Regis Resources has delivered its fifth consecutive year of underground ore reserves growth at its Duketon gold operation in Western Australia.
Situated in the eastern Goldfields region, Duketon produced 58,100 ounces (oz) of gold at an all-in sustaining cost of $2753/oz during the March 2025 quarter, making uo about two-thirds of Regis’ total gold production for the period.
Following this success, Regis has increased its Duketon open pit ore reserve to 640,000oz and has grown the Duketon underground ore reserves by 210,000oz after a 130,000oz depletion.
Between 2019 – the year Regis declared an initial underground ore reserve – and December 31 2024, Regis has increased the Duketon total underground ore reserves by approximately 550 per cent.
“We’re proud of the consistent value growth we’ve delivered across our business,” Regis managing director and chief executive officer Jim Beyer said.
“This year’s update reflects the strength of our disciplined and systematic investment in exploration and mine-planning.
“At Duketon, we’ve grown open pit ore reserves and achieved a fifth consecutive year of underground reserve growth, a direct outcome of the team’s deep geological insight and focus on converting resources into reserves.”
The Tropicana joint venture – which Regis holds a 30 per cent stake and AngloGold Ashanti owns the balance and is operator – has also seen a boost in its underground ore reserves, recording a growth of 178,000oz after a 198,000oz depletion.
Since the declaration of its initial Boston Shaker underground ore reserve in 2018, Tropicana’s total underground ore reserves have increased by 202 per cent, excluding depletion.
“At Tropicana, we’ve seen strong reserve growth in the underground areas, further reinforcing the long-term value from that operation,” Beyer said.
As of December 31 2024, Regis’ total ore reserves equal 42 million tonnes at 1.2 grams per tonne of gold for 1.66 million ounces.
To further grow this base, Regis plans to ramp up its third underground mine – Garden Well Main – at Duketon, with drilling beneath its open pit continuing to demonstrate potential for a large mineralised system.
The company will also continue drilling the Ben Hur deposit, which Regis believes has potential to be its fourth underground mine at Duketon, and other deposits at Tropicana.
“Our exploration programs continue to enhance the mineral resource base, and we remain confident in the ongoing potential for further growth and life extension across our portfolio,” Beyer said.
Regis’ 2024–25 financial year guidance remains unchanged at 350,000–380,000oz.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.