ASX/LSE-listed gold miner Resolute Mining could extend the lifespan of its Mako gold mine in Senegal following a successful drilling campaign which has yielded very positive results.
Mako became a part of the Resolute Mining portfolio following the transaction earlier this year with Toro Gold.
The diamond drilling undertaken at the Mako gold mine confirm the potential of a coherent high-grade lode at the north-eastern end of the Mako open pit.
The positive exploration results demonstrate the potential for mine life extension at Mako and build on the exceptional operating performance of the mine since Resolute assumed ownership.
Mako produced 44 191 oz at an AISC of US$716/oz in the September 2019 quarter.
MD and CEO, John Welborn, was pleased to have received immediate confirmation of the opportunities to expand Resolute Mining's gold inventory with positive exploration results from Toro Gold’s land package:
“The Mako gold mine has already outperformed for Resolute and positive exploration results are further confirmation of value creation. The drilling results indicate strong potential to increase open pit gold inventory at Mako which will extend the life of our new high quality, low cost operation,” he says.
“We are delighted to be operating successfully in Senegal and we are actively seeking to expand our tenement package to include new high-quality exploration prospects.”
“A highly prospective and expansive exploration portfolio covering over 2 800km2 across Senegal, Côte d’Ivoire and Guinea was acquired as part of the Toro Gold transaction. In addition to the immediate opportunities for mine life extension at Mako, Resolute Mining has identified significant additional opportunities to source oxide mill feed for Mako within trucking distance of the existing processing plant.”
Resolute is as such investigating possible joint ventures and acquisitions of highly prospective ground in eastern Senegal.