Perseus Mining Announces Latest Mineral Resources Update
Perseus Mining Updates Mineral Resources and Ore Reserves
Perseus Mining Limited (ASX/TSX: PRU) has provided an update on its estimates of Mineral Resources and Ore Reserves at its African operations, highlighting significant progress driven by resource definition drilling and studies.
Highlights of the Update
The company reported notable organic growth resulting in new Measured and Indicated (M&I) Mineral Resources and Proved and Probable Ore Reserves. These updates are critical to the long-term sustainability of the group's production profile.
Mineral Resource Estimates
As of 30 June 2024, Perseus Mining's total M&I Mineral Resources are estimated to be 115.9 million tonnes (Mt) grading 1.31 grams per tonne (g/t) gold, containing approximately 4.9 million ounces (Moz) of gold. This represents a decrease from the estimate of 30 June 2023, which was 122.8 Mt at 1.31 g/t for 5.2 Moz of gold.
Ore Reserve Estimates
The Group's Proved and Probable Ore Reserves are now estimated at 64.9 Mt at 1.39 g/t gold for 2.9 Moz. This is a decline compared to the estimate from the previous year, which stood at 73.8 Mt at 1.45 g/t gold for 3.4 Moz of gold.
Acquisition Impact
Inorganic growth during the fiscal year included the acquisition of OreCorp Limited, particularly the Nyanzaga Gold Project. It’s important to note that these Mineral Resources and Ore Reserves are considered Foreign Estimates under Canadian Instrument NI 43-101 until further verification work is completed.
Technical Disclosure
All estimates of Mineral Resources and Ore Reserves were prepared following the standards set forth in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, and adhere to applicable regulations of the Canadian Securities Administrators.
Company Contact Information
ASX/TSX CODE: PRU
REGISTERED OFFICE:
Level 2
437 Roberts Road
Subiaco WA 6008
Telephone: +61 8 6144 1700
Email: IR@perseusmining.com
ABN: 27 106 808 986
Website: www.perseusmining.com
CONTACTS:
Nathan RyanMedia Relations
+61 4 20 582 887
nathan.ryan@nwrcommunications.com.au
Jeff QuartermaineChairman & CEO
jeff.quartermaine@perseusmining.com
Frequently Asked Questions
What is the main focus of the latest updates from Perseus Mining?
The updates primarily focus on the new estimates of Mineral Resources and Ore Reserves at their African operations.
How have the Mineral Resource estimates changed since last year?
As of June 2024, M&I Mineral Resources decreased to 115.9 Mt grading 1.31 g/t gold compared to 122.8 Mt grading the same per tonne last year.
What are the current Ore Reserve figures for Perseus Mining?
The current Proved and Probable Ore Reserves are estimated at 64.9 Mt at 1.39 g/t gold, which is a decline compared to last year's estimates of 73.8 Mt.
What was the reason for the decline in estimates?
The decline in estimates can be attributed to ongoing evaluations and adjustments within the company's operational strategies in light of market conditions.
Are the new project estimates considered current from Perseus Mining?
Currently, the new project estimates remain classified as Foreign Estimates until further verification and work are completed.
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