AIM /TSX: ASO
TORONTO, Aug. 2, 2018 /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 Youga Gold Mine in Burkina Faso (the "Report").
The Report supports the disclosure made by the Company in its announcement dated June 19, 2018 entitled "Avesoro Reports a 29% Increase in Mineral Reserves at the Youga Gold Mine" and there are no material differences in the Report from those disclosed in the announcement.
The Report has an effective date of July 31, 2018 and is entitled "Mineral Resource and Mineral Reserve Update for the Youga Gold Mine, Burkina Faso", and was prepared by CSA Global (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.
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 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, prepared in accordance with CIM guidelines, is set out in an NI 43-101 compliant Technical Report dated November 1, 2017 and entitled "New Liberty Gold Mine, Bea Mountain Mining Licence Southern Block, Liberia, West Africa" and is available on SEDAR at www.sedar.com.
Youga has an estimated Proven and Probable Mineral Reserve of 11.2Mt with 660,100 ounces of gold grading 1.84g/t and a combined estimated Measured and Indicated Mineral Resource of 16.64Mt with 924,200 ounces of gold grading 1.73g/t and an Inferred Mineral Resource of 13Mt with 685,000 ounces of gold grading 1.70g/t. An independent NI 43-101 technical report with respect to the Youga Gold Mine will be filed 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, Tel: +44(0) 20 7220 0500; Berenberg (Joint Broker): Matthew Armitt / Sara MacGrath / Charlotte Sutcliffe, Tel: +44(0) 20 3207 7800; Hannam & Partners (Advisory) LLP (Joint Broker): Rupert Fane / Ingo Hofmaier / Ernest Bell, Tel: +44(0) 20 7907 8500