JOHANNESBURG (miningweekly.com) – Aim-listed West Africa-focused gold mining company Amara Mining on Friday announced a 2.2-million-ounce increase in the inferred resource at its 100%-owned Yaoure gold project, in Côte d'Ivoire, bringing the project’s resource to 5.5-million ounces.
The project’s indicated mineral resource was also updated to 800 000 oz, representing an increase of 300 000 oz.
"The delivery of the latest mineral resource update for Yaoure has confirmed the project as an important part of Amara's portfolio, representing our largest resource in West Africa and the largest deposit in Côte d'Ivoire. It has also increased the company's global mineral resources by over 70% at a minimal discovery cost for the updated Yaoure resource of just $3.50/oz,” Amara CEO Peter Spivey said.
Amara’s global mineral resources now stood at 3.7-million ounces measured and indicated and 6.4-million ounces inferred.
Spivey added that it was strategically important that the Yaoure resource remained strong at lower gold prices, with a robust overall grade of 1.86 g/t at a 1 g/t cutoff.
“This demonstrates Yaoure's viability in the current challenging market conditions,” he said.
The next milestone for the project would be the completion of the preliminary economic assessment (PEA) in the first quarter of next year, which would primarily explore the potential for large-scale, long-term production from Yaoure's substantial sulphide resources.
The PEA would also evaluate the potential for Amara to maintain its status as a heap leach producer beyond the Kalsaka/Sega mine life through the additional oxide resources defined at Yaoure, offering near-term cash flow.
“I am confident that it will further demonstrate the project's robust economics as a result of the large-scale, low strip ratio, simple metallurgical nature of the deposit and the excellent existing infrastructure in Côte d'Ivoire," Spivey said.