Perseus Mining finds exploration success in Ghana amid Nkosuo prospect drilling

Perseus Mining Ltd (ASX:PRU, TSX:PRU, OTC:PMNXF) continues to turn the soil around its Edikan gold operations in Ghana as it works to sustain an imminent half-million-ounce annual production metric.

The gold miner and explorer doubled down at Edikan’s Nkosuo prospect, a precious metals target that’s thought to host near-surface, granite-hosted gold mineralisation.

Over the September quarter, Perseus drilled 7,800 metres at Nkosuo, returning as much as 21.22 g/t gold during the campaign,

Looking ahead, the ASX-lister will fill in the gaps with more resource definition drilling as it works to outline a mineral resource early next year.

“Closer by the day” to production milestone

Speaking to the findings, Perseus managing director and CEO Jeff Quartermaine said: “With our three gold mines now in operation and Perseus moving closer by the day to achieving our goal of producing 500,000 ounces of gold per year, we have turned our sights to finding ways of sustaining this level of gold production from our operations out to the end of the decade and beyond.

“Our exploration program at Nkosuo has so far, returned impressive results that demonstrate the potential of this prospect to add to Edikan’s mine life with further drilling.

“We are particularly encouraged by similarities between the Nkosuo deposit and the Fobinso and Abnabna deposits which we’ve already successfully mined and processed at Edikan.

“While we are working towards completing a maiden mineral resource estimate for Nkosuo in early 2022, we intend to continue exploring on the Agyakusu, Agyakusu-DML and Domenase exploration licence areas, all of which are under option to Perseus and all of which are lwithin trucking distance of our Edikan mill.”

All eyes on Nkosuo

Perseus’ third operating mine, Yaouré in Côte d’Ivoire, was commissioned late last year, establishing ore reserves that could help the company generate 500,000 ounces of gold per annum.

Now, the ASX-lister has committed to a comprehensive organic growth program, aimed at discovering sufficient, incremental ore reserves at each of its three operating mines to maintain its total annual production level through to the end of the decade and beyond.

Perseus has an option to acquire the nearby Agyakusu prospecting licence, which hosts the Nkosuo prospect, and has been drilling in the area since July.

Drilling underway

Over the September quarter, Perseus drilled 13 reverse circulation (RC), eight diamond and 25 RC pre-collared diamond drill holes over Nkosuo, covering 7,801 metres.

This activity took place on an 80-metre by 80-metre grid, aimed at scoping out the extent and overall geometry of the prospect’s host granite.

Perseus claims the results to date are highly encouraging, indicating strong potential for shallow open-pitable gold resources just 7 kilometres from the Edikan mill.

A full list of the best intersections:

What’s more, the drill results define an exploration target of between 10 and 15 million tonnes, grading from 0.9 g/t to 1.1 g/t gold for between 275,000 and 500,000 ounces.

Although it’s conceptual in nature, the Nkosou target could help Perseus establish a mineral resource for the prospect.

Next steps

Perseus is working towards a mineral resource in next year’s March quarter.

To get there, it will complete drilling over a 40-metre by 40-metre grid — and eventually 20-metres by 20-metres — to fill in the current gaps.

In the meantime, metallurgical test-work and geotechnical drilling is about to get underway to help evaluate Nkosou’s ore reserve potential in the September quarter of 2022.

In anticipation that this work will lead to a positive outcome, the company is in the process of exercising its option over the Agyakusu permit.

Looking out, broader exploration at Edikan will focus on prospective opportunities identified on adjacent tenements.

Future discoveries will help the gold miner maintain its annual production level in the years to come.