Toubani Resources Hits 65g/t Gold at Foroko Boosting 2.2Moz Kobada Project
Key Takeaways
- Toubani Resources has returned bonanza-grade intercepts from Foroko including 28m at 8.86g/t gold (including 3m at 61.2g/t) and individual hits up to 74.0g/t gold from a 108-hole resource delineation programme.
- Foroko's 2.5km delineated strike length, located just 3km from the Kobada processing plant under construction, positions it as a near-term oxide feed source with lower haulage costs during early operations.
- The Foroko results will be incorporated into a Mineral Resource Estimate update targeted for early October 2026, followed by an Ore Reserve and mine plan update in Q4 2026.
- The Kobada Gold Project already hosts a 2.2 Moz resource (78Mt at 0.88g/t) and a 1.56 Moz Ore Reserve (53.8Mt at 0.90g/t), with Foroko representing potential upside to the existing inventory.
- Mining is targeted to commence in early 2027, with first gold scheduled for Q3 2027, as two RC rigs continue drilling at the Gosso area and one RC rig is scheduled to return to Foroko for follow-up.
Bonanza-grade hits reshape the resource picture at Kobada
Toubani Resources (ASX: TRE) has returned bonanza-grade drilling results from Foroko, a satellite target located 1–2km north-east of the Kobada Main deposit and 3km from the Kobada processing plant currently under construction in southern Mali. The results, drawn from a 108-hole resource delineation programme at Foroko within the broader Kobada Gold Project, will be incorporated into a Mineral Resource Estimate (MRE) update targeted for completion in early October 2026. Following the MRE, Toubani Resources plans to update the Ore Reserve estimate and mine plan in Q4 2026, supporting final pre-production planning ahead of the targeted commencement of mining in early 2027.
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Headline intercepts from Foroko — the numbers that matter
The drilling programme has returned some exceptional individual intercepts, with high-grade mineralisation associated with veining and structural controls across the deposit. All intercepts below are reported as downhole lengths; true widths have not been calculated. No top-cuts have been applied to assay data.
Standout results include:
- 28m at 8.86g/t gold from 188m incl. 3m at 61.2g/t gold (FORC26_107)
- 12m at 12.1g/t gold from 106m incl. 4m at 24.9g/t gold (FORC26_008)
- 1m at 32.4g/t gold from 168m & 1m at 65.5g/t gold from 196m (FORC26_095)
- 6m at 13.3g/t gold from 133m & 10m at 10.4g/t gold from 177m incl. 1m at 74.0g/t gold (FORC26_099)
- 2m at 30.1g/t gold from 121m & 3m at 14.6g/t gold from 112m (FORC26_015)
- 3m at 20.0g/t gold from 165m (FORC26_102)
Where grades and widths increase sharply in certain locations, the announcement notes this points to a structural control on mineralisation. That interpretation creates the opportunity to design future drilling to target high-grade structures down-dip and down-plunge.
Phil Russo, Managing Director
“These are some very impressive results from Foroko, one of our near-plant satellite targets, and appears to clearly define the high grade mineralisation within the deposit. We will look to incorporate Foroko into the forthcoming MRE update where the potential to add ounces to our MRE inventory is promising, while also creating real option value in the next phase of mine planning work. Drilling at Foroko has succeeded in the aim of adding operational flexibility during the first years of operation as an alternative source of near surface, oxide feed. The systematic drill out of the near-mine targets and satellites will enhance the project life at Kobada and prepare the operation for sustained success. We look forward to both the new MRE and further drilling results from Gosso and other satellite prospects as we continue in parallel to execute the development of the Kobada Gold Mine.”
What is resource delineation drilling and why does it matter?
Not all drilling serves the same purpose. Exploration drilling looks for new mineralisation in areas where little may be known. Resource delineation drilling is different: it confirms and defines what is already known, using holes drilled at sufficient spacing to statistically model the size, shape, and grade of a mineralised body.
That modelled body forms the basis of a Mineral Resource Estimate (MRE), which is a formal, JORC-compliant statement of how much gold-bearing material exists and at what grade. The MRE then feeds into an Ore Reserve estimate, which applies additional economic and technical filters (mining costs, recoveries, pit designs) to define the portion that is commercially viable to mine. The Ore Reserve, in turn, underpins the mine plan that sequences when and how ore is extracted.
At Kobada, Foroko has now been drilled at sufficient spacing along its 2.5km delineated strike length to be considered for incorporation into the current MRE update. One additional factor worth understanding is the nature of the mineralisation itself: Foroko hosts oxide gold. Oxide material (laterite, saprolite, and transitional rock near the surface) is typically cheaper and simpler to process than deeper fresh rock, which contains sulphides requiring more complex treatment. For a project approaching first production, a nearby, shallow oxide source adds both economic and operational appeal.
Foroko joins a 2.2 Moz project already on the path to production
Foroko is a satellite addition to an already substantial project. The Kobada Gold Project currently hosts a combined Indicated and Inferred Mineral Resource of 2.2 Moz (78Mt at 0.88g/t), occurring over a 4.5km strike length that is predominantly oxide and open pittable, as reported in the ASX announcement dated 2 July 2024.
The project also carries an established Ore Reserve of 1.56 Moz (53.8Mt at 0.90g/t), as reported in the ASX announcement dated 31 March 2025. Both the resource and reserve figures are summarised in the tables below.
| Material Type | Classification | Tonnes (Mt) | Grade (g/t) | Ounces (Moz) |
|---|---|---|---|---|
| Oxide | Indicated | 49 | 0.88 | 1.38 |
| Oxide | Inferred | 3 | 0.81 | 0.08 |
| Oxide | Total | 52 | 0.88 | 1.46 |
| Fresh | Indicated | 22 | 0.84 | 0.60 |
| Fresh | Inferred | 4 | 1.10 | 0.13 |
| Fresh | Total | 26 | 0.88 | 0.73 |
| Total | All | 78 | 0.88 | 2.20 |
| Material Type | Classification | Tonnes (Mt) | Grade (g/t) | Ounces (Moz) |
|---|---|---|---|---|
| Oxide | Probable | 44.3 | 0.88 | 1.26 |
| Fresh | Probable | 9.4 | 0.99 | 0.30 |
| Total | Probable | 53.8 | 0.90 | 1.56 |
With Foroko’s 2.5km strike length now delineated at resource-definition spacing, the company anticipates the satellite deposit can be incorporated into the upcoming MRE update, with the potential to add ounces to the existing inventory. The announcement notes the company is not aware of any new information that materially affects the assumptions underpinning the existing resource and reserve estimates.
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What comes next — MRE, mine plan, and the road to first gold
The Foroko results feed into a sequenced development timeline with clear milestones:
- MRE update incorporating Foroko results — targeted early October 2026
- Ore Reserve estimate and mine plan update — targeted Q4 2026
- Final pre-production planning — supported by the updated reserve and mine plan
- Commencement of mining — targeted early 2027
- First gold — scheduled Q3 2027
Drilling activity at Kobada continues on multiple fronts in parallel. Two RC rigs are currently operating at the Gosso area, east of Kobada, and an aircore rig is drilling to the south of the Kobada Main deposit testing for extensions to mineralisation. One RC rig is scheduled to return to Foroko to follow up intersections that remain open, meaning further results from the satellite target are anticipated.
Foroko’s location, sitting just 3km from the processing plant under construction, is a practical advantage. Shorter haulage distances reduce operating costs and give the project an alternative source of near-surface oxide feed during the first years of operation, adding scheduling flexibility when it matters most.
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