07:24 AM EDT, 05/27/2024 (MT Newswires) -- Perseus Mining ( PMNXF ) reported early Monday exploration results from the Meyas Sands gold project (MSGP) in Sudan.

Highlights include 4.1 meters at 5.48 grams per tonne (g/t) gold from 181.9 meters, including 2.1 meters at 9.42 g/t gold from 181.9 meters.

"The confirmatory drilling results that have been achieved by our team to date at MSGP are very encouraging and we are now looking forward to returning further strong results that will lead to the conversion of the published foreign reserve estimate for MSGP into an updated ore reserve reported in accordance with JORC 2012 on which a FEED study can be confidently based," Chairman and CEO Jeff Quartermaine said.

Perseus said it recommenced drilling at MSGP last week after suspending exploration activities in April 2023 due to the outbreak of hostilities in Sudan.

Perseus said its initial drill program at the project aims to test high-priority exploration targets in the vicinity of the GSS deposit to follow up the drilling results that have been received to date.

The company's share price gained 5.6% on Friday to $2.25.