viewEndeavour Mining Corp

Endeavour Mining lifts gold reserves at Houndé mine by 41% with Kari Pump discovery adding 710,000 ounces

The maiden reserve at the Kari Pump area of 710,000 ounces lifted Houndé’s total reserves by 41%

Processing plant pic
Pictured is the processing plant at Houndé

Endeavour Mining Corporation (TSE:EDV) (OTCMKTS: EDVMF), the Africa-focused gold miner, is eyeing improved production at its Houndé mine in Burkina Faso as it posted a 41% increase in reserves at the project.

The maiden reserve at the Kari Pump area of 7.3 million tonnes at 3.01 g/t (grams per ton) of the yellow metal for 710,000 ounces lifted Houndé’s total reserves by 41%, the miner said in a statement.

READ: Desjardins sets C$30.00 price target for Endeavour Mining, an uplift of more than 50%, as company enters “harvest mode”

There was an 89% conversion rate of the higher confidence M&I (measured and indicated) resource from Kari Pump into reserves based on a gold price of $1,250/oz.

Notably, Kari Pump is just one of three discoveries in the larger Kari area (and lies 7 kilometers west of the processing plant), where a  200,000 meter drilling campaign with a budget of $17 million is now underway mainly focused on the adjacent Kari West and Kari Center discoveries.

Drill results for Kari West and Kari Center are expected to be published in the early third quarter of 2019, with maiden resource and reserve estimates expected in the fourth quarter.

Sébastien de Montessus,  the CEO of Endeavour Mining, noted that the firm had "enjoyed a very high conversion rate of resources to reserves."

"Moreover, it demonstrates the value unlocked through exploration as these high-quality ounces were discovered at a cost of less than $13.50/oz of reserve and have the potential to be produced at an All-In Sustaining Cost of below $800/oz," said Montessus. "We therefore look forward to producing from Kari Pump as it is expected to improve the mine’s production profile due to its higher-grades and attractive ore characteristics."

Ongoing exporation

The firm was excited, he added, to soon publish drill results from the ongoing 2019 Houndé exploration program.

Environmental studies on Kari Pump have been launched and an application for a mining license is due to be submitted later in 2019, with the goal of beginning mining activities in late 2020 or early 2021, following the completion of mining at the nearby high-grade Bouere deposit, Endeavour said.

The mining method planned for Kari Pump is conventional open pit, with the run of mine ore hauled for processing to the Houndé CIL plant.

An updated mine plan and technical report are expected to be released following the publication of maiden reserves at the Kari West and Center discoveries.

Contact Giles at [email protected]

Follow him on Twitter@Gile74

Quick facts: Endeavour Mining Corp

Price: 35.31 CAD

Market: TSX
Market Cap: $5.76 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Endeavour Mining Corp named herein, including the promotion by the Company of Endeavour Mining Corp in any Content on the Site, the Company...



Endeavour Mining's head of exploration and growth details his 2019 ambitions

Patrick Bouisset, executive vice president of exploration and growth at Endeavour Mining  Corporation (TSE:EDV), speaks to Proactive's Andrew Scott while in London. The miner has five operating mines in the Birimian greenstone belt - in the Ivory Coast, it has the Agbaou and Ity...

on 24/5/19

3 min read