- Toubani Resources (TRE) extends the overall mineralisation at its Kobada gold project in Southern Mali by one kilometre
- The company has received the first set of results from an ongoing program that extended the mineralisation to the north and south of the Kobada Main deposit
- Assays from the Kobada North program included nine metres at 1.32 grams per tonne (g/t) from 112 metres, while three fences of drilling were completed at Kobada South
- Follow-up drilling will now be planned to systematically test the tenor of mineralisation along the structure
- Toubani Resources shares closed 3.13 per cent higher at 16.5 cents on Friday afternoon
Toubani Resources (TRE) has extended the overall mineralisation at its Kobada gold project in Southern Mali by one kilometre.
The company has received the first set of results from an ongoing drilling program that extended the mineralisation to the north and south of the Kobada Main deposit.
Assays from the Kobada North program included nine metres at 1.32 grams per tonne (g/t) from 112 metres, including four metres at 2.64 g/t gold. Further results include one metre at 7.86 g/t from 59 metres.
“For the first drill holes of the program to extend mineralisation by one kilometre, including 650 metres at Kobada North alone, is an exceptional result,” Toubani CEO Phil Russo said.
“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.”
With drilling successfully confirming the continuity of the mineralised system to the north, follow-up drilling will now be planned to systematically test the tenor of mineralisation along the structure.
Meanwhile, at Kobada South, three fences of drilling were completed. The most southerly of these stepped out 250 metres south from the last fence of drilling within the Kobada Main resource.
Results from Kobada South included three metres at 1.81 g/t from 50 metres and three metres at 1.2 g/t from 61 metres.
Drilling was also carried out to infill a 500-metre gap in drilling at the southern end of the mineral resource. The results from this will be used to inform a resource update, which has been pencilled in for later in 2023.
“We believe we have a very large system across an extensive and, remarkably, still under-explored belt,” Mr Russo said.
“We now look forward to drilling at Gosso, which is currently underway and has returned excellent initial results in historical drilling.”
Toubani Resources shares closed 3.13 per cent higher at 16.5 cents on Friday afternoon.