Regis Resources expands open-pit and underground reserves at Duketon
Regis told the Australian Securities Exchange this week that Duketon open-pit ore reserves grew to 640,000 ounces across several open pits and stockpiles.
The company also said exploration delivered the fifth consecutive year of underground ore reserves growth, with an expansion of 550 per cent since 2019.
Duketon underground now had 441,000oz of ore reserves, it said.
Overall, across both Duketon and the Tropicana gold mine — which Regis holds 30 per cent of in a joint venture with global mining giant AngloGold Ashanti — Regis had total mineral resources of 7.5 million ounces and ore reserves of 1.7Moz.
The ore reserve figure has fallen from 3.5Moz a year ago because that figure included 1.89Moz at the McPhillamys project in New South Wales, which has since become the subject of court action by Regis after former Federal environment minister Tanya Plibersek's rejection of the $1 billion project on Aboriginal cultural heritage protection grounds last August.
The 7.5Moz mineral resources figure is an increase on the 7Moz of a year ago.
Regis managing director and chief executive Jim Beyer said the latest update reflected the strength of the company's disciplined and systematic investment in exploration and mine planning.
'At Duketon, we've grown open-pit ore reserves and achieved a fifth consecutive year of underground reserve growth, a direct outcome of the team's deep geological insight and focus on converting resources into reserves,' he said.
'Our exploration programs continue to enhance the mineral resource base, and we remain confident in the ongoing potential for further growth and life extension across our portfolio.
'At Tropicana, we've seen strong reserve growth in the underground areas, further reinforcing the long-term value from that operation.
'These outcomes continue to support our long-term strategy to expand our underground portfolio while delivering ongoing reserve conversion and mine-life extension across our existing operations.'
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