Recent drilling results confirm what management at Toubani Resources (ASX:TRE) suspected, that the Kobada Project in southern Mali can transition from a developer to production with the right guidance.
With significant capital already invested and testing of key areas near the surface, Kobada could be a low cost producer alongside other mining giants in the region such as B2 Gold and AngloGold Ashanti.
To date, 91 drill holes have been completed for a total of 9,309 metres. Target Drilling have made excellent progress with the drilling program and drilling is anticipated to be completed shortly.
Commenting on the results, Toubani Chief Executive Officer Phil Russo says: “Kobada’s potential is clearly evident in our drilling to date as momentum in the resource definition program continues to build. “Numerous results have now been received of significant width and tenor and these will be included in our mineral resource update this quarter.
Our confidence is growing in demonstrating Kobada as one of the few remaining, if not the sole, advanced stage, large scale, oxide gold projects in the hands of a single-asset developer with the delivery of an updated feasibility study later this year.”
