Regis greenlights two underground projects

Regis Resources (ASX:RRL) has approved two projects in support of its broader underground growth strategy.

The company says the Garden Well Main (new underground mining area) and Rosemont Stage 3 (underground extension) are value accretive across a range of gold prices and are expected to deliver a steady state annualised production target of between 100,000 ounces to 120,000oz from FY27.

The company says the mineralisation within both underground mines has the potential to extend down plunge. Further exploration success has potential to add mine life and enhance the value of these underground mines.

Managing Director and Chief Executive Officer Jim Beyer says the development decision for these underground mines is another important milestone as Regis progresses on delivering into its underground growth strategy. 

“At both Garden Well Main and Rosemont, we have again expanded our underground Reserves. Since we announced our maiden resource at Rosemont in 2019, each year, we have continued to enhance the value of the underground by increasing our reserves. This is a trend across our underground mines that we aim to continue well into the future,” he says.

“With Garden Well Main and Rosemont Stage 3 underground mines we will be operating three independent underground mining areas. Given the way that the Duketon orebodies have behaved historically and based on our current exploration results, we are confident in our ability to continue to expand our underground mining footprint. 

We are well on the way to operating four to five underground mines at Duketon to deliver sustainable gold production of 200,000oz to 250,000oz of gold each year. While the growth in underground is a vital part of our value growth strategy we also continue exploring for additional high value, large scale open pits across our dominant holding across the Duketon Greenstone Belt.”

Images: Regis
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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.