Resolute Mining Ltd - operator of the Syama gold mine, Mali - Posts updates mineral resource estimate and announces ongoing exploration success at Tabakoroni, which has enabled completion of a pre-feasibility study assessing the potential for a new underground gold mine at Tabakoroni to augment gold production at Syama. Tabakoroni mineral resource updated to 7.4 million tonnes at 4.4 grams per tonne for 1.04 million ounces of gold, up 22% from previous estimate. The exploration programme at Tabakoroni continues with further assay results from recent drilling not yet included in updated mineral resource estimate. Results from new drilling underneath updated resource at Tabakoroni Deeps include hole TADD780, with 7 metres at 10.5 grams of gold per tonne of ore from 405 metres. Results from shallow oxide reverse circulation drilling at new zones of surface gold mineralisation at Tabakoroni Porphyry Splay include 8 metres at 5.0 grams per tonne from 61 metres.
Managing Director & CEO, John Welborn said: "The Tabakoroni underground study provides confidence that we will be able to transition current Syama Oxide gold production, based on Syama satellite open pit mining, to similar annual levels of production based on a Tabakoroni underground operation. Further detail on our plans for Syama will be published in an updated Syama Life-of-Mine plan which will be completed during the current quarter."
Current stock price: 55.24 pence
Year-to-date change: down 20%
By Anna Farley; annafarley@alliancenews.com
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Resolute Mining (RSG)