Perseus Mining (ASX:PRU) underscored its confidence in the recently acquired Nyanzaga gold project in Tanzania following "positive" results from an ongoing infill drilling program, according to a Thursday filing with the Australian bourse.
Among others, the mining company struck 56 meters at 3.4 grams per tonne (g/t)of gold from 273 meters and 111 meters at 5 g/t gold from 438 meters including 11 meters at 22 g/t gold from 456 meters and 11 meters at 17.1 g/t gold from 490 meters.
Further geotechnical, metallurgical, and sterilization drilling programs are ongoing on-site ahead of a final investment decision expected in late January 2025, as per the filing.
After this, development works will start immediately, with a target of first gold production by January 2027.
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