Lycopodium to lead DFS update for Toubani’s 2.4Moz gold flagship

Lycopodium to update the Kobado gold project DFS to increase production
DFS will optimise processing, plant design and capital and operating estimates
Lycopodium has extensive experience with gold projects in West Africa
The DFS update is due in Q1 2024

Toubani Resources has appointed Lycopodium Minerals as lead engineer for the Definitive Feasibility Study (DFS) update for its advanced Kobada gold project in southern Mali.

The Kobada project hosts 2.4 Moz gold in predominantly free-digging oxide, open pittable mineral resources over a 4.5km strike length.

This DFS update will optimise the processing flowsheet and plant design, along with capital and operating estimates with the ultimate goal to boost the project’s gold output.

Track record in Mali gold

Lycopodium has extensive experience delivering studies and projects within West Africa for over 30 years.

The company is currently engaged in the engineering, procurement and project management of the Goulamina lithium project in Mali for the Leo Lithium (ASX:LLL) JV with Ganfeng as well as delivering over 25 studies and projects in Mali including, B2Gold’s Anaconda DFS and recently commencing the FEED services for B2Gold’s Fekola DFS update and 7.5Mtpa expansion, and Endeavour Mining Corporation’s Kalana gold project DFS.

“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,” Toubani Resources (ASX:TRE) CEO Phil Russo said.

De-risking oxide processing phase

Lycopodium’s primary responsibility will be to optimise the processing plant throughput to maximise the NPV of the resultant project.

It will also work with Toubani to ensure Kobada’s operating cost profile is positioned competitively when compared to peer projects.

“The DFS update will utilise the recent mineral resource update as the foundation for the Kobada pit design and mine planning,” Russo said.

“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.”

DFS update by Q1 2024

Lycopodium will jointly manage the study along with Toubani’s owner’s team.

Once the oxide throughput rate is determined, Lycopodium will be responsible for the process plant DFS design as well as related infrastructure that will also optimally provide for an oxide/fresh rock blend later in the mine life.

The company expects the DFS update to be complete in Q1 2024.

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.