ity mine in Côte d’Ivoire has resulted in the successful delineation of 0.75Moz of Measured and Indicated (“M&I”) resources, lifting the mine’s M&I resources to over 5 million ounces, as presented in Table 1 below.
In addition to the delineated resources, drilling conducted during the year also confirmed mineralisation at extensions of several known orebodies and at new targets, which will form the basis for the 2023 drilling programme with the goal of delineating further resources.
Sebastien de Montessus, President and CEO, said: “We are very proud of our achievements at Ity following its successful build in 2019. The mine now ranks amongst the highest quality operations within West Africa due to its low-cost production profile and long mine life. This status has been underpinned by our significant exploration success at Ity, which has led to a more than doubling of the resource base since its feasibility study was published in 2016, coupled with a strong operating performance. We are very pleased to demonstrate that now all three of our flagship assets, Sabodala-Massawa, Houndé and Ity, boast M&I resources above 5 million ounces each, with exploration remaining an integral part of our capital allocation strategy as it underpins our ability to maintain long mine lives and continually optimise our portfolio. Looking ahead, we continue to see significant exploration potential at Ity as we remain on track to achieve our objective of discovering between 3.5 to 4.5Moz of Indicated resources over the 2021-2025 period, with nearly 2.0Moz discovered already. At a group level, we are pleased to also be on track to discovering between 15 to 20Moz of Indicated resources over the same period.
