TOUBANI HIGHLIGHTS EXCEPTIONAL DRILL RESULTS AT KOBADA GOLD

Significant Oxide Gold Intercepts Point to Expansive Potential

Toubani Resources Ltd (ASX:TRE) has released promising initial results from its resource definition drill program at the Kobada Gold Project in southern Mali, showcasing substantial oxide gold intersections and emphasizing the project’s significant open-pittable mineral resources.

Drilling Program Insights:

  • The Kobada Gold Project, with a mineral resource of 2.4 Moz spread over a 4.5km strike, has demonstrated impressive results from the first 30 drill holes, including several high-grade near-surface oxide gold intercepts.
  • Highlighted results include 71m at 1.86g/t gold from 79m, inclusive of 15m at 4.04g/t gold, and several other notable intercepts such as 7m at 7.67g/t gold from 35m, showcasing the depth and quality of oxide mineralization at Kobada.

Strategic Developments:

  • These initial drill results are pivotal for informing an updated Mineral Resource Estimate slated for the second quarter of 2024, aiming to enhance ore reserve studies as part of the Definitive Feasibility Study (DFS) Update.
  • Ongoing drilling activities promise further insights shortly, with Toubani Resources committed to extending its exploration efforts.

Management’s Outlook:

Phil Russo, CEO of Toubani Resources, expressed enthusiasm about the drilling outcomes:

A fantastic start to our targeted resource definition drill program with high-grade, shallow oxide mineralisation intercepted across the deposit with one of the best intersections seen to date at Kobada of 71m at 1.86g/t – a timely reminder of the potential of the Kobada deposit as well as the regional prospectivity in which we hold a dominant land position.

The objective of the program is to unlock dormant value in the project through the next phase of our engineering studies, and the results seen so far will support us meeting this objective as we look to derisk Kobada and advance an increased scale, technically simple oxide gold project

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