Nampala Project (Mali): Exploration Program Started in 2017 to be Double Based on Promising and Encouraging New Mineral Resource Estimate and Supported by Well-oriented Geology
QUÉBEC CITY, Quebec, Sept. 24, 2018 (GLOBE NEWSWIRE) -- Robex Resources Inc. (« Robex » and/or « the Company ») (TSXV : RBX / FWB : RB4) is pleased to report to the market the integration of all its 2017-2018 drilling results in a new Mineral Resource estimate in accordance with National Instrument 43-101 and resumption of its exploration and drilling works on its Nampala gold project (Nampala and Mininko properties, Mali).
2017-2018 DRILLING AND NEW MINERAL RESOURCE ESTIMATE (MRE 2018) HIGHLIGHTS 1
Main highlights are:
- Indicated Mineral Resources totaling 242,000 ounces of gold (175,000 oz in saprolite type (oxides), 61,000 oz in transition zone and 6,000 oz in fresh rock (sulphides)), which corresponds to a total of 10,148,000 t at 0.74 g/t Au;
- Inferred Mineral Resources totaling 81,000 ounces of gold (61,000 oz in saprolite type (oxides), 16,000 oz in transition zone and 4,000 oz in fresh rock (sulphides)), which corresponds to a total of 3,429,000 t at 0.73 g/t Au;
- Impact positif 2017-2018 drilling overall positive impact on the project. Sensitivity tests (same parameters, with and without 2017-2018 drilling) shows 10,8% increase in gold ounces (+ 8.7% in tonnes and + 2.4% in grade);
- 2018 resources are mostly located within the saprolite (oxides) levels and constrained within a Whittle pit shell (resource’s level) at the same minimum cut-off grade used for the current mining operations at Nampala;
- InnovExplo concluded that the 2018 MRE allows the Nampala project to further advance through engineering studies, detailed mine planning and economic studies required for its operation.
1 The Nampala 2018 MRE has been completed by the Canadian firm InnovExplo under the responsibility and supervision of Alain Carrier, M.Sc., P.Geo. (OGQ #281), independent and qualified person under National Instrument 43-101.
T he 2018 Mineral Resource Estimate includes five (5) main gold mineralized zones:
- Nampala Main zone: mostly constitute of Indicated resources, this zone corresponds to the actual Nampala pit currently into production, results shows deep roots of the mineralized system into the fresh rocks under the saprolite levels illustrating potential at depth;
- Nampala South zone: this zone is currently characterized by limited drilling and Inferred resources and shows potential for upgrading Inferred into Indicated and a potential for adding new Inferred resources;
- Nampala West and Intrusive zones: results demonstrate the occurrence of gold mineralization and resources West of the Nampala Main zone;
- Nampala East zone: this zone is characterized by Inferred resources, limited drilling and remains open beyond the current interpreted mineralized zones;
- Furthermore, geochemical and geophysical anomalies show an exploration potential for new gold discoveries along favorable NNE-SSW structures going from the Nampala permit into the Mininko exploration permit.
All these elements are very encouraging, give reasonable hope for the discovery of new resources in all directions, and provided rational elements to build the new exploration program currently starting.
These results also provide very important information to Robex by confirming the excellent orientation of the gold potential with exploration permits’ geometry on the area that covers a total of 160 km², which are corresponding to the properties of MININKO (Nampala mine) and KAMASSO, adjacent to the south, whose ROBEX is the beneficiary.
2018 MINERAL RESOURCE ESTIMATE (2018 MRE)
The Nampala 2018 MRE has been completed by the Canadian firm InnovExplo under the responsibility and supervision of Alain Carrier, M.Sc., P.Geo. (OGQ #281), independent and qualified person under National Instrument 43-101. The goal of InnovExplo’s mandate was to supervise the 2017-2018 drilling and to complete a compliant mineral resource estimate using all recent and validated data from the 2017-2018 drilling, validated historical exploration data and exploitation data coming from the current mining operation at Nampala. InnovExplo considers the 2018 MRE to be reliable, thorough, based on quality data, reasonable hypotheses, and parameters that conform to NI 43-101 and CIM Definition Standards. See Table 1 on the following page.
Table 1. – Nampala (2018) Mineral Resource Estimate*
|Wheathering Profiles||Indicated Resource||Inferred Resource|
|Tonnage (t)||Au (g/t)||Ounces||Tonnage (t)||Au (g/t)||Ounces|
|Saprolite (≥ 0.40 g/t)||7,606,000||0.72||175,000||2,688,000||0.71||61,000|
|Transition (≥ 0.40 g/t)||2,361,000||0.80||61,000||626,000||0.79||16,000|
|Fresh Rock (≥ 0.75 g/t)||181,000||1.03||6,000||115,000||1.08||4,000|
* Notes to Accompany Table 1. – Nampala (2018) Mineral Resource Estimate:
- The independent and qualified person for the mineral resource estimate, as defined by NI 43-101, is Alain Carrier, M.Sc., P.Geo. (OGQ #281), and the effective date of the estimate is July 15, 2018.
- These mineral resources are not mineral reserves as they do not have demonstrated economic viability.
- The mineral resource estimate follows 2014 CIM definitions and guidelines for mineral resources.
- Results are presented in situ and undiluted for open pit scenario and considered to have reasonable prospects for economic extraction.
- The estimation encompasses five different zones subdivided into 17 mineralized sub-domains each defined by individual wireframes within a broader domain (dilution envelope) and with a minimum true thickness of 2 m. The topographic surface of the active Nampala Open pit Mine is dated of June 26, 2018.
- High-grade capping of 14.5 g/t Au Nampala Main;7.0 g/t Au Nampala Intrusive,Nampala West and Nampala East and 4.0 g/t Au Nampala South; and 4 g/t Au dilution envelope was applied to assay grades prior to compositing grade for interpolation using an Ordinary Kriging interpolation method based on 2.0 m composite (using the grade of the adjacent material when assayed or a value of zero when not assayed) and block size of 10 m x 10 m x 10 m using GEOVIA GEMS 6.8.1, with bulk density values applied by weathering profiles (g/cm3): Saprolite (Oxide) = 1.64; Transition = 2.18, and Fresh Rock (Sulphides) = 2.72.
- The estimate is reported for open pit potential scenario at a 0.4 g/t Au cut-off for the saprolite and transition zones and at a 0.75 g/t Au cut-off for the fresh rocks. The cut-off grades were calculated using a gold price of USD1,300/oz, CAD:USD exchange rate of 1.29 (1-year trailing average) and the following parameters: (a) Saprolite and transition zone open pit scenario: mining cost per tonne = CAD 3.25; processing cost = CAD 6.32; G&A = CAD 10.55, pit slope of 46.2 degrees used during Whittle optimization, (b) Fresh rock open pit scenario: mining cost per tonne = CAD 5.30; processing cost = CAD 21.00; G&A = CAD 10.55, pit slope of 46.2 degrees used during Whittle optimization. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rate, mining cost, etc.)
- The number of metric tons was rounded to the nearest thousand and the metal contents are presented in troy ounces (tonne x grade / 31.10348). Any gap between the totals is due to the rounding effects. The rounding practices are in accordance with the recommendations established by the appendix 43-101A1.
- InnovExplo is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue not reported in this Technical Report that could materially affect the mineral resource estimate.
NEW EXPLORATION AND DRILLING CAMPAIGN
To follow up on the positive results from the 2017-2018 drilling, the 2018 MRE and InnovExplo’s recommendations, a drilling program has just begun on Nampala gold mineralized zones (Main, Intrusive, West, East and South) with the main objectives of upgrading Inferred resources into Indicated and potentially adding new Inferred resources. The new program plans an effort of approximately 20,000 metres of drilling comparatively to the 16,896 metres of the campaign that has just ended. This campaign will more than double the work done over the past year, will take place over the coming months with the goal of finishing fieldwork in 2018 and to obtain definitive results of complementary resources at the first quarter of 2019. The company will regularly communicate the results obtained (as one goes along).
At the scale of the entire property (Nampala exploitation permit and Mininko exploration permit), Robex undertakes regional exploration works along NNE-SSW oriented potential structures. The exploration works will be principally focus on follow-up on geochemical and geophysical anomalies and on mineralized intercepts coming from historical work and drilling.
QUALITY CONTROL AND QUALIFIED PERSON
The 2017-2018 drilling program was completed under strict quality assurance and quality control (QAQC) protocols and under InnovExplo’s qualified persons’ direct supervision on-site at Nampala (Mali). The geological and technical information contained in this press release have been validated by Alain Carrier, M.Sc., P.Geo., (OGQ #281) from the InnovExplo firm, also qualified and independent person under NI 43-101. The Technical Report supporting results in this press release which will be entitled “ NI 43-101 Technical Report and Mineral Resource Estimate for the Nampala Gold Mine, Nampala and Mininko Properties (Mali) ”, will be available incessantly and within the regulatory deadlines on SEDAR ( www.sedar.com ) and on the Company web site ( www.robexgold.com ).
STOCK OPTIONS GRANTING
The Company has granted 700,000 stock options to four employees at an exercise price of 0.115$. These options are valid for a period of 5 years.
Mr. Georges Cohen, Company’s CEO, declares :
“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 operations and, at the same time, implanted ultra-modern financial information systems. We are now approaching the development and expansion phase of the project, according to the re-engineered knowledge of our mineralized assets thanks to the new 43-101 technical report.”
FOR INFORMATIONS :
Augustin Rousselet, CFOO
Guillaume Emond, CPA, CMA, VP Admin
Head office: (581) 741-7421
This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Robex’s control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavourable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Robex. The forward-looking information is based on the estimates and opinions of Robex’s management at the time of the publication of the information and Robex does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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