Key points
- Tolukuma Mineral Resource increased by 81% to 909 koz gold
- Maiden Indicated Resource of 199 koz gold
- Tolu's reported gold resources now exceed 1 Moz
- Return to production planned for early 2027
Full summary
Tolu Minerals Limited has reported a significant increase in the Tolukuma Mineral Resource Estimate (MRE) for the Tolukuma Gold Mine in Papua New Guinea. The MRE has increased by 81% to 909,000 ounces (koz) of gold at a 3 g/t Au cut-off, with a maiden Indicated Resource of 199.1 koz. This substantial increase is attributed to four months of full run-rate drilling and a rebuilt geological model. The company's reported gold resources now total over 1 million ounces, combining the updated Tolukuma MRE and the previously reported Saki Inferred Mineral Resource. Tolu Minerals plans to return to gold production in early 2027 using existing infrastructure.
Outlook
Tolu Minerals expects to return to gold production in Q1 2027, leveraging existing infrastructure. The company plans to provide further detail on the mine plan and production schedule in the coming months.