Regis Resources (ASX:RRL) Updates Tropicana Ore Reserves
Ore Reserves and Mineral Resources Update
Regis Resources (ASX:RRL) announced an increase in its Tropicana Joint Venture Ore Reserves to 1.9Moz and Mineral Resources to 5.4Moz as of 31 December 2024. The company’s 30% share translates to 0.6Moz in Ore Reserves and 1.6Moz in Mineral Resources.
Underground Reserves Growth
In CY24, underground Ore Reserves grew by 178koz, offsetting a depletion of 198koz and achieving a 90% replacement rate. Since 2018, underground Ore Reserves have expanded by 972koz against a depletion of 648koz, marking a net growth of 202%.
Future Exploration Plans
Exploration activities in 2024 have established a robust pipeline of underground growth opportunities. Ongoing drilling aims to test and extend mineralisation, supporting the expectation that Tropicana will generate strong cash flows for over the next decade.
Executive Comments
CEO and Managing Director Jim Beyer stated, “We are very pleased with the update of Ore Reserves and Mineral Resources at Tropicana and the ongoing year on year growth delivered by the team. The results clearly continue the trend of underground Ore Reserves growth. Impressively, before depletion, Ore Reserves within the undergrounds at Tropicana have grown by nearly one million ounces of gold since an initial Underground Ore Reserve of 317koz was declared for Boston Shaker in 2018. With the strong results the team regularly delivers we remain confident that Tropicana will continue to generate strong cash flows for the next 10+ years.”
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