The Houndé project is located 250 km southwest of Ouagadougou, the capital city of Burkina Faso. Infrastructure in the area includes a paved highway approximately 2.7 km from the mine site, a 225 kV power line as close as 200 metres in some areas and a rail line that extends to the port of Abidjan, Côte d’Ivoire approximately 25 km west of the deposit area.
The mine reached commercial production in November 2017 and Houndé is one of Endeavour’s cornerstone assets, ranking amongst West Africa’s top tier cash generating mines. Houndé is an open-pit mine with a 3.0 Mt per year gravity circuit and carbon-in-leach plant. Gold recoveries average 93%.
The mineralization at Houndé is within the highly productive and prospective Birimian Greenstone Belt and occurs mainly as quartz stockwork-style. The Vindaloo trend will receive an exploration program of $7.0 million planned for 2023, focused on extending the mineralization of Vindaloo Southeast along strike and delineating underground resource potential at the Vindaloo Deeps and Kari West deposits.
In a March 2023 news release, Endeavour stated that Houndé hosts a Proven and Probable Mineral Reserve containing 2.73 Moz gold in 54.0 Mt grading 1.6 g/t gold (0.5 g/t cut-off). The Measured and Indicated Resources contain 4.68 Moz gold in 93.4 Mt at a grade of 1.6 g/t gold (0.5 g/t cut-off inclusive of Reserves). The Resource Estimate is effective as of December 31, 2022. The Sandstorm royalty does not cover the entire mining operation, and we do not have current information pertaining to the specific updated Reserves and Resources of the Sandstorm interest.