GCIResolute Mining boosts gold resource at Tomboronkoto by 30%, declares initial resource at Mansala
() , a gold explorer operating in Africa and Australia, issued an update on its exploration activities in Senegal and Guinea. announced an increased mineral resource at Tomboronkoto, Senegal, and an initial mineral resource at Mansala, Guinea.
At Tomboronkoto, Senegal, total gold was increased by >30% from the initial MRE announced in January to over 343 koz grading 2.1g/t Au at 1g/t cut off or 571 koz grading 1.1 g/t at 0.5 g/t cut-off. An infill drilling programme down to 150m was highly successful with 87% of the updated mineral resource classified in the Indicated category. said mineralisation remained open down dip and along strike to the southwest.
Preliminary testwork performed by on samples from Tomboronkoto showed mineralisation was free-milling with recoveries exceeding 90%. Drilling is ongoing with the focus for the remainder of 2024 to complete an additional 7,000m of diamond drilling to further expand the Tomboronkoto resource. A more detailed timeline is expected in Q1 2025.
At Bantaco, Senegal, said RC drilling was ongoing at the Bantaco JV, which was signed in early 2024. An update on the program of wide spaced drilling is expected in Q4 2024.
Meanwhile at Mansala, Guinea, drilling outlined a gold mineralised shear zone >1.5km long and an Inferred mineral resource of 6.6Mt grading 1.6 g/t Au for 343 koz at a cut-off of 1 g/t. The Mansala resource remains open along strike and down dip, and said it would focus on expanding this resource. Pending future results, will further assess how Mansala fits into its growth strategy.
View from Vox
A positive update from Resolute Mining on its assets in Senegal and Guinea. In Senegal, Resolute has 3 potential satellite deposits - Tomboronkoto, Bantaco and Laminia - that could extend the life of its Mako mine. Tomboronkoto is the most advanced prospect with an Indicated and Inferred MRE, now up over 30% on the initial estimate announced in January 2024, and a further 7,000m of drilling ongoing to further expand the resource.
Mako's other satellite deposit with active drilling is Bantaco, which has extensive artisanal workings. has now begun to intersect mineralisation close to surface, with a more detailed update on the results and drilling programme expected in Q4 2024.
Simultaneously, Resolute has been undertaking "greenfields" exploration on projects located within the Siguiri Basin in Guinea. The most advanced prospect is Mansala, which has a promising initial Inferred MRE and remains the focus for in Guinea.
Additionally, should soon have exploration drilling in 4 jurisdictions in West Africa, and recently agreed an earn-in for a project in Cote D'Ivoire.
Overall, is firing on all cylinders and reporting excellent progress from its work programmes in Africa, with the main priority remaining extending the life of the Mako operation. Investors have priced in a significant expected increase in the MRE at Tomboronkoto, as shares climbed 6.7% on today's update, and are up over 100% in the past 12 months. Engineering work is also progressing at the site, with a final investment decision on the project expected in early 2025.
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