Toubani Resources developing next major gold project in West Africa

Melbourne, Victoria

--News Direct--

Toubani Resources Inc (TREAGGFF CEO Phil Russo tells Proactive the company has revised the mineral resource estimate for Kobada Gold Project in southern Mali, as part of a definitive feasibility study (DFS) to further the company's ambitions to develop West Africa's next major gold mine. The gold developer undertook the review to assess the suitability of the previous resource model, completed in 2021, in a larger scale processing and mining operation. The new Kobada MRE is 87 million tonnes at 0.86 g/t for 2.4 million ounces of gold, with 1.5 million ounces of shallow, free dig oxide resources.

"Today's MRE update marks a significant step forward for the company," Russo said.

"We have now delivered the critical review and re-estimation of the 2021 MRE, given the new team now steering Kobada, mentioned in our decision to optimise the 2021 DFS last month.

"The company's vision is to reposition Kobada as a reduced technical risk, low strip, bulk-tonnage, oxide-dominant open pit development project of scale.

"Today's MRE update confirms we are well on our way in delivering on this goal."

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

jonathan@proactiveinvestors.com

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