TORONTO, Nov. 22, 2017 /CNW/ - Avesoro Resources Inc. ("Avesoro" or the "Company"), the TSX and AIM listed West African gold producer, is pleased to announce that the Company has today filed an updated technical report pursuant to National Instrument 43-101 ("NI 43-101") relating to its 100% owned New Liberty Gold Mine in Liberia (the "Report").
The Report supports the disclosure made by the Company in its announcement dated 11 October 2017 entitled "New Liberty Updated Mineral Resource and Reserve Estimate and Q3 2017 Production Update" and there are no material differences in the Report from those disclosed in the announcement.
The Report has an effective date of 1 November 2017 and is entitled "New Liberty Gold Mine, Bea Mountain Mining Licence Southern Block, Liberia, West Africa", and was prepared by SRK Consulting (UK) Limited. A copy of the Report is available for review on both SEDAR (www.sedar.com) and the Company's website (www.avesoro.com).
About Avesoro Resources Inc.
The Company's assets include the New Liberty Gold Mine in Liberia (the "New Liberty Gold Mine," "New Liberty" or the "mine") which has an estimated proven and probable mineral reserve of 7.4Mt with 717,000 ounces of gold grading 3.03g/t and an estimated measured and indicated mineral resource of 9.6Mt with 985,000 ounces of gold grading 3.2g/t and an estimated inferred mineral resource of 6.4Mt with 620,000 ounces of gold grading 3.0g/t. The foregoing Mineral Reserve and Mineral Resource estimates and additional information in connection therewith will be set out in an NI 43-101 compliant Technical Report dated 1 November 2017 and entitled "New Liberty Gold Mine, Bea Mountain Mining Licence Southern Block, Liberia, West Africa".
The New Liberty Gold Mine is located within the Southern Block of the 100% owned Bea Mountain mining licence. This licence covers 478 km² and has a 25 year, renewable, mineral development agreement. The Bea Mountain mining license also hosts additional gold projects of Ndablama, Gondoja, Weaju and Leopard Rock which host indicated and inferred mineral resources. The Company also owns the Yambesei, Archaen West, Mabong and Mafa West licences, in addition to a gold exploration permit in Cameroon.
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.
SOURCE Avesoro Resources Inc.
For further information: Avesoro Resources Inc.: Geoff Eyre / Nick Smith, Tel: +44(0) 20 3874 4740; Camarco: Gordon Poole / Nick Hennis, Tel: +44(0) 20 3757 4980; Numis Securities Limited (Nominated Adviser and Joint Broker): John Prior / James Black / Paul Gillam, Tel: +44(0) 20 7260 1000; Hannam & Partners (Advisory) LLP (Joint Broker): Rupert Fane / Ingo Hofmaier / Ernest Bell, Tel: +44(0) 20 7907 8500