Resolute Mining maintains mineral resources owing to exploration success
ASX- and London-listed Resolute Mining has published its Annual Ore Reserve and Resource Statement as at December 31, 2023, which indicates that total mineral resources have been maintained at 11.2-million ounces of gold.
This comes as exploration success at Syama North, in Mali, and Tomboronkoto, in Senegal, had offset mining depletion.
Total ore reserves decreased marginally to 4.4-million ounces, from 4.6-million ounces in December 2022, in line with expectations, owing to mining depletion across both operations.
Syama North’s ore reserves increased by over 17% to one-million ounces, while measured and indicated mineral resources increased by 47% to 2.7-million ounces following successful drilling campaigns last year.
Mineral resources in Senegal increased significantly following the maiden mineral resource estimate (MRE) at the Tomboronkoto satellite deposit of 403 000 oz grading 1.2 g/t gold.
“These results are in line with our expectations given the work we are conducting on our growth projects,” says MD Terry Holohan.
“At Syama, the exploration teams have been focussed on the infilling of the 3.5-million-ounce Syama North project, raising the measured and indicated resource to over 2.7-million ounces, with mining [to start] later this year.
“We are also conducting detailed mine optimisations with an uplift in our ore reserve estimate to one-million ounces and we expect further increases going forward.
“At Mako, the drilling of the first of our three major mineralisation satellite targets, Tomboronkoto, we recently published a maiden MRE of 403 000 oz and drilling is continuing,” he points out.
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