Engineering & Mining Journal

DEC 2018

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

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REGIONAL NEWS - EXPLORATION ROUNDUP 30 E&MJ • DECEMBER 2018 www.e-mj.com Exploration Generating Positive Results at 2 Endeavour Projects Endeavour Mining has reported very posi- tive results from major exploration drilling programs near its Houndé mine in Burki- na Faso and at its Fetekro exploration property in north-central Côte d'Ivoire. At Houndé, Endeavour has drilled 203,900 meters (m) over the past 18 months on the large Kari gold-in-soil anomaly west of the mine. A maiden re- source estimate for the Kari Pump depos- it has increased Houndé's measured and indicated resources by 40%, while add- ing high-grade material. Since May, drilling on the Kari proj- ect has focused mainly on the Kari Pump discovery, with more than 71,000 m drilled to extend and in-fill its mineral- ization. In addition, more than 20,000 m have been drilled on the Kari Center and Kari West discoveries. The Kari Pump indicated resource currently totals 11.3 million metric tons (mt), grading 2.71 grams/mt gold, for 987,000 ounces (oz) of contained gold. The grade is higher than that of the re- source at the Houndé mine, which stands at 2.05 g/mt. The deposit is located 7 km west of the Houndé processing plant. Endeavour is planning to start anoth - er aggressive 200,000-m drill program focused on extending the mineralization at Kari Pump and delineating a maiden resource for both the Kari Center and Kari West deposits, in addition to testing other nearby targets. The Kari Pump maiden resource covers an area 1.3 km long by 0.8 km wide and remains open to the east, north, north- west and southwest. As the mineralization starts at surface, it is amenable to open-pit mining. In addition, approximately 45% of the indicated resource is located within the oxide and transition zones, compared to most of the Houndé indicated resource, which is located in fresh zones. Elsewhere, at Endeavour's Fetekro property in north-central Côte d'Ivoire, the company has launched a 45,000-m drilling program that will continue into 2019. The company began exploration on the property in March 2017 and since then has drilled 32,000 m, mainly fo- cused on the highly prospective Lafigué target. An infill drilling program has been initiated at Lafigué with the aim of test- ing the extension and continuity of the mineralization and converting the current inferred resources to indicated. An additional 14 nearby targets have also been identified based on a recently completed gold-in-soil geochemical cam- paign, structural mapping and ground/ airborne geophysics. Estimated resources at Fetekro cur- rently stand at 6.8 million mt indicated grading 2.25 g/mt gold and containing 494,000 oz, and 3 million mt inferred grading 2.25 g/mt gold and containing 225,000 oz. Current planning calls for publication of an updated resource esti- mate in late 2019. (www.endeavourmining.com) Exploration Briefs Iamgold is continuing exploration drilling along the Saramacca-Brokolonko trend 25 km southwest of its Rosebel gold mine in Suriname. Exploration at the Saramac- ca deposit has supported a declaration of proven and probable reserves comprising 26.5 million metric tons (mt), grading 1.8 grams/mt gold for 1.54 million ounc- es (oz) of contained gold. Current explo- ration is targeting selected areas along the Saramacca-Brokolonko trend with the objective of discovering additional zones of mineralization. Mineralization representing a potential new zone has been intersected by wide- spaced drilling approximately 400 m northwest along strike of the Saramacca deposit, extending for at least 1,200 m of strike length to the northwest onto the ad- jacent Sarafina-Moeroekreek concession. Exploration drilling will continue to eval- uate the resource potential of this zone. (www.iamgold.com) Monarques Gold has reported assay re- sults from 2018 diamond drilling at its wholly owned Croinor gold project 50 km east of Val-d'Or, Québec. The initial 20,000-m program started in March and focused on expansion and infilling of the Croinor gold deposit. The program was completed in early September, with a total of 19,935 m of core drilled in 89 holes. Drilling continued with one rig on the property and a second rig was added in September to drill an additional 8,300 m before the winter freeze. "We continue to be impressed by the high-grade results at Croinor, which prompted us to drill an additional 8,300 m," Monarques President and CEO Jean- Marc Lacoste said. "The success of our 2018 drilling program also shows that we have a better understanding of the deposit. The supplementary 8,300-m drilling pro- gram is designed to pass between planned stopes, where there are no drill results, to increase the tonnage in the Croinor deposit before mining starts, and to drill around the periphery of the deposit to follow up on positive assay results to extend the re- source to the west, where it is still open." (www.monarquesgold.com) Rockcliff Metals is proceeding with a first- phase drill program at its high-grade Lagu- na gold property in Snow Lake, Manitoba. Kinross Gold has the right to earn a 70% interest in the Laguna and Lucky Jack properties by contributing a minimum of C$5.5 million to exploration expenditures over six years. Kinross is committed in the first and second year to aggregate mini- mum expenditures totaling C$1.25 mil- lion. Rockcliff is acting as the operator. The Laguna property hosts the past-pro- ducing Rex-Laguna mine. The 2,500-m drill program is the first drilling on the property in more than 70 years. Rockcliff's initial reconnaissance exploration program in 2016-2017 identified seven histori- cal surface high-grade, gold-rich quartz zones, with multiple areas of visible gold and surface grab sample assays from trace to more than 600 g/mt gold. Follow-up geophysical programs including airborne magnetics and surface IP surveys covering the 6.0-km-long Laguna gold mine trend identified significant potential extensions of the known surface gold-rich zones along strike below a thin veneer of cover. (rockcliffmetals.com)

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