Perseus Mining Limited has reported encouraging drilling results from its ongoing resource definition program at the Nyanzaga Gold Project in Tanzania. The latest update, issued on 22 July 2025, details that since the previous announcement in December 2024, the company has drilled 35,623 meters using a combination of reverse circulation (RC) and diamond drilling (DD) into the Tusker and Kilimani deposits. Since acquiring the project in April 2025, total drilling has reached 58,609 meters. The program is not only designed to infill existing data but also to capture metallurgical and geotechnical information while evaluating potential strike and depth extensions. The drilling has improved the average spacing across the deposit from 40 by 40 meters to a tighter nominal 20 by 40 meter pattern. Several high-grade intercepts have been recorded across the Tusker deposit – for example, drill holes have returned intervals such as 51 meters grading 4.43 grams per tonne (g/t) gold, 36 meters at 6.28 g/t, and other significant intercepts comprising narrow intervals of very high values exceeding 40 g/t in parts. These technical indicators support the company’s confidence in its ability to expand both Mineral Resources and Ore Reserves, reinforcing the prospect of extending the mine life beyond the current estimated 11 years. Perseus Mining’s CEO, Jeff Quartermaine, highlighted that the final investment decision made in April 2025 was based on early resource confirmation, and this second phase of drilling is critical in upgrading the project’s resource base ahead of the planned commencement of gold production in January 2027. Additional geotechnical, metallurgical, and sterilisation drilling is underway, and these results will feed into an updated Ore Reserve statement scheduled for release in the March 2026 quarter. The technical achievements point to a promising outlook. Bullish sentiment stems from the strong assay results, improved drill spacing, and promising indications of mineralisation beyond the open pit design that may allow for underground extraction methods, potentially enhancing project economics and extending mine operational life. On the other hand, some caution remains as further drilling is needed to confirm extensions at depth, and final resource upgrades depend on continued success in geotechnical and metallurgical studies. Overall, the news positions the Nyanzaga Gold Project as a potentially compelling growth asset for Perseus Mining Limited in the competitive gold mining sector.