Resolute, an Australian mining company with a successful track record of developing projects in Africa has committed $A19 million to exploration over the next 12 months – the majority of which will be committed to testing new targets on the continent.
Addressing the first day today of the three day Paydirt 2016 Africa Down Under mining conference in Perth, Resolute Mining Managing Director, John Welborn, said the company had identified multiple high quality projects close to existing infrastructure at Syama in Mali.
He said Resolute has a number of highly prospective, under-explored tenure spread across Mali, Cote d’Ivoire, Tanzania and Ghana – as well as projects in Australia.
Further, the company was also excited about the potential of drilling programs currently being undertaken in Mali and Cote d’Ivoire, as well as in Australia.
“Resolute is currently exploring more than 135,000km2 of prospective tenure across three countries in Africa,” Mr Welborn said today. “We are passionate about the opportunities that Africa represents – not just presently but into the future,” he said.
“Resolute remains committed to partnering with governments and other stakeholders to develop projects that benefit everyone, specifically those who live and work in the jurisdictions in which we operate.
“Just as critically, we are determined and committed to developing a lasting legacy in the areas of that wonderful continent in which we have operations.
“We pride ourselves on being a global gold producer, explorer, developer and innovator.
“As a gold producer we are currently enjoying a nice wind under our wings, but we will remain committed to responsible sustainable operations and discipline in our capital allocation.
“Our focus is transforming world class gold assets into an outstanding business and continuing to provide value for our shareholders. “We will do this by continuing to pursue exploration and new project development opportunities in Africa.”
Mr Welborn reinforced Resolute’s track recorded which included more than 25 years of continuous production – including 20 years in Africa, having operated nine gold mines across Australia and Africa which have produced in excess of 7 million ounces of gold.
Its flagship operation is the Syama Gold Minein Mali, which is a robust long-life asset benefitting from fully operational parallel sulphide and oxide processing plants.
The move to underground mining will continue the mine’s history of strong cash generation and extend the mine life to out beyond 2028.
In Ghana, the Company has completed a feasibility study on the Bibiani Gold Project focused on the development of an underground operation requiring modest capital and using existing plant infrastructure.
Resolute also controls an extensive exploration footprint along the highly prospective Syama Shear and greenstone belts in Mali and Cote d’Ivoire and is active in reviewing new opportunities to build shareholder value.
