QUEBEC CITY, March 14, 2023 (GLOBE NEWSWIRE) -- Robex Resources Inc. (TSX-V:RBX; FRA:RB4) (“Robex” or the “Company”) is pleased to announce the ramp up of its exploration drilling campaign for 2023.
Highlights
- Minimum 50,000 meters of RC drilling will be done through 2023, in parallel with continuing DD drilling;
- Majority of drilling will be resources delineation drilling, remaining will be exploration focused at known deposits where there is significant resource potential;
- Initial exploration results are expected in Q2 2023.
Robex engaged Forage FTE Guinée for its exploration program over the past few months at Kiniero. Forage FTE mobilised two Schramm T450 drill rigs to undertake a minimum 50,000m Reverse Circulation (“RC”) drilling campaign, which commenced on Thursday 2nd March 2023.
Robex is focusing drilling in the south of Kiniero first, then to the north
Following on from the (i) discovery of Sabali South1, as well as (ii) the exciting results at Mansounia Central2 and at the SGA/Jean deposits3, Robex is planning to drill out known extensions of the southern Kiniero deposits, which will be drilled with a dedicated Forage FTE RC drill rig. Most of the drilling will be concentrated in this area (> 40,000 meters).
This ramp-up in drilling is an additional program to the trenching done at Kiniero over the past few months. This has included a (i) >1,000 meters of trenching since January 2023; and (ii) 7,727 meters power auger geochemical drilling campaign (5,287 meters of which was performed in year-to-date March 2023) at previously undrilled near-plant (<3km) targets, for which assays are awaited.
In addition, a maiden exploration drilling campaign in the north of the Kiniero License will be executed in Q2 of 2023. Drill planning will be guided by historical exploration results (drilling and trenching), and by the recently returned BLEG results and reconnaissance field mapping campaigns.
Drilling will be reconnaissance by design, complimenting historical exploration, and has been planned to initially be completed at the Mankan and Heriko deposits – two known deposits that are situated 15km directly along strike on the same mineralised super structure as the neighbouring Predictive Discovery Bankan deposit (see figure 1 below).
Sample preparation will be undertaken at the recently commissioned site based WESTAGO SARL at the Kiniero Gold Mine. Fire assay services will be provided by the internationally accredited ALS Laboratory in Ouagadougou, Burkina Faso. The use of WESTAGO will streamline cross-border sample dispatches, increase frequency of sample dispatches and improve turn-around-time on assay results, allowing for more focussed results-driven drilling to be completed.
Figure 1: Kiniero Gold District
Robex owns the Filon Bleu, Mankan, Heriko, SGA, Sabali and Mansounia deposits
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Robex Exploration Manager, Andrew de Klerk, said: “The delineation of new, and refining of known, exploration targets from the Project-wide BLEG soil sampling campaign has really highlighted the scale and magnitude of the prospectivity that the Kiniero Project offers.
Recent drilling results and mapped trenching observations support the strike extension drilling of known deposits in the south targeting near-plant resources. Further, the recently complete auger drilling campaigns has further refined additional near-plant targets for drilling.
From a prospectivity standpoint, we are very excited to undertake drilling in the north of the Kiniero License. This is an area that has long demonstrated the prospectivity to deliver a world class discovery, like that of the recently delineated neighbouring Bankan Deposit (Predictive Discovery), a deposit which is situated directly along strike from the same mineralised super structure that hosts the Mankan and Heriko deposits of Kiniero”.
Qualified Person
The technical disclosures contained in this press release have been approved by Andrew de Klerk, BSc (Hons), Pr.Sci.Nat, a Qualified Person pursuant to NI 43-101. Mr De Klerk is the Exploration Manager of the Company, a Member of the Geological Society of South Africa and a Member of The Southern African Institute of Mining and Metallurgy. Mr de Klerk is not independent of Robex as he is a full-time employee.
About Robex Resources Inc.
Robex is a multi-jurisdictional West African gold production and development company with near term exploration potential. The Company is dedicated to safe, diverse and responsible operations in the countries in which it operates with a goal to foster sustainable growth. The Company has been operating the Nampala mine in Mali since 2017 and is advancing the Kiniero Gold Project in Guinea.
Robex is supported by two strategic shareholders and has the ambition to become one of the most important mid-tier gold producers in West Africa.
More Information
Forward-looking information and forward-looking statements
This news release contains “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislations (“forward-looking statements”). Forward-looking statements are included to provide information about management’s current expectations and plans that allows investors and others to have a better understanding of the Company’s business plans and financial performance and condition.
Statements made in this press release that describe the Company’s or management’s estimates, expectations, forecasts, objectives, predictions, projections of the future or strategies may be “forward-looking statements”, and can be identified by the use of the conditional or forward-looking terminology such as “aim”, “anticipate”, “assume”, “believe”, “can”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “guide”, “indication”, “intend”, “intention”, “likely”, “may”, “might”, “objective”, “opportunity”, “outlook”, “plan”, “potential”, “should”, “strategy”, “target”, “will” or “would” or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. Such statements may include, but are not limited to, statements regarding the Company’s ability to successfully advance the Kiniero Gold Project and carry out the Kiniero Gold Project feasibility study; the Company’s ability to enter into definitive documentation in respect of the US$115 million project finance facility, including a US$15 million cost overrun facility (the “Facilities”) on the terms set out in the non-binding term sheet, on acceptable terms or at all; timing of the entering into of definitive documentation in respect of the Facilities; and assuming definitive documentation is entered into, the drawdown of the proceeds of the Facilities, including the timing thereof.
Forward-looking statements and information are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such statements or information. There can be no assurance that such statements or information will prove to be accurate. Such statements and information are based on numerous assumptions, including the Company’s ability to enter into definitive documentation for the Facilities on the terms set forth in the non-binding term sheet, on acceptable terms or at all, and to satisfy the conditions precedent to closing and advances thereunder (including satisfaction of remaining customary due diligence and other conditions and approvals); the Company’s ability to meet the timing objectives for definitive documentation and first drawdown of funds; the ability to execute the Company’s plans relating to the Kiniero Gold Project as may be set out in the Kiniero Gold Project pre-feasibility study, including the timing thereof; the Company’s ability to complete its planned exploration and development programs; the absence of adverse conditions at the Kiniero Gold Project; no unforeseen operational delays; no material delays in obtaining necessary permits; the price of gold remaining at levels that render the Kiniero Gold Project economic; the Company’s ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and mineral reserve estimates; and assumptions regarding present and future business strategies, local and global geopolitical and economic conditions and the environment in which the Company operates and will operate in the future.
Certain important factors could cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements and information including, but not limited to: financing costs or adverse changes to the terms of available financing, if any, for the Kiniero Gold Project; the Company’s ability to enter into definitive documentation for the Facilities on acceptable terms or at all; the Company’s ability to satisfy the conditions precedent to closing and advances thereunder (including satisfaction of remaining customary due diligence and other conditions and approvals); failure or delays to receive necessary approvals or otherwise satisfy the conditions to the completion of the Facilities; the proceeds of the Kiniero Gold Project financing not being available to the Company; fluctuations in gold and commodity prices; risks related to the geopolitical situation in Mali and related risks, including the risk of terrorism and armed banditry, fraud and corruption, security threats and resource nationalism; fluctuations in exchange and interest rates; the Company’s access to debt financing; uncertainty of the Company’s mineral reserve and mineral resource estimates; changes in the Company’s production and cost estimates; hazards and risks normally associated with mineral exploration and gold mining development and production operations; risks related to the Company’s external contractors and suppliers; the Company’s limited property portfolio; the depletion of the Company’s mineral reserves; the Company’s access to an adequate water supply for mining operations; the Company obtaining and maintaining required licenses and permits from various governmental authorities in order to operate; the Company obtaining and maintaining title to its mineral projects and exploration rights; competition with other mining companies; the Company’s ability to find and retain qualified and key personnel; environmental risks and hazards associated with operating a gold mine in Mali; the risk that the Company may not be able to insure against all the potential risks associated with its operations; risks related to the Company’s relations with its employees, shareholders and other stakeholders, including the local governments and communities surrounding its mine in Mali; the Company’s reliance on information technology systems; cybersecurity threats; the risk of any pending or future litigation against the Company; and tax risks, including changes in taxation laws or assessments on the Company.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. These factors are not intended to represent a complete and exhaustive list of the factors that could affect the Company; however, they should be considered carefully. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.
The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and results as at and for the periods ended on the dates presented in the Company’s plans and objectives and may not be appropriate for other purposes.
Please also refer to the section titled Risks and Uncertainties in the Company’s Management’s Discussion and Analysis for the three and nine months ended September 30, 2022, which is available under the Company’s profile on SEDAR at www.sedar.com, for additional disclosures about the risk factors that could cause results to differ materially from forward-looking statements. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
1 Press release dated 24th May 2022
2 Press release dated 28th November 2022
3 Press release dated 13th January 2023
