Regis Resources approves two underground mines

Regis Resources is growing its portfolio with the addition of two new gold mines.
Regis Resources is growing its portfolio with the addition of two new gold mines.

Regis Resources (ASX: RRL) has approved two underground mines — Garden Well Main and Rosemont Stage 3 — to support its underground growth strategy.

With the inclusion of Garden Well Main and Rosemont Stage 3, Regis will operate at least three independent underground mining areas within the Duketon gold project in WA.

Located around 750m north of the current Garden Well South underground mine, Garden Well Main will open a new mining domain directly below the base of the current Garden Well open pit.

The mining inventory at Garden Well Main comprises of 36% indicated mineral resources, 24% inferred mineral resources and 41% unclassified material.

Recent exploration and knowledge of the local geology indicate mineralised extensions down plunge of the current mineral resource which will be drill tested once underground mining has been established.

Regis has been mining at Rosemount since 2019 and Rosemont Stage 3 lies 100m south of existing underground operations and extends to a total depth of 700m below ground level.

Rosemont Stage 3 has an exploration target of 600kt to 800kt at 2g/t to 3g/t for 40koz to 80koz contained gold and it is currently scheduled to be mined over four years using conventional long hole open stoping mining methods with no backfill.

Regis managing director and chief executive Jim Beyer commented on the approval.

“The development decision for these vale accretive underground mines is another important milestone as Regis progresses on delivering into its underground growth strategy,” he said.

“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.

“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 o expand our underground mining footprint.”

From FY27, these two mines are expected to deliver a steady state annualised gold production target of between 100koz to 120koz.