More high-grade gold hits affirm Toubani’s 2.4Moz scale potential

High-grade gold hits of up to 55.9g/t near surface intersected
10,000m resource definition drilling program ongoing
Results to inform an update of the 2.4Moz resource estimate

Special Report: A resource definition drill program to upgrade resource confidence has turned up high-grade gold oxides at Toubani Resources’ 2.4Moz Kobada gold project in Mali, with hits of up to 55.9g/t near surface.

On its way to increasing confidence in future resource estimations, fresh results from Toubani Resources (ASX:TRE) drilling have further confirmed that most of the resource is a predominantly free-dig, oxide gold development with low all-in sustaining costs (AISC) once in production.

A recent definitive feasibility study (DFS) update confirmed Kobada’s credentials, with high recovery rates underpinned by a 4.5km-long, shallow open pit deposit.

Contained within the current 2.4Moz resource is a 1.48Moz area of gold mineralisation within 100m of the surface, which the explorer is currently looking to improve.

More high-grade gold from definition drilling

TRE’s ongoing 10,000m resource definition program at Kobada recently showed a huge 71m-thick intersection at 1.86g/t gold.

The latest batch of results, the explorer says, further affirms the deposit’s large-scale, high-grade oxide mineralisation and will inform an update to the mineral resource this quarter.

Assays returned more high-grade gold intersections, which of note include:

27m at 1.23g/t gold from 71m and 21m at 2.97g/t gold from 105m at hole KBRC24_035, including 10m at 4.37g/t gold; and,
7m at 11.0g/t gold from 17m at hole KBRC24_032, including 1m at a whopping 55.9g/t gold.

To-date, 91 drill holes have been completed across 9309m of drilling with the program expected to wrap shortly.

Recent drill results from resource definition at the Kobada gold project. Pic: TRE

TRE CEO Phil Russo says Kobada’s potential is clearly evident in drilling to date.

“Numerous results have now been received of significant width and tenor and these will be included in our mineral resource update this quarter,” Russo says.

“Our confidence is growing in demonstrating Kobada as one of the few remaining, if not the sole, advanced stage, large scale, oxide gold project in the hands of a single-asset developer with the delivery of an updated feasibility study later this year.”

This article was developed in collaboration with Toubani Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.