Toubani Resources Ltd (ASX:TRE) is gearing up for a mineral resource estimate (MRE) update at the Kobada Gold Project in southern Mali after a successful resource definition drilling program uncovered gold up to 1 metre at 100 g/t from 17 metres.
The resource definition program focused on shallow, high-grade mineralisation, with an eye to near-surface, open-pittable oxide mineralisation within or immediately adjacent to the company’s preliminary open pit designs.
These latest results come from 17 drill holes completed in the northern area of the Kobada Deposit.
Key milestone complete
“The resource definition drill program is a key milestone to have successfully completed,” Toubani Resources CEO Phil Russo said.
“These results will inform an update of our mineral resource estimate for Kobada with the objective of converting oxide inferred resources to indicated classification.
“We look forward to delivering this next milestone in our strategy as we move to demonstrate the Kobada Gold Project at an increased production scale and a competitive capital and operating cost structure."
Toubani has engaged Entech Pty Ltd to update its August 2023 MRE, focusing on converting resources to the higher confidence indicated category.
Drilling results of note
Toubani highlighted several drilling results from this latest program with particularly strong assays:
- 1 metre at 100 g/t gold from 17 metres;
- 7 metres at 3.06 g/t from 37 metres;
- 13 metres at 6.23 g/t from 88 metres, including 2 metres at 25.9 g/t;
- 5 metres at 7.19 g/t from 53 metres, including 1 metre at 23.5 g/t from 53 metres;
- 6 metres at 7.46 g/t from 114 metres, including 1 metre at 30.2 g/t from 119 metres;
- 23 metres at 1.50 g/t from 167 metres, including 3 metres at 3.59 g/t from 167 metres and 3 metres at 2.82 g/t from 186 metres;
- 26 metres at 1.09 g/t from 18 metres; and
- 10 metres at 1.41 g/t from 8 metres.
The updated MRE will feed into updated pit optimisation studies and mine design and schedules to inform Toubani’s definitive feasibility study (DFS) update, which is in progress and expected to be delivered later this year.