The Resolute Mining Ltd (ASX: RSG) share price is in focus after the company announced the Mineral Resource Estimate at its ABC Project in Côte d'Ivoire has now reached over 3 million ounces of contained gold, up from 2.16Moz last year.
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What did Resolute Mining report?
- Expanded Inferred Mineral Resource Estimate to 133 million tonnes at 0.71g/t gold for 3.0 million ounces (at 0.3g/t cut-off)
- Majority of resource within 250m of surface, with deposits open along strike and at depth
- Planned $15–25 million work programme for 80,000m of additional drilling and feasibility studies through 2027
- Currently seven rigs onsite, increasing to eleven in August to accelerate resource growth
- Focus on infill drilling, technical, environmental, social, and metallurgical studies
What else do investors need to know?
Resolute Mining's ABC Project aims to become the company's fourth operating mine, with ongoing drilling continuing to extend mineralisation beyond previously defined resource areas. The updated mineral resource is an important milestone, giving confidence in the long-term growth potential of the ABC deposits.
Exploration at the Moya prospect, 8km north of the main Kona deposits, has also delivered encouraging gold intercepts, suggesting possible additional future resources. Work is underway on further technical studies, environmental baseline work, and site infrastructure upgrades to support the next stage of project development.
What did Resolute Mining management say?
Chris Eger, Managing Director and CEO, said:
ABC continues to advance as a priority growth project for Resolute in Côte d'Ivoire. Since acquiring the asset last year, we have built strong momentum through exploration with the updated MRE representing a key milestone in the Project's development pathway.
The updated MRE shows the potential scale of ABC. Importantly, mineralisation remains open along strike and at depth at both deposits, and we see clear opportunities for further resource growth through ongoing drilling.
Our focus has now shifted to the next phase of project de-risking and progressing feasibility studies. This will be achieved from the approved work programme which will include further drilling, metallurgical testwork, environmental and social baseline studies, permitting, geotechnical and infrastructure work.
ABC is being advanced with the objective of becoming Resolute's fourth mine in West Africa and our second mine in Côte d'Ivoire. We believe ABC can be an important contributor to our strategy of building a diversified, multi-asset gold platform.
What's next for Resolute Mining?
Resolute's key objective is to progress the ABC Project through substantial infill and extension drilling, feasibility studies, and permitting over the next 12 to 18 months. The company aims to convert much of the resource to a higher-confidence Indicated category, moving closer to a future development decision.
The expanded work programme, including environmental and social impact assessments and site infrastructure upgrades, positions ABC as a strong growth opportunity within Resolute's West African strategy. Investors can expect frequent updates as drilling continues and technical studies progress.
Resolute Mining share price snapshot
Over the past 12 months, Resolute Mining shares have risen 42%, outperforming the All Ordinaries Index (ASX: XAO), which is flat over the same period.
