Perseus Mining Finds High-Grade Gold Zones at Yaoure Deposit

Perseus Mining has identified new high-grade gold zones at its Yaoure mine in Cote d'Ivoire, the company said Friday, extending the deposit's strike length and opening the possibility of a larger resource base at the West African operation.

The exploration update, filed on the Toronto Stock Exchange, reported assay results from a 2025-2026 drilling program that returned intercepts including 8 meters at 5.2 grams per ton from 112 meters depth and 12 meters at 3.8 grams per ton from 88 meters. The company said the results extend mineralisation at the CMA and Hefa zones, both within trucking distance of the existing processing plant.

Perseus has been running Yaoure since 2020 and produced 228,000 ounces from the mine in the 2025 financial year. The new drilling targets areas outside the current pit design, which the company said could support a mine-life extension beyond the current 10-year reserve horizon.

"These results demonstrate the potential to add ounces at relatively low cost because the infrastructure is already in place," said Daniel Saunders, Perseus's exploration manager and the competent person for the report. Saunders is a fellow of the Australasian Institute of Mining and Metallurgy and a full-time Perseus employee.

The drilling program focused on the southern and eastern extensions of the CMA pit, where previous models had assumed the orebody pinched out. The new intercepts suggest the mineralised structure continues at depth and along strike, with several holes ending in mineralisation, the company said.

Perseus also reported results from the Hefa zone, about 2 kilometers south of the main pit, where drilling returned 6 meters at 4.1 grams per ton. The company said Hefa remains open in multiple directions and could become a satellite pit feeding the Yaoure mill.

The company's current mineral resource estimate for Yaoure, updated in August 2025, stands at 3.1 million ounces measured and indicated, plus 1.2 million ounces inferred. The new drilling has not yet been incorporated into a formal resource update.

Perseus operates three gold mines in West Africa: Yaoure and Sissingué in Cote d'Ivoire, and Edikan in Ghana. The company also holds the Nyanzaga project in Tanzania, which is in the feasibility stage.

The company did not provide a timeline for an updated resource statement or a revised mine plan. The next scheduled production guidance is due with the September quarter results.

Perseus shares trade on the Toronto Stock Exchange under the ticker PRU and on the Australian Securities Exchange. The stock has gained 18% over the past 12 months, tracking the gold price rally.