SOURCE: Randgold Resources Ld

March 30, 2012 07:37 ET

Robust Reserve Profile; Increased Overall Grade

JERSEY, CHANNEL ISLANDS--(Marketwire - Mar 30, 2012) -

Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD


London, 30 March 2012 - Randgold Resources Limited today reported
attributable reserves of 16.28 million ounces compared to 16.38 million
ounces a year ago, despite a 58% increase in production. The overall
reserve grade was increased from 3.78g/t to 3.84g/t, in line with the
company's focus on quality over quantity.

Randgold's annual mineral resource and reserve declaration, published
as part of its 2011 annual report, shows that at the attributable
level, measured and indicated mineral resources remained steady at
21.77 million ounces over the year, while inferred mineral resources
decreased from 7.00 to 6.48 million ounces as inferred material was
converted to the indicated category to replace mining depletion.

The past year was one in which the company's exploration efforts
focused on infill and verification drilling to bring the Gounkoto and
Tongon mines into production and advance the detailed feasibility and
development studies at Kibali.

Recent down-plunge drilling on the KCD deposit at Kibali confirmed
continuation of the 3000 lode. The 450 metre down-plunge extension of
the current resource model has yet to be included in the mineral
resource estimate. Also drilling beneath the Tongon pits has resulted
in a 59% increase of inferred resources, from 0.93 million to 1.48
million ounces at a grade of 2.67g/t. These additional resources have
the potential to add in-pit ounces at a relatively low strip ratio in
the Southern Zone pit and will be the focus of further drilling for
conversion to reserves during the year. The Gounkoto reserve has only
been optimised on an open pit basis but encouraging grades below the
pit indicate significant underground potential. An updated underground
scoping and interface study is planned for completion this year.
Exploration at Kibali this year will focus on the evaluation of the
remaining resource inventory acquired with the Moto transaction as well
as the high grade extensions down-plunge of the KCD deposit and the
adjacent underground deposits of Gorumbwa and Agbarabo."The increase in our
overall reserve grade is very significant given
the marked decreases in grades we have seen from many gold mining
companies' reserve/resource statements filed recently, as the industry
seemingly moves away from quality to quantity. We haven't been tempted
to use the increased price of gold to boost our ounces, but continue to
calculate our reserves at a relatively conservative US$1 000/oz gold
price while taking cognisance of higher input costs. Our mineral
resources have been estimated at US$1500/oz," said group general
manager for projects and evaluation Rod Quick. 

                    This information is provided by RNS
          The company news service from the London Stock Exchange


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