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Regis Resources (ASX:RRL) has identified significant potential upside at the Tropicana joint venture at its Western Australian gold project, which the company now believes will extend the project’s mine life by some distance.
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A 30% interest holder, Regis also reported an updated mineral resource for Tropicana of 5.4 million ounces and ore reserve growth to 1.9 million ounces.
Regis’ chief executive and managing director, Jim Beyer, noted that underground ore reserves at Tropicana grew to 0.2 Moz. From the initial underground ore reserve unveiled in CY18, the growth of 1.3 Moz has now exceeded depletion (808koz) by approximately 500,000 ounces.
He also noted CY25 drilling at Tropicana has increased the JV’s confidence in down plunge extensions of known mineralisation and identified new underground mineralisation supporting further resource definition drilling.
“It is very pleasing to see the ore reserves and mineral resources at Tropicana continue to grow and extend the mine life in line with our expectations,” he said.
“The ongoing, year-on-year growth delivered by the team is an excellent result for our shareholders and clearly continues the trend of underground ore reserves growth exceeding depletion.”
Mr Beyer said underground drilling continued to increase confidence in the current mineralisation across Boston Shaker, Havana and Tropicana, while at the same time further testing the fault offset location of the potential Havana high-grade shoot extension and the conceptual Cobbler target.
“Our exploration during 2025 established a strong pipeline of underground growth opportunities that the JV will continue to test over the coming months and years.
“Tropicana is a world-class asset with a clear growth pipeline and a solid track record of underground ore reserves growth. With the strong results the team regularly delivers, we remain confident that Tropicana will continue to generate strong cash flows well into the next decade.”
RRL is steady at 1.8c this morning.
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