AMN - MALI: Nampala indicated gold resources up 77%

Robex Resources has integrated all its 2018-2019 drilling results to compile a new mineral resource estimate and reserve estimate for the Nampala Gold Project in Mali in accordance with National Instrument 43-101. Indicated resources have increased 77% to 429,000 ounces while inferred resources total 31,000 ounces.

The indicated resource totals 16.304 million tonnes at 0.82 g/t for 429,000 ounces, compared to 242,000 ounces in the 2018 estimate. This includes 216,000 ounces in oxide type (principally saprolite), 105,000 ounces in the transition zone and 107,000 ounces in fresh rock (sulphides).

This represents an increase of more than 60% in tonnes of resources available and 10.8% in the average grade.

Inferred resources total 1.296 million tonnes at 0.74 g/t for 31,000 ounces with 3,000 ounces in saprolite type (oxides), 14,000 ounces in the transition zone and 31,000 ounces in fresh rock (sulphides).

 Despite the amount of gold produced since the 2018 estimate, a drilling campaign of 27,000 metres has allowed for a significant increase in resources. Added to this is the 25,000 metres drilled on the MININKO permit for a total of 52,000 metres during the 2018-2019 campaign, nearly three times the effort for the previous campaign.

Following the 2018-2019 campaign, Robex has established a new reserve estimate. It was decided to carry out additional metallurgical tests before eventually integrating reserves in the transition zone and in fresh rock. As a result, there are 180,000 ounces of reserves as at April 30, 2019, only in oxide.

Robex estimates that, based on these assumptions, the current rate of production suggests that there is beyond four years of proven production. The company has ample time to invest in further work to identify new resources.

In addition, the very large increase in resources gives hope that the metallurgical tests to be carried out will already transform some of the resources established into new reserves.

To follow-up, the positive results from 2018-2019 drilling, the 2019 resource estimate and recommendations, a 2019-2020 drilling program will focus on the areas (West, East and South) with the main objectives of confirming continuity and achieving a definition campaign allowing the eventual publication of new resources in oxide mainly.

The new program plans an effort of about 30,000 metres of drilling and this campaign will take place after the rainy season.

President Georges Cohen said: “Robex Resources has established a rigorous development policy based on planned steps. After regenerating the fundamentals of the Nampala project, we then built a very effective production tool which is based on an operational plant. Next, we brought a plant to very efficiently boost operations.

“We are now approaching the development and expansion phase of the project, according to the re-engineered knowledge of our mineralised assets through the 2018 43-101 and plan for the future with this new 2019 43-101 which demonstrates the very significant increase in our resources.

“We can now continue our development by maintaining our exploration effort, carrying out the metallurgical work to adapt our current plant and thus process many more different types of ore.

“This cautious and structured step-by-step policy allows us to quickly build a solid mining operation that we hope to increase steadily. At the same time, we are actively pursuing our deleveraging policy.”

www.robexgold.com