The ore reserves at Resolute Mining’s Syama gold mine in Mali have remained constant as exploration success at Tabakoroni was offset by a combination of mining depletion, mineral resource model changes and the application of variable cut-off grades.
The culmination of successful exploration and the completion a pre-feasibility study has led to the declaration of a maiden underground ore reserve at Tabakoroni of 2.9 million tonnes (Mt) at 4.6 grams per tonne (g/t) gold for 430 000oz. Continued exploration success and resource conversion drilling are expected to increase this ore reserve during 2021.
Open pit extractable oxide ore reserves at Syama remained consistent with 2019 and total 150 000oz. Successful conversion of mineral resources to ore reserves continues to extend the Life of Mine (LOM) of the Syama oxide operation. Continuation of the exploration program remains a key focus for 2021.
The company’s Mako gold mine, which was acquired by Resolute in August 2019, was reoptimised in 2020 and an updated LOM was announced on 20 July 2020. This re-optimisation has led to an increase in ore reserves from December 2019 after stockpile movement and mining depletion.
At the Bibiani gold mine in Ghana, the ore reserves remained unchanged from the previous reporting period.
Resolute’s asset ownership is 80% of Syama (Mali Government 20%), 90% of Tabakoroni (Mali Government 10%), 90% of Mako (Senegalese Government 10%) and 90% of Bibiani (Ghana Government 10%). As such, the company’s fully attributable ore reserves position net government interests, is 4Moz of gold.