With a definition drilling program now complete, Toubani Resources (ASX:TRE) is looking to update the resource estimate at its Kobada Gold Project in southern Mali.
Completed between February and May this year, the drilling focused on testing key areas of near-surface, open pittable oxide mineralisation that falls within or immediately adjacent to preliminary pit designs.
Some of the final assays include 1m @ 100 grams per tonne (g/t) gold from 17m, and 7m at 3.06g/t gold from 37m; and 13m @ 6.23g/t gold from 88m, including 2m @ 25.9g/t gold.
An updated resource estimate at Kobada will be conducted by privately held consultants Entech. The resource estimate will focus on upgrading the resources from inferred to indicated.
Toubani’s current resource — which includes indicated and inferred categories — measures 87 million tonnes at 0.86g/t gold for a total of 2.39 million ounces.
Once complete, the updated mineral resource will be fed into revised pit optimisation studies, and mine designs and schedules. This will inform an updated Definitive Feasibility Study (DFS), which is currently in progress and due for delivery later this year.
CEO Phil Russo says the drilling program is a key milestone to have completed.
“These results will inform an update of our mineral resource estimate for Kobada with the objective of converting oxide inferred resources to indicated classification,” he says.
“We look forward to delivering this next milestone in our strategy as we move to demonstrate the Kobada Gold Project at an increased production scale and a competitive capital and operating cost structure.”
Write to Aaliyah Rogan at Mining.com.au
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