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Resolute Mining Ltd.
Summary
| Project: | Ravenswood | |
|---|---|---|
| Deposit: | Ravenswood | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 16-8-2018: Resolute Mining Ltd. announces a Resource Estimation report for its Ravenswood deposit at the Ravenswood project. Annual statement of mineral resources and ore reserves at Ravenswood. Resolute Mining Limited (ASX: RSG, Resolute or the Company) | |
| Resources: | (Reserve, P+P): 66.59Mt @ 0.8g/t Au for 1.730Moz Au contained at project | |
| CP/QP: | [Resources]: Nicholas Johnson (MPR Geological Consultants Pty Ltd.) | |
| ABSTRACT: | Resolute Mining Limited (ASX: RSG, Resolute or the Company) is pleased to announce significant increases in the Company’s Annual Group Ore Reserve and Mineral Resource Statement as at 30 June 2018. Global Ore Reserves increased by 17% to 5.9 million ounces (Moz) of gold, while Global Mineral Resources (inclusive of Ore Reserves) increased by 35% to 16.5Moz. Global Ore Reserves and Global Mineral Resources include, on a 100% basis, gold inventories managed and controlled by Resolute and, on an attributable basis, gold inventories held within the Company’s strategic equity investments. A detailed breakdown of the Company’s Ore Reserves and Mineral Resources as at 30 June 2018 are presented in the tables included below. The 2018 Annual Ore Reserve Statement is included at Table 10 and the 2018 Annual Mineral Resource Statement is included at Table 11. On a fully attributable basis, recognising Resolute direct share as at 30 June 2018, the Company held Ore Reserves of 5.2Moz and Mineral Resources of 14.7Moz. Managing Director and CEO, Mr John Welborn, congratulated Resolute’s exploration teams on the impressive growth in available Mineral Resources, and commended the study and projects team who have defined new long life low cost production opportunities based on larger Ore Reserves at Syama, Ravenswood, and Bibiani: “Resolute is a profitable dividend paying gold miner. Our updated Mineral Resource and Reserve Statement underpins the Company’s portfolio of long life mines and our ability to achieve targeted production growth. Exploration success is driving genuine value creation by enabling the development of more efficient lower cost longer life gold mines. We will continue to make focused investments to discover and define gold resources that we can efficiently mine, process, and market for the benefit of our shareholders. | |
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