Perseus Provides an Update on the Multi-Billion Meyas Sand Gold Project in Sudan: Expected to Produce 280,000 Ounces of Gold Annually

Home » Projects » Perseus Provides an Update on the Multi-Billion Meyas Sand Gold Project in Sudan: Expected to Produce 280,000 Ounces of Gold Annually

The renowned mining company Perseus has provided an update on its progress in Sudan’s multi-billion Meyas Sand Gold Project. Since acquiring the project in May 2022, the Australian company has focused on developing the Galat Surfur South (GSS) deposit. It has also conducted infill resource definition and underground surveys of the area alongside geotechnical work. This is in preparation for the inclusion of data in a Front-End Engineering and Design (FEED) study. It also prepares the company for the project’s Final Investment Decision (FID). Progress on the Meya Sands gold project came to a standstill with the outbreak of hostilities in Sudan in April 2023. Exploration activities on the site were temporarily suspended, but Perseus is slowly resuming work. The company’s personnel have re-established facilities to support on-site exploration activities. They also aim to provide in-house security teams at the camp for those residing there.

The Significance of the Meya Sands Gold Project in Sudan

The Meya Sands Gold Project in Sudan is one of the most significant projects in the country, with the backing of the Sudan government. Perseus gladly announced that drilling at the gold site has recommenced officially with the restoration work well advanced. This initial drilling program aims to test high exploration priority targets near the GSS depot. The drilling results are expected to be a follow up on prior results that have been acquired to date.
These results will confirm the grade and tenor of the deposit, and although the results are incomplete, they seem to show promise. The project is highly significant to Sudan as its government holds 30% of the shares while Perseus holds the majority. However, the government will receive its share of the profits and revenue from the mining expedition. The funds are expected to be channelled to other necessary areas of Sudan’s economic landscape to boost them. In turn, this will increase the living standards of those living in Sudan, having been ravished by war for long.

The Setbacks that Perseus Faced in the Gold Project in Sudan

One of the major challenges Perseus has faced in the Meya Sands Gold Project is its temporary stall because of the war. The outbreak of hostilities in the south and west of Sudan in 2023 represented a serious setback for Perseus’s ambitions. However, the recent recommencement of drilling activities is considered a positive step forward that hopefully will lead to the project’s development when peace is finally restored throughout the country. Meya Sands Gold Project

The company also remains hopeful about the prospects that the project has to offer and is pleased to be part of it. Perseus’s Chairman and CEO, Jeff Quartermaine, said, “When Perseus acquired the Meyas Sand Gold Project in 2022 through the acquisition of Orca Gold Inc, we were very excited. The prospects of developing a large scale, low cost, long life gold mine in northern Sudan would add a further high quality mine to Perseus’s multi mine, multi-jurisdiction asset portfolio.”

Other Major Projects Currently Ongoing in the Sudan Region

One of the major constructions currently ongoing in Sudan is constructing the multi-billion Ramciel City in South Sudan. The South Sudan government recently noted that the project had stalled, but its implementation is ongoing. One of the major challenges causing the project to stall is frequent outbreaks of wars and the shortage of funds. The vice president of South Sudan, Taban Deng Gai, appealed to international investors to help fund the country’s new proposed capital city. Located in Lakes State, South Sudan, signed a construction agreement in 2017 with Morocco to kickstart the project.

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