Resource definition reveals further near-surface high-grade gold at Toubani Resources’ Kobada project
17 RC holes completed in the northern area of the deposit and 24 in the south will go towards upcoming resource update
Definitive feasibility study also in progress
Special Report: Resource definition drilling of Toubani Resources’ advanced 2.4Moz Kobada project has hit more near-surface gold to be converted into a planned updated resource estimate.
Toubani Resources (ASX:TRE) believes Kobada could be Africa’s next significant gold development with its near-surface and oxide-dominant mineralisation – key factors that aid in lowering production costs.
The explorer is on the cusp of a new mineral resource estimate (MRE) for Kobada after wrapping up resource definition drilling at the northern and southern areas of the deposit to further de-risk the project.
In tandem, TRE is progressing a definitive feasibility study (DFS), a pivotal milestone towards kicking off development.
More high-grade gold hits
TRE has now completed a focused resource definition drilling program to test key areas of near-surface, open pittable oxide mineralisation which fall within or immediately adjacent to preliminary pit designs.
Previous results successfully demonstrated the existence of shallow high-grade mineralisation in these outstanding results of 71m at 1.86g/t gold and 19m at 20.6g/t gold from 69m.
The new batch of results, from 17 RC drill holes in the northern area of the Kobada deposit, have shown further significant mineralisation which include a hit of 13m at 6.23g/t gold from 88m.
Assays have also been delivered from a 24-hole RC drill program at the southern area of the deposit with a highlight 26m at 1.09g/t gold from 18m at hole KBRC24_099.
Location of 2024 resource definition drilling at the Kobada gold deposit. Pic supplied: (TRE)
“The resource definition drill program is a key milestone to have successfully completed and results will inform an update of our MRE for Kobada with the objective of converting oxide Inferred resources to Indicated classification,” TRE CEO Phil Russo says.
“We look forward to delivering this next milestone in our strategy as we move to demonstrate Kobada at an increased production scale and a competitive capital and operating cost structure.”
Up next
With all assays in the company will now kick on with updating the MRE for Kobada.
All data from the 2024 resource definition program has been loaded in the database and consultants Entech have again been engaged to update the August 2023 MRE with the focus of upgrading resources from the inferred to indicated classification.
The MRE update will feed into updated pit optimisation studies and mine design / schedules which will inform the DFS update that’s in progress and due for delivery later this year.
This article was developed in collaboration with Toubani Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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