En­deav­our Min­ing drills 6.2 m of 43.39 g/t Au at Hounde

Stockwatch Daily - - MINES & METALS - Mr. Se­bastien de Montes­sus re­ports

EN­DEAV­OUR MIN­ING Corp. has pro­vided an up­date of its con­tin­u­ing ex­plo­ration cam­paign at both its Hounde and Karma mines in Burk­ina Faso, ahead of its in­vestor day

and site vis­its.

At the Hounde mine, fol­low­ing two years of in­ac­tiv­ity, ex­plo­ration re­sumed in early 2017 and has con­firmed the pres­ence of sig­nif­i­cant po­ten­tial with a high-grade dis­cov­ery in the east­ern part of the six-kilo­me­tre-long Kari geo­chem­i­cal anom­aly, while high-grade min­er­al­iza­tion was also in­ter­cepted on sev­eral other tar­gets.

At the Karma mine, drilling has con­firmed min­er­al­iza­tion at the Yabongso tar­get and has dis­cov­ered a par­al­lel ox­ide struc­ture east of the North Kao de­posit, both of which are ex­pected to be de­lin­eated into re­sources in first quar­ter 2018 and add fur­ther po­ten­tial to ex­tend its mine life.

Se­bastien de Montes­sus, pres­i­dent and chief ex­ec­u­tive of­fi­cer, stated: “Last year, we high­lighted the group’s ex­plo­ration po­ten­tial as be­ing a key source of long-term value cre­ation for our share­hold­ers, and we launched a rein­vig­o­rated ex­plo­ration pro­gram with five-year dis­cov­ery tar­gets. Over the past year, we have al­ready en­joyed sig­nif­i­cant suc­cess at our Ivo­rian Ity mine, which was a key pri­or­ity ahead of launch­ing its CIL project. We are now pleased to share the re­sults of our 2017 Burk­ina Faso ex­plo­ration pro­gram as it pro­vides fur­ther con­fi­dence in the dis­cov­ery tar­gets set last year and our abil­ity to ex­tend and en­hance our mine lives.

“Over the past two years, we have made sig­nif­i­cant in­vest­ments to in­crease our pres­ence in Burk­ina Faso as we be­lieve it is an ex­cit­ing un­der­ex­plored min­ing ju­ris­dic­tion, where we have demon­strated our abil­ity to ef­fi­ciently build and op­er­ate mines. As one of the largest pro­duc­ers in the coun­try, we now look for­ward to con­tin­u­ing to ex­pand our foot­print by lever­ag­ing our green­field ex­plo­ration po­ten­tial.”

Hounde ex­plo­ration up­date The Kari/Kari Pump gold-in-soil geo­chem­i­cal anom­aly is the largest tar­get and cov­ers an area six km long by 2.5 km wide. The drilled Kari Pump area and some se­lected as­say re­sults from drill holes over­lie the charge­abil­ity anom­aly.

True width (un­capped):

• RC-17-002: six m of 43.39 g/t Au;

• AC-17-280: 12 m of 8.75 g/t;

• Au RC-17-006: nine m of 4.81 g/t Au;

• AC-17-279: 10 m of 3.13 g/t Au;

• AC-17-278: eight m of 3.02 g/t Au.

Other Hounde tar­gets tested

In ad di tion t o the Kari Pump ex­plo­ration ef­forts, a short drilling cam­paign was also car­ried out on the high-grade Sia/Sianikoui and Bombi tar­gets to cal­i­brate the ge­ol­ogy and test dif­fer­ent gold-in-soil and/or geo­physics anom­alies, in ad­di­tion to in­fill/ex­ten­sion drilling on the Bouere de­posit.

The se­lected best in­ter­cepts ob­tained to date from the Sia/Sianikoui tar­gets in­clude (ap­par­ent thick­ness):

• H-17-030: 4.5 m of 4.31 g/t Au (Vein No. 1);

• H-17-031: 2.9 m of 8.05 g/t Au (Sia zone);

• H-17-034: 3.0 m of 4.87 g/t Au (Sia zone).

The se­lected best in­ter­cepts ob­tained to date from the Bombi tar­get in­clude (true width):

• AC-17-595: 2.9 m of 4.78 g/t Au;

• AC-17-596: 2.9 m of 3.00 g/t Au.

Hounde ex­plo­ration next steps:

• An ex­plo­ration cam­paign on the Kari Pump tar­get (which rep­re­sents 25 per cent of the Kari area) will be­gin in early 2018 to test the con­ti­nu­ity of the min­er­al­ized cor­ri­dors and its ex­ten­sions along strike and at depth. In ad­di­tion, in­fill drilling will be con­ducted with the aim of de­sali­nat­ing an in­di­cated maiden min­eral re­source in sec­ond half 2018.

• An ex­plo­ration pro­gram on the re­main­ing 75-per-cent area of the large Kari gold in soil is also planned to be con­ducted in first half 2018, at a 200-me­tre-by-50-me­tre AC drill spac­ing, to test the min­er­al­iza­tion.

• A fol­low-up RC drilling cam­paign at Sianikoui will be com­pleted by year-end, with fol­low-up drilling planned in 2018. Karma ex­plo­ration up­date Drilling con­firmed a 600-me­tre-long min­er­al­ized area at Yabon­sgo, with se­lected best in­ter­cepts, in­clud­ing 8.1 m at 15.8 g/t Au, 6.3 m at 11.0 g/t Au and 9.9 m at 6.67 g/t Au, re­lated to a sys­tem of stacked flat-dip­ping quartz veins cen­tred on a por­phyritic gra­n­odi­or­ite in­tru­sive.

At North Kao, a new par­al­lel min­er­al­ized struc­ture has been dis­cov­ered to the east of the known zones within the quartz mon­zo­di­oritic in­tru­sion, with se­lected best in­ter­cepts, in­clud­ing 33.2 m at 4.13 g/t Au and 22.8 m at 4.18 g/t Au.

An up­dated North Kao re­source es­ti­mate is ex­pected in first quar­rter 2018, and a short fol­low-up drilling pro­gram is be­ing con­tem­plated to bet­ter de­fine and fur­ther ex-

tend the ox­ide re­source.

We seek Safe Har­bor.

Erika Flores con­densed this news re­lease (erikaf@stock­watch.com).

James Ed­ward Askew, Michael Ernest Beck­ett, Ian D Cock­er­ill, Olivier Colom, Se­bastien Bernard de Montes­sus de Bal­lore, Livia Mahler, Wayne W McManus, Naguib Onsi Sawiris

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