Perseus encounters high-grades at Edikan

THE DRILL SERGEANT: Perseus Mining (ASX: PRU) has encountered further
high-grade gold intercepts during recent drilling on the Bokitsi South
deposit at the company’s Edikan gold mine (EGM) in Ghana, West Africa.

Bokitsi South is the first of a number of targets Perseus is drill testing with the aim of identifying high-grade mineralisation it hopes to include in mill feed for the EGM processing plant.

The recent drill results, include the following highlights:

BKRC083
16 metres at 6.4 grams per tonne gold from 43m, including 3m at 26.7g/t gold from 44m;

BKRC084
24m at 4.6g/t gold from 60m, including 2m at 18.9g/t gold from 68m;

BKRC086
3m at 5.6g/t gold from 27m (drill hole ended in mineralisation);

BKRC093
6m at 8.7g/t gold from 9m, including 3m at 16.1g/t gold from 10m;

BKRC099
4m at 10.8g/t gold from 72m, including 1m at 36g/t gold from 73m; and

BKDD048
8.7m at 8.7g/t gold from 67.5m, including 2.4m at 18.6g/t gold from 72.6m.

Perseus explained the drilling program targeted areas containing Inferred Mineral Resources at Bokitsi South, as well as testing the southern extent of the lode.

 

Location of the Bokitsi South deposit. Source: Company announcement

 

The company intends incorporating the drill results from the program into a revised estimation of the Mineral Resources at Bokitsi South, which it anticipates will be ready early in the September 2014 Quarter.

A maiden Mineral Reserve estimate for the Bokitsi South deposit based on the updated Mineral Resource data is expected to be released late in the September 2014 Quarter.

“We continue to be very encouraged by the results from the Bokitsi South drill program,” Perseus Mining managing director Jeff Quartermaine said in the company’s announcement to the Australian Securities Exchange.

“A Mineral Resource upgrade and maiden Mineral Reserve estimate will now be prepared for the deposit and studies to assess the feasibility of bringing forward the development of the Bokitsi pit will commence.

“Bokitsi South is one of several deposits and prospects on our Edikan tenements, including Chirawewa, Mampong and Pokukrom, where our exploration programs are targeting high-grade mineralisation to enhance the grade of mill feed at our Edikan gold mine.

“We consider that organic growth is the most cost efficient method of growth for mining companies and the recent results from the Bokitsi South drilling program indicate that our corporate strategy of pursuing growth through the drill bit is delivering positive results as planned.”

Email: info@perseusmining.com

Website: www.perseusmining.com