The life of Avesoro Resources’ Youga gold mine, in Burkina Faso, has been extended by two years to 2027, with total forecast production of 614 000 oz.
In an updated mineral resource and mineral reserve estimate for the mine, released on Tuesday, the TSX- and Aim-listed company noted that the total mineral reserve increased by 29% to 660 100 oz and the total measured and indicated mineral resource increased by 15% to 924 200 oz.
“This updated estimate for Youga consolidates the results of the successful 2017 drilling campaign undertaken in Burkina Faso,” CEO Serhan Umurhan commented.
The company plans to release another updated mineral resource and reserve estimate for the mine and its satellite deposits upon the conclusion of the ongoing 139 000 m drilling programme, focused across its Burkina Faso licence portfolio.
As a part of this, a 20 000 m infill drilling campaign has recently started on the Ouaré deposit with the aim of upgrading a portion of the 406 000 oz of gold in the inferred mineral resource category into a higher level of confidence, and subsequently into mineral reserves.
The company also recently completed a 13 000 m diamond drilling programme that targeted the Panga and Cobra Hill prospects, located a short distance along strike from the Balogo deposit.
“Following a review of the first phase of drilling, a decision has been taken to undertake a second phase of drilling in the third quarter, exploring further along strike to follow up on prospects identified during the 2017 drilling campaign, with the aim of further delineating the strike extent of the mineralisation,” he said.
Additional drilling underneath the main Balogo pit will also be undertaken in the second half of the year, targeting the down dip extension of mineralisation at the main Balogo pit where mineralisation has already been defined to depths of 140 m below the existing planned pit floor.
This down dip drilling programme has the potential to further increase the mine life of the Balogo deposit and also aims to define an underground mineral resource at Balogo.
Further mineral resource and reserve upgrades at Youga are expected to be announced in the first quarter of next year, from ongoing infill drilling programmes, with six diamond drill rigs currently active.