The project is now estimated to hold 2.43 million ounces. 

 

While the bulk of the resource sits in the Morila super pit area, the N'Tiola, Viper, Morila Pit 5 Domba, and Koting satellite have increased 80% since the project was purchased in November 2020 to 6.2 million tonnes at 1.09 grams per tonne for 218,000oz, 

 

Measured and indicated satellite resources have increased 164% to 190,000oz.

 

Since taking on an 80% stake in Morila, Firefinch has recommenced a tailings recovery operation, Firefinch has completed 19,000m of drilling within the lease to better define N'Tiola, Viper, and Pit 5, plus 11,000m in its 100%-owned Massigui project, primarily at Koting, about 25km away.

 

The satellite pits are all within easy trucking distance of the mill, and are expected to provide early feed to the refurbished plant while Firefinch develops its Morila "super pit" plan.

 

In the coming days Firefinch will use its new 1.31Moz measured and indicated resource to finalise its maiden reserves statement, and a new life of mine plan, with recommissioning of the 4.5Mtpa mill expected by the end of June. 

 

Pre-stripping of the Morila super pit is expected to begin early in 2022.

 

The miner produced 9970oz from tailings last quarter, and is seeking to ramp production towards 90,000ozpa.  

 

Drilling is continuing.

 

Firefinch shares were around 6c one year ago, but touched a 12-month high of 39c on Friday, closing at 38c, valuing it at $298 million.