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August 2016
MODERN MINING
13
MINING News
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.
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.”