Name and Location
Bibiani underground gold redevelopment project, Ghana.

Client
Resolute Mining.

Project Description
The results of Resolute’s first pass underground scoping study has delivered an underground mining inventory of 4.3-million tonnes grading 4.2 g/t of gold, at a 3.25 g/t gold cutoff for 574 000 oz, close to the existing underground decline and level development requiring minimal development capital expenditure.

Other key results from the study that support a redevelopment of the underground mine include:
• observed stable underground geotechnical conditions, which support long-hole stoping mining methods;
• an extensive orebody strike length, with potential for further economic ore zones as project development continues;
• existing level development available on the 7, 8 and 9 levels provide early access at low capital cost to potential stoping blocks while evaluation work and mine development continues into new areas; and
• an established operating site with a processing plant and associated facilities, including grid-connected power, reducing any significant capital costs.

Net Present Value/Internal Rate of Return
Not stated.

Value
The scoping study indicates a positive gold project, with a $30-million start-up capital risk and a short payback – $15-million will be required for underground development and a further $15-million for plant and infrastructure upgrades.

Duration
Not stated.

Latest Developments
Resolute plans to complete a feasibility study on the project in mid-2016.

Aspects of the feasibility study, including a geotechnical evaluation to support a mining method, process plant engineering studies and a metallurgical assessment are under way.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Resolute Mining, tel +61 8 9261 6100, fax +61 8 9322 7597 or email contact@rml.com.au.