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Resolute Mining Ltd.
Summary
| Project: | Bibiani | |
|---|---|---|
| Deposit: | Bibiani | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 2/13/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 13-2-2019: Resolute Mining Ltd. announces a Resource Estimation report for its Bibiani deposit at the Bibiani project. Annual statement of mineral resource and reserve at Bibiani. Resolute Mining Limited (ASX: RSG, Resolute or the Company) is pleased to a | |
| Resources: | (Reserve, Prob.): 6.40Mt @ 3.3g/t Au for 660Koz Au contained | |
| CP/QP: | [Resources]: Kahan Cervoj (Optiro Pty Ltd.) | |
| ABSTRACT: | Resolute Mining Limited (ASX: RSG, Resolute or the Company) is pleased to announce the Company’s Annual Ore Reserve and Mineral Resource Statement as at 31 December 2018. Global Ore Reserves have been maintained at 5.8 million ounces (Moz) of gold and Global Mineral Resources have been maintained at 16.6Moz of gold. Global Ore Reserves and Global Mineral Resources include, on a 100% basis, gold inventories managed and controlled by Resolute (referred to below as Managed Ore Reserves and Managed Mineral Resources respectively) and, on an attributable basis, gold inventories held within the Company’s strategic equity investments. These balances are consistent with the Company’s previously published position as at 30 June 2018 (see ASX Announcement dated 16 August 2018). A detailed breakdown of the Company’s Ore Reserves and Mineral Resources as at 31 December 2018 is presented in the tables below. The 2018 Annual Ore Reserve Statement is included at Table 4 and the 2018 Annual Mineral Resource Statement is included at Table 5. On a fully attributable basis, recognising Resolute’s direct share as at 31 December 2018, the Company held Ore Reserves of 5.1Moz and Mineral Resources of 14.8Moz. Managing Director and CEO, Mr John Welborn, was pleased to confirm Resolute’s updated Ore Reserves and Mineral Resources Statement maintained the Company’s peer group leading gold inventory: “Resolute’s Ore Reserves and Mineral Resources at Syama, Ravenswood and Bibiani underpin our focus on long life mines and support our ambition to produce more than 500,000 ounces of gold annually. Our investment in exploration continues to create value by increasing the range and quality of our mineral resources. Resolute is a profitable dividend paying gold miner with a unique and growing gold inventory.” “Resolute controls six million ounces of gold in Ore Reserves which are located immediately beneath existing mills and processing plants which we own and operate with strong recoveries. The Company is commissioning the world’s first, purpose built, fully automated sublevel cave gold mine at Syama which will be powered by the world’s largest site-based hybrid power plant. The ongoing expansion of our gold reserves and resources, coupled with successful implementation of industry leading technologies, will provide opportunities for growth in production and greater gold value per Resolute share.” | |
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