Resolute Mining hikes gold estimate at Mako mine deposit
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The news: Gold explorer Resolute Mining has reported an increase to the mineral resource estimate at its satellite deposit Tomboronkoto, which could extend the life of its Mako mine in Senegal.
The numbers: Resolute said total contained gold at Tomboronkoto has increased by "at least 30%" from the initial mineral resource estimate announced in January to over 343,000 ounces.
The context: The Perth-based miner, which owns the Syama gold mine in Mali as well as Mako in Senegal, said it has been focusing on three potential satellite deposits — comprising Tomboronkoto, Bantaco and Laminia — to extend the life of Mako.
Tomboronkoto is the most advanced prospect, while drilling is ongoing at Bantaco, with an update expected in Q4 2024.
In parallel, Resolute has been undertaking 'Greenfields' exploration — where new mine sites are located in unexplored or currently undeveloped areas — on projects located within the Siguiri Basin in Guinea. The miner has declared an initial mineral resource estimate at the basin's most advanced prospect Mansala, which remains the focus for the company's exploration in the country.
What they 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," said Resolute CEO and managing director Terry Holohan.
"Engineering work is progressing in parallel to ensure an investment decision can be made on this project in early 2025," he said.
The source: ASX announcement
