Endeavour Mining said on Monday that it had discovered new gold deposits at the Youga gold mine in Burkina Faso during its drilling exploration. The company is already producing gold at the Youga mine in the West African nation.
The infill drilling at the Zergore deposit revealed 30 metres at 2.4 grams per tonne (g/t) of gold in hole YZRC-110, including 1 metre at 10.3 g/t gold. Hole YZRC-169 also returned 10 metres at 5.9 g/t, including 3 metres at 11.4 g/t. The Zergore deposit is located about two kilometers to the east of the Youga plant.
Neil Woodyer, the Chief Executive Officer of Endeavour Mining said that they were pleased with the exploration successes achieved at Youga. The new discoveries were close to the current pits and represented possible mine life additions. They looked forward to more drill results in the coming months.
The Endeavour Mining operated Youga Gold Mine has been in production since 2008. The mine had produced 82,400 ounces of gold in 2010 and is targeting a production of 84,000 ounces of gold in 2011. Several new resource targets have been under exploration within a three kilometer range of the Youga Plant. The company has spent close to $ 2.6 million on the drilling and exploration process for resource development.