Avesoro Resources Inc.
TORONTO, June 21, 2019 /CNW/ - Avesoro Resources Inc., ("Avesoro" or the "Company"), the TSX and AIM listed West African gold producer, is pleased to announce the Company has filed an updated technical report pursuant to National Instrument 43-101 ("NI 43-101") relating to its Youga Gold Mine in Burkina Faso (the "Report") on SEDAR.
The Report supports the disclosure made by the Company in its announcement dated May 8, 2019 and entitled "Avesoro Reports a 23% Increase In Mineral Reserves At The Youga Gold Mine, Burkina Faso". There are no material differences in the Report from those disclosed in the announcement.
The Report has an effective date of January 1, 2019 and is entitled "NI 43-101 Mineral Resource and Mineral Reserve Update for the Youga Gold Mine, Burkina Faso", and was prepared by CSA Global (UK) Limited.
About Avesoro Resources Inc.
Avesoro Resources is a West Africa focused gold producer and development company that operates two gold mines across West Africa and is listed on the Toronto Stock Exchange ("TSX") and the AIM market operated by the London Stock Exchange ("AIM"). The Company's assets include the New Liberty Gold Mine in Liberia ("New Liberty") and the Youga Gold Mine in Burkina Faso ("Youga").
New Liberty has an estimated Proven and Probable Mineral Reserve of 17Mt with 1,365,000 ounces of gold grading 2.49g/t and an estimated Measured and Indicated Mineral Resource of 20.47Mt with 1,748,200 ounces of gold grading 2.66g/t and an estimated Inferred Mineral Resource of 3.0Mt with 271,000 ounces of gold grading 2.8g/t. A supporting Technical Report summarising the PFS, prepared in accordance with CIM guidelines, is set out in an NI 43-101 compliant Technical Report dated January 31, 2019 and entitled "NI 43-101 Pre-Feasibility Report, Mineral Resource and Mineral Reserve Update for the New Liberty Gold Mine, Liberia" and is available on SEDAR at www.sedar.com.
Youga has an estimated Proven and Probable Mineral Reserve of 14.7Mt with 814,900 ounces of gold grading 1.72g/t and a combined estimated Measured and Indicated Mineral Resource of 22.16Mt with 1,189,100 ounces of gold grading 1.67g/t and an Inferred Mineral Resource of 7.6Mt with 377,000 ounces of gold grading 1.5g/t. A supporting Technical Report, prepared in accordance with CIM guidelines, is set out in an NI 43-101 compliant Technical Report dated January 1, 2019 and entitled "NI 43-101 Mineral Resource and Mineral Reserve Update for the Youga Gold Mine, Burkina Faso" and is available on SEDAR at www.sedar.com
For more information, please visit www.avesoro.com
The Company's Qualified Person is Mark J. Pryor, who holds a BSc (Hons) in Geology & Mineralogy from Aberdeen University, United Kingdom and is a Fellow of the Geological Society of London, a Fellow of the Society of Economic Geologists and a registered Professional Natural Scientist (Pr. Sci.Nat) of the South African Council for Natural Scientific Professions. Mark Pryor is an independent technical consultant with over 25 years of global experience in exploration, mining and mine development and is a "Qualified Person" as defined in National Instrument 43 -101 "Standards of Disclosure for Mineral Projects" of the Canadian Securities Administrators and has reviewed and approved this press release. Mr. Pryor has verified the underlying technical data disclosed in this press release.
SOURCE Avesoro Resources Inc.
For further information: Avesoro Resources Inc.: Geoff Eyre / Nick Smith, Tel: +44(0) 20 3405 9160; Camarco: (IR / Financial PR): Gordon Poole / Nick Hennis, Tel: +44(0) 20 3757 4980; finnCap: (Nominated Adviser and Joint Broker): Christopher Raggett / Scott Mathieson / Camille Gochez, Tel: +44(0) 20 7220 0500; Berenberg: (Joint Broker): Matthew Armitt / Detlir Elezi, Tel: +44(0) 20 3207 7800; Hannam & Partners: (Joint Broker): Rupert Fane / Ingo Hofmaier / Ernest Bell, Tel: +44(0) 20 7907 8500