Tolu Minerals Boosts Tolukuma Gold Mine MRE by 81% Ahead of Planned Restart - smallcaps.com.au

AI desk brief

Tolu Minerals said Tolukuma’s mineral resource estimate has risen 81% to 909koz gold and 3.9Moz silver at a 3g/t cut-off, supported by a rebuilt geological model and four months of full-run-rate drilling. The update also adds a maiden Indicated resource of 199koz Au and lifts total reported gold inventory to 1.04Moz when including Saki.

The project’s vein system extends at least 8km, but only 1.2km has been mined, leaving further upside as Tolu prepares a 75,000m near-mine drilling campaign and targets a restart early next year using existing permitted infrastructure. Near-term impact is mainly company-specific, but the larger resource base improves the odds of fresh PNG high-grade gold supply returning in 2027.