Gold miner Centamin said on Tuesday that it has “increased resource confidence” in its Doropo project in north-eastern Cote d’Ivoire as it provided an update on the site’s pre-feasibility study.
Centamin said infill drilling added 2.4m ounces of indicated resources for a total of 2.52m ounces at a grade of 1.52 grams per tonne of gold, constrained within $2,000 per ounce pit shells.
The newly indicated resources represented a 22% increase in grade versus Doropo’s 2021 preliminary economic assessment average grade of 1.25 grams per tonne of gold.
Centamin also stated that resource growth had been identified, with extensions and regional exploration targets both located by using new data and reinterpreting old data.
“The potential for significant capital and operating cost savings are under investigation as part of the pre-feasibility study after encouraging initial metallurgical test work results indicate the opportunity to simplify the processing circuit,” said Centamin.
The pre-feasibility study was expected to be completed in the first half of 2023.
As of 0915 GMT, Centamin shares were down 0.61%% at 105.70p.
Reporting by Iain Gilbert at Sharecast.com