oubani Resources, Inc (ASX: TRE) (“Toubani Resources” or the “Company”) is thrilled to announce the appointment of Lycopodium Minerals (Lycopodium) as the lead engineer for the Definitive Feasibility Study Update (DFS Update or Study) of its Kobada Gold Project (“Kobada”, “Project”) located in southern Mali.
Engineering Leadership: Lycopodium has been selected as the engineering lead for the DFS Update. Their primary role will be to optimize the processing flowsheet, plant design, and both capital and operating estimates for the Study.
Enhanced Focus: The initial phase of the Study will concentrate on evaluating the potential for an increased processing rate. This could lead to a boost in annual gold production. The primary focus will be on an oxide-centric phase, with the subsequent inclusion of fresh material later in the mine plan.
Collaborative Management: Lycopodium will collaborate closely with Toubani's Owner's team to manage the Study. Together, they aim to optimize an initial oxide phase and, in the longer term, a blended oxide and fresh phase.
Track Record: Lycopodium stands out as a leader in its domain. With an impressive history in Mali and West Africa, they have successfully completed numerous studies and construction projects in recent times.
Timelines: The DFS Update is set to kick off immediately, with the goal of completing it by the first quarter of 2024.
Toubani Chief Executive Officer, Phil Russo, commented: “We are very pleased to be partnering with Lycopodium on the DFS Update. Lycopodium is a Tier 1 engineering company with an enviable track record in both studies and project execution in Mali and West Africa, and its operational insight and experience will be key as we position Kobada as an oxide-dominant gold project of significance.
The DFS Update will utilise the recent Mineral Resource update as the foundation for the Kobada pit design and mine planning. With some 1.5Moz in shallow, free-digging oxide Mineral Resources, we are able to plan an oxide focussed project phase over an extended life leveraging the technical strengths that make Kobada compelling.
We look forward to advancing the DFS Update at a key point in time for the Company and the sector overall given the dearth of low technical risk projects of scale currently coming through the development pipeline.”
The Kobada Gold Project boasts 2.4 Moz1 in Mineral Resources, spanning a 4.5km strike length. Notably, the project is predominantly characterized by free-digging, oxide, and is open pittable.
Toubani Resources remains committed to advancing its Kobada Gold Project and believes that the collaboration with Lycopodium will significantly enhance the prospects and potential of the project.
Toubani Resources (ASX: TRE) is an exploration and development Company with a focus on advancing Africa’s next gold development project with its oxide-dominant 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.