ASX:TRE - Toubani To Pursue Optimised DFS Update

View this email in your browser TOUBANI TO PURSUE OPTIMISED DFS UPDATE Toubani Resources, Inc (ASX: TRE) ("Toubani Resources" or the "Company") advises that the Board of Directors has approved the commencement of an update of the 2021 Definitive Feasibility Study (DFS) for its 3.1Moz Kobada Gold Project in southern Mali. Highlights Toubani believes that Kobada is on the path to becoming the next West African gold mine of significant scale, underpinned by a substantive initial oxide phase operation DFS Update to assess the potential for a higher processing rate, and consequently increased annual gold production, with an initial oxide focussed project phase followed by the inclusion of fresh material later in the mine plan Toubani believes that a bulk tonnage oxide mining and processing operation represents a lower overall technical risk profile for the project as mining methods are not required to be highly selective, minimal drilling and blasting is required and crushing and grinding circuits are simplified and not as power intensive DFS Update to start in July 2023 to optimise both oxide and fresh rock project phases, including the significant stockpile balances built over the first 10 years of the 2021 DFS mine plan Targeted drilling program to convert Inferred Mineral Resources within the 2021 DFS pit design to Indicated category is planned DFS Update will identify the optimal execution approach for the project with engineering groups tendering proposals in the coming weeks and completion targeted by end of 2023 Chief Executive Officer, Phil Russo commented: "We are excited to commence the DFS Update workstream as we believe the full potential of Kobada as the next West African gold mine of scale has yet to materialise. The DFS Update will pursue the potential for the project to be reoptimized to a throughput level that more aptly supports a bulk mining and lower overall technical risk approach, which is further strengthened when considering the significant existing resources of oxide, free digging material at Kobada. We believe Kobada has all the attributes to distinguish itself from its other West African development peers, being free milling ore, a large oxide resource with attractive fresh rock optionality, while also permitted. We look forward to completing the update to the DFS later this year to aim to demonstrate the robustness and lower overall risk profile that a larger Kobada project could deliver."   Read Full Announcement TOUBANI PRESENTING AT THE GOLD COAST INVESTMENT SHOWCASE Watch Video TOUBANI FEATURED ON THE MARKET HERALD'S BOARDROOM Watch Video TOUBANI FEATURED IN THE MARKET HERALD'S THEMATICA REPORT  Read Article THE MINING PODCAST Listen to Podcast CORPORATE SNAPSHOT Company Name: Toubani Resources ASX: TRE About Toubani Resources Inc  Toubani Resources (ASX: TRE) is an exploration and development company with a focus on expanding its existing total resource base of 3.1 million ounces. The Company has a highly experienced board and management team with a proven track record in the African mining sector operating mines from development through to production. Toubani Resource's principal asset is the Kobada Project in southern Mali, which is in an advanced stage of development having completed a Definitive Feasibility Study in September 2021 showing robust economics for a 100,000oz per annum production profile over 10 years. The company believes the flagship project to be largely de-risked based upon the results of the study, and further exploration will build on the substantial baseline of 3.1 million ounces total resource, and 1.2 million ounces of reserves. As well as the initial Kobada Gold Project mining concession, other highly prospective exploration locations have been identified on the Kobada, Gosso and Kobada Est concessions based upon systematic regional exploration techniques. These additional exploration areas are part of the targeted drilling campaign as outlined above, with a view to increase strike length and grow resource ounces. For more information regarding Toubani Resources visit our website at www.toubaniresources.com.   TOUBANI FEATURED IN THE PRESS STOCKHEAD - 15 JUNE 2023 Kobada's oxide-dominant ore could make Toubani the next West African gold producer MARKET HERALD - 17 MAY 2023 Toubani Resources (ASX:TRE) unlocks new discovery at Kobada, Mali PROACTIVE - 16 MAY 2023 Toubani Resources strikes gold in never-before drilled target next to Kobada Main; shares jump Our mailing address is: info@toubaniresources.com Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.