Toubani Resources Ltd (ASX:TRE) has hit high-grade oxide gold intersections during infill drilling at the 2.4-million-ounce Kobada Gold Project in Mali, producing a screen fire assay of up to 2 metres at 178 g/t gold as part of a 19-metre intersection grading 20 g/t from 105 metres.
The new data will aid TRE in converting the Kobada gold deposit to higher JORC-compliant confidence levels, with potential to define higher grade zones.
Results support upcoming DFS
“Our drilling program has been designed for a specific purpose, to derisk, convert and unlock the compelling value in the Kobada deposit, and it is pleasing to see numerous intersections during this program of significant widths and grade confirming this goal,” Toubani Resources CEO Phil Russo said.
“Given the headline results we have received, we will investigate the potential to define higher grade zones during our resource update work to complement the bulk mining approach of the broader deposit.
“If successful, this will further highlight the range of optionality and potential we see at Kobada over and above the optimised project we are excited to define in our upcoming definitive feasibility study (DFS)."
After the first 43 holes of the resource definition program were completed earlier this month, TRE has received results for a further 11 drill holes, with highlights including:
- 19 metres at 20.6 g/t gold from 105 metres (uncut), including 2 metres at 178 g/t (screen fire assay);
- 48 metres at 2.84 g/t from 85 metres, including 2 metres at 12.0 g/t and 3 metres at 7.38 g/t;
- 20 metres at 2.05 g/t from 96 metres, including 1 metre at 17.9 g/t;
- 3 metres at 9.12 g/t from 14 metres, including 1 metre at 26.1 g/t; and
- 6 metres at 5.66 g/t from 50 metres, including 1 metre at 14.4 g/t and 1 metre at 16.4 g/t.
The company says drilling will conclude shortly, with results to inform an updated mineral resource estimate in the second quarter of this year, which will underpin an ore reserve for a DFS update.