Toubani drilling extends Kobada South oxide gold ahead of resource upgrade

Toubani Resources Limited Registered Shs ( (AU:TRE) ) has issued an announcement.

Toubani Resources has reported new reverse circulation drilling results from the Kobada South area of its Kobada Gold Project in Mali, defining oxide gold mineralisation along a 1.6km strike in zones parallel to the main deposit and within 1km of the planned process plant. The drilling, which targeted areas previously classified largely as Inferred, returned multiple high-grade, near-surface intercepts that are expected to support an increase in the oxide mineral resource and potentially upgrade parts of Kobada South into the higher-confidence Indicated category.

These results will be incorporated into an upcoming mineral resource estimate update, which the company plans to commence in the coming months as RC drilling continues into northern parts of the deposit testing similar targets. Management highlighted that the newly defined oxide material could be fast-tracked into the mine plan, underpinning a longer open-pit mine life and reinforcing Kobada’s growth pipeline as construction advances following a recent agreement with the State of Mali.

The most recent analyst rating on (AU:TRE) stock is a Hold with a A$0.47 price target. To see the full list of analyst forecasts on Toubani Resources Limited Registered Shs stock, see the AU:TRE Stock Forecast page.

More about Toubani Resources Limited Registered Shs

Toubani Resources Limited is an ASX-listed gold exploration and development company focused on its Kobada Gold Project in southern Mali. The project hosts a predominantly oxide, open-pittable mineral resource over a 4.5km strike, positioning the company within the West African gold sector with an emphasis on expanding near-surface resources close to planned processing infrastructure.

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Technical Sentiment Signal: Buy

Current Market Cap: A$13.01M

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