Is This Deposit Regis’ Next Gold Mine?

Wedoany.com Report-Nov 22, Regis Resources has set an underground exploration target for its Ben Hur deposit, highlighting the potential to bring a fourth underground mine online at the Duketon operation.

Ben Hur has been estimated to contain between four to six million tonnes (Mt) at a grade ranging between 2.2 grams per tonne (g/t) of gold and 2.8g/t of gold.

The underground exploration target includes potential down plunge extensions of the current Ben Hur open pit mineralisation, based on deposit drill hole data, geology, geophysical data sets and Ben Hur’s current mineral resources.

As of December 31 2023, Ben Hur’s underground mineral resources were estimated at 1Mt, and the open pit mineral resources were estimated at 5Mt.

“The establishment of an underground exploration target at Ben Hur is the culmination of a body of work undertaken by the team and further boosts our confidence in our ability to deliver a fourth underground mine at Duketon,” Regis managing director and chief executive officer Jim Beyer said.

“While there is still a significant amount of work to be completed (with no guarantees or certainty of an outcome) before we can delineate underground ore reserves at Ben Hur, our team has a proven track record of identifying underground exploration targets and converting those targets into underground operations.”

To mitigate risks and further evaluate the Ben Hur underground exploration target, Regis has commenced a first pass drill program.

It has already identified high-grade mineralisation with visible gold consistently seen on a sheared contact of the quartz-dolerite.

The first pass drill program is expected to be completed by April 2025, with further stages to be planned based on the stage one results.

“Should the upcoming drilling activities prove successful and subsequent study work confirm that Ben Hur underground mineralisation is economic and mineable, Regis would be on the cusp of delivering on its Duketon underground growth strategy of operating at least four underground mines,” Beyer said.

“While these underground mines form a vital part of our value growth, through our life extension strategy, we also continue exploring for additional high value, large scale open pits across our dominant holding across the Duketon Greenstone Belt.”

The Duketon gold operation is located in the eastern Goldfields region of Western Australia. During the September 2024 quarter, it produced 57,500oz at an all-in sustaining cost of $2650/oz.