Resolute Mining has reported a 47% surge in the measured and indicated resources at its Syama North gold project in Mali.
After an extensive drilling campaign in the first half of 2023, the project's measured and indicated resource is now estimated at 2.72 million ounces, with a gold grade of 3 g/t.
“The infill drilling programme at Syama over the first half of 2023 was an outstanding success, with a 47% increase in the measured and indicated resources,” said Resolute chief executive Terry Holohan.
“Having 2.7 million ounces in the measured and indicated categories will further enhance our Phase I Expansion project at Syama, which is on track for commissioning in the first half of 2025.”
The expansion project, estimated at A$40–50 million ($26–32,3 million), will increase the annual production to 250,000 ounces, with a solid foundation provided by Syama North.
“We have been rewarded for our recent investment in exploration with significant increases in mineral resources and ore reserves at Syama being able to support an expanded operation over an extended mine life,” he said.
“Such recent shallow discoveries confirm the Syama Greenstone Belt under our control remains vastly underexplored and capable of further significant expansions.”
Holohan said that while they continue with the front-end engineering design and acquiring equipment for the Phase I Expansion, they recently commenced a study on the Phase II Expansion programme, which will be supported by the ongoing exploration programme.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
