Resolute Mining maintains gold mineral resources in Mali, Senegal
Resolute Mining reported that its total gold mineral resources remained steady at 11.2 million ounces. This stability was attributed to exploration success at two assets, Syama North in Mali and Tomboronkoto in Senegal.
While total gold ore reserves marginally decreased from 4.6 million ounces to 4.4 million ounces compared to December figures, this was expected due to mining depletion across operations. Ore reserves at Syama North increased by over 17% to 1.0 million ounces.
Mineral resources
Additionally, measured and indicated mineral resources at Syama North surged by 47% to 2.7 million ounces following successful drilling campaigns in 2023. First mining at this location is anticipated to commence later in the year.
Significant growth was observed in mineral resources in Senegal following the maiden mineral resource estimate at the Tomboronkoto satellite deposit, which comprises 403,000 ounces grading 1.2 grams per tonne. Mining’s CEO and Managing Director, Terry Holohan, expressed optimism about further increases in ore reserve estimates, especially with detailed mine optimizations underway. Resolute Mining’s shares experienced a modest increase of 0.7% to 20.75 pence each in London following the announcement.
“We are also conducting detailed mine optimisations with an uplift in our ore reserve estimate to 1 million ounces and we expect further increases going forward. These results are in line with our expectations given the work we are conducting on our growth projects,” said Terry Holohan.
