Randgold Resources Ltd. (GOLD) expected to release its first resource estimate on a significant recent discovery in Senegal by the end of the quarter and could conclude a feasibility study by the end of the year, the U.K.-listed company's chief executive said Tuesday.

Mark Bristow, speaking at a mining conference in Cape Town, said a bankable feasibility study for the Massawa discovery could be concluded a year later.

Randgold has over the last decade developed two mines in Mali and is building a third in Ivory Coast and Bristow said a fourth is in the pipeline. The company in its fourth-quarter earnings results released Monday said drilling at Massawa had confirmed a significant discovery that has the potential to be one of the "better new gold projects around."

Company Web site: www.randgoldresources.com

-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848; robb.stewart@dowjones.com