The updated National Instrument 43-101-compliant mineral resource estimate was the first step to completing the pre-feasibility study (PFS) that was expected to confirm the “compelling economics” outlined in the preliminary economic assessment.
The 2014 drilling campaign undertaken between April and October last year saw a total of 85 574 m drilled. It also showed the proposed mine boasting 6.8-million ounces of mineral resources, 4.4-million ounces in the indicated category and 2.4-million ounces in the inferred category.
Amara chairperson and CEO John McGloin said “today’s mineral resource estimate represents an increase of 485 000 ounces compared with the estimate released in September 2014, with 65% within the higher confidence indicated category. It is from these mineral resources that mineral reserves can be defined”.
He added that “the 2014 infill drilling programme has improved our understanding of the controls on the mineralisation and highlighted the potential for further parallel structures to the west of the current pits”.
“The PFS will be based on the results of this mineral resource update and the metallurgical test work, and will take into account the excellent existing infrastructure at Yaoure, which has a positive impact on upfront capital costs and operating costs,” McGloin said.