Resolute Mining Limited’s (ASX:RSG) maiden underground gold reserve of 850,000 ounces at the Tabakoroni deposit of Syama project in Mali provides strong support for a future underground mine.
The 5.2 million tonnes underground resource at a grade of 5.1 g/t gold is within an updated Tabakoroni resource of 6.3 million tonnes at 5.1 g/t for 1.03 million ounces, net of mining depletion.
This grade represents an increase of more than 120% from the existing grade of 2.3 g/t.
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Resolute’s managing director and CEO John Welborn said the company was encouraged by the resource update and particularly pleased with the identification of coherent high-grade zones expected to support a future underground operation.
“Excellent outcome”
“Achieving our target of a million ounces of resources at Tabakoroni at above 5 g/t of gold is an excellent outcome from the consistently excellent exploration drilling results we have been announcing over the past 12 months.
“The exceptional high-grade intersections from recent drilling results have confirmed a large increase in the size and grade of Tabakoroni which reinforces the value of our ongoing investment in exploration of Resolute’s extensive Syama tenure.”
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This updated resource has been independently estimated in accordance with the JORC Code 2012 and incorporates results from the ongoing Tabakoroni diamond drilling program.
Drilling underneath the Tabakoroni oxide mineralisation intersected high-grade gold in a number of locations during 2018 with positive results leading to an accelerated resource drilling program.
The deposit is open in all directions with results continuing to increase the dimensions of high-grade sulphide zones.
Further depth potential
Resolute has delineated mineralisation to a modest depth of around 250 metres and is confident that there is significant further depth potential.
Tabakoroni longitudinal section with mineral resource model and drill hole pierce points.
Ongoing infill and extensional drilling is expected to extend the Tabakoroni underground resource through further systematic exploration of more than 1.8 kilometres of strike length of identified mineralisation.
Two rigs are targeting the down plunge extensions of the defined mineral resources and this program will continue throughout 2019.
Underground study underway
The company has started an underground mining study including technical assessments and metallurgical test work to support the near-term development of a new underground mine.
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Welborn said: “Tabakoroni is an important growth opportunity for Resolute which is allowing the company to leverage our extensive processing infrastructure at the Syama complex.
“Open pit mining at Tabakoroni is exceeding expectations with high-grade ore mined in the March 2019 quarter resulting in record production from the Syama oxide processing circuit.
“The expansion of Resolute’s regional operating footprint and the successful construction and commissioning of the Tabakoroni all-weather haul road further enhances the Syama complex’s future production and cost profile.”
Tabakoroni is within the Finkolo permit, 35 kilometres south of the Syama processing plant in southern Mali.
Resolute has updated the resource for the Tabakoroni deposit to 1.03 million ounces.
Open pit mining operations began at Tabakoroni in the September 2018 quarter with high-grade oxide and transitional material being mined and processed through the 1.5 million tonnes per annum Syama oxide circuit.