REG - Resolute Mining Ltd - Tabakoroni Resource Increases 40%
17/02/2022 08:30
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RNS Number : 9968B Resolute Mining Limited 17 February 2022
17 February 2022
Resolute Mining Limited
(Resolute or the Company)
Tabakoroni Resource Increases 40%
`
Highlights
· Global Measured and Indicated Mineral Resource Estimate updated
to 9.2 million tonnes at 4.4 g/t for 1.3 million ounces of gold a 40% increase
over the previous estimate
· The gold deposit remains open along strike and down dip
· Studies to optimise the development of the resource continue
· Tabakoroni reserves to be updated in the annual Reserves and
Resources statement
Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) is pleased to
announce an updated Mineral Resource Estimate (MRE) from ongoing exploration
success at Tabakoroni confirming the potential for a new open pit or
underground gold mine.
2021 Drilling Program
Exploration success at Tabakoroni has continued with the Mineral Resource
consistently growing.
Resolute published the maiden underground resource at Tabakoroni on 29 April
2019 with Mineral Resource updates reported in 2020 and 2021. These estimates
covered the Tabakoroni Main Shear Zone and excluded the Splay area which
continues to be reported separately.
Diamond drilling continued throughout 2021 focussed on outlining and expanding
the coherent high-grade lens of mineralisation located underneath the
Tabakoroni South oxide pit. The first intersections in this zone were
reported on 14 October 2020 with drilling programs since that time focussing
on fully exploring this new zone.
Mineral Resources for the southern high-grade zone were classified as Inferred
in the January 2021 MRE announcement. Consequently, a major focus for drilling
during 2021 was to upgrade this are of the Mineral Resource to the Indicated
category.
Better intersections returned since the completion of the January 2021
estimate include:
TADD841 - 8m @ 28g/t from 383m
TADD841 - 13m @ 14.52g/t from 397m
TADD833 - 18m @ 11.20g/t from 317m
TADD954 - 9m @ 17.42g/t from 415m
TADD968 - 18m @ 36.77g/t from 416m
TADD984 - 4m @ 27.65g/t from 159m
TADD987 - 10m @ 10.86g/t from 341m
The location of the drill intersection pierce points are shown on Figure 1.
Updated Tabakoroni Mineral Resource Estimate
An updated MRE for the Tabakoroni Man Shear Zone (TMSZ) was completed in
December 2021 using wireframe constrained ordinary kriged methodology which
was the same as previous estimates.
The infill and expansion drilling undertaken in 2021 was successful with the
majority of the southern high-grade zone being upgraded to indicated category.
The Global Measured and Indicated Mineral Resources for the TMSZ has been
upgraded to 9.2 million tonnes (Mt) at 4.4 grams per tonne (g/t) gold (Au) at
a cut off of 1.75g/t Au for a total of 1.35 million ounces (Moz), an increase
of 40% over the previous estimate of 6.9Mt at 4.3g/t Au for 0.96Moz.
Resource diamond drilling at 50m centre density in the southern high-grade
zone was achieved during 2021 enabling the conversion of the majority of the
previously classified inferred resources.
The Tabakoroni reserves will be released in the Annual Reserves and Resources
Statement. The Global Mineral Resource is shown in Table 1
Tabakoroni Global Resource 1.75g/t cut off
Category Tonnes Gold Ounces
(000)s (g/t) (000s)
Measured 41 3.83 51
Indicated 9,194 4.43 1,308
Inferred 2,802 3.12 281
Total 12,409 4.11 1,640
Table 1: Tabakoroni Global Mineral Resources at December 2021
Using the principals of Reasonable Prospects of Eventual Economic Extraction
(RPEEE) the Global Mineral Resource was restricted by using both an open pit
optimisation and a stope shape optimisation for material below the open pit
shell.
Both optimisations were completed at a resource gold price of US$2,000/oz,
using likely mining and processing parameters to be encountered during
eventual extraction of the material, such as the most likely mining methods
and approximate mining and metallurgical parameters. The economically
constrained Mineral Resource is shown in Table 2.
MINERAL RESOURCES MEASURED INDICATED INFERRED TOTAL RESOURCES
As at December 2021 Tonnes g/t oz Tonnes g/t oz Tonnes g/t oz Tonnes g/t oz
(000s) (000s) (000s) (000s) (000s) (000s) (000s) (000s)
Oxide and Transitional - OP 426 3.4 46 924 4.5 134 17 5.5 3 1,367 4.2 183
Fresh - OP 98 2.9 9 1,203 4.7 183 4 6.2 1 1,305 4.6 193
Fresh - UG 6 3.5 1 5,179 4.8 792 1,644 3.5 183 6,829 4.4 976
Tabakoroni Total 530 3.3 56 7,307 4.7 1,110 1,665 3.5 187 9,502 4.4 1,352
Table 2: Tabakoroni Open Pit and Underground Mineral Resources
Future Exploration at Tabakoroni
The mineralisation at Tabakoroni remains open both along strike and at depth
and continued exploration success is expected to expand Mineral Resources. The
Tabakoroni deposit is only drilled to shallow depths to date and has
significant potential to grow at depth and along strike to the north and
south.
Extensional diamond drilling during 2021 continued to intersect ore grade
mineralisation confirming that the Tabakoroni deposit remains open at depth
over the entire 1.8km strike length. Of particular interest are the very
high grade-intersections announced on 25 August 2021 from mineralisation at
the very bottom of the resource model such as 13m @ 14.52g/t from TADD841 and
18m @ 36.77g/t from TADD 968 (see Figure 1). These results support extension
of high-grade shoots to be identified with further drilling.
Also of importance is the previously announced high grade result in TARD779 of
4m @ 10.13g/t Au from 195m (see Figure 1) which confirms the deposit is open
to the south.
Drilling programs to be undertaken in 2022 will focus on three areas,
extensions of the mineralised zone south of TARD779, test the depth extents of
the high-grade zone under the South Pit and testing the northern plunge of the
mineralisation underneath the North Pit.
Please see image in the full version of the announcement at www.rml.com.au
Figure 1. Tabakoroni Longitudinal Section with Mineral Resource block model
and drill intersections
Please see image in the full version of the announcement at www.rml.com.au
Figure 2: Tabakoroni Cross Section showing geology and gold mineralisation
Please see image in the full version of the announcement at www.rml.com.au
Figure 3: Tabakoroni drone photograph showing main structures and resource
areas
Resource Estimation and Classification methodology
Mineralisation wireframes were created with a cut-off grade of 1 g/t Au with a
minimum downhole thickness of 2 m. Four domains have been identified at
Tabakoroni. The main domain is the Tabakoroni Main Shear Zone (TMSZ) which
is a steeply dipping shear mineralised over 1.8 km of strike. In the central
portion of the deposit this structure becomes westerly dipping at depth. A
second domain (Domain 200) was created for the parallel lodes adjacent to the
TMSZ, and there are a number of shear-parallel smaller lodes. Another domain
was created for the shallow westerly-dipping lodes in the southern and central
portions of the deposit. These lodes are dipping at 45 degrees and appear to
overprint the TMSZ. A final domain created was the steeply dipping
mineralisation in the north-eastern portion of the deposit, which strikes at
20 degrees to the northeast. The shallow west dipping lodes appear to be
veins with significant presence of arsenopyrite
Gold, sulphide sulphur, organic carbon and arsenic was estimated into a
three-dimensional block model using ordinary kriging (OK).
Top cutting was required to reduce the influence of outlier values.
Variograms were generated based on 1 metre composites for the mineralised
domains. Some variograms were borrowed from other elements where there was
insufficient data and where there was a strong correlation identified. This
affected some of the arsenic domains. Optiro carried out kriging
neighbourhood analysis based upon the gold variograms to optimise the
estimation parameters, and these parameters were used for ordinary kriging
into the 5 m x 10 m x 5 m parent cells.
Hard boundaries were utilised between the mineralised domains and the waste
domain for all elements. A change in methodology for estimating COrg, S2 and
arsenic was employed in this estimation. A review of the data showed there
was a hard boundary needed between the transition material and the fresh
material.
Three search passes, with increasing search distance and decreasing minimum
sample numbers, were employed to inform the model. A nearest neighbour
approach was used to fill the blocks without grade in the first three passes
and given a search pass of 4. An average grade was also assigned where the
nearest neighbour approach filled areas of grade higher than the domain
average.
Density was assigned based on weathering codes; 2,190 measurements were taken
from diamond hole samples. These measurements suggested a density of 2.72
g/m3 for the fresh, 2.38 g/m3 for the transitional material and 2.12 g/m3 for
the oxide material.
The estimation was validated and then classified as Measured, Indicated and
Inferred in accordance with the JORC Code (2012) reporting guidelines. The
default classification for the mineralisation is an Inferred Mineral
Resource. Measured Mineral Resources are defined by contiguous zones where
the nominal drillhole density is 12.5m by 12.5m, while an Indicated Mineral
Resource has been defined by zones where the nominal drillhole density is up
to 50m by 50m. The resource has been depleted for mining as of 31 December
2021.
A full PDF version of the announcement is available from the Company's
website: link to announcement
(https://clients3.weblink.com.au/pdf/RSG/02487705.pdf) .
(https://clients3.weblink.com.au/pdf/RSG/02487705.pdf)
For further information, contact:
Stuart Gale
Managing Director & CEO
About Resolute
Resolute is a successful gold miner with more than 30 years of experience as
an explorer, developer and operator of gold mines in Australia and Africa
which have produced more than 8 million ounces of gold. The Company trades on
the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE)
under the ticker RSG. Resolute currently operates the Syama Gold Mine in Mali
and the Mako Gold Mine in Senegal.
Contact Information
Resolute Berenberg (UK Corporate Broker)
Stuart Gale, Chief Executive Officer Matthew Armitt / Detlir Elezi
Telephone: +44 20 3207 7800
James Virgo, GM Finance and Investor Relations Tavistock (UK Public Relations)
Jos Simson / Oliver Lamb
Telephone: +61 8 9261 6100 Telephone: +44 207 920 3150 / +44 778 855 4035
Email: contact@rml.com.au (mailto:contact@rml.com.au) Email: resolute@tavistock.co.uk (mailto:resolute@tavistock.co.uk)
Web: www.rml.com.au (http://www.rml.com.au) FTI Consulting (Australian media)
Follow Resolute Cameron Morse / James Tranter
Telephone: +61 433 886 871
Email: cameron.morse@fticonsulting.com
(mailto:cameron.morse@fticonsulting.com)
Authorised by Mr Stuart Gale, Chief Executive Officer
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 which forms part of UK law pursuant
to the European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via a Regulatory Information Service (RIS), this inside
information is now considered to be in the public domain.
Competent Persons Statement
The information in this report that relates to the Exploration Results,
Mineral Resources and Ore Reserves is based on, and fairly represents,
information compiled by Mr Bruce Mowat, a member of The Australian Institute
of Geoscientists. Mr Bruce Mowat has more than 5 years' experience relevant to
the styles of mineralisation and type of deposit under consideration and to
the activity which he is undertaking to qualify as a Competent Person, as
defined in the 2012 Edition of the "Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code). Mr
Bruce Mowat is a full-time employee of the Resolute Mining Limited Group and
holds equity securities in the Company. He has consented to the inclusion of
the matters in this report based on his information in the form and context in
which it appears. This information was prepared and disclosed under the JORC
Code 2012 except where otherwise noted.
The information in this announcement that relates to the Mineral Resource
estimate has been based on, and fairly represents, information and supporting
documents prepared by Mrs Susan Havlin, a Competent Person who is a Member of
The Australasian Institute of Mining and Metallurgy. Mrs Havlin is an employee
of Optiro, a consultant to the Company, and has sufficient experience relevant
to the style of mineralisation and type of deposit under consideration and to
the activity which has been undertaken to qualify as a Competent Person. Mrs
Havlin confirms that the Mineral Resource estimate is based on information in
the supporting documents and consents to the inclusion in the report of the
Mineral Resource estimate and related content based on the information in the
form and context in which it appears.
Cautionary Statement about Forward-Looking Statements
This announcement contains certain "forward-looking statements" including
statements regarding our intent, belief or current expectations with respect
to Resolute's business and operations, market conditions, results of
operations and financial condition, and risk management practices. The words
"likely", "expect", "aim", "should", "could", "may", "anticipate", "predict",
"believe", "plan", "forecast" and other similar expressions are intended to
identify forward-looking statements. Indications of, and guidance on, future
earnings, anticipated production, life of mine and financial position and
performance are also forward-looking statements. These forward-looking
statements involve known and unknown risks, uncertainties and other factors
that may cause Resolute's actual results, performance and achievements or
industry results to differ materially from any future results, performance or
achievements, or industry results, expressed or implied by these
forward-looking statements. Relevant factors may include (but are not limited
to) changes in commodity prices, foreign exchange fluctuations and general
economic conditions, increased costs and demand for production inputs, the
speculative nature of exploration and project development, including the risks
of obtaining necessary licences and permits and diminishing quantities or
grades of reserves, political and social risks, changes to the regulatory
framework within which Resolute operates or may in the future operate,
environmental conditions including extreme weather conditions, recruitment and
retention of personnel, industrial relations issues and litigation. Forward
looking statements are based on Resolute's good faith assumptions as to the
financial, market, regulatory and other relevant environments that will exist
and affect Resolute's business and operations in the future. Resolute does not
give any assurance that the assumptions will prove to be correct. There may be
other factors that could cause actual results or events not to be as
anticipated, and many events are beyond the reasonable control of Resolute.
Readers are cautioned not to place undue reliance on forward-looking
statements, particularly in the current economic climate with the significant
volatility, uncertainty and disruption caused by the COVID-19 pandemic.
Forward-looking statements in this document speak only at the date of issue.
Except as required by applicable laws or regulations, Resolute does not
undertake any obligation to publicly update or revise any of the
forward-looking statements or to advise of any change in assumptions on which
any such statement is based. Except for statutory liability which cannot be
excluded, each of Resolute, its officers, employees and advisors expressly
disclaim any responsibility for the accuracy or completeness of the material
contained in these forward-looking statements and excludes all liability
whatsoever (including in negligence) for any loss or damage which may be
suffered by any person as a consequence of any information in forward-looking
statements or any error or omission.
Appendix 1: Recent Drilling Results
Tabakoroni
Hole_ID North (WGS) East (WGS) RL Dip Azi EOH From To Width Au
(m) (WGS) (m) (m) (m) (m) (g/t)
TADD952 1164942 810431 341 -55 64 90.5 39 49 10 19.67
TADD959 1164889 810280 341 -55 60 252.3 133 135 2 11.52
TADD963 1164731 810442 344 -56 64 250.2 49 51 2 5.36
TADD963 1164731 810442 344 -56 64 250.2 91 101 10 4.01
TADD963 1164731 810442 344 -56 64 250.2 114 116 2 5.04
TADD963 1164731 810442 344 -56 64 250.2 128 134 6 1.16
TADD963 1164731 810442 344 -56 64 250.2 212 215 3 3.97
TADD992 1163531 810376 375 -72 63 639.3 202 205 3 7.05
TADD992 1163531 810376 375 -72 63 639.3 322 325 3 4.12
TADD992 1163531 810376 375 -72 63 639.3 363 365 2 3.43
TADD992 1163531 810376 375 -72 63 639.3 520 529 9 3.02
TADD992 1163531 810376 375 -72 63 639.3 593 603 10 1.23
TADD1001 1163446 810492 372 -68 57 412.3 147 149 2 3.88
TADD1001 1163446 810492 372 -68 57 412.3 259 268 9 4.38
TADD1008 1163309 810556 369 -56 62 308.9 136 140 4 2.35
TADD1008 1163309 810556 369 -56 62 308.9 226 233 7 5.75
TADD1008 1163309 810556 369 -56 62 308.9 254 256 2 4.2
TADD1009 1163458 810514 373 -67 67 420.2 127 129 2 5.43
TADD1009 1163458 810514 373 -67 67 420.2 238 248 10 3.41
TADD1011 1163415 810493 371 -72 69 520.1 273 282 9 6.54
TADD1011 1163415 810493 371 -72 69 520.1 392 396 4 1.31
TADD1011 1163415 810493 371 -72 69 520.1 461 464 3 2.89
TADD1015 1163478 810519 374 -63 58 390.3 227 229 2 3.65
TADD1015 1163478 810519 374 -63 58 390.3 333 337 4 1.5
TADD1018 1163514 810458 380 -64 60 419.2 156 158 2 6.71
TADD1018 1163514 810458 380 -64 60 419.2 255 259 4 1.45
TADD1018 1163514 810458 380 -64 60 419.2 366 380 14 1.88
TADD1019 1163567 810550 379 -64 66 291 69 71 2 8.39
TADD1019 1163567 810550 379 -64 66 291 172 175 3 29.15
TADD1019 1163567 810550 379 -64 66 291 236 244 8 3.02
TADD1019 1163567 810550 379 -64 66 291 250 255 5 31.76
TADD1020 1163591 810494 379 -63 63 330.3 177 186 9 2.26
TADD1020 1163591 810494 379 -63 63 330.3 317 319 2 3.76
TADD1021 1163352 810542 370 -66 58 414.2 136 140 4 3.3
TADD1022 1163370 810578 370 -65 64 306.3 106 113 7 1.72
TADD1022 1163370 810578 370 -65 64 306.3 206 212 6 2
TADD1022 1163370 810578 370 -65 64 306.3 255 258 3 16.43
TADD1023 1163625 810472 379 -67 60 415.5 108 113 5 1.39
TADD1023 1163625 810472 379 -67 60 415.5 213 215 2 2.88
TADD1023 1163625 810472 379 -67 60 415.5 286 288 2 3.38
TADD1023 1163625 810472 379 -67 60 415.5 336 341 5 2.13
TADD1024 1163741 810375 380 -69 61 476.7 214 216 2 3.26
TADD1025 1163524 810601 374 -59 63 205.5 36 38 2 4.59
TADD1025 1163524 810601 374 -59 63 205.5 112 118 6 1.66
TADD1026 1163176 810558 370 -57 66 336.5 31 33 2 2.65
TADD1026 1163176 810558 370 -57 66 336.5 227 229 2 2.98
TADD1026 1163176 810558 370 -57 66 336.5 235 239 4 10.29
TADD1027 1163651 810399 380 -72 59 605.4 253 256 3 3.43
TADD1027 1163651 810399 380 -72 59 605.4 341 343 2 3.81
TADD1027 1163651 810399 380 -72 59 605.4 570 574 4 2.93
TADD1028 1163233 810571 370 -54 64 276.3 79 83 4 5
TADD1028 1163233 810571 370 -54 64 276.3 152 154 2 9.18
TADD1028 1163233 810571 370 -54 64 276.3 219 221 2 6.33
TADD1028 1163233 810571 370 -54 64 276.3 226 228 2 41.14
TADD1029 1163230 810559 370 -65 62 425.8 152 154 2 3.6
TADD1029 1163230 810559 370 -65 62 425.8 167 172 5 1.48
TADD1029 1163230 810559 370 -65 62 425.8 355 359 4 125.85
TADD1030 1163527 810433 379 -74 62 525.2 179 181 2 3.12
TADD1030 1163527 810433 379 -74 62 525.2 487 498 11 1.9
TADD1031 1163711 810410 385 -69 58 435.3 211 216 5 1.78
TADD1031 1163711 810410 385 -69 58 435.3 249 251 2 4.03
TADD1031 1163711 810410 385 -69 58 435.3 348 353 5 2.72
TADD1031 1163711 810410 385 -69 58 435.3 377 389 12 3.01
TADD952 1164942 810431 341 -55 64 90.5 39 49 10 19.67
TADD959 1164889 810280 341 -55 60 252.3 133 135 2 11.52
TADD963 1164731 810442 344 -56 64 250.2 49 51 2 5.36
TADD963 1164731 810442 344 -56 64 250.2 91 101 10 4.01
TADD963 1164731 810442 344 -56 64 250.2 114 116 2 5.04
TADD963 1164731 810442 344 -56 64 250.2 128 134 6 1.16
TADD963 1164731 810442 344 -56 64 250.2 212 215 3 3.97
TADD992 1163531 810376 375 -72 63 639.3 202 205 3 7.05
TADD992 1163531 810376 375 -72 63 639.3 322 325 3 4.12
TADD992 1163531 810376 375 -72 63 639.3 363 365 2 3.43
TADD992 1163531 810376 375 -72 63 639.3 520 529 9 3.02
TADD992 1163531 810376 375 -72 63 639.3 593 603 10 1.23
TADD1001 1163446 810492 372 -68 57 412.3 147 149 2 3.88
TADD1001 1163446 810492 372 -68 57 412.3 259 268 9 4.38
TADD1008 1163309 810556 369 -56 62 308.9 136 140 4 2.35
TADD1008 1163309 810556 369 -56 62 308.9 226 233 7 5.75
TADD1008 1163309 810556 369 -56 62 308.9 254 256 2 4.2
TADD1009 1163458 810514 373 -67 67 420.2 127 129 2 5.43
TADD1009 1163458 810514 373 -67 67 420.2 238 248 10 3.41
TADD1011 1163415 810493 371 -72 69 520.1 273 282 9 6.54
TADD1011 1163415 810493 371 -72 69 520.1 392 396 4 1.31
TADD1011 1163415 810493 371 -72 69 520.1 461 464 3 2.89
TADD1015 1163478 810519 374 -63 58 390.3 227 229 2 3.65
TADD1015 1163478 810519 374 -63 58 390.3 333 337 4 1.5
TADD1018 1163514 810458 380 -64 60 419.2 156 158 2 6.71
TADD1018 1163514 810458 380 -64 60 419.2 255 259 4 1.45
TADD1018 1163514 810458 380 -64 60 419.2 366 380 14 1.88
TADD1019 1163567 810550 379 -64 66 291 69 71 2 8.39
TADD1019 1163567 810550 379 -64 66 291 172 175 3 29.15
TADD1019 1163567 810550 379 -64 66 291 236 244 8 3.02
TADD1019 1163567 810550 379 -64 66 291 250 255 5 31.76
TADD1020 1163591 810494 379 -63 63 330.3 177 186 9 2.26
TADD1020 1163591 810494 379 -63 63 330.3 317 319 2 3.76
TADD1021 1163352 810542 370 -66 58 414.2 136 140 4 3.3
TADD1022 1163370 810578 370 -65 64 306.3 106 113 7 1.72
TADD1022 1163370 810578 370 -65 64 306.3 206 212 6 2
TADD1022 1163370 810578 370 -65 64 306.3 255 258 3 16.43
TADD1023 1163625 810472 379 -67 60 415.5 108 113 5 1.39
TADD1023 1163625 810472 379 -67 60 415.5 213 215 2 2.88
TADD1023 1163625 810472 379 -67 60 415.5 286 288 2 3.38
TADD1023 1163625 810472 379 -67 60 415.5 336 341 5 2.13
TADD1024 1163741 810375 380 -69 61 476.7 214 216 2 3.26
TADD1025 1163524 810601 374 -59 63 205.5 36 38 2 4.59
TADD1025 1163524 810601 374 -59 63 205.5 112 118 6 1.66
TADD1026 1163176 810558 370 -57 66 336.5 31 33 2 2.65
TADD1026 1163176 810558 370 -57 66 336.5 227 229 2 2.98
TADD1026 1163176 810558 370 -57 66 336.5 235 239 4 10.29
TADD1027 1163651 810399 380 -72 59 605.4 253 256 3 3.43
TADD1027 1163651 810399 380 -72 59 605.4 341 343 2 3.81
TADD1027 1163651 810399 380 -72 59 605.4 570 574 4 2.93
TADD1028 1163233 810571 370 -54 64 276.3 79 83 4 5
TADD1028 1163233 810571 370 -54 64 276.3 152 154 2 9.18
TADD1028 1163233 810571 370 -54 64 276.3 219 221 2 6.33
TADD1028 1163233 810571 370 -54 64 276.3 226 228 2 41.14
TADD1029 1163230 810559 370 -65 62 425.8 152 154 2 3.6
TADD1029 1163230 810559 370 -65 62 425.8 167 172 5 1.48
TADD1029 1163230 810559 370 -65 62 425.8 355 359 4 125.85
TADD1030 1163527 810433 379 -74 62 525.2 179 181 2 3.12
TADD1030 1163527 810433 379 -74 62 525.2 487 498 11 1.9
TADD1031 1163711 810410 385 -69 58 435.3 211 216 5 1.78
TADD1031 1163711 810410 385 -69 58 435.3 249 251 2 4.03
TADD1031 1163711 810410 385 -69 58 435.3 348 353 5 2.72
TADD1031 1163711 810410 385 -69 58 435.3 377 389 12 3.01
TADD952 1164942 810431 341 -55 64 90.5 39 49 10 19.67
TADD959 1164889 810280 341 -55 60 252.3 133 135 2 11.52
TADD963 1164731 810442 344 -56 64 250.2 49 51 2 5.36
TADD963 1164731 810442 344 -56 64 250.2 91 101 10 4.01
TADD963 1164731 810442 344 -56 64 250.2 114 116 2 5.04
TADD963 1164731 810442 344 -56 64 250.2 128 134 6 1.16
TADD963 1164731 810442 344 -56 64 250.2 212 215 3 3.97
TADD992 1163531 810376 375 -72 63 639.3 202 205 3 7.05
TADD992 1163531 810376 375 -72 63 639.3 322 325 3 4.12
TADD992 1163531 810376 375 -72 63 639.3 363 365 2 3.43
TADD992 1163531 810376 375 -72 63 639.3 520 529 9 3.02
TADD992 1163531 810376 375 -72 63 639.3 593 603 10 1.23
TADD1001 1163446 810492 372 -68 57 412.3 147 149 2 3.88
TADD1001 1163446 810492 372 -68 57 412.3 259 268 9 4.38
TADD1008 1163309 810556 369 -56 62 308.9 136 140 4 2.35
TADD1008 1163309 810556 369 -56 62 308.9 226 233 7 5.75
TADD1008 1163309 810556 369 -56 62 308.9 254 256 2 4.2
TADD1009 1163458 810514 373 -67 67 420.2 127 129 2 5.43
TADD1009 1163458 810514 373 -67 67 420.2 238 248 10 3.41
TADD1011 1163415 810493 371 -72 69 520.1 273 282 9 6.54
TADD1011 1163415 810493 371 -72 69 520.1 392 396 4 1.31
TADD1011 1163415 810493 371 -72 69 520.1 461 464 3 2.89
TADD1015 1163478 810519 374 -63 58 390.3 227 229 2 3.65
TADD1015 1163478 810519 374 -63 58 390.3 333 337 4 1.5
TADD1018 1163514 810458 380 -64 60 419.2 156 158 2 6.71
TADD1018 1163514 810458 380 -64 60 419.2 255 259 4 1.45
TADD1018 1163514 810458 380 -64 60 419.2 366 380 14 1.88
TADD1019 1163567 810550 379 -64 66 291 69 71 2 8.39
TADD1019 1163567 810550 379 -64 66 291 172 175 3 29.15
TADD1019 1163567 810550 379 -64 66 291 236 244 8 3.02
TADD1019 1163567 810550 379 -64 66 291 250 255 5 31.76
TADD1020 1163591 810494 379 -63 63 330.3 177 186 9 2.26
TADD1020 1163591 810494 379 -63 63 330.3 317 319 2 3.76
TADD1021 1163352 810542 370 -66 58 414.2 136 140 4 3.3
TADD1022 1163370 810578 370 -65 64 306.3 106 113 7 1.72
TADD1022 1163370 810578 370 -65 64 306.3 206 212 6 2
TADD1022 1163370 810578 370 -65 64 306.3 255 258 3 16.43
TADD1023 1163625 810472 379 -67 60 415.5 108 113 5 1.39
TADD1023 1163625 810472 379 -67 60 415.5 213 215 2 2.88
TADD1023 1163625 810472 379 -67 60 415.5 286 288 2 3.38
TADD1023 1163625 810472 379 -67 60 415.5 336 341 5 2.13
TADD1024 1163741 810375 380 -69 61 476.7 214 216 2 3.26
TADD1025 1163524 810601 374 -59 63 205.5 36 38 2 4.59
TADD1025 1163524 810601 374 -59 63 205.5 112 118 6 1.66
TADD1026 1163176 810558 370 -57 66 336.5 31 33 2 2.65
TADD1026 1163176 810558 370 -57 66 336.5 227 229 2 2.98
TADD1026 1163176 810558 370 -57 66 336.5 235 239 4 10.29
TADD1027 1163651 810399 380 -72 59 605.4 253 256 3 3.43
TADD1027 1163651 810399 380 -72 59 605.4 341 343 2 3.81
TADD1027 1163651 810399 380 -72 59 605.4 570 574 4 2.93
TADD1028 1163233 810571 370 -54 64 276.3 79 83 4 5
TADD1028 1163233 810571 370 -54 64 276.3 152 154 2 9.18
TADD1028 1163233 810571 370 -54 64 276.3 219 221 2 6.33
TADD1028 1163233 810571 370 -54 64 276.3 226 228 2 41.14
TADD1029 1163230 810559 370 -65 62 425.8 152 154 2 3.6
TADD1029 1163230 810559 370 -65 62 425.8 167 172 5 1.48
TADD1029 1163230 810559 370 -65 62 425.8 355 359 4 125.85
TADD1030 1163527 810433 379 -74 62 525.2 179 181 2 3.12
TADD1030 1163527 810433 379 -74 62 525.2 487 498 11 1.9
TADD1031 1163711 810410 385 -69 58 435.3 211 216 5 1.78
TADD1031 1163711 810410 385 -69 58 435.3 249 251 2 4.03
TADD1031 1163711 810410 385 -69 58 435.3 348 353 5 2.72
TADD1031 1163711 810410 385 -69 58 435.3 377 389 12 3.01
Notes to Accompany Table:
• Grid coordinates are WGS84 Zone 29 North
• Diamond core are sampled every 1m by cutting the core in half to
provide a 2-4kg sample
• Cut-off grade for reporting of intercepts is >1g/t Au with a
maximum of 3m consecutive internal dilution included within the intercept;
only intercepts >=2m and >5 gram x metres are reported
• Samples are analysed for gold by 30g fire assay fusion with AAS
instrument finish; over-range results are reanalysed by 30g fire assay fusion
with gravimetric finish
Table 1 - Section 1: Tabakoroni Sampling Techniques and Data
CRITERIA JORC CODE EXPLANATION COMMENTARY
Sampling techniques · Nature and quality of sampling (e.g. cut channels, random chips, or The samples were collected from reverse circulation (RC) and diamond drill
specific specialised industry standard measurement tools appropriate to the holes.
minerals under investigation, such as down hole gamma sondes, or handheld XRF
instruments, etc.). These examples should not be taken as limiting the broad RC samples were collected on 1m intervals by riffle split (dry) or by scoop
meaning of sampling. (wet), to obtain a 1-3kg sample which was sent to the laboratory for crushing,
splitting and pulverising to provide a 30g charge for analysis. . Following
· Include reference to measures taken to ensure sample representivity splitting adjacent to the bottom-of-hole orientation line, the right-hand side
and the appropriate calibration of any measurement tools or systems used. of the core is sampled in 1m intervals
· Aspects of the determination of mineralisation that are Material to Sampling and sample preparation protocols are industry standard and are deemed
the Public Report. appropriate by the Competent Person.
· In cases where 'industry standard' work has been done this would be
relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g charge for fire
assay'). In other cases, more explanation may be required, such as where there
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (e.g. submarine nodules) may warrant disclosure of
detailed information.
Drilling techniques · Drill type (e.g. core, reverse circulation, open-hole hammer, rotary Drill types used include reverse circulation with face sampling bit and core
air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple drilling using PQ and HQ sized bits. A digital core orientation system is used
or standard tube, depth of diamond tails, face-sampling bit or other type, to define the bottom of the hole which is transferred to the drilled core..
whether core is oriented and if so, by what method, etc.).
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and Appropriate measures are taken to maximise sample recovery and ensure the
results assessed. representative nature of the samples.
· Measures taken to maximise sample recovery and ensure representative No apparent relationship is noted between sample recovery and grade.
nature of the samples.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
Logging · Whether core and chip samples have been geologically and Drill holes were geologically logged by geologists for colour, grainsize,
geotechnically logged to a level of detail to support appropriate Mineral lithology, minerals, alteration and weathering on geologically-domained
Resource estimation, mining studies and metallurgical studies. intervals.
· Whether logging is qualitative or quantitative in nature. Core (or Holes were logged in their entirety (100%) and this logging was considered
costean, channel, etc.) photography. reliable and appropriate.
· The total length and percentage of the relevant intersections logged.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core Reverse circulation samples were collected on 1m intervals by riffle split
taken. (dry) or by scoop (wet) to obtain a 1-3kg sample. Core samples were sawn using
a diamond saw blade with half of the core sent for analysis.
· If non-core, whether riffled, tube sampled, rotary split, etc. and
whether sampled wet or dry. Sample preparation includes oven drying, crushing to 10mm, splitting and
pulverising to 85% passing -75µm. These preparation techniques are deemed to
· For all sample types, the nature, quality and appropriateness of the be appropriate to the material being sampled.
sample preparation technique.
Reverse circulation and core field duplicates were collected by the company at
· Quality control procedures adopted for all sub-sampling stages to a rate of 1:20 samples.
maximise representivity of samples.
Sampling, sample preparation and quality control protocols are of industry
· Measures taken to ensure that the sampling is representative of the standard and all attempts were made to ensure an unbiased representative
in-situ material collected, including for instance results for field sample was collected. The methods applied in this process were deemed
duplicate/second-half sampling. appropriate by the Competent Person.
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and All samples were dispatched to ALS Bamako for gold analysis by 30g fire assay
laboratory procedures used and whether the technique is considered partial or fusion with AAS instrument finish (method code Au-AA25). Over-range results
total. were re-analysed and reported by 30g fire assay fusion with gravimetric finish
(method code Au-GRA21). The analytical method was appropriate for the style of
· For geophysical tools, spectrometers, handheld XRF instruments, etc., mineralisation.
the parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc. No geophysical tools were used to determine elemental concentrations.
· Nature of quality control procedures adopted (e.g. standards, blanks, Quality control (QC) procedures included the use of certified standards
duplicates, external laboratory checks) and whether acceptable levels of (1:40), non-certified sand blanks (1:40) and reverse circulation/core field
accuracy (i.e. lack of bias) and precision have been established. duplicates (1:20).
Laboratory quality control data, including laboratory standards, blanks,
duplicates, repeats, grind size results and sample weights were also captured
into the digital database.
Analysis of the QC sample assay results indicates that an acceptable level of
accuracy and precision has been achieved.
Verification of sampling and assaying · The verification of significant intersections by either independent Verification of significant intersections have been completed by company
or alternative company personnel. personnel and the Competent Person.
· The use of twinned holes. No drill holes within the resource area were twinned.
· Documentation of primary data, data entry procedures, data Drill holes were logged into digital templates with lookup codes, validated
verification, data storage (physical and electronic) protocols. and then compiled into a relational SQL 2012 database using DataShed data
management software. The database has verification protocols which are used to
· Discuss any adjustment to assay data. validate the data entry. The drill hole database is backed up on a daily basis
to the head office server.
Assay result files were reported by the laboratory in PDF and CSV format and
imported into the SQL database without adjustment or modification.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar Collar coordinates were picked up in UTM (WGS84) by staff surveyors using an
and down-hole surveys), trenches, mine workings and other locations used in RTK DGPS with an expected accuracy of ±0.05m; elevations were height above
Mineral Resource estimation. EGM96 geoid.
· Specification of the grid system used. Down hole surveys were collected at 10m intervals using a Reflex EZ-Gyro north
seeking instrument.
· Quality and adequacy of topographic control.
Coordinates and azimuths are reported in UTM WGS84 Zone 29 North.
Tabakoroni drill holes were translated to local mine grid coordinates using 1
point and rotation.
Local topographic control is via LIDAR surveys, satellite photography and
drone UAV aerial survey.
Data spacing and distribution · Data spacing for reporting of Exploration Results. Drill hole spacing was sufficient to demonstrate geological and grade
continuity appropriate for a Mineral Resource and the classifications applied
· Whether the data-spacing and distribution is sufficient to establish under the 2012 JORC Code.
the degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications applied. The appropriateness of the drill spacing was reviewed by the geological
technical team, both on site and head office. This was also reviewed by the
· Whether sample compositing has been applied. Competent Person.
Samples were collected on 1m intervals; no sample compositing is applied
during sampling.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of Holes were drilled predominantly perpendicular to mineralised domains where
possible structures and the extent to which this is known, considering the possible.
deposit type.
No orientation-based sampling bias has been identified in the data.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.
Sample security · The measures taken to ensure sample security. Samples were collected from the drill site and stored on site. All samples
were individually bagged and labelled with unique sample identifiers, then
securely dispatched to the laboratories. All aspects of sampling and dispatch
process were supervised and tracked by SOMIFI personnel.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. External audits of procedures indicate protocols are within industry
standards.
Section 2 Reporting of Exploration Results
CRITERIA JORC CODE EXPLANATION COMMENTARY
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including Drilling at Syama was conducted within the Malian Exploitation Concession
agreements or material issues with third parties such as joint ventures, Permit PE 93/003 which covers an area of 200.6 Km2.
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and environmental settings. Resolute Mining Limited has an 80% interest in the Syama project and the
Exploitation Permit PE 93/003, on which it is based, through its Malian
· The security of the tenure held at the time of reporting along with subsidiary, Sociêtê des Mines de Syama SA (SOMISY). The Malian Government
any known impediments to obtaining a licence to operate in the area. holds a free carried 20% interest in SOMISY.
Tabakoroni drilling was completed within the Finkolo-Tabakoroni Exploitation
Licence PE 13/19. Resolute Mining Limited has an 85% interest in Exploitation
Permit PE 13/19, through its Malian subsidiary, Société des Mines de Finkolo
SA (SOMIFI). The Malian Government holds a free carried 10% interest in SOMIFI
and a free carried 5% interest is held privately.
The Permits are held in good standing. Malian mining law provides that all
Mineral Resources are administered by DNGM (Direction Nationale de la
Géologie et des Mines) or National Directorate of Geology and Mines under the
Ministry of Mines, Energy and Hydrology.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. The Syama deposit was originally discovered by a regional geochemical survey
undertaken by the Direction National de Géologie et des Mines (DNGM) with
assistance from the United Nations Development Program (UNDP) in 1985. There
had also been a long history of artisanal activities on the hill where an
outcropping chert horizon originally marked the present day position of the
open pit.
BHP during 1987-1996 sampled pits, trenches, auger, RC and diamond drill holes
across Syama prospects. Randgold Resources Ltd during 1996-2000 sampled pits,
trenches, auger, RAB, RC and diamond drill holes across Syama prospects.
Etruscan Resources Inc explored Tabakoroni during 2002-2003 by auger, aircore,
RC and diamond drill hole tails. The Tabakoroni area was previously explored
Barrick Gold (1990) by auger, pits, trenches, RAB and diamond core drilling.
Geology · Deposit type, geological setting and style of mineralisation. The Syama Project is found on the northern margin of the Achaean-Proterozoic
Leo Shield which forms the southern half of the West African Craton. The
project area straddles the boundary between the Kadiana-Madinani terrane and
the Kadiolo terrane. The Kadiana-Madinani terrane is dominated by greywackes
and a narrow belt of interbedded basalt and argillite. The Kadiolo terrane
comprises polymictic conglomerate and sandstone that were sourced from the
Kadiana-Madinani terrane and deposited in a late- to syntectonic basin.
Prospects are centred on the NNE striking, west dipping, Syama-Bananso Fault
Zone and Birimian volcano-sedimentary units of the Syama Formation. The major
commodity being sought is gold.
The Tabakoroni deposit is hosted in upright tightly folded greenstone rocks of
the Syama Formation, comprising interbedded basalt and sediment units, and an
overlying complex sequence of deep marine and turbiditic sediments. The
sequence overlying the basalts contains interbedded carbonaceous units (silts
and shales) that are preferentially deformed, and which form the Tabakoroni
Main Shear Zone (TMSZ) that lies along the approximate contact of the
greenstone-sediment sequence. Gold mineralisation occurs within the TMSZ
associated with quartz vein stockworks and stylolitic quartz reefs.
· A summary of all information material to the understanding of the All information, including easting, northing, elevation, dip, azimuth,
exploration results including a tabulation of the following information for coordinate system, drill hole length, intercept length and depth are measured
Drill hole Information all Material drill holes: and recorded in UTM Zone 29 WGS84.
o easting and northing of the drill hole collar The Syama belt is mostly located on the Tengrela 1/200,000 topo sheet (Sheet
NC 29-XVIII).
o elevation or RL (Reduced Level - elevation above sea level in metres) of
the drill hole collar The Tabakoroni local grid has been tied to the UTM Zone 29 WGS84 co-ordinate
system.
o dip and azimuth of the hole
Spectrum Survey & Mapping from Australia established survey control at
o down hole length and interception depth Tabakoroni using AusPos online processing to obtain an accurate UTM Zone 29
(WGS84) and 'above geoid' RL for the origin of the survey control points.
o whole length.
Accuracy of the survey measurements is considered to meet acceptable industry
· If the exclusion of this information is justified on the basis that standards.
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why Drill hole information has been tabulated for this release in the intercepts
this is the case. table of the accompanying text.
For completeness the following information about the drill holes is provided:
· Easting, Northing and RL of the drill hole collars are measured
and recorded in UTM Zone 29 (WGS84)
· Dip is the inclination of the drill hole from horizontal. A drill
hole drilled at -60° is 60° from the horizontal
· Down hole length is the distance down the inclination of the hole
and is measured as the distance from the horizontal to end of hole
· Intercept depth is the distance from the start of the hole down
the inclination of the hole to the depth of interest or assayed interval of
interest.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, Exploration results reported in this announcement are tabulated using the
maximum and/or minimum grade truncations (e.g. cutting of high grades) and following parameters:
cut-off grades are usually Material and should be stated.
· Grid coordinates are WGS84 Zone 29 North
· Where aggregate intercepts incorporate short lengths of high-grade
results and longer lengths of low-grade results, the procedure used for such · Cut-off grade for reporting of intercepts is >=1g/t Au
aggregation should be stated and some typical examples of such aggregations
should be shown in detail. · No top cut of individual assays prior to length weighted
compositing of the reported intercept has been applied
· The assumptions used for any reporting of metal equivalent values
should be clearly stated. · Maximum 3m consecutive internal dilution included within the
intercept
Metal equivalent values are not used in reporting.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of The Syama mineralisation is steeply dipping at approximately 60 degrees from
Exploration Results. the horizontal.
· If the geometry of the mineralisation with respect to the drill hole The majority of the Tabakoroni mineralisation is vertical. There is one
angle is known, its nature should be reported. domain which dips at 45o to the west.
· If it is not known and only the down hole lengths are reported, there The majority of the drill holes are planned at a general inclination of ‑60
should be a clear statement to this effect (e.g. 'down hole length, true width degrees east and as close to perpendicular to the ore zone as possible.
not known').
At the angle of the drill holes and the dip of the ore zones, the reported
intercepts will be slightly more than true width.
Diagrams · Appropriate maps and sections (with scales) and tabulations of Relevant maps, diagrams and tabulations are included in the body of text.
intercepts should be included for any significant discovery being reported
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not Exploration results and infill drilling results are being reported in this
practicable, representative reporting of both low and high grades and/or announcement and tabulated in the body of the text.
widths should be practiced, to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be No geophysical and geochemical data or any additional exploration information
reported including (but not limited to): geological observations; geophysical has been reported in this release, as they are not deemed relevant to the
survey results; geochemical survey results; bulk samples - size and method of release.
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work · The nature and scale of planned further work (e.g. tests for lateral Further drilling is planned.
extensions or depth extensions or large-scale step-out drilling).
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
Section 3 Estimation and Reporting of Mineral Resources
CRITERIA JORC CODE EXPLANATION COMMENTARY
Database integrity · Measures taken to ensure that data has not been corrupted by, for Data have been compiled into a relational SQL database; the setup of this
example, transcription or keying errors, between its initial collection and database precludes the loading of data which do not meet the required
its use for Mineral Resource estimation purposes. validation protocols. The data is managed using DataShed© drill hole
management software using SQL database techniques. Validation checks are
· Data validation procedures used. conducted using SQL and DataShed© relational database standards. Data has
also been checked against original hard copies for 100% of the data, and where
possible, loaded from original data sources.
Resolute completed the following basic validation checks on the data supplied
prior to resource estimation:
Drill holes with overlapping sample intervals
Sample intervals with no assay data or duplicate records
Assay grade ranges
Collar coordinate ranges
Valid hole orientation data.
There are no significant issues identified with the data.
Site visits · Comment on any site visits undertaken by the Competent Person Mrs Susan Havlin, an employee of Optiro Pty Ltd and a Member of the
and the outcome of those visits. Australasian Institute of Mining and Metallurgy is the Competent Person who
has visited this site in February and October 2019.
· If no site visits have been undertaken indicate why this is the
case. All aspects of drilling, sampling and mining are considered by the Competent
Persons to be of a high industry standard.
Geological interpretation · Confidence in (or conversely, the uncertainty of) the geological The digital database used for the interpretation included logged intervals for
interpretation of the mineral deposit. the key stratigraphic zones of Tabakoroni. Detailed geological logs were
available in hardcopy and digital and reviewed where necessary.
· Nature of the data used and of any assumptions made.
There is a high level of confidence for the interpretation of the Tabakoroni
· The effect, if any, of alternative interpretations on Mineral Main Shear Zone (TMSZ) due to the close-spaced grade control drilling at
Resource estimation. surface and the confirmation of the position in the current oxide pits. Since
an independent structural model was created there is high level of confidence
· The use of geology in guiding and controlling Mineral Resource in the geological interpretation of the minor lodes adjacent to the TMSZ.
estimation.
Wireframes used to constrain the estimation are based on drill hole intercepts
· The factors affecting continuity both of grade and geology. and geological boundaries. All wireframes at Tabakoroni have been constructed
to a 1g/t Au cut-off grade for shape consistency.
The mineralisation in the TMSZ is generally quite consistent and drill
intercepts clearly define the shape of the mineralised zones with limited
options for large scale alternate interpretations.
Dimensions · The extent and variability of the Mineral Resource expressed as The mineral resource at Tabakoroni comprises four individual domains. The
length (along strike or otherwise), plan width, and depth below surface to the main zone is the TMSZ, which extends for approximately 1,800 metres along
upper and lower limits of the Mineral Resource. strike; the sub-vertical dipping gold mineralised zone width varies between
1.5 and 15 metres, with an average thickness of 5 metres. The Mineral Resource
is limited in depth by drilling, which extends from surface to a maximum depth
of approximately 450 metres vertically.
There is a zone parallel to the TMSZ which is generally at depth and not as
consistent; this is dominantly in the central part of the deposit. The
northeast (NE) domain is a zone which is striking at 20° and is sub vertical
in the north of the deposit. The southern lode is shallow westerly-dipping
lodes in the southern and central portion of the deposit. The whole of the
Tabakoroni deposit, including domains additional to the TMSZ, extends for 450
metres in the horizontal plane.
Estimation and modelling techniques · The nature and appropriateness of the estimation technique(s) Estimation was completed in Datamine Studio RM using an Ordinary Kriged model
applied and key assumptions, including treatment of extreme grade values, to estimate the gold grade. Grades were estimated into parent block of 5 mE
domaining, interpolation parameters and maximum distance of extrapolation from by 10 mN by 5 mRL with sub- celling down to 1mE by 2 mN by 1 mRL was employed
data points. If a computer assisted estimation method was chosen include a for resolution of the mineralisation boundaries as defined by wireframes.
description of computer software and parameters used. The drill spacing at Tabakoroni varies from 12.5 by 12.5 metres for grade
control to between 25 and 50 metres for the exploration holes.
· The availability of check estimates, previous estimates and/or
mine production records and whether the Mineral Resource estimate takes Drillhole sample data was flagged using domain codes generated from
appropriate account of such data. three-dimensional mineralisation domains. The grade control samples and
exploration samples were composited to 1 metre intervals.
· The assumptions made regarding recovery of by- products.
Variogram orientations were largely controlled by the strike of the
· Estimation of deleterious elements or other non-grade variables mineralisation and downhole variography. Variograms for estimation purposes
of economic significance (e.g. sulphur for acid mine drainage were determined for each domain.
characterization).
Kriging neighbourhood analysis was performed to optimise the block size,
· In the case of block model interpolation, the block size in sample numbers and discretisation levels with the goal of minimising
relation to the average sample spacing and the search employed. conditional bias in the gold grade estimates.
· In the case of block model interpolation, the block size in Mineralisation domains were treated as hard boundaries in the estimation
relation to the average sample spacing and the search employed. process while oxidation surfaces were treated as soft boundaries.
· Any assumptions behind modelling of selective mining units. Three search passes were used, with the first search pass set to the range of
the variogram for each element. A minimum of 8 and a maximum of 30 samples
· Any assumptions about correlation between variables. were used. The search stayed the same for the second pass but was increased
by a factor of 2 for the third and final pass. The minimum number of samples
· Description of how the geological interpretation was used to was reduced to 6 for the second pass and 4 for the third pass.
control the resource estimates.
No deleterious elements were found in the ore.
· Discussion of basis for using or not using grade cutting or
capping. No selective mining units have been assumed.
· The process of validation, the checking process used, the Top cuts were applied to reduce the variability of the data and to remove the
comparison of model data to drill hole data, and use of reconciliation data if outliers.
available.
The estimated block model grades were visually validated against the input
drillhole data and comparisons were carried out against the drillhole data and
by northing and elevation slices. Global comparison between the input data
and the block grades for each variable is considered acceptable (±10%).
Comparison with the mine production to date was carried out and was within an
acceptable limit.
Moisture · Whether the tonnages are estimated on a dry basis or with natural All tonnages have been estimated on a dry basis.
moisture, and the method of determination of the moisture content.
Cut-off parameters · The basis of the adopted cut-off grade(s) or quality parameters Mineral Resources for open pit extraction have been reported at a 1 g/t Au
applied. grade cut-off and above a US$2000/oz optimised shell. The Mineral Resources
for underground mining are undiluted and the mineralised blocks (within the
mineralisation wireframes) have been reported within MSO wireframes created at
US$2,000/oz which is equivalent to 1.75 g/t Au cut-off grade.
Mining factors or assumptions · Assumptions made regarding possible mining methods, minimum A Pre-Feasibility study determined the mining method would be by long hole
mining dimensions and internal (or, if applicable, external) mining dilution. open stoping. No Mineral Resource margin (external) dilution has been
It is always necessary as part of the process of determining reasonable modelled. A minimum stope dip of 30 degrees on the footwall was applied.
prospects for eventual economic extraction to consider potential mining More rigorous mining assumptions and parameters will be applied during the
methods, but the assumptions made regarding mining methods and parameters when conversion to Ore Reserves.
estimating Mineral Resources may not always be rigorous. Where this is the
case, this should be reported with an explanation of the basis of the mining
assumptions made.
Metallurgical factors or assumptions · The basis for assumptions or predictions regarding metallurgical No metallurgical factors or assumptions have been made during the resource
amenability. It is always necessary as part of the process of determining estimation process as these will be addressed during the conversion to Ore
reasonable prospects for eventual economic extraction to consider potential Reserves.
metallurgical methods, but the assumptions regarding metallurgical treatment
processes and parameters made when reporting Mineral Resources may not always
be rigorous. Where this is the case, this should be reported with an
explanation of the basis of the metallurgical assumptions made.
Environmental factors or assumptions · Assumptions made regarding possible waste and process residue It is a requirement of Decree No.03-594/P-RM of 31 December 2003 of Malian law
disposal options. It is always necessary as part of the process of determining that an Environmental and Social Impact Study (Étude d'Impact Environmental
reasonable prospects for eventual economic extraction to consider the et Social - EIES) must be undertaken to update the potential environmental and
potential environmental impacts of the mining and processing operation. While social impacts of the mine's redevelopment. The EIES for the Syama Gold Mine
at this stage the determination of potential environmental impacts, (including Tabakoroni) was approved in November 2007 and an Environment Permit
particularly for a green fields project, may not always be well advanced, the (07- 0054/MEA - SG) was issued by the Ministry of Environment and Sanitation
status of early consideration of these potential environmental impacts should on 22 November 2007. The Ministry of Environment conducts timely reviews of
be reported. Where these aspects have not been considered this should be the Syama Gold Mine to ensure that company maintains compliance with the EIES
reported with an explanation of the environmental assumptions made. guidelines.
At Syama and Tabakoroni, there are three key practices for disposal of wastes
and residues namely, stacking of waste rock from open pit mining; storage of
tailings from mineral processes; and "tall-stack dispersion" of sulphur
dioxide from the roasting of gold bearing concentrate. All waste disposal
practices are in accordance with the guidelines in the EIES.
The Environmental & Social Impact Study - "Société des Mines de Syama,
Syama Gold Mine, Mali", dated 2007 indicated there was minimal potential for
acid mine drainage from waste rock due to the elevated carbonate content which
buffers a potential acid generation. Resolute maintains a plan for
progressive rehabilitation of waste rock landforms as part of ongoing mine
development and waste rock dumping.
The landform of tailings impoundments does not have a net acid generating
potential. The largest volume is flotation tailings where the sulphide
minerals have already been removed from the host rock. Its mineralogy includes
carbonates which further buffer any acid-formation potential from sulphides
that may also be present.
Cyanide levels in the leached-calcine tailings are typically less than 50 ppm
in the weak acid dissociable form. Groundwater away from the tailings landform
is intercepted by trenches and sump pumps.
Sulphur dioxide is generated from the roasting of gold concentrate so that
gold can be extracted and refined. Tall-Stack "dispersion" of the sulphur
dioxide emission is monitored continuously. Prevailing weather and dissipation
of the sulphur dioxide is modelled daily to predict the need to pause the
roasting process to meet the air quality criteria set out in the Environmental
& Social Impact Study.
Bulk density · Whether assumed or determined. If assumed, the basis for the Site personnel have completed numerous bulk density comparative estimates on
assumptions. If determined, the method used, whether wet or dry, the frequency HQ drill core to assess variability using the Archimedes method of dry weight
of the measurements, the nature, size and representativeness of the samples. versus weight in water. This method was used for 71% of the bulk density
measurements. The other 29% is by unknown method.
· The bulk density for bulk material must have been measured by
methods that adequately account for void spaces (vugs, porosity, etc), On the basis of the data collected the following SG estimates were applied to
moisture and differences between rock and alteration zones within the deposit. the model by weathering type:
· Discuss assumptions for bulk density estimates used in the
evaluation process of the different materials.
Oxide 2.12 t/m3
Transitional 2.38 t/m3
Fresh 2.72 t/m3
Classification · The basis for the classification of the Mineral Resources into The Measured Mineral Resource classification is based on good confidence in
varying confidence categories. the geology and gold grade continuity with 12.5 m x 12.5 m spaced drillhole
density in the central part of the deposit.
· Whether appropriate account has been taken of all relevant
factors (i.e. relative confidence in tonnage/grade estimations, reliability of The Indicated Mineral Resource classification is based on good confidence in
input data, confidence in continuity of geology and metal values, quality, the geology and gold grade continuity with less than 50 m x 50 m spaced
quantity and distribution of the data). drillhole density in the central part of the deposit.
· Whether the result appropriately reflects the Competent Person's The Inferred Mineral Resource classification is applied to extensions of
view of the deposit. mineralised zones on the margins of the deposit where drill spacing is more
than 50 m x 50 m and the extents of mineralisation at depth.
The validation of the block model has confirmed satisfactory correlation of
the input data to the estimated grades and reproduction of data trends.
The Mineral Resource estimate appropriately reflects the view of the Competent
Persons.
Audits or reviews · The results of any audits or reviews of Mineral Resource The Mineral Resource has been audited internally and in conjunction with
estimates. resource consultants at Optiro Pty Ltd as part of the routine validation
process. There has been no external review of the Mineral Resource estimate.
Discussion of relative accuracy/ confidence · Where appropriate a statement of the relative accuracy and The relative accuracy of the Mineral Resource estimate is reflected in the
confidence level in the Mineral Resource estimate using an approach or reporting of Measured, Indicated and Inferred resource categories as defined
procedure deemed appropriate by the Competent Person. For example, the by 2012 JORC Code guidelines.
application of statistical or geostatistical procedures to quantify the
relative accuracy of the resource within stated confidence limits, or, if such The estimate is considered to be relevant to an annual level of reporting of
an approach is not deemed appropriate, a qualitative discussion of the factors tonnage and grade.
that could affect the relative accuracy and confidence of the estimate.
The estimation was compared with the production history at Tabakoroni and it
· The statement should specify whether it relates to global or is within 15% which is within the limits for the relevant classifications.
local estimates, and, if local, state the relevant tonnages, which should be
relevant to technical and economic evaluation. Documentation should include
assumptions made and the procedures used.
· These statements of relative accuracy and confidence of the
estimate should be compared with production data, where available.
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