Resolute finds 266,000oz at Bantaco satellite deposit near Mako

Resolute Mining has published an initial resource estimate for its Bantaco project near the Mako open-pit gold mine in Senegal, a discovery the company says is central to extending mining in the country beyond Mako's current pit life.

The estimate, released on Thursday, covers the Bantaco South and West prospects and is based on shallow drilling completed to date. Together they host an inferred gold resource of 266,000 ounces, with Resolute saying the figure has room to grow once drilling begins at the neighbouring Bantaco Main zone later this year.

A mine reaching the end of its open pit

The update lands at a pivotal moment for Mako, where open-pit mining is due to wind down soon and the operation is set to shift to processing lower-grade stockpiles this month. Bantaco is one of two satellite deposits — the other being Tomboronkoto — that Resolute is evaluating to keep ore flowing to the Mako processing plant. Both sit within trucking distance of the mill, meaning they could be brought into production without a new standalone plant.

Combined, Tomboronkoto and Bantaco now host more than 600,000 ounces of resource, which Resolute believes could underpin another five to ten years of mining in Senegal, subject to further drilling and studies. Resolute chief executive Chris Eger said Bantaco was “key to the extension of Mako,” pointing to development conditions that could allow it to be brought into production ahead of Tomboronkoto.

What it means for Resolute

Mako is Resolute's most stable asset, in contrast to its larger but more disrupted Syama mine in Mali. Extending Mako's life through nearby satellite pits is a lower-risk way to sustain production and cash flow from Senegal than developing an entirely new mine, and would let Resolute keep using the existing plant, workforce and infrastructure around Kédougou in the country's south-east.

The timing also matters: Eger took over as full-time chief executive earlier in 2025 after the resignation of Terry Holohan, who had been detained in Mali in late 2024 amid the tax dispute between Resolute and the Malian government. Progress at Mako gives Resolute a growth story in Senegal to point to while the situation in Mali remains more difficult.

What's next

Resolute said further drilling at Bantaco Main is expected to start later in 2025, with the results likely to feed into an updated resource estimate and, eventually, a mining study for the project. Investors will be watching for confirmation of which satellite deposit — Bantaco or Tomboronkoto — is fast-tracked first, and how quickly Mako's stockpile-processing phase gives way to renewed mining.

Sources

• Mining.com: Resolute publishes initial resource for satellite deposit near Senegal mine, 24 Jul 2025

Photo: Artisanal gold miners in eastern Senegal, the gold-mining region where Resolute's Mako mine and its Bantaco prospect are located. Uzabiaga, Wikimedia Commons, CC BY-SA 4.0.