| Announcement Date: | 2022-07-28 |
|---|---|
| Announcement Type: | Feasibility Study |
| Announcement Code: | NI43-101 |
| Company name: | Pasofino Gold Ltd. |
| Project name: | Dugbe |
| Location: | Liberia |
| Commodities: | Gold |
| Highlight: | Feasibility Study results incl. post-tax NPV of US$524M & IRR of 24% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Toronto, Ontario–(Newsle Corp. – November 22, 2021) – Pasono Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07) (“Pasono” or the “Company”) is pleased to announce updates to the Mineral Resource Estimates for the Dugbe F and Tuzon deposits on the Dugbe Gold Project (“The Project”), in which the Company has an option to earn a 49% economic interest (prior to the issuance of the Government of Liberia’s 10% carried interest). Incorporation of internal barren/low-grade intervals into the updated block model contributed to the lower grade than the 2020 estimates but was considered necessary for the Indicated classication – inll drilling may allow some of these intervals to be modelled and excluded from future MRE work, or at mining stage and is therefore an opportunity to increase grade. Both deposits extend beyond the MRE pit shell, and there is opportunity to expand the high-grade zone at Tuzon beyond its current modelled extent (Figures 1 and 3). At Tuzon, the ‘SE limb’ (Figure 2) in particular needs further drilling to follow it further as shown on gure 3. The last drill-hole on this limb was TDC186 which intersected 17.3 m with an average grade of 2.70 g/t Au[1]. |
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