Commodities, Exploration/Development, Gold, News

Regis buoyed by Duketon and Tropicana prospects

Gold exploration

Regis Resources’ Duketon gold project and Tropicana joint venture in Western Australia are showing significant growth potential consolidated by positive exploration findings.

The company is carrying out drilling and exploration activities in and around the operations with the aim to extend the lives of the mines.

Drilling beneath Duketon’s Garden Well main pit has demonstrated the potential for a new underground resource to be established, along with an additional underground production area.

The deepest hole in the system has delivered an intersection of 24.5 metres at 3.2 grams per tonne (g/t) of gold.

Regis stated that 2021 had seen the Moolart Well deposit return its most significant fresh-rock mineralisation in its 11-year history.

Drilling results have included intersections such as 10 metres at 13.2 g/t gold, 26 metres at 7.6 g/t gold and 19 metres at 5.7g/t gold.

The Ben Hur deposit has delivered thick, high-grade intersections in recent drilling efforts, paving the way for enhanced open pit resources at the site.

Regis is also buoyed by its Betelguese deposit which continues to produce significant mineralisation. Drilling has returned anomalous results over a six-kilometre strike length.

At Tropicana, located adjacent to Duketon, Regis has reported strong exploration results from its Boston Shaker, Havana and Havana South deposits.

Boston Shaker has demonstrated down-plunge growth potential up to 200m below the current resource. Findings include 35 metres at 4.3 g/t gold (within current resource) and 22 metres at 3 g/t (down-plunge).

Regis Resources managing director Jim Beyer said the exploration results validated the company’s current growth strategy.

“Our investment in organic growth continues to return positive results at both Duketon and Tropicana. This supports our view that these operations will have mine lives well in excess of the current reserves,” he said.

“Regional exploration continues to advance early-stage projects, showing the potential for further discoveries in the belts.

“Drill testing of target areas is identifying strong vectors to economic mineralisation and increasing the geological understanding in new highly prospective but poorly explored areas.”

In the 2020 financial year, Regis produced 352,000 ounces of gold from the Duketon gold project and 463,000 ounces of gold from Tropicana, which it shares with AngloGold Ashanti.

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