CEE, EDV, IAU
As much as Centamin aka CEE has for several years of necessity been focused on (so far successfully) turning around operations at their producing Sukari gold mine in Egypt, they have also been working away at some promising prospects in Burkina Faso and Cote d'Ivoire. The most advanced of these is Doropo in CDI, and today CEE released an update on the PFBS for this deposit.
Extensive drilling since the release of a PEA on Doropo a few years has allowed the release of a new Resource Report with over 5m oz Au in the Inferred categories, but also a larger Indicated resource at a much improved grade, 2.13 g/t, which will in turn will improve the economics of the project. (But note that so far the Indicated Resource is small at only 160 oz Au, so more drilling will be needed to increase its size significantly.) metallurgical testing is also indicating that they may be able to use a much simpler and cheaper processing flowsheet than the one envisioned by the PEA.
The PFBS will be released in about six months, so expecT ongoing drilling and metallurgical testing to further improve the economics compared to the PEA.
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Meanwhile, west Africa's largest gold producer, Endeavour Mining aka EDV, released a resource update for its Ity project, a set of producing gold mines in Cote d'Ivoire. Since the last Resource Report released at the end of last year, they have been able to add 800k oz of Indicated resources while increasing the grade from 1.56 g/t Au to 1.62. Drilling has also been able to unify seven smaller deposits near the processing plant into one large pit, decreasing mining costs. They are also well into delineating a new mining area called Plaque 7km from the mill at Yopleu-Legaleu, and another high grade deposit 22 km away shows great promise.
At the beginning of last year EDV set out a goal of developing 3.5-4.0M Indicated ounces at Ity by 2025, and they are already well on their way to meeting that goal with about 2M oz already on the books.
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A few weeks ago we learned why i-80 Gold aka IAU was contemplating switching their mill at the Ruby Creek property in Arizona to include base metal circuits with the release of some very high assay results from CRD deposits on the property which included not only high levels of Au and Ag but also Pb and Zn. Today we get an update from the original focus of their drilling efforts, the Ruby Deeps deposit, and things continue to look very promising, with intercepts like 9.0 g/t Au over 51.2m and 7.1 g/t Au over 78.6m. These holes substantially expanded the size of Ruby Deeps to both the north and south, and mineralization remains open in both directions.
Given how well drilling at Ruby Creek has gone, IAU has again expended their current programme, so expect plenty more great intercepts, both CRD and Carlin-style gold, to come. Once the drilling is complete, we'll get a new Resource Report and an updated economic study.
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