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ENDEAVOUR YOUGA DEPOSIT (1.3Moz)

12 November 2013

 

YOUGA DEPOSIT

Project Location and Access

Youga project is located approximately 180km to the south – east of Ouagadougou, capital city of Burkina Faso just at the north of Burkina Faso / Ghana border. The main access to Youga is by paved road to Manga then by laterite road to youga village via zabre town.

Project History

  • Exploration License was first granted in 1991 and exploration started which lead to the discovery of A2 anomalies.
  • 1993: 400 peoples worked on ‘Youga hill’ now called Zergore site.
  • Soils geochemistry was follow up by mapping, trenching, IP survey, RC drilling and diamond drilling
  • Positive feasibility study and application for Exploitation license were submitted to the Burkina Faso Mines Ministry on 15th December 1999 by the Asshanti Goldfields / Echo Bay Mines JV.
  • October 2006: Youga Feasibility Study Update was prepared using a gold price of US$525 per ounce.
  •  Development of the Mine started in 2007 and production started in 2008 with first gold pours by Etruscan Resources on 3rd March.
  • 2010: Endeavour becomes the majority shareholder in Etruscan.

Project Geology

The Youga project is located on the Northeastern extension of the Bole‐Navrongo birimian greenstone Belt, which extends from Ghana into Burkina Faso

The belt is NE trending and geologically has similarities with Ghana birimian gold belts with weakly to moderately metamorphosed basics volcanic flows and intermediate to acid intrusions. The sediments are dominated by volcaniclastics and turbidites sequences. Late NW dolerite dykes cross cut the whole package. Tarkwaian rocks unconformably overly Birimian

Local geology is characterized by Tarkwaian arkoses units specific to Youga.

Gold mineralization at Youga is structurally controlled and hosted by Tarkwaian sedimentary rocks. All reserves are hosted by Tarkwaian sediments: predominantly arkosic sandstones with subordinate chloritic‐schist.

DEPOSIT TYPES

The Youga deposit is an Epigenetic, mesothermal gold deposit type characterized by a  Strong structural control with pervasive silicification, quartz veining and sulphidation, although sulphide content is low.

In ‘Youga hill’ area typical of saddle reef gold deposits is suggested by structural interpretation.

MINERALIZATION

At Youga, the gold mineralization is found in the silicified arkosic metasediments of Tarkwaian age. It is following a NW trending brittle fracture plunging at 40 degrees and cross cutting the ENE dominant fabric.

Typical alteration is characterized by quartz filling microfractures and weak pyritization. Alteration mineral assemblage comprises chlorite; sericite, silica, muscovite, ankerite, sulphides and gold.

The main mineralized bodies are located in the A2 main deposit and consistits of gold bearing sulphides and arsenides. Sulphides comprise pyrite, arsenopyrite and galena.

Mineral Resource and Mineral Reserve

(source company web site / press releases)

Mineral Reserves as of 31 December 201

Deposit

Proven

Probable

Total

kt

Au (g/t)

k Ozs

kt

Au (g/t)

k Ozs

kt

Au (g/t)

k Ozs

Youga1

2,238

2.4

176

2,396

1.8

141

4,634

2.1

317

Youga Satellites2

1,279

1.4

59

1,396

1.6

71

2,674

1.5

131

Total

235

212

448 

Mineral Resources including Reserves, at a 0.5g/t cut-off as of 31 December 2011

Deposit

Measured

Indicated

Measured & Indicated

Inferred

kt

Au (g/t)

k Ozs

kt

Au (g/t)

k Ozs

kt

Au (g/t)

k Ozs

kt

Au (g/t)

k Ozs

Youga1

3,526

2.3

266

7,897

1.6

398

11,422

1.8

664

3,462

1.2

138

Youga Satellites6

3,22

1.1

118

3,731

1.2

146

6,951

1.2

264

1,211

1.4

55

Ouaré3

4,738

2.1

323

Total

384

544

928

516

1 Technical Report and Update of Mineral Resources and Mineral Reserves for the Youga Gold Mine, Burkina Faso, West Africa, effective December 31, 2010 and dated March 15, 2011, prepared by A. de Freitas and K. Woodman, Qualified Persons not independent of Endeavour Mining Corporation, Depleted as of December 31, 2011.
2 Youga Satellite Deposits, Internal Resource Estimates, prepared by AMEC under supervision of K. Woodman; Internal Reserve Estimates, prepared by SEMS under supervision of A. de Freitas Qualified Persons not independent of Endeavour Mining Corporation.
3 Ouaré Deposit, Internal Resource Estimate, dated June 16 2009 prepared by A. Mouton under supervision of K. Woodman Qualified Persons not independent of Endeavour Mining Corporation

 NB: Most of the figures are modified from company public data

www.endeavourmining.com

12 November 2013

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