ENDEAVOUR DISCOVERS AN AREA WITH MULTIPLE HIGH-GRADE TRENDS AT ITY MINE
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Several targets identified at the Le Plaque area · Maiden resource expected by Q4-2017
LE Plaque Discovery Highlights:
– The 100%-owned Le Plaque area, covering 4km2, is located 5km south of the Ity mining complex and has a similar footprint
– Several high-grade mineralized trends were identified at the Le Plaque area, with the largest being a 2km long anomaly
– Mineralization at the Le Plaque trends occurs from surface for the main lense and all trends are open along strike and at depth
– A maiden inferred resource estimate, for some of the targets identified in the Le Plaque area, is expected in Q4-2017
– In addition to Le Plaque, exploration activities are on-going at several other targets in proximity to the current Ity mining complex
Abidjan, May 29, 2017 – Endeavour Mining (TSX:EDV)(OTCQX:EDVMF) is pleased to announce the discovery of several high-grade mineralized trends at its Ity gold mine in Côte d’Ivoire, at the 100% owned Le Plaque area, situated 5 kilometers south of the Ity mining complex.
Patrick Bouisset, Executive Vice-President Exploration and Growth at Endeavour, said: “The Le Plaque discovery continues to demonstrate the highly prospective nature of the Ity area. The complexity of the geology requires more drilling and interpretation, but we are very encouraged by the multiple trends discovered which exhibit the potential to host significant resources. Our follow up drilling will focus on the multiple identified targets in the La Plaque area and we look forward to publishing a maiden inferred resource by year-end.”
“We are equally excited about both the ongoing exploration on the other targets located in proximity to the Ity mining complex and on conducting interpretative work to generate new greenfield targets in the wider 80km Ity corridor that was secured last year,” added Mr. Bouisset.
To date the Le Plaque area has been covered by 3,450 meters of Auger drilling totaling 228 holes, by 1,756 meters of Reverse Circulation (“RC”) drilling totaling 22 holes, and by 6,559 meters of Diamond Drilling (“DD”) totaling 53 holes.
Some of the selected best DD and RC drill intercepts to date from mineralized zones include (estimated true widths):
– Hole FL15-004: 3.08m @ 36.94 g/t
– Hole FL15-007: 13.09m @ 22.36 g/t
– Hole FL15-523: 4.41m @ 5.70 g/t
– Hole FL15-524: 5.02m @ 7.90 g/t
– Hole FL15-527: 10.05m @ 3.16 g/t
– Hole FL15-529: 4.04m @ 11.87 g/t
– Hole FL15-531: 8.09m @ 28.96 g/t
– Hole FL15-533 15.90m @ 2.19 g/t
– Hole FL15-534: 7.99m @ 11.83 g/t
– Hole FL15-535: 5.40m @ 16.43 g/t
– Hole FL15-536: 6.97m @ 5.09 g/t
– Hole FL15-547: 2.61m @ 9.30 g/t
– Hole FL15-567: 2.94m @ 61.23 g/t
– Hole FL16-570: 2.80m @ 5.85 g/t
– Hole FL16-588: 4.90m @ 4.72 g/t
As shown in Figures 1 and 2 below, the Le Plaque area covers 4 square km, is of similar size as the multiple-deposit Ity mining complex to the north, and hosts several large high gold-in-soil anomalies. Several high-grade mineralized trends stretching over 400 meters were identified, with the largest being a 2km long geochemical anomaly with best values >1,000ppb. The trends are all open along strike and at depth.
In addition to exploring the Le Plaque area, exploration is also on-going on several other targets (as per the blue circles in Figure 1) located within 5km from the current Ity mining complex, which represents a small portion of the 80km corridor controlled by Endeavour.
Figure 1: Ity Mine Area and Surrounding Exploration Targets
Figure 2: Le Plaque Area
As shown in the Figure 3 below, the main mineralization starts from surface with secondary shear structures occurring below the surface.
Figure 3: Le Plaque Cross-Section
The gold mineralization at La Plaque is intersected by drilling and is associated with arsenopyrite and to a lesser extent with pyrite. Gangue mineral phases include galena and sphalerite. The mineralization has a strong structural control, and may have developed where secondary shear structures have exploited the contact between contrasting lithologic units (See Figure 3). Due to sparse outcrops and high vegetative cover, data from airborne and ground geophysical surveys contributed strongly to structural interpretations. The prospect area has recently been covered by a detailed ground IP survey conducted by Sagax Afrique SA (Burkina Faso) and is currently part of a high-resolution helicopter borne combination Magnetic/Radiometric/VTEM survey being flown by Geotech Ltd (Canada) over the Grand Ity project permit areas.
GEOLOGICAL SETTING As shown in Figure 4, the Ity district is located within the preserved Toulepleu-Ity klippe, a northeast trending belt of Lower Proterozoic aged B1 Birimian terrane thrusted and floating on an older portion of migmatitic gneissic Archean basement of the West African Craton. The core of the klippe is the granitic/gneissic Guiamapleu intrusive suite. The B1 units are affected by a strong polyphase tectonic regime and sealed by the younger B2 Toulepleu conglomerate that lies unconformably on the rocks of the B1 unit. All formations have been subjected to greenschist to lower amphibolite facies regional metamorphism. The B1 Birimian formations within the Ity area are characterized by a series of volcano-sediments interlayered with carbonate bands. These sedimentary sequences are largely crosscut by granodiorite and diorite intrusions of variable thickness.
Figure 4: Endeavour Controlled 80km Ity Mine Corridor
The Le Plaque Prospect is mostly underlain by felsic and mafic units of the central granitic/gneissic Guiamapleu intrusive suite, with subordinate carbonate, skarn and volcanosedimentary units. Regional scale structures transect the area in northeast, north and northwest orientations, and some of these are interpreted as being associated with mineralization.
– A RC and DD campaign is expected to start in Q3-2017 on Le Plaque to delineate the extent of mineralized potential.
– A maiden inferred resource estimate for some of the targets identified in the Le Plaque area is expected in Q4-2017.
– Exploration is on-going on other exploration targets in vicinity to the Ity mining complex.
– On the greater Ity Area, an interpretation of high resolution helicopter borne geophysical survey (Mag/Spectro/VTEM) will also be reviewed and placed into target ranking and testing.
The scientific and technical content of this news release has been reviewed, verified and compiled by Gérard de Hert, EurGeol, Senior VP West Africa Exploration for Endeavour Mining. Gérard de Hert has more than 19 years of mineral exploration and mining experience, and is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
ASSAYS AND QUALITY ASSURANCE/QUALITY CONTROL
The Le Plaque drill samples were prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. Drill core (HQ and NQ) and Reverse Circulation percussion hammer chip samples were prepared on site at the SMI (Societe des Mines Ity) exploration mechanical preparation facilities. The prep samples were analyzed using a standard 50-gram gold fire assay with an Atomic Absorption finish at Bureau Veritas Laboratories (Abidjan). Core sampling and assay data were monitored through a quality assurance/quality control program designed to follow NI 43-101 and industry best practice.
Auger samples were directly collected on site. A composite sample was taken for each lithology (laterite, duricrust and mottled zone) except for saprolite where one or two composites of two meters long were taken at bottom hole. Samples were crushed and pulverized on site at the SMI Ity exploration mechanical preparation facilities. The pulverized samples (pulps) were analyzed using a standard 50-gram gold fire assay with an Atomic Absorption finish at Bureau Veritas Laboratories in Abidjan (independent lab). ICP-ES analysis was completed by ACME Laboratories Ltd. in Vancouver. Core sampling and assay data were monitored through a quality assurance/quality control program designed to follow NI 43-101 and industry best practice.
Only results issued from saprolite composites are represented in the Figures.
Martino De Ciccio VP – Strategy & Investor Relations +44 203 011 271 email@example.com DFH Public Affairs in Toronto John Vincic, Senior Advisor (416) 206-0118 x.224 firstname.lastname@example.org Brunswick Group LLP in London Carole Cable, Partner +44 7974 982 458 email@example.com ABOUT ENDEAVOUR MINING CORPORATION
Endeavour Mining is a TSX-listed intermediate gold producer, focused on developing a portfolio of high quality mines in the prolific West-African region, where it has established a solid operational and construction track record.
Endeavour is ideally positioned as the major pure West-African multi-operation gold mining company, operating 5 mines in Côte d’Ivoire (Agbaou and Ity), Burkina Faso (Karma), Mali (Tabakoto), and Ghana (Nzema). In 2017, it expects to produce between 600koz and 640koz at an AISC of US$860 to US$905/oz. Endeavour is currently building its Houndé project in Burkina Faso, which is expected to commence production in Q4-2017 and to become its flagship low-cost mine with an average annual production of 190koz at an AISC of US$709/oz over an initial 10-year mine life based on reserves. The development of the Houndé project is expected to lift Endeavour’s group production +900kozpa and decrease its average AISC to circa $800/oz by 2018, while exploration aims to extend all mine lives to +10 years.
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