Burkina Faso: Karma project’s potential increased
(Ecofin Agency) - Mining firm Endeavour Mining, following a declaration of a maiden resource at the North Kao deposit, scaled up the potential of its Karma gold project in Burkina-Faso.
Unexploited resources in North Kao were estimated after an infill drilling program was conducted in 2016 at the project. Probable reserves were estimated at 7.1 million tons grading 1.16g/t while indicated mineral resource was estimated at 8 million grading 1.22g/t gold or 314,000 ounces.
According to Endeavour’s CEO, Sébastien de Montessus, the Karma project has a minimal mine life of 10 years and can produce at a global price lower than $850/oz. “Our drilling programme in 2017 will focus on the neighboring Rambo West and Yabonsgo projects which, we believe, could improve the mine’s prospects,” he said.
The Karma project includes six exploration permits covering overall 856km² with more than 40 identified targets, with a high gold grading.