- Endeavor announced that between 1.5 and 2.0 Moz of indicated resources are expected to be discovered at Wahgnion over the next five years, in addition to the existing 2.2 Moz at 1.51 g / t gold of the measured resource. and indicated. Production at Wahgnion during the period is currently expected to be around 775,000 ounces of gold2
- The exploration target defined by Endeavor for Wahgnion is 21 to 39 Mt at 1.2 to 3.0 g / t gold
- Endeavor reported that approximately
36 million US dollarsThe five-year exploration program to the end of 2025 will focus on open-pit targets located within 10 kilometers of existing infrastructure, including Nogbele Nord, Nogbele Sud, Fourkoura, Hillside and Korindougou, as well as new targets such as Kafina West
- Development of the Wahgnion mine has accelerated since its commissioning in 2019 to supply the plant which was operating at 30% above rated capacity, requiring an acceleration of discovery to meet future plant demands.
- The focus will be on the Nogbele North and Nogbele South deposits, where Endeavor allocates a high probability of success, targeting the pursuit of mineralized structures under and between the numerous Nogbele pits. There has been very little deep drilling at Nogbele and other deposits which may contain significant upside resources.
- In the longer term, several deposits and satellite targets will be the subject of a multi-year effort given the significant exploration potential.
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Elemental is a gold-focused royalty company listed on the TSX Venture Exchange in
Note 1: For the methodology, see Endeavor Mining’s presentation entitled “Unlock Exploration Value: Indicated Resource Discovery Target Between 2021-2025“dated
Note 2: Source SNP Global Market Intelligence
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Caution Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements” and certain “forward-looking information” as defined by applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terms such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, ” anticipate ”,“ believe ”,“ continue ”,“ plans ”or similar terminology.
Forward-looking statements and information include, without limitation, statements regarding the future growth and development of the Company. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions which, although considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond Elemental’s ability to control or predict, which may cause Elemental’s actual results, performance or achievements to differ materially from those. expressed or implied. thus, and are developed based on assumptions regarding those risks, uncertainties and other factors set forth herein, including, but not limited to: the requirement for regulatory approvals and third party consents, the impact general business and economic conditions, the lack of control over mining operations from which Elemental will receive royalties, including risks related to international operations, government relations and environmental regulations, risks inherent in exploration and development mining properties; uncertainties related to the interpretation of exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not meet Elemental’s expectations; accidents, equipment failures, title issues, labor disputes or other difficulties or unforeseen interruptions of operations; fluctuating metal prices; unforeseen costs and expenses; uncertainties about the availability and costs of necessary funding in the future; the inherent uncertainty of production and cost estimates and the potential for unforeseen costs and expenses, fluctuations in commodity prices; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. Elemental assumes no obligation to update forward-looking information, except as required by applicable law. This forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary significantly. Therefore, readers are advised not to place undue reliance on forward-looking statements or information.
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