ASX-listed gold producer and explorer Regis Resources announces the development of Garden Well Main and Rosemont Stage 3 underground mines in Western Australia, in support of its underground growth strategy. This will also see an increase in its underground Ore Reserves with the announcement of mining inventories at both Garden Well Main and Rosemont Stage 3.
Managing Director and Chief Executive Officer of Regis Resources, Mr Jim Beyer said: “The development decision for these value accretive underground mines is another important milestone as Regis progresses on delivering into its underground growth strategy. We continue to demonstrate the growth potential of our underground mines. At both Garden Well Main and Rosemont, we have again expanded our underground Reserves. Since we announced our Maiden Resource at Rosemont in 2019, each year, we have continued to enhance the value of the underground by increasing our Reserves. This is a trend across our underground mines that we aim to continue well into the future.
“With Garden Well Main and Rosemont Stage 3 underground mines we will be operating three independent underground mining areas. Given the way that the Duketon orebodies have behaved historically and based on our current exploration results, we are confident in our ability to continue to expand our underground mining footprint. We are well on the way to operating four to five underground mines at Duketon to deliver sustainable gold production of 200koz to 250koz of gold each year. While the growth in underground is a vital part of our value growth strategy we also continue exploring for additional high value, large scale open pits across our dominant holding across the Duketon Greenstone Belt.”