Toubani Resources (ASX:TRE) will soon start a resource definition drill program following completion of pit optimisation studies at its Kobada Gold Project in southern Mali.
Results from the resource definition drilling are expected during the March quarter.
In an update on the Definitive Feasibility Study (DFS) and work plan ahead for Kobada, Toubani today (22 January 2024) says the program will be highly targeted.
It will focus on key high value inferred areas of the optimised pit shell that can be converted to the indicated category, reducing in‐pit waste material and potentially benefitting the overall project.
Engineering and design of the process flowsheet to optimise capital and operating costs for the project will also advance. Non‐process infrastructure will be reviewed with a focus on site access and transport routes. Following this, the DFS update will move to final pit design, mining and processing schedules, capital expenditure estimate and detailed financial modelling over the first half of 2024.
The Kobada project hosts 2.4 million ounces in mineral resources which occurs over a 4.5km strike length and predominantly near‐surface oxide material and open pittable.
Toubani Chief Executive Officer Phil Russo says Kobada has potential to be a large, simple, low technical risk and low operating cost oxide project.
“The primary objective of updating the past study at Kobada is to understand the project’s optionality, define the optimal approach forward, and translate that into the upcoming drill program and next phase of engineering work.
The optimisation studies have highlighted the benefit to the project of targeting areas within the pit shell for resource definition drilling to convert the Inferred material, currently classified as waste, to indicated with drilling planned to commence shortly.
With the completion of these initial studies, a key milestone has been met that validates our strategy that Kobada has the attributes to become a mine and we look forward to continuing this momentum in 2024.”
Toubani notes the DFS update is focused on defining the development of a bulk mining approach to bring forward processing of a larger tonnage of majority oxide ore to a larger processing plant (rather than placing this material on stockpiles) compared to previous project studies.
The company’s view is that an increased operating profile at Kobada will benefit the project overall and reduce risk, including lower operating costs and the potential for staged ramp up scenarios. Previous studies completed in 2021 contemplated a processing plant with a 3Mtpa throughput rate, with mining rates averaging 24Mtpa to enable a higher‐grade feed in years one to 10. At the end of 2023 substantial progress had been made in key areas of the DFS Update using respected industry consultants.
Metallurgical testwork completed at the Kobada Gold Project has been reviewed by Lycopodium Minerals and found to be adequate for the DFS with no significant metallurgical issues, confirming Kobada as a free milling deposit with high recoveries of about 95% in the oxide material. Further samples to provide variability data for process design are likely to be collected during the work program.
Write to Adam Orlando at Mining.com.au
Images: Toubani
