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Resolute Mining Ltd.
Summary
| Project: | Syama | |
|---|---|---|
| Deposit: | Syama | |
| Location: | Mali | |
| Commodities: | Gold | |
| Date: | 8/1/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 1-8-2016: Resolute Mining Ltd. announces an Exploration/Drilling Update report for its Syama deposit at the Syama project. Drilling results incl. 62m @ 6.71g/t Au from 651m. Resolute Mining Limited (Resolute or the Company) (ASX:RSG) is pleased to report | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Richard Bray; Andrew Goode (Internal) | |
| ABSTRACT: | Resolute Mining Limited (Resolute or the Company) (ASX:RSG) is pleased to report new broad high grade results from deep drilling at the Syama Gold Mine (Syama) in Mali. The Syama deep drilling program was commenced in late 2015 with the ambition of substantially expanding the Syama underground resource. Positive results have been previously reported for the first two drill holes of the program (refer to ASX announcements dated 8 February 2016 and 9 March 2016). Results have been received from a further seven holes with significant intercepts demonstrating mineralisation at Syama remains open to the north and south at depth. The results highlight the potential for substantial future resource growth. Resolute’s Managing Director and CEO, Mr John Welborn, was delighted by the positive exploration results: “Syama is a world class orebody and these results highlight the exceptional size and quality of the deposit. Resolute has commenced development of an underground mine at Syama which the recently released Definitive Feasibility Study demonstrated will deliver strong margins for Resolute over an operating life of more than 12 years. Site production from Syama is expected to reach 250kozpa based on our existing models. The DFS is based on the current underground reserve which has not yet been updated with results reported from the deep drilling program. We expect to materially increase the Syama underground resource in due course. In addition to opportunities for a substantial increase in the already impressive mine life, we will consider the potential to expand future production.” | |
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