Toubani Resources announces further results from resource definition drill program at Kobada Gold Project

Toubani Resources, Inc (ASX: $TRE) has announced further results from its resource definition drill program at its Kobada Gold Project in southern Mali. The project hosts 2.4 Moz in Mineral Resources over a 4.5km strike length and is predominantly oxide and open pittable.

Executive Commentary on Kobada Gold Project

Toubani Chief Executive Officer, Phil Russo, commented: '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.'

Summary of Kobada Gold Project Announcement

Toubani Resources has affirmed the scale potential of Kobada with further shallow, high-grade oxide mineralisation defined. The company's confidence is growing in demonstrating Kobada as an advanced stage, large scale, oxide gold project. The drilling activities are expected to conclude in mid-April, with results informing an updated Mineral Resource Estimate in 2Q 2024 to underpin Ore Reserve studies as part of the DFS Update. The intersections from the drill program are anticipated to increase the confidence in future resource estimations, potentially resulting in increased inventories to inform mining studies in the forthcoming updated Definitive Feasibility Study ('DFS'). Toubani Resources is focused on advancing Africa's next large gold development project with its oxide-dominant Kobada Gold Project and aims to deliver an updated feasibility study later this year.