FETEKRO

The Fetekro Project is on the northern-end of the Oumé-Fetekro Greenstone Belt. A positive Pre-Feasibility Study (PFS) was published in February 2021. Given its strong exploration potential, Endeavour believes that Fetekro has the potential to become a cornerstone asset with a target of +200koz per annum over 10 years at low AISC.

PFS highlights:

10-year mine life based on current reserves of 2.1Moz
Average annual production of 209koz at AISC of $838/oz
Robust economics with after-tax NPV 5% of $479m and IRR of 33%, based on a $1,500/oz gold price
Please click here to view the PFS Technical Report

A DFS will now commence, with further opportunities to optimize and expand the project through exploration and engineering. The DFS is due for completion in late 2021.

Exploration potential

To date, only a small portion of the Fetekro property has been explored, as the priority has been the Lafigué deposit, which remains open at depth and along strike.

Several additional exploration targets have been identified within 10km from Lafigué, which have had limited drilling of just 7,050 meters.

An exploration program of $7 million is budgeted for 2021.

KEY FACTS

Ownership:

100% EDV

Mining Method:

Open pittable

Resource:

2.47Moz M+I Resources as at August 18, 2020

Reserve:

2.13Moz P+P Reserves as at August 18, 2020