Resolute updated the market with the exceptional drilling results from the ongoing exploration program at the Tabakoroni Project (Tabakoroni) that is located 35km south of the Syama Gold Mine (Syama) in southern Mali and it is expected that this exploration program at Syama will create a new growth story for Resolute. The Group announced the highest grade intersection ever reported from Syama in more than 30 years of exploration by Resolute, Randgold, and BHP. As Syama is already a 10 million ounce (Moz) ore position and these results confirm that its resource base will continue to grow. Drilling has continued at Syama Deeps and Nafolo to further expand the resource footprint. The drilling extended the Nafolo alteration and mineralisation footprint for a distance of 700m and remains open to the south. Moreover, the drilling program along strike to the south has identified low-grade zones of similar alteration and mineralisation to Syama and it is expected that this program will continue throughout FY19.
It is expected that an infill diamond drilling program will provide an updated Nafolo Mineral Resource Estimate by the end of the current financial year. Currently, there is an ongoing drilling program happening at Tabakoroni to fully define the new zones with two diamond drill rigs in operation and an updated and expanded Mineral Resource Estimate for Tabakoroni, including a maiden underground mineral resource, will be available later in 2018. Further, a new zone of gold mineralisation was recently identified northeast of Tabakoroni and till now results have been encouraging with discontinuous but high-grade intersections reported in numerous drill holes. After this, the stock went up by 3.66 per cent to $1.415 (as on 5 July 2018; 03:20 PM AEST).
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