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Endeavour Mining Invests in Côte d’Ivoire Gold Projects

Strategic Stake in Koulou Gold Expands West African Operations

by Ikeoluwa Ogungbangbe

Endeavour Mining, a major player in the West African gold mining sector and listed on the Toronto Stock Exchange under the ticker EDV, is making great progress in expanding its operations within the region. The company recently finalized a deal to invest in Koulou Gold, a privately-held entity that controls two promising exploration-stage projects in Côte d’Ivoire.

The investment agreement, completed this Wednesday, sees Endeavour acquiring a 12.39% equity stake in Koulou Gold through the purchase of approximately 9.6 million units valued at $2.7 million. This transaction could potentially increase Endeavour’s stake in Koulou to 19.11% should all the warrants issued as part of the units be fully exercised.

Koulou Gold is at the forefront of exploring and developing the Sakassou project, strategically positioned on the Bouaflé greenstone belt, approximately 30 kilometers northwest of the well-known Yaouré mine operated by Perseus Mining. The Yaouré mine is renowned for its substantial annual output, producing over 200,000 ounces of gold. The proximity of Sakassou to such a high-yield operation highlights its potential and strategic importance to Endeavour’s portfolio.

Sakassou is not just close to other significant mining operations but is also roughly 140 kilometers southwest of Endeavour’s Lafigué project. Like Yaouré, Lafigué boasts impressive production figures, with expectations to match the 200,000 ounces per year mark. It holds considerable reserves, with 49.8 million tonnes of ore at 1.69 grams per ton, totaling approximately 2.7 million ounces of gold. As it stands, the exploration efforts at Sakassou have led to the identification of four mineralized targets on the property. Koulou Gold plans to conduct detailed geological mapping and reverse circulation drilling to better define and expand the known mineralization zones.

Aside from Sakassou, Koulou Gold also manages the Kouto property, another significant project under its operations. Located on the Boundiali-Syama greenstone belt, Kouto lies along strike from other major mining projects like Perseus’ Sissingué mine and Resolute Mining’s Syama mine. These sites are known for their robust gold production, with Sissingué producing over 50,000 ounces and Syama over 200,000 ounces annually. To date, exploration activities on the Kouto property have been limited, but the early-stage soil geochemical sampling currently aims to map out and prioritize targets for more intensive exploration efforts.

Endeavour Mining’s strategic investment in Koulou Gold strengthens the company’s portfolio and demonstrates its dedication to mining the abundant gold reserves in West Africa, especially in Côte d’Ivoire. The action is viewed as a crucial component of Endeavour’s larger plan to profit from underexplored areas with substantial growth potential for the production of gold.

With Endeavour contributing financial and technical resources to these exploratory projects, there is a chance that the process of finding and developing new gold discoveries in the area might proceed more rapidly. In addition to helping Endeavour, this expansion also boosts Côte d’Ivoire’s economy by generating jobs and promoting the growth of the mining industry.

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