By: Creamer media

As part of the update, optimisations of the resource have been completed at a gold price assumption of $3 000/oz compared with $2 000/oz in the previous 2023 mineral resource estimates (MRE).

Resolute notes that the updated MRE of 4.4-million ounces represents a substantial increase of about one-million ounces from the previous MRE of 3.4-million ounces with 84% of contained ounces in the measured and indicated resource category.

The company says it is confident of further growth of the mineral resources as current optimisations are based on conservative pit shell assumptions and the two largest prospects, Kilosegui and Souwa that contain about 2.3-million ounces of the MRE, remain open along strike and at depth.

Resolute says it anticipates that, based on the plant capacity outlined in the 2024 DFS, the increase in mineral resources will extend the mine life by at least five years beyond the original ten-year plan.

The conversion of measured and indicated resources to reserves was about 61% in the 2024 DFS.

Resolute notes that it is in the process of optimising pit designs and incorporating revised capital and operating cost estimates to update the ore reserves of Doropo.

This is being done at a gold price assumption of $1 950/oz – compared with $1 450/oz in the 2024 DFS.

The company says the updated DFS is expected to maintain a production profile, similar to the 2024 DFS, of more than 200 000 oz/y in the first four years of production.

Resolute says all workstreams for Doropo are on track.

The updated DFS, being undertaken by ASX-listed Lycopodium, is targeted for the fourth quarter of this year, along with an updated ore reserve.

Resolute is awaiting approval of the exploitation permit by the Interministerial Commission followed by signing of the Presidential Decree. Following this, a financial investment decision is expected by the end of this year.

Resolute MD and CEO Chris Eger describes this increase in the size of the mineral resource at Doropo as a promising first step and one the company expected given the change in the gold environment since Centamin’s DFS published in July 2024.

“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.

“The major increase over the existing resource indicates major upside at Doropo and is a key consideration in the updated DFS. We are continuing the optimisation studies and expect to provide the updated DFS and ore reserve by the end of the year,” he adds.