Join our daily newsletter At The Bell to receive exclusive market insights
- Toubani Resources (TRE) unlocks a newly identified structure less than one kilometre from its Kobada Main deposit in Southern Mali
- Drilling at Kobada West delineated continuous, near-surface oxide gold mineralisation, showing consistent grades and thicknesses section-to-section
- Significant intersections from recent drilling included nine metres at 1.72 grams per tonne (g/t) gold, including two metres at 6.26 g/t gold
- TRE CEO Phill Russo says the results were “very pleasing” and testament to the potential at Kobada
- Shares in TRE are up 13.3 per cent and trading at 17 cents at 10:40 am AEST
Toubani Resources (TRE) has unlocked a newly identified structure less than one kilometre from its Kobada Main deposit in southern Mali.
Toubani’s first drill holes at Kobada West delineated continuous, near-surface oxide gold mineralisation, showing consistent grades and thicknesses section-to-section.
The company’s recent drilling struck “significant” intersections including nine metres at 1.72 grams per tonne (g/t) gold, including two metres at 6.26 g/t gold.
Other hits included one metre at 11.3 g/t gold and five metres at 1.26 g/t gold, five metres at 1.24 g/t gold, and three metres at 0.93 g/t gold.
Further assays included 11 metres at 0.55 g/t gold, two metres at 2.66 g/t gold and three metres at 1.12 g/t gold.
TRE Chief Executive Officer Phil Russo said the results were “very pleasing” and a testament to Kobada’s potential.
The company reported gold mineralisation was intersected in all of the five planned extensional targets drilled by Toubani in 2023, extending the overall strike extent of mineralisation from five kilometres to 11 kilometres.
Toubani announced the drilling results reaffirmed the company’s overall strategy of an oxide-dominant project of scale at Kobada with optimisation work streams underway.
“Toubani’s vision of defining a long-life, oxide dominant project of scale is supported by our drilling success to date and we look forward to demonstrating this potential as our optimisation efforts advance in the coming months,” Phil Russo said.
The Kobada project hosts a mineral resource of 3.1 million ounces over a 4.5 kilometres strike length, predominately oxide and open pittable.
Shares in TRE were up 13.3 per cent and trading at 17 cents at 10:40 am AEST.
