Perseus Mining recently acquired all of Exore Resources’ assets including a portfolio of exploration properties situated in northern Côte d’Ivoire. This included PR 321 that hosts the Bagoé gold project, located approximately 70 kilometers (km) from Perseus’ Sissingué gold mine.

During May, Exore announced an independently prepared maiden JORC 2012 compliant mineral resource estimate for Bagoé, based on mineralization associated with the Antoinette and Véronique prospects. During July, Exore published further drilling results, this time from the Juliette prospect that highlighted the potential for additional resources to be delineated along strike from Antoinette.

Perseus’s pre-acquisition evaluation of Exore’s exploration work at Bagoé indicated potential for the economic exploitation of Antoinette and Véronique by open-pit mining and either processing in-situ or transporting ore to Sissingué for processing. Perseus now intends to undertake a Definitive Feasibility Study (DFS) to confirm the technical and financial viability of a development concept for Bagoé.

Drilling at Bagoé was scheduled to start in the second week of October and finish in late December. The target date for completion of the DFS is June 2021.

Work will also be undertaken to prepare an Environmental and Social Impact Assessment (ESIA) for Bagoé. Local environmental consultants CECAF have been engaged to undertake this work. A field survey was due to commence during the first week of October 2020 and the fully documented application for the ESIA is scheduled to be filed during the March 2021 quarter.