Overview

Exploration continues to be a core function within the Randgold group and work over the past year has built on the 2015 programme, with further additions to the resource triangle comprising greenfields and brownfields targets in equal measure.

Generative programmes have delivered exciting results for exploration teams to follow-up across the areas in which Randgold works, while the brownfields teams have continued to add resources and deliver reserves to the operations.
 

Achieved in 2016

  • Expanded permit portfolio across selected areas of interest
  • Delivered reserve ounces at Sofia to progress Massawa feasibility study
  • Completed regional and detailed generative studies across West African Craton
  • Completed re-logging and remodelling of KCD, Yalea and Tongon deposits
  • Completed the regional sampling for NE DRC generative programmes
  • Progressed Moku to Phase 1 conclusion and completed VTEM survey over full Ngayu belt
  • Confirmed continuous mineralisation at Bakolobi and generated targets along the Senegal-Mali Shear
  • Added significant reserve ounces at Gara and identified new targets at Yalea
  • Drill tested several Boundiali targets, confirmed mineralisation and generated new targets
  • Started work on new permits in Côte d’Ivoire portfolio
  • Drilling at Gbongogo highlighted significant potential on Mankono permit
  • Progressed work on the Tongon satellite deposits
  • Expanded Kombokolo and Rhino deposits to the Kibali reserves
     

Targeted in 2017

  • Deliver one of the three new projects targeted for discovery over the next five years
  • Grow Sofia resource, identify further mineralisation along the structure and evaluate all near mine targets
  • Complete geological evaluation of Massawa project as part of feasibility study
  • Restart work at Bambadji and progress targets to follow-up category
  • Deliver further high grade mineralisation from brownfields work at Loulo-Gounkoto
  • Develop and progress targets along Senegal-Mali Shear
  • Add new grassroots project in West Africa
  • Extend LoM at Tongon through conversion of satellite deposits to reserve
  • Fully evaluate Fonondara and Syama structures at Boundiali
  • Deliver conclusion on Gbongogo target in Mankono
  • Evaluate Côte d’Ivoire portfolio and start work on Randgold/Newcrest JV
  • Conclude NE DRC regional generative studies and extend groundholding
  • Progress targets at Moku and Ngayu in DRC
  • Increase resources at Kibali

Exploration review 2017 introduction

The team has set itself the target of three new world class projects in the next five years and the first of these is expected to be the Massawa-Sofia project in Senegal where perseverance, combined with a new geological and metallurgical understanding, has materially altered the economics of the project. The team also continues to focus on Randgold’s strategic areas where it believes there is the potential for world class deposits - Eastern Senegal and Western Mali, Southern Mali and Côte d’Ivoire, and North Eastern DRC.

The aim is to continue growing Randgold’s portfolio over the most prospective structures in these districts while at the same time replacing mining depletion at the operations. Randgold’s exploration portfolio consists of 134 active targets within an exploration permit portfolio of 14 072km² with a further 7 188km² under application.