TSX- and Aim-listed gold miner Avesoro Resources remains on track to produce 220 000 oz to 240 000 oz for the full year, with production having reached 60 231 oz in the quarter ended June 30.
Year-to-date production for Avesoro is 128 319 oz of gold.
Production success can be attributed to increased mining rates at both the company’s New Liberty gold mine, in Liberia, and its Youga gold mine, in Burkina Faso.
Total material moved increased by 13% for New Liberty and 45% for Youga, after commissioning of further heavy mining equipment, including a pressure swing absorption oxygen plan at Youga.
During the third quarter, a new 34 kVA transformer will be installed at Youga, in addition to an emergency plant feed chute to aid production flexibility during the wet season.
Avesoro CEO Serhan Umurhan said following a successful mineral resource and reserve upgrade for Youga, which was published earlier in the quarter, the company’s extensive drilling campaigns continue to progress at pace, both in Liberia and Burkina Faso.
Avesoro will update its stakeholders on the results of its mineral resource upgrade at New Liberty, as well as exploration that is under way at the Ndablama deposit – 40 km east of New Liberty – in due course.
New Liberty currently has an estimated proven and probable mineral reserve of 7.4-million tonnes, with 717 000 oz of gold grading 3.03 g/t and an estimated measured and indicated mineral resource of 9.6-million tonnes with 985 000 oz of gold grading 3.2 g/t.
Youga currently has an estimated proven and probable mineral reserve of 11.2-million tonnes, with 660 100 oz of gold grading 1.84 g/t and a combined estimated measured and indicated mineral resource of 16.64-million tonnes with 924 000 oz of gold grading 1.73 g/t.