- Toubani Resources, Inc. (TRE) has commenced a 10,750-meter drill program at its flagship Kobada Gold Project in southern Mali
- The 10,750 meters drill program is the first drilling campaign following the dual listing on the Australian Securities Exchange
- West-Africa-focused company Etasi & Co. has been awarded the drilling contract
- Toubani Resources is an exploration and development company with a focus on building Africa’s next mid-tier gold producer
- Toubani Resources Inc. (TRE) opened trading at C$0.16
Toubani Resources, Inc. (TRE) has commenced a 10,750-meter drill program at its flagship Kobada Gold Project in southern Mali.
The program is designed to focus on targeting highly prospective strike extensions from the existing resource base.
The 10,750 meters drill program, the first drilling campaign following the dual listing on the Australian Securities Exchange, will focus on the previously identified target areas, based on soil geochemical sampling, artisanal mining, geophysics trends and historical drillholes, in the larger Kobada mining permit area.
The aim of the drilling campaign is the following:
- Testing the mineralized zone of the main shear zone to the south and north
- Testing the continuity of a second mineralized zone to the east of the main Kobada orebody
- Drilling around historical artisanal mining where there are extensive workings
- Testing new potential gold mineralized zones
- Follow up on auger drilling anomalies showing strong gold mineralization
Figure 1 shows the drilling programme, testing four target areas along the Kobada Shear (Target 1, 2, 3 and 4), one target on the Gosso Shear (Target 5) and Kobada Est concessions (Target 6).
A drill program has been designed to target all known anomalies on the Kobada Gold Project. The program will be revised according to the results from the current drill program.
As previously announced, the contract for the drilling campaign has been awarded to a West Africa-focused drilling company that is permanently based in Mali. ETASI, with its specialized personnel, has been recognized as one of the leading providers of specialist drilling services in the region.
Toubani Resource’s President and CEO, Mr. Danny Callow, commented on the upcoming campaign.
“We are pleased to see the drills turning back at Kobada following a very well-supported ASX listing. We believe that near-term value is in the drill bit, with more than 50km of identified shear zones yet to be tested. The drill campaign will focus on the highly prospective areas around the existing resource shell, specifically looking at extending the mineralized strike length to determine the upside to the resource. We will be focusing our campaign on stepping out from known mineralization, as well as following up on areas that have shown potential through our regional exploration results. These are exciting times for Toubani, and we look forwards to testing the upside potential through this exploration programme. We have spent the past three years focusing on defining and upgrading the quality of the resource. We are pleased to have a total resource of 3.1 million ounces already defined, of which 1.7 million ounces are in the Measured and Indicated category. Our previous success with the drill bit (growing resources by more than 40% since late 2019) gives us confidence that there are a lot more ounces to define this property. We look forwards to updating the market with ongoing results of this campaign in due course.”
Toubani Resources is an exploration and development company with a focus on building Africa’s next mid-tier gold producer. Toubani Resources’ principal asset is the Kobada Project in southern Mali.
Toubani Resources Inc. (TRE) opened trading at C$0.16.