Resolute Mining (ASX:RSG) should trade higher after revealing a series of significant high grade gold intercepts from its Bibiani Gold Project in Ghana.
Assays from surface and underground diamond drilling included 30.9 metres at 13.32g/t gold from 276.7 metres, 40 metres at 20.62g/t gold from 431 metres, 22 metres at 11.81g/t gold from 109 metres, and 24 metres at 6.52g/t gold from 118 metres.
Results to date confirm and potentially build on the existing 1.7 million ounce resource at Bibiani.
The 25,000 metre drill campaign, which is due to complete in early 2015, will be followed by new resource modelling for inclusion in a Feasibility Study on underground mining at Bibiani.
Resolute is an unhedged gold miner with two operating mines in Africa and Australia and is one of the largest gold producers by volume listed on the ASX.
Resolute’s flagship Syama project in Mali is on track for an increase in production to 270,000 ounces of gold a year following an approved expansion to be undertaken through FY2016.
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