Resolute Mining (ASX:RSG) has returned a 28% increase to a previous resource estimate for the Doropo Gold Project in northern Côte d’Ivoire after its recent acquisition in the June quarter.
The company measured a resource estimate of 114 million tonnes grading at 1.19 grams per tonne gold for 4.4 million ounces across both indicated and inferred categories.
Centamin previously established a resource of 3.4 million ounces in its July 2024 Definitive Feasibility Study (DFS), before the gold explorer was acquired by AngloGold Ashanti (NYSE:AU) that following November, as reported by Mining.com.au.
Resources are commonly found within 150m of surface and the larger deposits, Kilosegui and Souwa, which contain around 2.4 million ounces of the estimate collectively.
Kilosegui and Souwa remain open along strike and at depth.
CEO Chris Eger described the increase as a “promising first step” for the company following the drastically changing gold environment.
“We are confident that Doropo will be a high-quality long-life mine underpinned by the expectation of further resource growth at Kilosegui and Souwa,” Eger says.
“The major increase over the existing resource indicates major upside at Doropo and is a key consideration in the updated DFS.”
Resolute intends to return an updated DFS, along with an ore reserve, by the end of this year, with the project expecting to produce from 2028 onwards.
Doropo is expected to bolster over the 500,000 ounces mark once becoming a producer.
The previous DFS assumed a gold price of US$2,000 ($3,050) per ounce for the pit-constrained resources, and US$1,450 per ounce.
Following rerun of new pit optimizations on all block models, Resolute has reported the project’s resource within a $3,000 per ounce pit shell and above a cut-off of 0.3 grams per tonne.
Gold has seen a recent spike in value, following a 43.26% increase over the past year.
Trading Economics reports the commodity valued at US$3,591.60 per ounce as of 8 September.
Write to Maddison Elliott at Mining.com.au
Images: Resolute Mining
