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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.