Toubani Resources Reports High-Grade Gold Drilling Results at Kobada Ahead of Q3 2026 Resource Update

• Multiple high-grade gold intercepts from pre-production infill drilling
• Upcoming Mineral Resource Estimate update scheduled for Q3 2026
• Drilling extends oxide resources near processing plant at Kobada South and Foroko
• Approximately 30,000m of a 60,000m RC drilling program completed in 2026
• Ore Reserves stand at 1.56 million ounces, predominantly oxide and open pittable

High-Grade Intercepts Highlight Kobada's Rich Zones

Toubani Resources (ASX:TRE) has reported a series of impressive gold assay results from its ongoing reverse circulation (RC) drilling program at the Kobada Gold Project in southern Mali. The pre-production infill drilling, targeting near-plant oxide ounces, has returned multiple wide intercepts with grades that confirm the high-grade nature of the deposit. Notable hits include 72 metres at 2.27 grams per tonne (g/t) gold from 92 metres, featuring intervals of 16.8g/t and 12.5g/t, and a standout 1 metre at 86.5g/t from just 17 metres depth. These results underpin the confidence in Kobada’s mineralisation ahead of a Mineral Resource Estimate (MRE) update planned for Q3 2026.

Resource Update to Shape Mining Schedule for 2027 Start

The drilling program is a critical step in refining the northern portion of the Kobada MRE, providing detailed data to enhance geological models and mine planning. The updated MRE will inform the near-term mining schedule, with first production targeted for early 2027. While assay results from nearly half of the 47 holes drilled are still pending due to laboratory delays, Toubani has begun dispatching samples to alternative labs to mitigate further hold-ups. The current data suggests a positive local impact on the resource, particularly in the 100 to 200 metres vertical depth range.

Expanding Oxide Resources at Kobada South and Foroko

Beyond the northern MRE infill, follow-up drilling at Kobada South has successfully extended oxide mineralisation over a 1.6-kilometre strike length, parallel to the main Kobada Shear. Recent assays include 4 metres at 3.71g/t gold and a remarkable 1 metre at 79.2g/t, confirming the potential to lengthen the mine life by adding near-surface ounces. Meanwhile, drilling at the Foroko area, northeast of Kobada, is ongoing with two rigs focused on delineating additional oxide resources close to the processing plant. The program aims to increase mining schedule flexibility and extend the project’s production profile.

Project Scale and Development Progress

Kobada hosts a combined Indicated and Inferred Mineral Resource of 2.2 million ounces at an average grade of 0.88g/t gold, predominantly oxide and suitable for open-pit mining. The Ore Reserves stand at 1.56 million ounces with a slightly higher grade of 0.90g/t. Toubani’s comprehensive 2026 drilling campaign aims to complete 60,000 metres of RC drilling as part of a broader 100,000-metre project-wide program. This strategic drilling supports not only resource upgrades but also the optimisation of mining schedules and equipment utilisation.

The company is advancing construction and financing in parallel, having secured over US$73 million in project finance and progressing earthworks on site, with first gold production targeted in the third quarter of 2027. The combination of robust drilling results and solid project execution positions Kobada as a promising addition to West Africa’s gold mining landscape.

Bottom Line?

As assay results continue to flow and the Q3 resource update approaches, Toubani’s Kobada project remains on a clear path toward production, but investors should watch how pending data shapes the final resource and mine plan.

Questions in the middle?

• How will the pending assay results influence the upcoming Mineral Resource Estimate update?
• Can drilling at Foroko and Gosso deliver meaningful extensions to oxide resources?
• What impact will resource upgrades have on the mine schedule and capital expenditure?