How Toubani’s Drilling Uncovered 1.6km of New High-Grade Gold at Kobada South

Expanding the Kobada Gold Project

Toubani Resources Limited (ASX – TRE) has announced promising results from its ongoing reverse circulation (RC) drilling program at the Kobada Gold Project in southern Mali. The latest drilling has successfully delineated a 1.6-kilometre strike length of oxide gold mineralisation at the Kobada South area, located within 1 kilometre of the project's process plant site. This discovery adds a significant new dimension to the project’s resource base, which already hosts 2.2 million ounces of gold in mineral resources.

High-Grade Intercepts Near Surface

The drilling has returned several high-grade, near-surface oxide gold intercepts, including standout results such as 19 metres at 1.02 grams per tonne (g/t) from 8 metres depth and an exceptional 1 metre at 39.7 g/t from 85 metres. Other notable intercepts include 5 metres at 3.53 g/t and 7 metres at 2.31 g/t, highlighting the potential for economically viable open-pit mining. These results confirm the presence of multiple parallel mineralised zones adjacent to the main Kobada Shear, a key structural feature controlling gold mineralisation in the area.

Implications for Resource Growth and Mine Planning

The mineralisation at Kobada South lies on the margins of the current Mineral Resource Estimate (MRE), predominantly classified as Inferred. The new drilling results are expected to increase the oxide MRE and potentially upgrade parts of the resource to the higher confidence Indicated category. This upgrade could provide Toubani with greater operational flexibility and extend the mine life by adding near-surface oxide material to the mining inventory. The company plans to incorporate these results and updated geological interpretations into an MRE update scheduled to commence in the coming months.

Ongoing Drilling and Future Targets

RC drilling continues at Kobada, with current efforts focused on the northern portion of the deposit to test similar mineralisation targets adjacent to the existing MRE. Beyond Kobada South and North, Toubani intends to explore other promising areas such as Foroko, Gosso, and Kobada West, aiming to build a pipeline of growth opportunities. The company has budgeted for 60,000 metres of RC drilling in 2026 as part of a broader 100,000-metre project-wide drilling program, signalling a strong commitment to resource expansion.

Strategic Outlook

Managing Director Phil Russo emphasised the upside potential at Kobada despite its advanced stage, noting that the proximity of new mineralisation to the process plant could enable rapid integration into the mine plan. Following a recent agreement with the State of Mali, Toubani is advancing at full speed towards construction and development. The company’s systematic approach to drilling and resource definition underscores its strategy to underpin a robust and scalable gold operation in West Africa.