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Resolute Mining Ltd on Thursday saw its shares rise, after announcing both an increased mineral resource at Mako Satellite Tomboronkoto, and an initial mineral resource at Mansala. The Africa-focused gold miner has been focusing on three potential satellite deposits in Senegal - Tomboronkoto, Bantaco and Laminia - that could extend the life of the Mako mine. Tomboronkoto is the most advanced prospect with an indicated and inferred mineral resource estimate. Total contained gold at Tomboronkoto has increased by at least 30% from the initial mineral resource estimate announced in January, reported Resolute Mining on Thursday. The estimate now comes in at over 343,000 ounces from an initial 264,000 ounces, grading 2.1 grams per tonne of gold at 1 gram per tonne cut off. Infill drilling program down to 150 metres was ‘highly successful’, with 87% of the updated mineral resource classified in the indicated category. In parallel, Resolute has been undertaking ’Greenfields’ exploration on projects located within the Siguiri Basin in Guinea. The most advanced prospect is Mansala which has an initial inferred mineral resource estimate, and remains Resolute’s focus in Guinea. Drilling to date has outlined a gold mineralised shear zone over 1.5 kilometres long, and an inferred mineral resource of 6.6 Mt, grading 1.6 grams per tonne of gold for 343,000 ounces at a cut-off of 1 gram per tonne. The Mansala mineral resource remains open along strike and down dip and future work will focus on expanding this resource, Resolute Mining said. ‘We are progressing well with our priority of extending the life of the Mako operation with further drilling success and a significant increase in the Mineral Resources at the Tomboronkoto project which is close to the Mako processing facility. Engineering work is progressing in parallel to ensure an investment decision can be made on this project in early 2025,’ said Chief Executive Officer Terry Holohan. ‘We are also pleased to publish the initial exploration discovery from our 100% held greenfields Niagassolo project in Guinea. Drilling over the past year has led to the completion of an initial mineral resource estimate at the newly named Mansala Prospect.’ Shares in Resolute Mining were trading 6.1% higher at 34.80 pence each in London on Thursday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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