Toubani Resources Inc. (TSX-V:TRE) said it has hired Etasi & Co Drilling SARL to carry out the 2022/23 exploration drilling campaign at its flagship Kobada project in Mali.
ETASI is well placed for the work as it is the successor company to AMCO, which conducted Toubani's phase 1 and 2 programs during the 2019-2022 program.
"Following on from our successful ASX listing, we have moved quickly to appoint a professional Mali-based drilling contractor to undertake an extensive drill programme on our Kobada Project site," said Toubani CEO Danny Callow in a statement.
"The appointment of ETASI follows on from our commitment to focus on determining the highly prospective upside on our concessions, and building on our baseline of total mineral resource estimate of 3.1 million ounces," he added.
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Callow noted that Toubani has spent three years drilling and understanding the structural geology in the region and on its three contiguous concessions and said ETASI will start to test the "highly prospective shear zone areas", which have been identified.
These target areas are based on the results of soil geochemical sampling, artisanal mining, geophysics trends and historical drillholes in the larger Kobada permit area.
The aim of the campaign is:
- To test the mineralised zone of the main shear zone (MSZ) to the south and north
- To test the continuity of a second mineralised zone to the east of the main Kobada orebody
- Drill around historical artisanal mining where there are extensive workings
- Test new potential gold mineralised zones
- Follow up on auger drilling anomalies showing strong gold mineralisation
Toubani Resources wants to build Africa’s next mid-tier gold producer. The advanced Kobada project in southern Mali is the main asset. A 2021 definitive feasibility study has been completed.
As well as the initial Kobada project, other exploration locations have been identified on the Kobada, Farada and Kobada Est concessions, offering the potential to increase the resource.
Contact the author at giles@proactiveinvestors.com