Endeavour Mining plc announced the discovery of 3.0 million ounces of Measured and Indicated resources and 0.9 million ounces of Inferred resources across its flagship Ity, Houndé and Sabodala-Massawa mines as well as at its Lafigué deposit on the Fetekro property. Exploration and resource estimation activities were prioritised at the flagship mines and Fetekro for incorporation into the upcoming definitive feasibility study, which is due to be completed this quarter. Resource updates for all the other assets will be included in the annual year-end reserve and resource update, which is expected to be published along with the 2021 financial results in March 2022.

The strong results from the 2021 exploration programme have positioned Endeavour well to achieve its 5-year (2021-2025) discovery target of 15 to 20 million ounces of Indicated resources at a discovery cost of less than $25 per ounce, as previously announced on 30 September 2021. During 2021, over 72,000 meters of drilling was completed at Ity, exploration efforts have delineated 975koz of Indicated resources representing a 26% increase over the 31 December 2020 M&I resource estimate, excluding 2021 mine depletion. At Ity, Indicated resources were discovered at a very low discovery cost of $11/oz.

In addition, 571koz of Inferred resources were delineated and will be followed-up.