Endeavour records increase in indicated resources at Lafigué deposit
TSX-listed Endeavour Mining has announced a 108% increase in indicated resources to 2.5-million ounces at an average grade of 2.40 g/t at the Lafigué deposit, which forms part of the Fetekro greenfield exploration property in Côte d’Ivoire.
This resource update, along with initial preliminary economic assessment (PEA) results, validates that Fetekro has the potential to become another long-life and low-cost cornerstone asset for Endeavour, the company says.
The deposit has a very low discovery cost of $7.50 per indicated resource ounce.
Endeavour says significant exploration potential remains as the deposit is open at depth and over a dozen nearby targets have been identified.
“Fetekro has the potential to be a quality project, given its exploration potential and an already defined large-scale openpittable deposit,” the company enthuses.
With more than two-million ounces at grades above 3.50 g/t gold, it would make Fetekro Endeavour's highest-grade mine, in a country where the company has successfully built two mines in the past decade.
Since the launch of Endeavour's strategic exploration plan in late 2016, over 8.3-million ounces of indicated resources have been added and Endeavour is on track to reach its target of at least ten-million ounces of indicated resources before the end of 2021.
Endeavour expects to publish a PEA based on the new indicated resources in the fourth quarter.
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