Resolute Mining Limited announced an updated Mineral Resource Estimate from Syama North with continued positive exploration drilling results. These results confirm the potential for a new open pit operation adjacent to the Syama processing complex. Syama North Exploration Program: Diamond and RC drilling has continued throughout 2022 with two drill rigs targeting mineralization extensions over the entire length of the Syama North Project from Alpha in the South to A21 in the North.

The drilling was highly successful with excellent drill results reported to the market in June 2022 and in August 2022. A major upgraded Mineral Resource Estimate was announced in August 2022 with a Global Mineral Resource of 20Mt at 3.1g/t Au for 2 million ounces of gold. Since the August announcement, drilling has focussed on improving the confidence and classification of the Mineral Resource.

The majority of the drilling since the last announcement was infill drilling to achieve a nominal 50 x 50m pattern required for Indicated classification. There was also extensional drilling completed in areas of wide zones of mineralisation. Results from this drilling campaign were above expectations with ore grade intervals seen in most holes.

Better results received since the previous ASX announcement. QVRC598 - 17m at 5.33g/t Au from 53m; QVRC615 - 22m at 4.74 g/t Au from 118m; QVRC631 - 36m at 3.03 g/t Au from 57m; QVRD587 - 18m at 70.40g/t Au from 198m; QVRD592 - 18m at 5.04g/t Au from 173m; QVRD603 - 57m at 3.63g/t Au from 150m; QVRD604 - 73m at 3.97g/t Au from 168m; QVRD609 - 21m at 12.73g/t Au from 156m; QVRD609 - 10m at 11.89g/t Au from 191m; QVRD610 - 52m at 3.73g/t Au from 171m; QVRD618 - 20m at 4.72g/t Au from 191m. The wide zone of gold mineralisation discovered in QVRD538 (46m at 1.83g/t Au from 143m and 30m at 3.88g/t Au from 202m), which was reported in August 2022 was the main focus for infill drilling since the last announcement.

Infill drilling has confirmed and expanded this wide zone with excellent intersections in QVRD603 (57m at 3.63g/t), QVRD604 (73m at 3.97g/t), QVRD609 (21m at 12.73g/t) and QVRD610 (52m at 3.73g/t). These results have underpinned a large increase in the volume of gold mineralisation. The high-grade zones of mineralisation at Quartz Vein Hill located at the south of the A21 were reported in the June and August announcements 2022.

Infill and extensional drilling was carried out using mainly RC drilling due to the shallow depths of the mineralisation. Results from this drilling continued the success of previous programs with excellent intersections in many holes. Notably very high-grade results were seen in QVRD587 (18m at 70.4g/t), QVRD592 (18m at 5.04g/t), QVRC598 (17m at 5.33g/t) and QVRC615 22m at 4.74g/t) which have extended the mineralisation in the Quartz Vein Hill area.

The gold grades and widths in this southern zone are sufficient to allow for underground operations if strip ratios preclude open pit mining. The Syama North gold deposit remains open down-dip over the entire 6km strike length. Diamond drilling is ongoing and expected to continue throughout 2023 to extend and increase Mineral Resource confidence in the deposit.