Resolute Mining Limited (ASX: RSG, Resolute or the Company) is pleased to report the Company’s Annual Group Ore Reserve and Mineral Resource Statement as at 30 June 2017. Group Ore Reserves are maintained at 5.3 Moz of gold. The Company’s combined Reserve and Resource inventory as at 30 June 2017 totaled 12.0 Moz of gold. The appended 2017 Reserves and Resources Statement provides a detailed breakdown of Resolute’s substantial gold inventory.
Managing Director and CEO, Mr John Welborn, was pleased Resolute’s updated Resource and Reserve statement confirmed the Company’s large and robust gold inventory:
“We aim to operate profitable long-life gold mines and this is supported by our track record of successful exploration and feasibility studies. Our team have increased Resolute’s Reserve base by approximately 300,000 ounces, despite mining and stockpile depletion of 307,000 ounces during the financial year. This result was primarily achieved through the addition of the Buck Reef West deposit to our Reserve base at Ravenswood and does not yet include the exciting drilling results we are receiving from our exploration programs at Syama and Bibiani. Further growth is expected and work has commenced on updating the Company’s Resource estimates to include recent exploration results at the Tabakoroni and Nafolo deposits in Mali, in addition to the phase two drilling campaign at Bibiani. Resolute has an expansive ongoing exploration program and expects to announce updated Resources and Reserves for these deposits during the current financial year. We are particularly excited by the ongoing drilling at Nafolo, the new discovery alongside the main Syama orebody, and the prospect of announcing a maiden Resource. Further Resource growth and Reserve conversion supports our ambitions to expand production and build on our strong track record of continuous gold production since 1988.”
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