Perseus Mining Announces High Grade Drill Results at Edikan Mine Site

Perseus Mining Limited has recently provided details of further high-grade gold intercepts during recent drilling on the Bokitsi South Deposit at its Edikan Gold Mine (EGM) in Ghana, West Africa. The Bokitsi drill program included 37 RC drill holes totaling 2,973 meters. Aside from the three holes that were diamond core tailed due to the presence of water, the predominantly RC drilling program was conducted with dry samples.

This drilling program targeted areas containing Inferred Mineral Resources at Bokitsi South. The southern extent of the lode was also tested. The drill results will now be incorporated into a revised estimation of the Mineral Resources at Bokitsi South to be published early in the September 2014 Quarter. A maiden Mineral Reserve estimate for the Bokitsi South deposit based on the updated Mineral Resource data is expected to be released late in the September 2014 Quarter.

The Bokitsi sediment shear hosted mineralized zone extends along the western flank of the Fetish deposit to 1.5 kilometers to the south. Mineralization is contained in a 5 to 25 meter-wide shear zone in volcaniclastic sediments with silica-sericite alteration, quartz veining and 1 to 3 percent pyrite plus arsenopyrite. While the granite-hosted deposits at Edikan tend to be low-grade and wide, the sediment shear-hosted deposits are narrower and of a significantly higher grade.

Two discrete deposits have been delineated on the trend, including Bokitsi North, which is located immediately west of the Fetish deposit, and Bokitsi South. Oxide ore was mined from both deposits in the 1990’s, with the Bokitsi South lode exploited by Ashanti Goldfields.

Metallurgical test work conducted on the Bokitsi South gold mineralized material indicates that it is amenable to processing through the EGM circuit at marginally lower recoveries than the Edikan granite orebodies.