oubani Resources, Inc. (ASX: TRE) ("Toubani Resources" or the "Company") is pleased to provide a summary of its Phase 1 exploration program in 2023, proximal to its Kobada gold deposit ("Kobada", "Project") in southern Mali, following the receipt of final assays. The Kobada Project hosts 3.1 Moz in Mineral Resources, which occurs over a 4.5km strike length, and is predominantly oxide and open-pittable.
The highlights of the exploration include a successful extension of the strike of gold mineralization from 5km to 11km, significant exploration upside with approximately 40km of the 50km+ regional-scale shear zones yet to be drill tested, and drill results that support Toubani's overall strategy of an oxide-dominant project of scale at Kobada. The company has made significant discoveries at Kobada West, Kobada North, Kobada South, and Gosso, and confirmed a new discovery at Kobada East.
In addition to these achievements, the review of fresh rock potential below the current oxide resource at the Kobada Main deposit supports potential for significant resource growth with mineralization open down dip and along the entire strike extent below the current average drill depth of 110m. Planned drill programs for 2H 2023 include both resource and regional drilling campaigns to convert Inferred Resources to Indicated and to advance regional discoveries towards maiden resources.
Toubani’s dual-track strategy will continue to unlock Kobada's potential, with drill programs in 2H 2023 forming an integral part of the Company’s DFS Update due later this year.
Toubani's CEO, Phil Russo, commented, “Our Phase 1 drilling campaign provides us the confidence that with systematic exploration, a portfolio of projects providing supplementary resources to the Kobada Main Deposit can be defined. With almost all of the historical drilling to date being focused at Kobada Main, we are only in the early stages of unlocking the significant regional potential of our ground with 11km of drill-tested strike extent now defined over the 50km of interpreted structures. To intersect areas of mineralisation where there was no previous drilling is a fantastic result and demonstrates the exciting potential to grow our oxide resource base over time."
He added, "We also have an enormous opportunity below Kobada, where free milling, fresh rock mineralisation is yet to be targeted beyond 100m vertical depth, with the deposit open at depth across the entire 4.5km strike extent. We believe that significant untapped value lies in optimising and growing Kobada and this is why we announced the commencement of the DFS Update workstream earlier this month. We are excited to be pursuing that potential while also commencing a supporting parallel drilling program shortly. We remain focused on continuing to derisk Kobada as it advances rapidly along the development path and positions itself as a project of significance in the region.”
About us:
Toubani Resources (ASX: TRE) is an exploration and development Company with a focus on becoming Africa’s next gold producer with its advanced Kobada Gold Project. The Company has a highly experienced Board and management team with a proven African track record in advancing projects through exploration, development and into production.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au