Perseus Mining issues exploration update on Meyas Sand Gold Project
Perseus Mining Limited has released exploration update on Meyas Sand Gold Project situated in Sudan. The firm has been concentrating on developing the Galat Sufur South (GSS) deposit.
Efforts have included infill resource definition drilling, sterilisation trenching and drilling, passive seismic surveys, and various hydrogeological, metallurgical, and geotechnical studies. These activities are geared towards supporting a Front-End Engineering and Design (FEED) Study and a Final Investment Decision (FID) for the project.
Challenges
Exploration activities were paused in April 2023 due to the outbreak of hostilities in Sudan but have recently resumed as Perseus has re-established on-site facilities and security teams at the MSGP camp. Drilling recommenced on May 20, 2024, focusing on high-priority exploration targets near the GSS deposit. Early drilling results have been encouraging, confirming the grade and tenor of the GSS deposit.
Jeff Quartermaine, Perseus’s Chairman and CEO, expressed optimism about the project’s potential to become a significant, low-cost, long-life gold mine in northern Sudan, enhancing Perseus’s multi-mine, multi-jurisdiction asset portfolio. He acknowledged the setbacks caused by the 2023 hostilities but emphasized the positive outlook with the recommencement of drilling activities.
The successful confirmatory drilling results are expected to aid in converting the Foreign Reserve Estimate into an updated Ore Reserve reported under JORC 2012 standards, forming a solid foundation for the FEED study. A visual highlight from the update includes a reverse circulation drilling operation at the Kwandagawi Prospect, located approximately 4 km northwest of the GSS Main deposit.
