JERSEY, CHANNEL ISLANDS--(Marketwire - November 30, 2009) - Randgold Resources Limited (
LSE:
RRS) (
NASDAQ:
GOLD) today announced a material increase in the indicated
mineral resource of its recently acquired Kibali gold project in the
Democratic Republic of the Congo.
The company said, following an update of the existing estimates by Cube
Consulting Pty Ltd (Cube), the indicated mineral resource was now 13.93 Moz
which represents an increase of 23% over the previous indicated mineral
resource of 11.29 Moz. 7.67 Moz at a grade of 6.08 g/t from the Karagba-
Chauffeur-Durba (KCD) deposit is now classified as an underground indicated
mineral resource and represents an increase of 118% over the previous
declared underground indicated mineral resource of 3.53 Moz at a grade of
5.1 g/t. Total inferred resources declined from 11.23 Moz to 5.83 Moz but
increased in grade from 3.3 g/t to 3.55 g/t. The decline in inferred
resources resulted partially from conversion to indicated mineral resources
as well as Randgold Resources' requirement that all resource estimates
reflect only those mineral resources for which there is a reasonable
prospect for eventual economic extraction. The Cube update incorporated
the results from infill drilling on the KCD deposit.
Chief executive Mark Bristow said the mineral resource update had
underlined the high quality of the Kibali orebody and was a step forward in
Randgold's review of the project following the completion of the Moto
Goldmines acquisition in October.
"We're now working on a review of the geological model and expect to
continue to update resources and re-estimate reserves as we obtain new
results from our ongoing drill programmes and progress our understanding of
the geological controls on mineralisation. This will, along with results
from additional technical and process reviews contribute to the ongoing
optimisation of the feasibility study completed by Moto," he said.
Click on, or paste the following link into your web browser, to view the
associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/3010D_1-2009-11-30.pdf
Randgold Resources Limited
Incorporated in Jersey, Channel Islands
Registration No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
("Randgold")
Contact Information: ENQUIRIES
Chief Executive
Dr Mark Bristow
+44 788 071 1386
+44 779 775 2288
Financial Director
Graham Shuttleworth
+44 1534 735 333
+44 779 614 4438
Investor & Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: