Modern Mining August 2016

MINING News

High grade results from deep drilling at Syama Resolute’s Managing Director and CEO, John Welborn, says he is delighted by the positive exploration results: “Syama is a world class orebody and these results highlight the exceptional size and quality of the deposit. Resolute has commenced development of an underground mine at Syama which the recently released Definitive Feasibility Study demonstrated will deliver strong margins for Resolute over an operating life of more than 12 years. Site produc-

tion from Syama is expected to reach 250 koz/a based on our existing models. “The DFS is based on the current underground reserve which has not yet been updated with results reported from the deep drilling programme. We expect to materially increase the Syama underground resource in due course. In addition to opportunities for a substan- tial increase in the already impressive mine life, we will consider the potential to expand future production.” 

ASX-listed Resolute Mining reports new broad high grade results from deep drilling at the Syama gold mine in Mali. The Syama deep drill- ing programme was commenced in late 2015 with the ambition of substantially expanding the Syama underground resource. Positive results have been previously reported for the first two drill holes of the programme. Results have since been received from a further seven holes with significant intercepts demonstrating that mineralisation at Syama remains open to the north and south at depth. The results highlight the potential for substantial future resource growth. KEFI restructures its board of directors AIM-listed KEFI Minerals, the gold explora- tion and development company with projects in Saudi Arabia and Ethiopia, has announced that its board of directors is being restructured as from August 2016 as part of the company’s transition towards gold production. It is intended that Mark Wellesley-Wood, an experienced African mining operator, will join the board as Non-Executive Director. He will also serve as Chairman of the newly-created Technical Review Committee while Professor Ian Plimer will serve as Chairman of the newly- created Exploration Review Committee. The existing roles of Deputy Chairman and Senior Independent Director will pass from Professor Plimer toWellesley-Wood as from January 2017. The two new committees will independently review technical and exploration matters dur- ing the company’s planned rapid expansion. This will allow Jeff Rayner to step down from the board and focus on a more free-ranging role to identify value adding opportunities for KEFI’s next stage of development. Rayner will also continue to advise and mentor the exploration team, which remains under Group Exploration Manager, Dr Fabio Granitzio. KEFI Minerals’ Tulu Kapi gold project in Western Ethiopia is being rapidly progressed towards development, with themining licence having been granted in April 2015. Latest esti- mates for annual gold production from the Tulu Kapi project are approximately 100 000 oz a year for a 10-year period at All-in Sustaining Costs (AISC) of approximately US$741/ oz to US$762/oz at a gold price range of US$1 200/oz to US$1 500/oz. 

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