Perseus Mining Ltd

Published : June 25th, 2008

Ayanfuri Update. Ghana - West Africa.

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Keywords :   Diamond | Ghana | Gold |

Ayanfuri Update.
Ghana - West Africa

Highlights                                                                                                                               June 25, 2008

. The discovery of an extension to the Fobinso North shoot with an intercept of 46m at 3.3g/t Au, including 20m at 4.8g/t Au, has the potential to significantly increase resources at Fobinso.  

. Recent intercepts from the newly discovered Mampon prospect include 8m at 8.4g/t, 11m at 3.5g/t and 17m at 2.3/t Au.  A maiden resource estimate for this new zone will be completed later in 2008.

. Impressive recent intercepts from ongoing drilling at AF-Gap and Esuajah South include 77m at 4.6g/t, 98.7m at 3.2g/t, 104m at 3.9g/t and 62m at 3.4g/t Au.

. Recent geophysics testing, including gradient Induced Polarization (IP) has highlighted numerous drill targets representing possible granite bodies (the host of gold mineralisation at Ayanfuri) on the Abnabna-Fobinso trend.

. The Definitive Feasibility Study is advancing with completion of the Preliminary Economic Assessment expected by the end of July. 

Perseus Mining Limited (ASX:PRU) is pleased to provide the following exploration update for the Ayanfuri Project in Ghana.

Abnabna-Fobinso

A single hole drilled below the northern end of the existing Fobinso pit resulted in the discovery of a down-plunge extension to Fobinso North shoot.  The Diamond drill hole intercepted 46m at 3.3g/t Au from 86m including 20m at 4.8g/t Au from 106m.  The zone is open further down-plunge to the north, and could add significantly to the Abnabna-Gap-Fobinso resource should current follow-up drilling confirm the discovery.

Drilling at the new Mampon prospect continues to return significant intercepts, with recent results including 8m at 8.4g/t, 11m at 3.5g/t, 17m at 2.3g/t, 31m at 1.6g/t and 17m at 1.7g/t Au

Highlights from the latest infill and extensional drilling at AF-Gap include 77m at 4.6g/t, 98.7m at 3.2g/t, 58m at 2.6g/t, 99m at 1.8g/t and 133m at 1.4g/t Au.

A total of 101km of gradient IP has been carried out over about eight kilometres strike of the Abnabna-Fobinso Zone (excluding the open pits).  Resistivity anomalies have shown to be very effective in mapping the host granite mineralisation at AF-Gap. 
 
A number of other resistivity anomalies have been identified parallel and along-strike to existing discoveries, in areas not tested by drilling to date.  This has provided new high priority drill targets on this important trend within the Abnabna-Fobinso Zone.

Previously announced Indicated and Inferred resource estimates for the 2km drilled out section of the Abnabna-Fobinso zone totalled 38.1Mt at 1.20g/t containing 1,474,080 ounces of gold, including 13.9Mt at 1.6g/t containing 710,600 ounces of gold at AF-Gap which was discovered in May 2007.  

Esuajah South

Deeper drilling at Esuajah South continues to define the strong zone of gold mineralisation with strong grades below 130m depth.  Better intercepts included 104m at 3.9g/t Au (including 22m at 7.0g/t Au), 62m at 3.4g/t Au, 86m at 2.2g/t Au and a hole with zones of 64m at 2.4g/t Au and 37m at 2.4g/t Au).

Resources at Esuajah South currently total 9.7Mt at 1.8g/t containing 546,300 ounces of gold and includes 3.7Mt at 2.7g/t containing 319,000 ounces of gold, mostly within a 200m long, 60m wide and 120m deep portion of the deposit.  The depth potential at Esuajah South is excellent.

About 100km of the planned 146km of Gradient IP has been completed in the Esuajah - Fetish area.

Click here to view the full announcement to the ASX, which includes maps, tables, figures and details on the Company's Definitive Feasibility Study.

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Data and Statistics for these countries : Ghana | All
Gold and Silver Prices for these countries : Ghana | All

Perseus Mining Ltd

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CODE : PRU.AX
ISIN : AU000000PRU3
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Perseus Mining is a gold exploration company based in Australia.

Its main assets in development are AYANFURI and TENGRELA in Ghana and its main exploration property is GRUMESA in Ghana.

Perseus Mining is listed in Australia, in Canada and in Germany. Its market capitalisation is AU$ 1.8 billions as of today (US$ 1.3 billions, € 1.1 billions).

Its stock quote reached its highest recent level on September 16, 2011 at AU$ 4.05, and its lowest recent point on December 19, 2014 at AU$ 0.20.

Perseus Mining has 1 033 209 984 shares outstanding.

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Project news of Perseus Mining Ltd
6/25/2008(Ayanfuri)Ayanfuri Update. Ghana - West Africa.
4/28/2008(Ayanfuri)Resource Upgrade. Ayanfuri Gold Project (Ghana)
4/2/2008(Tengrela)Wide Drill Intercepts at Tengrela
3/12/2008(Ayanfuri)West Africa Exploration Update
Corporate news of Perseus Mining Ltd
4/27/2016Form 8.3 – Perseus Mining Ltd (118.50kB)
4/27/2016Form 8.3 – Perseus Mining Ltd (118.28kB)
3/5/2015Upgrades Power Generating Capacity at Edikan Gold Mine in Gh...
10/24/2013: September 2013 Quarterly Activity Report Conference Call
10/15/2013Revised Mine Plan for Perseus Mining's Edikan Gold Mine
10/9/2013: Edikan Gold Mine Optimisation and Quarterly Report Dates
9/17/2013High Grade Gold Results from Cote d'Ivoire
8/30/2013Records Profit of $41.4 Million for FY2013
3/5/2010Added to S&P/ASX 200 index
5/12/2008African Gold Hunt Gives Perseus New Goals
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