Resolute Mining announces latest Syama North drill results

Highlights

• Significant gold intersections recorded with higher-grade results below the 2021 published Syama North 1 million oz mineral resource:
  • QVRC511: 16 m at 4.74 g/t from 107 m.
  • QVRC512: 15 m at 4.35 g/t from 99 m.
  • QVRC515: 7 m at 6.56 g/t from 161 m.
  • QVRC522: 6 m at 13.79 g/t from 119 m.
  • QVRC533: 27 m at 6.62 g/t from 45 m.
  • QVRC534: 19 m at 4.32 g/t from 138 m.
  • QVRD505: 10 m at 7.14 g/t from 131 m.
  • QVRD506: 8 m at 6.56 g/t from 180 m.
  • QVRD517: 6 m at 11.83 g/t from 155 m.
  • QVRD518: 14 m at 3.74 g/t from 109 m.
  • QVRD519: 23 m at 2.21 g/t from 138 m.
  • QVRD527: 26 m at 7.8 g/t from 180 m.
• These results may significantly contribute to an upgrade of the existing estimated 1 million oz in sulfide mineral resources.
• These results represent some of the best gold intersections recorded from the Syama North area.
• Drilling results have outlined the potential for new opencast sulfide deposit – work is continuing.
• Updated mineral resource estimate planned for 3Q22.

Syama North exploration programme

The exploration drilling program at Syama North, initiated during 2021, recorded significant oxide and sulfide gold mineralisation intersections in and around the originally mined out oxide pits of A21 and Beta/BA-01 located within 4 –8 km of the main Syama mining and processing complex.

The main target for the 2021 exploration programme at Syama North was expanding the oxide resources, following on from the successes of 2020. However, a substantial sulfide mineral resource, at greater than 1 million oz, was outlined by the programme. As the sulfide mineralisation remains open at depth and appears to be contiguous along the 2.5 km strike length, this has created the potential for further opencast, and eventually underground, mining for sulfide ores in this area. Based on the 2021 exploration results, opencast operations resumed at Syama North in late 2021 extracting additional oxide resources from both Beta and A21 after the previous phase of oxide mining in this area concluded in 2018.

The Syama North sulfide resources have not been included in recently published LOM plan updates. The 2022 drilling programme was undertaken with the intention of upgrading and expanding these resources to capitalise upon the recent significant process improvements and successful refurbishment of the sulfide plant achieved over 1Q22.

Drilling programme 2022

Diamond and RC drilling recommenced in early 2022 at both the A21 and Beta pits. The drilling programme targeted the down-dip extensions of the identified zones and was successful with the majority of the holes intersecting sulfide mineralisation.

Results from holes drilled to date have been returned with significant intersections seen in numerous holes confirming the extension of the mineralised zones along the entire strike length of the original A21 pit.

The best results received include:

• QVRC511: 16 m at 4.74 g/t from 107 m.
• QVRC512: 15 m at 4.35 g/t from 99 m.
• QVRC515: 7 m at 6.56 g/t from 161 m.
• QVRC522: 6 m at 13.79 g/t from 119 m.
• QVRC533: 27 m at 6.62 g/t from 45 m.
• QVRC534: 19 m at 4.32 g/t from 138 m.
• QVRD505: 10 m at 7.14 g/t from 131 m.
• QVRD506: 8 m at 6.56 g/t from 180 m.
• QVRD517: 6 m at 11.83 g/t from 155 m.
• QVRD518: 14 m at 3.74 g/t from 109 m.
• QVRD519: 23 m at 2.21 g/t from 138 m.
• QVRD527: 26 m at 7.8 g/t from 180 m.

These results represent some of the best gold intersections ever recorded from the Syama North area.

With the new-found confidence in sulfide mining and processing over the last 12 months, this has re-invigorated the exploration department to explore for new oxide and sulfide resources.

A new low-level, high definition heliborne aeromagnetic survey will shortly be conducted to improve on the historical wide-spaced aeromagnetic coverage. This survey is planned to cover the whole 85 km length of the Greenstone Belt held under license in an effort to delineate more sulfide resources, which are the long-term future of the mining operation.

The results confirm the continuity of mineralisation beneath the existing opencast and demonstrate the presence of higher-grade zones of mineralisation, which may support future underground mining of sulfides from the northern portion of the Syama belt, close to the Syama mining and processing complex, in addition to the 1.3 million oz high grade (>4 g/t Au) Tabakoroni resource, which recently returned a 766 000 oz of ore reserve.

The drilling programme is ongoing and expected to continue throughout 2022, with the initial aim of evaluating the potential of an opencast operation to exploit the sulfide mineral resources to compliment, and add ‘flexibility’ to, the underground sulfide mining operation.

An updated mineral resource estimate will be carried out during 3Q22, which may significantly upgrade the present 1 million oz in the current sulfide estimate.

Terry Holohan, Resolute CEO, said: “I am very pleased with the progress over the last 12 months within both the exploration and operations teams. They have fully grasped the ‘back to basics’ approach we needed to adopt across all disciplines in order to continually improve the operation per se and thereby give us the opportunity to systematically improve the bottom line of the Syama project for many years to come.”

Read the article online at: https://www.globalminingreview.com/exploration-development/17062022/resolute-mining-announces-latest-syama-north-drill-results/