Latest news with #EndeavourMining
Reuters
22 minutes ago
- Business
- Reuters
Endeavour, two other gold producers sign on to Mali's new mining code
BAMAKO, July 29 (Reuters) - London-listed Endeavour Mining (EDV.L), opens new tab and two other gold producers have agreed to migrate to Mali's new mining code, government officials said. The code, which raises taxes and seeks to hand over big stakes in mining assets to the state, sparked bitter disputes with mining companies after it was implemented in August 2023, helping drive Mali's gold output down 23% last year to 51 metric tons. Finance Minister Alousseni Sanou and the Minister of Mines announced the new memorandum of understanding with Somika SA - which is 80%-owned by Endeavour and 20% by the Malian state - Faboula Gold and Bagama Mining on state television late Monday. No terms of the deals were disclosed. The three companies account for only a fraction of Mali's gold output, with Faboula and Bagama launching output in 2021 with 500 kg each and the Kalana project operated by Somika yet to start production. All three have been largely inactive since the mining code was adopted. Somika director Abdoul Aziz said construction of the company's mine "will begin six months after the signing of the agreement, and production will start 18 months later". "Somika has a lifespan of 10 years and a turnover of 135 billion CFA francs ($238.9 million) annually. Bagama and Faboula each have five-year lifespans with turnovers of 50 billion and 75 billion CFA francs,' Sanou said, adding that each company is expected to create around 2,000 jobs. Endeavour Mining declined to comment. Faboula Gold and Bagama Mining could not be reached for comment. Mali's biggest gold miner, Barrick Mining ( opens new tab, suspended operations in the Loulo-Gounkoto complex in mid-January after the government blocked its exports, detained some of its executives, and seized three tonnes of bullion. The Canadian miner remains locked in dispute with the government, having since launched arbitration proceedings at the World Bank's International Centre for Settlement of Investment Disputes (ICSID). Mali is one of Africa's top gold producers, but regulatory uncertainty has weighed on investment and output. ($1 = 565.0000 CFA francs)
Yahoo
22-07-2025
- Business
- Yahoo
Thor Explorations Announces Maiden Drill Results at the Guitry Project in Côte d'Ivoire
Vancouver, British Columbia--(Newsfile Corp. - July 22, 2025) - Thor Explorations Ltd (TSXV: THX) (AIM: THX) ("Thor" or the "Company") is pleased to announce initial drilling results from its maiden drilling campaign at its 100% owned Guitry Gold Project ("Guitry") in Côte d'Ivoire. During May and June 2025, Thor completed an initial 3,000 metre ("m") reverse circulation ("RC") drilling program at Guitry and has received initial assay results from the program. The objective of the program was to gain a better understanding of both the geometry and geological controls on gold mineralisation based on a new interpretation of the historic drilling results obtained by Endeavour Mining, the historical owner of the asset. The assay results received to date from this drilling program include the following highlights: Drillhole GURC25-208 - 14m at 2.59 grammes per tonne ("g/t") of gold ("Au") from surface Drillhole GURC25-209 - 4m at 6.87 g/tAu from 38m Drillhole GURC25-212 - 5m at 7.48 g/tAu from 5m Drillhole GURC25-214 - 10m at 10.36g/t Au from 57m Drillhole GURC25-216 - 7m at 3.93 g/tAu from 7m Drillhole GURC25-219 - 3m at 14.50 g/tAu from 82m Drillhole GURC25-221 - 13m at 3.46/t Au from 114m Drillhole GURC25-227 - 7m at 7.71 g/tAu from 77m Drillhole GURC25-228 - 5m at 12.65 g/tAu from 69m Drillhole GURC25-229 - 17m at 2.16 g/tAu from surface Further exploration at the Krakouadiokro Prospect will include both infill and step-out drilling. Additionally, drilling will commence on numerous geochemical anomalies at both the Krakouadiokro and Gbaloukro Prospects, many of which remain untested or only partially tested. Segun Lawson, President & CEO, stated: "We are extremely pleased to report our first drilling results from Côte d'Ivoire. Guitry is an advanced exploration project which, when acquired, was characterised by numerous gold-in-soil geochemical anomalies that had only been partially drill tested with shallow drilling by the previous explorers. Our initial drilling program was designed based on our new interpretation, suggesting a different orientation of a number of parallel mineralised lodes. "We are particularly encouraged that the drilling confirmed our new interpretation of the orientation of these mineralised lodes which remain open. We also successfully intersected previously untested deeper bedrock mineralisation which also remains open at depth. "This is a great start to our drilling activities in Côte d'Ivoire. The Guitry Project has scope to grow from here and we continue to target our maiden resource in the country by the end of this year. "We look forward to receiving the remaining assay results and are excited to return later this quarter following the rainy season to continue the next phase of drilling and also to kick off our maiden drilling program on our Marahui Project where we have been advancing exploration through the course of the year. "As a country, Cote D'Ivoire is a West African gold mining and exploration success story that hosts over 30% of West Africa's greenstone belts and is proving to be an emerging region for world class gold discoveries. We are pleased with our low-cost entry into the country and believe these two permits provide an excellent platform from which to grow our activities in the country." Introduction The Guitry Project was acquired by Thor from Endeavour Mining Corporation ("Endeavour") during 2024 for a total consideration of US$100,000 in cash and a 2% Net Smelter Royalty. The Project is located 220 kilometres ("km") due west from Abidjan and covers 295 square kilometres ("km2") of prospective Tehini (Birimian) Greenstone Belt comprising a north-easterly trending sequence of greywacke sediments and volcano-sedimentary schists and andesite with later granitic intrusive located to the north. The Tehini Greenstone Belt extends northwards into Burkina Faso where it hosts large gold deposits such as Hounde (5.2Moz) and Mana (2.3Moz). Early-stage exploration at Guitry completed by Endeavour Mining includes 7,672 soil samples and over 11,000m of drilling (Figure 1). Figure 1: Guitry Gold Project Location Map To view an enhanced version of this graphic, please visit: Two main prospects were defined by soil geochemistry: Krakouadiokro and Gbaloukro. A broad gold in soil anomaly extends over a 8.5km north easterly trending zone with a continuous 5km long anomaly at Krakouadiokro (Figure 2). Follow up drilling at Krakouadiokro produced several significant drill intersections from relatively small area of drilling including. However, insufficient information was obtained regarding the geometry and extents of the primary gold mineralisation. Mineralisation appears to be open along strike to the southwest and northeast and down dip at the two main prospects. Figure 2: Guitry Soil Geochemical Map To view an enhanced version of this graphic, please visit: Drilling Results Historically, most of the drilling intersected gold mineralisation in a near-surface flat-lying supergene horizon. Only limited drilling of the primary mineralisation at Krakouadiokro was carried out. The current program was designed based on a new interpretation of the orientation of what is understood to be several parallel mineralised lodes. Since May 2025, Thor completed an initial RC drilling program of approximately 3,000 metres with the results for the initial holes received. All holes were oriented at an azimuth of 225o at a dip of 55 o. Industry standard QAQC protocols were followed, and drill samples were collected, stored and transported under secured conditions. Drill samples were analysed by SGS Laboratories in Yamoussoukro using the FAA505 fire assay method (50-gram charge). The significant intersections from this program are listed in Table 1. The current drilling area is located on the crest of a laterite-capped hill which overlies a north-east striking sequence of pelitic sedimentary (greywacke) rocks. These rocks are strongly weathered to a depth of about 30m from surface before transitioning into fresh bedrock. Primary gold mineralisation is developed within moderately to steep north-dipping zones in the south-west part of the drilling area. Towards the north-east the mineralised zones appear to be sub-vertical (Figure 4). Table 1: Guitry Gold Project Significant Drilling Intersections(>5 gram-metres, 0.3g/tAu cut off, Minimum Interval 3m, Maximum Internal Waste 3m, all holes reported) Hole ID Easting Northing RL Depth Dip Azi- muth From (m) To (m) Interval (m) Grade (g/tAu) True Width (m) GURC25-208 240488 605214 224 78 -55 225 0 14 14.0 2.59 11.9 GURC25-209 240509 605235 233 96 -55 225 38 42 4.0 6.87 3.4 GURC25-210 240354 605221 211 72 -55 226 0 10 10.0 0.62 8.5 GURC25-210 46 57 11.0 1.07 9.4 GURC25-211 240375 605242 218 102 -55 225 81 90 9.0 1.34 7.7 GURC25-212 240467 605405 243 72 -55 226 25 30 5.0 7.48 4.3 GURC25-214 240603 605396 240 78 -54 225 57 67 10.0 10.36 8.5 GURC25-215 240619 605418 252 102 -54 225 70 75 5.0 3.21 4.3 GURC25-216 240640 605358 252 66 -56 226 45 52 7.0 3.93 6.0 GURC25-217 240654 605382 237 60 -55 225 3 8 5.0 1.05 4.3 GURC25-218 240657 605374 264 138 -55 225 5 15 10.0 0.54 8.5 GURC25-219 240581 605458 245 150 -55 225 10 20 10.0 0.97 8.5 GURC25-219 82 85 3.0 14.50 2.6 GURC25-220 240524 605393 259 108 -55 225 60 64 4.0 1.65 3.4 GURC25-220 86 94 8.0 0.72 6.8 GURC25-221 240500 605382 241 84 -55 225 77 84 7.0 7.11 6.0 GURC25-222 240439 605440 245 114 -55 225 3 8 5.0 2.38 4.3 GURC25-222 66 69 3.0 2.50 2.6 GURC25-223 240449 605455 239 132 -55 225 87 92 5.0 3.17 4.3 GURC25-227 240397 605263 233 144 -55 225 114 127 13.0 3.46 11.0 GURC25-228 240528 605258 256 108 -55 225 69 74 5.0 12.65 4.3 GURC25-229 240496 605289 247 114 -55 225 0 17 17.0 2.16 14.5 Figure 3: Guitry Drillhole Location Map To view an enhanced version of this graphic, please visit: Numerous high grades have been intersected in the primary zone over a 400m by 300m area. In the Southern Zone intersections such as 7m at 7.71 g/tAu in GURC25-227 and 5m at 12.65 g/tAu in GURC25-228 indicate that grades appear to increase at depth with most of the grades exceeding 5g/tAu being located in the fresh bedrock (Figure 4). This moderate to steep dipping lode attains an average true thickness of 9m which at these elevated gold grades forms an attractive open pit and underground target. Figure 4: Guitry Cross Sections To view an enhanced version of this graphic, please visit: In the Central Zone where assays are still pending, further drilling will be required to fully define the mineralisation. However, drillhole GURC25-221, which ended in grade, suggests the development of another lode. Assays are pending for several other holes including GURC25-232 and GURC25-233 which targeted this zone further to the east. The Northern Zone is characterised by several narrow mineralised structures including 3m grading 14.50g/tAu which was intersected in drillhole GURC25-219 (Figure 4). Further drilling is planned to obtain a better understanding of the geometry of the mineralisation in this area. Next Steps At the Krakouadiokro Prospect further systematic resource drilling is warranted. This drilling would comprise both infill and step-out drilling. Drilling of the numerous geochemical anomalies at both the Krakouadiokro and Gbaloukro Prospects that have, to date, been either untested or partially tested. Generative geochemical surveys along the north-east and to the south-west strike extents of the Krakouadiokro and Gbaloukro Prospects. These areas, which total approximately 10km of prospective strike, have either been partially sampled on 800m spaced lines or not sampled at all. Commercial Terms Further details can be found on the Company's website: Qualified Person The above information has been prepared under the supervision of Alfred Gillman (Fellow AusIMM, CP), who is designated as a "qualified person" under National Instrument 43-101 and the AIM Rules and has reviewed and approves the content of this news release. He has also reviewed QA/QC, sampling, analytical and test data underlying the information. About Thor Explorations Thor Explorations Ltd. is a mineral exploration company engaged in the acquisition, exploration, development and production of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor Explorations holds a 100% interest in the Segilola Gold Project located in Osun State, Nigeria and has a 70% economic interest in the Douta Gold Project located in south-eastern Senegal. Thor Explorations trades on AIM and the TSX Venture Exchange under the symbol "THX". THOR EXPLORATIONS LTD. Segun Lawson President & CEO For further information please contact: Thor Explorations Ltd Investor RelationsEmail: Canaccord Genuity (Nominated Adviser & Broker)Henry Fitzgerald-O'Connor / James Asensio / Harry ReesTel: +44 (0) 20 7523 8000 Hannam & Partners (Broker)Andrew Chubb / Matt Hasson / Nilesh Patel / Franck NganouTel: +44 (0) 20 7907 8500 BlytheRay (Financial PR) Tim Blythe / Megan Ray / Said Izagaren Tel: +44 207 138 3204 Yellow Jersey PR (Financial PR) Charles Goodwin / Shivantha Thambirajah / Zara McKinlayTel: +44 (0) 20 3004 9512 Appendix 1Guitry Drilling Results(>5 gram-metres, 0.3g/tAu cut off, Minimum Interval 3m, Maximum Internal Waste 3m) Hole ID Easting Northing RL Depth Dip Azimuth From (m) To (m) Interval (m) Grade (g/tAu) True Width (m) GURC25-208 240488 605214 224 78 -55 225 0 14 14.0 2.59 11.9 GURC25-209 240509 605235 233 96 -55 225 38 42 4.0 6.87 3.4 GURC25-210 240354 605221 211 72 -55 226 0 10 10.0 0.62 8.5 GURC25-210 46 57 11.0 1.07 9.4 GURC25-210 59 64 5.0 0.64 4.3 GURC25-211 240375 605242 218 102 -55 225 0 7 7.0 0.61 6.0 GURC25-211 67 73 6.0 0.35 5.1 GURC25-211 81 90 9.0 1.34 7.7 GURC25-212 240467 605405 243 72 -55 226 2 10 8.0 0.70 6.8 GURC25-212 25 30 5.0 7.48 4.3 GURC25-212 64 69 5.0 0.32 4.3 GURC25-213 240488 605426 242 96 -55 225 nsr0.0 GURC25-214 240603 605396 240 78 -54 225 57 67 10.0 10.36 8.5 GURC25-215 240619 605418 252 102 -54 225 70 75 5.0 3.21 4.3 GURC25-216 240640 605358 252 66 -56 226 45 52 7.0 3.93 6.0 GURC25-216 57 62 5.0 0.37 4.3 GURC25-217 240654 605382 237 60 -55 225 3 8 5.0 1.05 4.3 GURC25-218 240657 605374 264 138 -55 225 5 15 10.0 0.54 8.5 GURC25-219 240581 605458 245 150 -55 225 10 20 10.0 0.97 8.5 GURC25-219 82 85 3.0 14.50 2.6 GURC25-220 240524 605393 259 108 -55 225 2 10 8.0 0.35 6.8 GURC25-220 60 64 4.0 1.65 3.4 GURC25-220 86 94 8.0 0.72 6.8 GURC25-221 240500 605382 241 84 -55 225 0 4 4.0 0.50 3.4 GURC25-221 77 84 7.0 7.11 6.0 GURC25-222 240439 605440 245 114 -55 225 3 8 5.0 2.38 4.3 GURC25-222 66 69 3.0 2.50 2.6 GURC25-223 240449 605455 239 132 -55 225 11 14 3.0 0.93 2.6 GURC25-223 43 50 7.0 0.43 6.0 GURC25-223 87 92 5.0 3.17 4.3 GURC25-224 240676 605401 245 108 -55 225 5 9 4.0 0.40 3.4 GURC25-224 80 82 2.0* 16.90 1.7 GURC25-224 98 97 2.0* 3.12 1.7 GURC25-225 240690 605347 237 120 -55 225 7 12 5.0 0.57 4.4 GURC25-226 240674 605333 251 108 -55 225 nsr GURC25-227 240397 605263 233 144 -55 225 0 6 6.0 0.83 5.1 GURC25-227 114 127 13.0 3.46 11.0 GURC25-228 240528 605258 256 108 -55 225 0 6 6.0 0.39 5.1 GURC25-228 69 74 5.0 12.65 4.3 GURC25-229 240496 605289 247 114 -55 225 0 17 17.0 2.16 14.5 GURC25-230 240573 605381 253 156 -55 225 pendingGURC25-231 240565 605358 224 160 -55 225 pendingGURC25-232 240599 605321 242 144 -55 225 pendingGURC25-233 240614 605341 249 120 -55 225 pendingGURC25-234 240647 605433 242 150 -55 225 pendingGURC25-235 240443 605385 242 144 -55 225 pending*Below Minimum Interval criteria NOT FOR DISSEMINATION IN THE UNITED STATES OR FORDISTRIBUTION TO U.S. WIRE SERVICES To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
21-07-2025
- Business
- Reuters
FTSE 100 closes higher, buoyed by miners
July 21 (Reuters) - The UK's FTSE 100 closed higher on Monday, led by gains in mining stocks, with investor focus on the Bank of England's policy path. The internationally oriented FTSE 100 (.FTSE), opens new tab closed 0.2% higher. Precious metal miners (.FTNMX551030), opens new tab rose 3.4% to lead the gains among UK sectors, tracking a rise in gold prices. Endeavour Mining (EDV.L), opens new tab gained 4.1%, while Fresnillo (FRES.L), opens new tab advanced 3.6%. Industrial miners (.FTNMX551020), opens new tab rose 3.1%, tracking a rise in iron ore and steel prices after China announced the start of construction on its mega-dam project in Tibet, which is expected to drive significant demand for construction-grade steel. Glencore (GLEN.L), opens new tab gained 3%, Anglo American (AAL.L), opens new tab rose 3.3%, Antofagasta (ANTO.L), opens new tab advanced 4.7%, and Rio Tinto (RIO.L), opens new tab up 2.7%. Media stocks (.FTNMX403010), opens new tab were the laggards on the index with a 1.1% fall. Informa (INF.L), opens new tab fell 1.7%. The aerospace and defence index (.FTNMX502010), opens new tab lost 1%, led by a 2% fall in BAE Systems (BAES.L), opens new tab. The domestically oriented midcap FTSE 250 index (.FTMC), opens new tab rose 0.5%, with biotech group Oxford Nanopore Technologies (ONT.L), opens new tab rising 19.2%, highest since January 2024, on higher half-year revenue expectations. Conversely, MONY Group (MONY.L), opens new tab fell 6.9% after the British price comparison platform's first-half gross margin dropped to 66% from 68% a year ago. Traders are currently pricing an 85% chance of a 25-basis-point BoE cut next month, as per data compiled by LSEG. Meanwhile, a Deloitte survey showed British consumer sentiment had a marked fall for the first time in nearly three years last month, reflecting increased worries about job security. The Bank of England has asked some lenders to test their resilience to potential U.S. dollar shocks, three sources told Reuters. In corporate updates, BP (BP.L), opens new tab named Albert Manifold, the former boss of building materials producer CRH (CRH.N), opens new tab, as its new chairman on Monday. The Financial Times reported on Sunday that London Stock Exchange Group (LSEG.L), opens new tab is weighing whether to launch 24-hour trading and is looking into the practicalities of increasing its trading hours. Shares of LSEG were down 1.6%.
Bloomberg
08-07-2025
- Business
- Bloomberg
Canadian Mining Magnate Seeks US Projects as Trump Deregulates
Canadian mining magnate Frank Giustra is scouring for projects in the US as President Donald Trump cuts red tape and the outlook for metals like copper and gold remains bright. Giustra — a key figure in the creation and development of Endeavour Mining Corp., Goldcorp and Leagold Mining Corp. over the past quarter century — has built up another stable of projects from Colombia to Botswana. Now, his office staffed by 75 to 80 people is exploring opportunities in US copper-gold deposits, among others.
Zawya
01-07-2025
- Business
- Zawya
UK shares edge down with focus on company news, rate path
London's main stock indexes edged lower on Tuesday, with last week's relief rally driven by the Israel-Iran truce coming to an end, as investors assessed a mixed bag of company news. The internationally oriented FTSE 100 fell 0.2% by 1025 GMT, while the domestically focussed midcap index slipped 0.1%. Midcap stocks ended June by logging their best quarter in over four years while the blue-chip index logged monthly losses. Gains on Tuesday were led by precious metal stocks that rose 2.1% with safe-haven gold edging up on a weaker dollar and U.S. tariff uncertainty. Endeavour Mining and Fresnillo were among the top gainers on the blue-chip, adding 1.8% and 2.2%, respectively. Hochschild Mining gained 3.2% on the midcap index. Meanwhile, losses were led by the household goods and home construction index, which was down 1.6%. Barratt Redrow, Taylor Wimpey and Bellway all slipped over 2%. Bank of England Governor Andrew Bailey stressed on Britain's softening labour market and pointed to rising uncertainity in global economy hurting economic growth and investment intentions. Traders are currently pricing in a 76% chance of a rate cut from the BoE in August. Meanwhile, S&P's manufacturing PMI data showed that the sector improved for the third month in a row, but remained below the growth threshold as businesses increased prices to offset higher labour costs. In individual stocks, food retailer Sainsbury's shares slid 1.3% despite reporting a higher-than-expected rise in quarterly sales. Standard Chartered Bank shares fell 2.7% after liquidators for Malaysia's sovereign wealth fund 1MDB sued the bank in Singapore alleging fraud that led to more than $2.7 billion in losses more than 10 years ago. Packaging automation firm Mpac Group shares slumped 25% after the company warned of lower-than-expected annual results due to U.S. tariffs weighing on orders. In company news, Britain's competition watchdog cleared Aviva's 3.7-billion-pound ($5.08 billion) takeover of smaller rival Direct Line that will create the UK's largest home and motor insurer. Shares of Direct Line were marginally up.
