24th Jan 2024 09:47
(Alliance News) - Resolute Mining Ltd on Wednesday cheered the completion of a maiden estimate for Tomboronkoto, which is one of its projects in Senegal.
The Africa-focused gold miner reported a maiden inferred mineral resource estimate of 3.4 million tonnes for the Tomboronkoto prospect, grading 2.2 grams per tonne of gold for 264,000 ounces at 1 gram per tonne cut-off.
This estimate is based on shallow drilling. Preliminary metallurgical test-work shows that mineralisation is free milling, with recoveries exceeding 90% from fresh and weathered gold mineralised materials.
Resolute said that its focus for the rest of the year would be on infill drilling, as well as further drilling to expand the resource.
"The completion of the maiden Inferred Mineral Resource at Tomboronkoto within six months is a significant achievement and reflects the efforts and ability of our exploration and operations teams on the ground," said Chief Executive Officer Terry Holohan.
Resolute Mining shares were flat at 20.30 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News reporter
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