Name of the Project
Fetekro gold project.

Location
Northern-end of the Oumé-Fetekro greenstone belt, the Côte d’Ivoire.

Project Owner/s
Endeavour Mining.

Project Description
A prefeasibility study (PFS) has shown the project to have proven and probable reserves of 31.9-million tonnes grading at 2 g/t gold for 2.1-million ounces of gold. Measured and indicated resources are estimated at 32-million tonnes, including reserves, grading 2.4 g/t gold. Inferred resources are estimated at 800 000 t grading 2.52 g/t gold. The reserves and resources comprise only the Lafigué deposit, which is near surface and amenable to conventional openpit mining.

The mine planning, resource and cost estimation for the PFS is based on a contract mining operation, with a maximum mining movement of 50-million tonnes a year. The variation is largely because of the different productivities by weathering type.

The proposed openpit has the potential to become a cornerstone mine, with production of about 200 000 oz/y of gold and life-of-mine production estimated at 209 000 oz/y. The project has a 9.5-year mine life, based on current reserves.

The Lafigué pit will be developed in eight stages. Stockpiles are expected to be accumulated to allow for high-grade material to be preferentially processed.

Ore will be processed through a 3-million- to 3.3-million-tonne-a-year gravity/carbon-in-leach plant.

The PFS includes the addition of a solar hybrid power option to provide sustainable power.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at a 5% discount rate, of $663-million and an internal rate of return of 38%, with a payback of 2.6 years from the start of commercial production.

Capital Expenditure
Upfront capital costs are estimated at $338-million.

Planned Start/End Date
Not stated.

Latest Developments
The definitive feasibility study is expected to start immediately and is due to be completed in the fourth quarter of 2021.

Further exploration is planned during 2021 on near-mine exploration targets and the Lafigué deposit, with an allocated budget of $7 million.

Key Contracts, Suppliers and Consultants
Lycopodium Minerals (PFS); Lycopodium and Snowden Group (mining study); and Knight Piésold (infrastructure, tailing storage facility and water management sections).

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