- Toubani Resources (TRE) reports an update to the MRE for its Kobada gold project in southern Mali
- The MRE now stands at 87Mt at 0.86 grams g/t gold for 2.4 million ounces
- The 2.4Moz MRE includes 1.5Moz of shallow ‘free dig’ oxide resources which will drive a DFS update
- The company is aiming to appoint an engineering lead for its DFS update this quarter
- TRE shares last traded at 15 cents
Toubani Resources (TRE) has unveiled the results of an independent, external review and update of the mineral resource estimate (MRE) at its Kobada gold project in southern Mali.
The MRE now stands at 87 million tonnes (Mt) at 0.86 grams per tonne (g/t) gold for 2.4 million ounces.
More than 1.5 million ounces (Moz) have been categorised into an indicated category, and the MRE overall will underpin a definitive feasibility study (DFS) update, focused on optimising the oxide phase of the project.
The 2.4Moz MRE includes 1.5Moz of shallow ‘free dig’ oxide resources which will drive a DFS update.
“The company’s vision is to reposition Kobada as a reduced technical risk, low strip, bulk-tonnage, oxide-dominant open pit development project of scale,” TRE CEO Phil Russo said.
“We now have a strong baseline of validated indicated oxide and fresh material to underpin the DFS update targeting a higher throughput and lower cost development project,” Mr Russo added.
The company is aiming to appoint an engineering lead for its DFS update this quarter.
All deposits currently remain open at depth and travel along strike, and Toubani remains confident that significant exploration upside remains outside of its known targets.
There are approximately 40 kilometres of more than 50 kilometres of regional-scale shear zones that are yet to be drill tested, with programs set to commence this quarter.
TRE shares last traded at 15 cents.