Dec 5 2022Reviewed by Alex Smith
Following the company’s successful listing on the Australian Securities Exchange, and in keeping with its strategy of concentrating funds raised on the exploration of its flagship Kobada Project, Toubani Resources, Inc. has announced that Etasi & Co Drilling SARL has been chosen to carry out the upcoming exploration drilling campaign.
The contract for the upcoming drilling campaign has been given to a drilling company with a West Africa focus that has a permanent base in Mali, keeping with the company policy of using high-quality local service providers. With its skilled staff, ETASI has earned a reputation.
With a fleet of drilling rigs, related equipment that is meticulously maintained, and previous drill campaign experience at the Kobada Project, ETASI is perfectly situated for the drilling campaign at the Kobada Project.
The company that carried out the Phase 1 and Phase 2 programs during the 2019–2022 drilling programs is ETASI, the successor to AMCO.
Following on from our successful ASX listing, we have moved quickly to appoint a professional Mali-based drilling contractor to undertake an extensive drill program on our Kobada Project site. 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.
Danny Callow, President and Chief Executive Officer, Toubani Resources, Inc.
Callow added, “We have spent three years drilling and understanding the structural geology in the region and on our three contiguous concessions and this appointment will start to test these highly prospective shear zone areas identified as a result of this. We are looking forward to this next stage in the Company’s future and updating the market with results of this campaign.”
2022/2023 Drilling Campaign
In the larger Kobada mining permit area, the drilling campaign in 2022–2023 will concentrate on the previously identified target areas based on soil geochemical sampling, artisanal mining, geophysics trends, and historical drill holes. The drilling campaign has the following objectives:
- Testing the mineralized zone of the main shear zone (“MSZ”) to the south and north
- Testing the continuity of a second mineralized zone to the east of the main Kobada orebody
- Drilling around historical artisanal mining where there are extensive workings
- Testing new potential gold mineralized zones
- Follow up on auger drilling anomalies showing strong gold mineralization
The contract covers the drilling and exploration services that ETASI will offer throughout the Kobada Project’s drilling campaign. ETASI will charge market rates for its services. The remaining clauses of the contract are typical for a contract of this kind.