Regis Resources (ASX:RRL) has released updated Group Mineral Resources numbers of 9.92Moz and Group Ore Reserves of 4.14Moz.
Highlights:
- An increase in new Mineral Resources of 150koz was offset by CY21 depletion (490koz) and revisions to Resource model assumptions (100koz)
- An increase in new Ore Reserves of 140koz (100%) was offset by CY21 depletion (490koz) and revisions to Reserve model assumptions (340koz)
- Long term gold price assumptions for the calculation of Reserves and Resources maintained at one of the lowest in the industry at a weighted average of $1,623/oz for Reserves and $2,015/oz for Resources
- Rosemont and Garden Well underground Reserve growth outpaced depletion as new intercepts continue to show excellent potential for further mine life extension at Duketon
- New intercepts at Tropicana and Boston Shaker continue to give confidence to a 10+ year mine life at the Tropicana JV.
- An area south of Rosemont on the Rosemont South Trend has returned some initially promising results including: 12m @ 6.0 g/t gold from 40m and 10m @ 110 g/t gold from 140m to the end of hole
Managing Director and CEO, Jim Beyer, said the Group Mineral Resources and Ore Reserves provide the strong platform to launch the next phase of growth for the company.
We have a portfolio of long-life assets that are all in the Tier 1 location of Australia. Our Reserves underpin a Reserve life of more than 9 years and provide a strong platform for the company’s ongoing growth,” Mr Beyer said.
“Our Ore Reserves are estimated at one of the lowest gold price assumptions in the industry thereby continuing to position the business to be resilient through the cycles.
“Duketon underground reserves growth continues to outpace depletion and regional exploration works continue to identify early stage, but exciting intercepts, in close proximity to our existing mills. Overall we are delivering outcomes that position Regis for ongoing value growth.”
