Perseus Mining Provides Update on Mineral Resources and Ore Reserves
Perseus Mining Limited (ASX/TSX: PRU) has released an update regarding its Mineral Resources and Ore Reserves at its operations in Africa. This update reflects significant advancements made through resource definition drilling and various studies.
Key Highlights from the Update
The company has reported substantial organic growth, leading to the addition of new Measured and Indicated (M&I) Mineral Resources as well as Proved and Probable Ore Reserves. These updates are vital for ensuring the long-term sustainability of the group's production capabilities.
Mineral Resource Estimates
As of June 30, 2024, Perseus Mining's total M&I Mineral Resources are estimated at 115.9 million tonnes (Mt) with a grade of 1.31 grams per tonne (g/t) gold, amounting to approximately 4.9 million ounces (Moz) of gold. This marks a decrease from the previous estimate on June 30, 2023, which was 122.8 Mt at 1.31 g/t, equating to 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, totaling 2.9 Moz. This figure reflects a decline from last year's estimate of 73.8 Mt at 1.45 g/t gold, which accounted for 3.4 Moz of gold.
Impact of Acquisitions
During the fiscal year, the company experienced inorganic growth through the acquisition of OreCorp Limited, particularly the Nyanzaga Gold Project. It is essential to understand that these Mineral Resources and Ore Reserves are classified as Foreign Estimates under Canadian Instrument NI 43-101 until further verification is completed.
Technical Disclosure
All estimates regarding Mineral Resources and Ore Reserves have been prepared in accordance with the standards outlined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, and comply with the relevant regulations of the Canadian Securities Administrators.
Contact Information for the Company
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 revised estimates of Mineral Resources and Ore Reserves at their operations in Africa.
How have the Mineral Resource estimates changed since last year?
As of June 2024, M&I Mineral Resources have decreased to 115.9 Mt with a grade of 1.31 g/t gold, down from 122.8 Mt with the same grade 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 from last year's estimate of 73.8 Mt.
What caused the decline in estimates?
The decline in estimates is attributed to ongoing evaluations and adjustments in the company's operational strategies in response to market conditions.
Are the new project estimates considered current from Perseus Mining?
The new project estimates are still classified as Foreign Estimates until further verification and additional work are completed.
