Toubani Resources Inc. (TSX-V:TRE, ASX:TRE) has released the first set of results from the ongoing drilling program at its Kobada Gold Project in southern Mali which reveal that it has already extended mineralisation by 1 kilometer (km).
The company explained that the drilling was designed to test potential extensions to mineralisation at the Kobada Main Deposit. Extensive artisanal workings can be found along strike and trend from Kobada Main, yet almost no drilling has been undertaken, it said.
“For the first drill holes of the program to extend mineralisation by 1 km, including 650 meters at Kabob North alone, is an exceptional result,” Toubani CEO Phil Russo said in a statement. “These results demonstrate both the scale and the potential of the Kobada district and to be able to expand the footprint of mineralisation so quickly, while still open along strike, is a significant step forward in unlocking this project.”
READ: Toubani Resources updates on its activities for year ending December 31, 2022
Highlights include:
- Drilling has extended mineralisation by almost 1km to the north and south of the Kobada Main Deposit;
- Kobada Main Deposit currently hosts a Mineral Resource of 3.1 million ounces of gold over a strike length of 4.5 km;
- Mineralisation remains open north and south of the Kobada Main Deposit;
- Excellent first results from the Kobada North 1 target area with 9 metres (m) at 1.32 grams per ton (g/t) and 14m at 1.02 g/t;
- Further assay results at Kobada North 2 testing along an additional 1.7 km of strike are pending; and
- Drilling continues on site with the focus now moving to step-out holes at the Gosso target, where previous drilling has already intersected mineralisation.
Key intersections included:
- 9m at 1.32 g/t from 112m including 4m at 2.64 g/t (KN1/22_P009);
- 14m at 1.02 g/t from 81m including 1m at 2.28 g/t and 1m at 3.75g/t (KN1/22_P008); and
- 1m at 7.86 g/t from 59m (KN1/22_P007).
At Kobada South, three fences of drilling were completed. The most southerly of these stepped out 250m south from the last fence of drilling within the Kobada Main resource and successfully intersected mineralisation, including:
- 3m at 1.81 g/t from 50m and 3m at 1.20 g/t from 61m (KS22_P003).
- Drilling was also carried out to infill a 500m gap in drilling at the southern end of the Mineral Resource with results to inform a resource update planned for later in 2023.
- 1m at 8.35 g/t from 68m (KS22_P012) and 3m at 1.8 g/t from 82m (KS22_P014).
Forward work program
Following the drilling at Kobada North 1, Toubani said the drilling rig has completed two further fences of drilling at Kobada North 2, which steps out a further 1.7 km along strike to the north to test for the presence of the mineralised system. The fences are sited based on the interpretation of geophysical data and artisanal workings. Results are awaited with laboratory turnaround times significantly improved in recent weeks, the company noted.
The rig is currently drilling at the Gosso target, which is located on a parallel structure to the Kobada Main Deposit.
Previous drilling at Gosso returned results included:
- 36m at 1.64 g/t from 72m (KBRC11-140);
- 3.1m at 4.25 g/t from 34.6m (G20_PH3A_20);
- 3m at 2.59 g/t from 30m (KBRC11-144); and
- 5m at 1.90 g/t from 133m (KBRC11-142).
Toubani Resources is focused on building Africa’s next mid-tier gold producer. The company has a highly experienced board and management team with a proven African track record in advancing projects through exploration, development and into production.
Contact the author at stephen.gunnion@proactiveinvestors.com