Name of the Project
Assafou gold project.

Location
The Tanda-Iguela property, in Côte d’Ivoire, adjacent to the Ghana border.

Project Owner/s
Multinational mining company Endeavour Mining.

Project Description
Assafou is considered to be one of the most significant gold discoveries made in West Africa over the past decade. 

The DFS is based on maiden proven-and-probable reserves of 77.4-million tonnes grading 1.76 g/t gold for 4.4-million ounces. 

Measured and indicated resources, inclusive of reserves, are estimated at 80.1-million tonnes grading 1.93 g/t gold for five-million ounces, with inferred resources of 900 000 t grading 2.34 g/t gold for 100 000 oz.

The Assafou deposit mineralisation extends from surface to depths of more than 300 m and is considered amenable to conventional openpit drill-and-blast mining. 

The 2026 definitive feasibility study (DFS) is based on an openpit operation and a five-million-tonne-a-year gravity/carbon-in-leach processing plant. Mine planning for the DFS is based on a contract mining operation with maximum mining capacity of 53-million tonnes a year.

The DFS outlines a 16-year mine life.  Over the life-of-mine (LoM), the project is expected to process 77.4-million tonnes at an average grade of 1.76 g/t, with average recovery of 94%, producing 4.1-million ounces of gold.  Average production over the first eight years of production is estimated at 320 000 oz/y. Over the LoM, the project is expected to produce 257 000 oz/y.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Using the DFS base-case gold price of $2 500/oz, the project has a pretax net present value, at a 5% discount rate, of $2.91-billion and a pretax internal rate of return of 34%. Pretax payback is estimated at 3.01 years from the start of commercial production.

Capital Expenditure
Upfront capital expenditure is estimated at $1.061-billion.

Planned Start/End Date
Endeavour is targeting a final investment decision before the end of 2026, followed by a 24- to 30-month construction period.

Latest Developments
The company has launched early works, including long-lead orders, detailed engineering and design, as well as key tenders, while continuing to advance the project’s mining convention with in-country stakeholders.

Key Contracts, Suppliers and Consultants
Not disclosed.

Contact Details for Project Information
Endeavour Mining, tel +44 203 011 2723 or email info@endeavourmining.com.