Regis Resources (ASX: $RRL) reports updated Mineral Resources and Ore Reserves at Tropicana JV

Regis Resources Ltd (ASX: $RRL) has announced the updated Mineral Resources and Ore Reserves for its Tropicana Joint Venture (JV) as at 31 December 2023. The Mineral Resources have been reported at 5.9 Moz, comprising 1.3Moz Open Pit Resources, 4.2Moz of Underground Resources, and 0.4Moz of stockpiled Resources. The Ore Reserves stand at 2.3Moz, consisting of 1.2Moz Open Pit, 0.7Moz Underground, and 0.4Moz of Stockpiled Reserves. The update indicates an overall increase in Ore Reserves compared to the previous year, with decreases in Open Pit areas and increases in Stockpile and Underground Reserves.

Regis' Managing Director and CEO, Jim Beyer, comments on Tropicana JV update

Our Tropicana asset keeps on delivering value growth and we are extremely pleased with the update of increased underground Resources and Reserves. The underground mines outpaced total site depletion and continue delivering on our strongly held belief that Reserves will continue to grow down plunge for many years. Supporting this view are the recent deep drill holes well down plunge of the existing Resource shell that provide clear indication of the potential for significantly more mineralisation. Tropicana truly is a world class asset in a Tier 1 location and these Resources and Reserves underpin our expectation that it will continue to generate strong cash flows for the next 10+ years.

Summary of Regis Resources' Tropicana JV update

Regis Resources Ltd (ASX: $RRL) has reported an increase in underground Resources and Reserves at its Tropicana Joint Venture (JV) as at 31 December 2023. The update indicates growth in underground Reserves by 75% from 0.4Moz to 0.7Moz, with both Boston Shaker and Tropicana underground mines contributing to the growth. Additionally, a maiden Reserve was declared at the Havana underground following the completion of the underground Prefeasibility Study. While Mineral Resources decreased by 0.3Moz, the overall Mineral Resources and Ore Reserves continue to reinforce an expected mine life of 10+ years. Jim Beyer, Regis' Managing Director and CEO, expressed satisfaction with the update, emphasizing the asset's value growth and the expectation of strong cash flows for the next decade. The Tropicana asset is positioned as a world class asset in a Tier 1 location, with the Resources and Reserves providing a solid foundation for future growth and sustainability.