Regis Resources (ASX: RRL) has welcomed the update of the Tropicana JV Mineral Resources to 6.25Moz (100%) and Ore Reserves to 2.10Moz (100%) as at 31 December 2022.
We are very pleased with the update of Resources and Reserves at Tropicana in Western Australia. Both underground mines outpaced depletion and are delivering on our belief that they will continue to grow down plunge for many years,” Managing Director and CEO, Jim Beyer, said.
“Tropicana truly is a world class asset in a Tier 1 location and these Resources and Reserves underpin our expectation that it will continue to generate strong cash flows for the next 10+ years.”
Highlights
- Regis 30% share of Tropicana JV Mineral Resources Estimate (MRE) updated to 32Mt at 1.8 g/t Au for 1.88Moz as at 31 December 2022
- Regis 30% share of Tropicana JV Ore Reserves Estimate (ORE) updated to 11Mt at 1.8 g/t Au for 0.63Moz as at 31 December 2022
- Underground Reserves increased by 15% outpacing depletion by 50koz
- Both Boston Shaker and Tropicana underground mines grew Reserves in CY22 and drill data is indicating a third potential underground mine at Havana
- The increase in new Mineral Resources of 1,150koz (100%) was offset by CY22 depletion (540koz) and increases to cost assumptions and modelling (1,300koz) for mining and processing
- The increase in new Ore Reserves of 470koz (100%) was offset by CY22 depletion (440koz) and increases to cost assumptions and modelling (310koz) for mining and processing
- The Mineral Resources and Ore Reserves continue to reinforce an expected mine life of 10+ years
