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Resolute Mining Ltd.
Summary
| Project: | Syama | |
|---|---|---|
| Deposit: | Syama Underground | |
| Location: | Mali | |
| Commodities: | Gold | |
| Date: | 7/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 3-7-2018: Resolute Mining Ltd. announces a Feasibility Study report for its Syama Underground deposit at the Syama project. DFS results incl. reduced sustaining cost of US $ 746/oz Au, 16 yr LOM, and updated ore reserve. Resolute Mining Limited (ASX:RSG) | |
| Resources: | (Reserve, Prob.): 35.2Mt @ 2.7g/t Au for 3.0Moz Au contained at Syama Underground | |
| CP/QP: | [Overall Report]: Ian Bignell (Internal) | |
| ABSTRACT: | Resolute Mining Limited (ASX:RSG) (Resolute or the Company) is pleased to announce an update (DFS Update) to the June 2016 Syama Underground Definitive Feasibility Study (Original DFS) which delivers a significant reduction in the Life of Mine (LOM) All-In Sustaining Cost (AISC) to US$746 per ounce (oz), from US$881/oz. This material cost reduction is accompanied and assisted by a 38% increase in Underground Ore Reserves to 3.0 million ounces (Moz) of gold. The DFS Update presents the results of an ongoing effort by Resolute to critically examine and pursue improvements in all aspects of our flagship operation, the Syama Gold Mine in southern Mali (Syama). A key focus has been the redesign and rescheduling of the underground mine (Syama Underground), following the 39% increase in Mineral Resources previously announced in October 2017 (refer ASX announcement 26 October 2017). The adoption of autonomous mining will result in substantially lower average mining costs, while improvements to site power generation facilities will deliver significant reductions in processing costs. Managing Director & CEO, Mr. John Welborn, was excited to see the Company’s investment in technology and exploration result in a substantial expansion to the scale, operating margins and value of Syama. “Our ambition at Syama is to transform this world gold class deposit into a world class gold mine. The updated DFS numbers capture the progress we have made in exploration, automation, and power, and confirm Resolute is transforming Syama into a robust, long life, low cost mine. We are developing a new underground mine at Syama and are on track to commence sub-level caving in December 2018. | |
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