Toubani Resources Ltd (ASX:TRE) is poised to kick off a targeted resource definition drill program early next month at the Kobada Gold Project in southern Mali.
The drill program will focus on high-value, near-surface, open pittable oxide mineralisation currently classified as inferred with the goal of increasing data spacing to convert resources to indicated classification.
Starting with a 10,000-metre reverse circulation (RC) program, drilling will inform an updated mineral resource estimate (MRE) in 2024 to underpin ore reserve studies as part of the DFS update.
Moving forward, drilling will begin in early February with the program to be completed by the end of this quarter.
Unlock significant value
Toubani CEO Phil Russo said: “We're looking forward to initiating our 2024 drilling program at Kobada.
“The planning of this program is the culmination of detailed engineering and optimisation studies as part of our DFS update work stream.
“These studies have guided our drilling plan towards the highest value areas in the deposit where conversion from inferred to indicated could unlock significant value in the project.
“The program will underpin our DFS update with the objective of delivering the resources to support our vision for the project, while serving to potentially reduce our already low stripping ratio, favourably impacting Kobada's technical and economic profile.”
Forward plan
Toubani has planned up to 10,000 metres of shallow RC drilling to test key areas of near-surface oxide mineralisation.
Drilling will focus on the northern portion of the deposit and has been planned to achieve a nominal data spacing of less than 50 metres in any direction taking into consideration the location of historical drilling.
Target (NYSE:TGT) Drilling has been engaged to complete the program.