The initiative encompasses 60,000 meters of reverse circulation (RC) drilling and 40,000 meters of air core drilling.
Toubani Resources has outlined plans to complete up to 100,000 meters of drilling at the Kobada Gold Project, located in southern Mali. The project features 2.2 million ounces (moz) of mineral resources across a 4.5-kilometer strike length, predominantly comprised of oxide material amenable to open-pit mining methods.
This program includes 60,000 meters of RC drilling aimed at expanding the current resource base, alongside 40,000 meters of air core drilling designed to test regional exploration targets. Additionally, the programme incorporates further diamond core drilling to evaluate high-grade mineralisation beneath the Kobada deposit and other identified targets.
Kobada’s current mineral resource estimate (MRE) will be updated with the results from these recent drilling campaigns, anticipated in the first half of 2026 (H1 2026). Recent diamond drilling efforts have identified high-grade mineralised zones both below and outside the boundaries of the existing estimate, with significant intersections such as 1 meter at 116 grams per tonne (g/t) gold, 1.7 meters at 97.4g/t gold, 1.3 meters at 13.6g/t gold, and 2.3 meters at 11.7g/t gold.
Toubani is actively reviewing drilling results to delineate targets for further evaluation of fresh rock mineralisation within the Kobada area. New near-surface oxide mineralisation zones have been discovered beyond the current MRE, including notable results of 7 meters at 9.43g/t gold, with an interval of 1 meter at 55.2g/t gold.
RC drilling outcomes have supported the confirmation of infrastructure layouts ahead of the forthcoming environmental permit issuance for Kobada. Further RC drilling results are expected in the coming weeks, with continuous updates scheduled throughout 2026.
Toubani Managing Director Phil Russo commented: “Following the establishment of a substantial near-surface oxide gold MRE in 2024—primarily classified within the high-confidence Indicated category—we have now generated new drill intersections that will be included in the upcoming MRE update. This is expected to grow our oxide ounces while adding additional fresh inventory. I am confident this will mark the beginning of several increases to the Kobada MRE as we pursue an intensive, systematic exploration programme across our regional prospects and test the 50 kilometers of known mineralised structures at Kobada.”
In October 2025, Toubani secured a A$395 million ($258 million) funding package to fully support the construction of the Kobada Gold Project.