Perseus Mining Limited (TSX: PRU) Makes TSX Top Gainers List On Updated Estimates Of Its Mineral Resources
The stock makes the TSX top percentage gainers list today in early trading following news on updated estimates of its Mineral Resources. The stock is trading at $6.59 +0.48 (+7.86%) as of this report.
HIGHLIGHTS
- Measured and Indicated (M&I) Mineral Resources now total 10.6 Moz gold reflecting a 2.9 Moz or 37% increase Proved and Probable Ore Reserves for the Group now total 7.0 Moz gold representing a 2.0 Moz or 40% increase Yaoure Ore Reserves increased by 217 koz or 15% Edikan M&I Mineral Resources increased by 834 koz or 54%
The Perseus Group's total M&I Mineral Resources reported as at 30 June 2026 are estimated to be 270.3 Mt grading 1.22 g/t gold, containing 10.6 Moz of gold, compared with the estimate of 30 June 2025 of 185.9 Mt grading at 1.30 g/t Au for 7.8 Moz of gold. The Mineral Resource Statement accounts for mining depletion of in-situ Mineral Resources and is reported inclusive of Ore Reserves. Inferred Resources are 57.5 Mt grading at 1.4 g/t Au for 2.5 Moz of gold, compared with the estimate of 30 June 2025 of 39.9 Mt grading at 1.5 g/t Au for 1.9 Moz of gold. Tonnes are reported as dry metric tonnes. All tabulated tonnes, grade and metal have been rounded to reflect appropriate precision in the estimate and may cause some discrepancies in totals.
In March 2026 Perseus announced the sale of the Meyas Sand Gold Project (MSGP) in Sudan (see news release titled "Perseus announces sale of Group interest in Meyas Sand Project in Sudan" dated 16 March 2026). This was previously quoted as a Foreign/Historical Estimate, and with Perseus's sale of all interest, has been removed from reporting in this release.
The Group Mineral Resource estimates are reported in accordance with the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code 2012). The classification categories of Measured, Indicated and Inferred under the JORC Code (2012) are equivalent to the CIM categories of the same names (CIM, 2014).
For the purpose of satisfying "reasonable prospects for eventual extraction" (JORC Code 2012), open pit Mineral Resources are reported above optimised open pit shells developed with actual and estimated operating costs, geotechnical and metallurgical parameters, and a long-term gold price assumption of US$3,300 per ounce, with the exception of Nyanzaga reported at US$2,700 per ounce. Underground Mineral Resources at CMA are constrained to below the CMA open pit and reported at a 1.5 g/t Au cut-off. Underground Mineral Resources at Edikan are constrained to a depth of 700 mRL at Esuajah South and are all exclusive of open pit Mineral Resources.
Technical Reports associated with these Mineral Resources, have been prepared in accordance with NI 43-101 for the following operations:
Nyanzaga Gold Project, Tanzania, NI 43-101 Technical Report, dated 10 June 2025
Yaoure Operations, Cote d'Ivoire, NI 43-101 Technical Report, dated 18 December 2023
Edikan Operations, Ghana, NI 43-101 Technical Report, dated 6 April 2022
Sissingue Operations, Cote d'Ivoire, NI 43-101 Technical Report, dated 29 May 2015
These reports can be found on Perseus's website at and on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website
PERSEUS'S ORE RESERVE ESTIMATECRITERIA FOR ORE RESERVE CLASSIFICATIONAll Ore Reserves are reported in accordance with the JORC Code (2012) and are reported by category, deposit and type, above variable cut-off grades. The classification categories of Proved and Probable under the JORC Code (2012) are equivalent to the CIM categories Proven and Probable respectively (CIM, 2010).
The Ore Reserve is classified as Proved and Probable corresponding to the Mineral Resource classifications of M&I and considering other factors where relevant. The deposits' geological models are well constrained. The Ore Reserve classification is considered appropriate given the nature of the deposits, the moderate grade variability, drilling density, structural complexity, confidence in input parameters based on operational experience, and mining history. It was therefore considered appropriate to use Measured Mineral Resources as a basis for Proved Ore Reserves and Indicated Mineral Resources as a basis for Probable Ore Reserves.
No Inferred Mineral Resources were included in the Ore Reserve estimate, with the exception of 2.8 koz of incidental Inferred which is included in the CMA Underground development and is not considered material to the Ore Reserve. Perseus Mining Limited (ASX/TSX: PRU) updated estimates of its Mineral Resources and Ore Reserves as of 30 June 2026. A summary of the release is included below. For the full release please refer to, or
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