Ongoing infill drilling has uncovered high-grade gold hits at Kobada. Pic via Getty Images
Mining
Special Report: A resource definition drill program at Toubani’s flagship Kobada gold project in Mali is popping up numerous high-grade oxide hits from the initial 30 drill holes, including a huge 71m thick intersection @ 1.86g/t gold.
Fresh from providing an update on its definitive feasibility study (DFS) for Kobada where Toubani Resources (ASX:TRE) is defining a high production, low cost development asset, underpinned by a single 4.5km-long, shallow open pit deposit. Kobada has been confirmed to be a free milling project with high recovery rates of ~95% in the oxide material.
After the mineral resource estimate (MRE) for Kobada was updated to 2.4Moz gold by Entech in August last year, pit optimisations and preliminary mine designs were completed and reviews have identified key high-value areas within or adjacent to the inferred mineralisation.
This spurred TRE to get out the drill bit for an up to 10,000m RC drill campaign to increase the density in key areas of near-surface targets.
Out of the 2.4Moz endowment, 1.48Moz comprises free-digging, easy-to-mine gold mineralisation which falls within 100m of the surface.
To date, 55 holes have been completed for 5,605m and results have been received from an initial 30 in the northern and central portions of the Kobada deposit, with highlights that include a spectacular 71m @ an average 1.86g/t gold.
Other results include:
TRE says the results to date appear to be broad and consistent with historical intersections.
Increased drilling density will likely increase confidence in future resource estimations in the area.
Drilling is anticipated to be completed shortly and results are anticipated to be received through April 2024 to inform a resource update in Q2 this year.
“It’s a fantastic start to our targeted resource definition drill program with high-grade, shallow oxide mineralisation intercepted across the deposit, with one of the best intersections seen to date at Kobada of 71m at 1.86g/t,” TRE managing director Phil Russo says.
“It’s a timely reminder of the potential of the Kobada deposit as well as the regional prospectivity in which we hold a dominant land position.
“The objective of the program is to unlock dormant value in the project through the next phase of our engineering studies, and the results seen so far will support us meeting this objective as we look to de-risk Kobada and advance an increased scale, technically simple oxide gold project.”
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.
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