Highlights

  • Toubani Resources has announced high-grade RC drilling results from the footwall contact at the Kobada Main Deposit in Mali, with four holes intersecting significant gold mineralisation that will be incorporated directly into the current MRE update due for completion in coming weeks.
  • The updated MRE will inform an Ore Reserve estimate and mine plan due in early January 2027, which will in turn support final pre-production planning ahead of a targeted commencement of Mining at the beginning of 2027.
  • Resource delineation drilling at the Gosso deposit has confirmed gold mineralisation continuity across a 2.8-kilometre strike length, with high-grade intersections associated with veining, adding Gosso as a second source of supplementary ore feed in the development pipeline.
  • Gosso is located 5 kilometres from the Kobada processing plant currently under construction and joins the previously identified Foroko deposit as a source of supplementary ore, potentially enhancing project life and operational flexibility.

Toubani Resources Limited (ASX:TRE) is an ASX-listed gold development company focused on the Kobada Gold Project in southern Mali. The project hosts a substantial mineral resource and ore reserve predominantly in oxide and transitional mineralisation, with construction of the processing plant and associated infrastructure currently underway. The company is targeting the commencement of mining at the beginning of 2027. On 5 November 2026, Toubani announced the results of two separate RC drilling programs — one at the footwall of the Kobada Main Deposit and one at the Gosso deposit — with both returning results of significance for the project's development trajectory.

Kobada Footwall Drilling and Its Development Implications

The footwall drilling program at the Kobada Main Deposit was a targeted program designed by independent resource consultants to intersect the footwall contact on specific sections to improve the mineralisation interpretation at an appropriate level of detail. The four holes completed returned significant gold intersections, with zones at depth proving more substantial than the current mineralisation interpretation in the existing resource model. The company noted that these results are accordingly expected to increase confidence in the near-surface interpretation used in early phases of mining and to potentially increase resources at greater depths. All four holes' assay results will be incorporated directly into the ongoing mineral resource estimate update, which is due for completion in coming weeks.

Finalisation of the updated MRE will then enable the company to progress to an updated Ore Reserve estimate and mine plan, which is targeted for completion in early January 2027. This work represents the final quantitative foundation required ahead of the commencement of mining at the beginning of 2027. The company's managing director expressed confidence that the footwall drilling results have been worth the short delay to the MRE update required to incorporate them, given the quality of the intersections returned.

Gosso Deposit Added to Development Pipeline

At the Gosso deposit, located approximately five kilometres from the Kobada processing plant currently under construction, drilling on a 50 by 50 metre grid has confirmed the continuity of gold mineralisation across a 2.8-kilometre strike length. High-grade intersections were returned from multiple holes, with elevated grades associated with veining within broader zones of lower-grade mineralisation. Almost all results are from the oxide zone, consistent with the deposit's near-surface character. With the mineralisation confirmed as continuous and remaining open along strike and at depth, Gosso has been added to the project development pipeline as a second source of supplementary ore feed alongside the previously identified Foroko deposit.

Following the completion of the Kobada MRE update, the company intends to undertake a further phase of drilling at Gosso to support a maiden MRE for that deposit in 2027. The addition of Gosso — and the potential it represents for adding ore tonnes that extend project life and provide operational flexibility — is a meaningful development for the Kobada project as a whole, given that the main deposit's existing ore reserve already supports a multi-year production schedule.

Key Takeaways

Toubani Resources' footwall drilling at Kobada and the development of the Gosso deposit as a second ore source represent two positive indicators for the project as it moves towards the commencement of mining at the start of 2027. The footwall results, which will be incorporated into the imminent MRE update, suggest that the deposit's mineralised system is more extensive in the footwall than previously modelled, potentially adding both confidence and Volume to the updated resource. The addition of Gosso to the development pipeline alongside Foroko provides optionality for ore blending and processing continuity that could benefit the project's long-term operational flexibility. The key milestones to watch in the near term are the MRE update, the subsequent Ore Reserve and mine plan in January 2027, and the commencement of grade control drilling.