What's Happening?
Toubani Resources has announced significant findings from its latest drilling campaign at the Kobada South target in Mali. The company reported multiple high-grade gold intersections, with mineralization now defined over a 1.6km strike length. Notable results include 19 meters at 1.02 grams per tonne gold from 8 meters and 1 meter at 39.7 grams per tonne gold from 85 meters. The drilling program systematically tested the Kobada South area, which is located parallel to the main Kobada Shear and within 1km of the planned processing plant site. These findings are expected to increase the oxide mineral resource in the area and potentially upgrade specific zones to a higher confidence Indicated category. The results demonstrate the upside potential of the Kobada project,
even at its advanced stage, according to Managing Director Phil Russo.
Why It's Important?
The discovery of high-grade gold intersections at Kobada South is significant for Toubani Resources as it could enhance the economic viability of the Kobada Gold Project. The potential increase in the mineral resource estimate and the upgrade of certain zones to the Indicated category could attract further investment and expedite the project's development. This development is crucial for the company as it seeks to advance its operations in Southern Mali. The findings could also have broader implications for the mining industry in the region, potentially boosting local economies and creating job opportunities. Additionally, the results may influence the company's strategic decisions regarding resource allocation and project timelines.
What's Next?
Toubani Resources plans to incorporate the latest drilling results into an updated Mineral Resource Estimate (MRE), which is scheduled to commence in the coming months. The company continues its drilling efforts at Kobada, with the rig now testing targets in the northern portion of the deposit. Further results are anticipated in the coming weeks, which could provide additional insights into the project's potential. The ongoing exploration and subsequent MRE update will be critical in determining the next steps for the Kobada Gold Project, including potential fast-tracking of oxide material into the mine plan.
