Robex Resources Inc.: With 391,000 Ounces of Probable Mineral Reserves, Robex Expects a Mine Life of Nearly 9 Years for Nampala
QUEBEC CITY, Oct. 25, 2020 (GLOBE NEWSWIRE) — Robex Resources Inc. (“Robex” or “the Company”) (TSXV: RBX/FWB: RB4) announces that it has filed with SEDAR the technical report titled “NI 43-101 Technical Report, Mineral Resource and Mineral Reserve Estimates for the Nampala Gold Mine (2020)” signed and dated October 23, 2020.
The latest Mineral Resource Estimate (2020 MRE) and the Mineral Reserve Estimate (2020 MR) are summarized in the next paragraphs. They required an update for the following motives:The Nampala Phase 4, containing 410 drill holes, added a total of 34,998 m to the geological database. These drill holes were mainly drilled east of the current open pit.The price of gold has increased significantly in the last year. The last Mineral Resource Estimate (2019 MRE) used a price of gold of USD 1250/oz. This value was increased to USD 1700/oz. for the 2020 MRE and to USD 1500/oz. for the 2020 MR.The density model was updated to take into account the results from the mine-to-mill mass balance completed in 2020.Mineralized material contained in the Upper Transition weathering horizon was metallurgically tested in 2019-2020. The average tests returned some suitable recovery rates of 86.8% and 88.0% for two sampled populations.Mineral Resource Estimate (2020 MRE):On July 31, 2020, the Mineral Resource in the Indicated category was estimated at 37,887,000 t at a grade of 0.71 g/t Au and a metal content of 869 000 oz. of gold. The Mineral Resource in the Inferred category was estimated at 2,989,000 t at a grade of 0.69 g/t Au and a metal content of 66 000 oz. of gold (Table 1). The presented Mineral Resource includes the Mineral Reserve.Table 1: Mineral Resource Estimate (2020 MRE)Notes regarding Table 1:Table 2: Input parameters used for cut-off grade estimate
Mineral Reserve Estimate (2020 MR):
On July 31, 2020, the Mineral Reserve was estimated at 17,147,000 t of oxidized ore and Upper Transition with a metal content of 391 000 oz. of gold (Table 3). The average grade was 0.71 g/t using a cut-off of 0.28 g/t in the Oxide and 0.31 g/t in the Upper Transition. The Mineral Reserve estimate (2020 MR) presents a LOM of almost 9 years.Table 3: Nampala mine Probable Mineral ReserveNotes regarding Table 3:Table 4: Input parameters used for cut-off grade estimate
Denis Boivin, P.Geo., on-site consulting geologist, is the qualified and independent person under NI 43-101 who has reviewed and approved the disclosure of the geological information contained in this press release.Benjamin Cohen says “I would like to thank the technical teams who have done an unbelievable job in particularly difficult conditions with Covid-19 and a terrible rainy season that has caused delays.We are very pleased with these first results for our shareholders, employees and village communities because the horizon has been pushed back.The exploration work continues very intensely; we are confident about the future; we are awaiting results for the southern and western areas in particular.The work carried out has already allowed us to open a second pit that will provide a second source of ore to stabilize the production grade.Restoring a satisfactory mine life was one of our main objectives, this creates value and confidence to find more gold in the near future.”About ROBEXRobex Resources Inc. is a Canadian mining company operating in gold production and exploration in West Africa. The Company operates the Nampala mine in Mali, which reached the commercial production stage on January 1, 2017.For information:Robex Resources Inc.Benjamin Cohen, CEO
Augustin Rousselet, CFO/COO
Head office: (581) 741-7421
email@example.comThis news release contains statements that may be considered “forecast information” or “forecast statements” in terms of security rights. These forecasts are subject to uncertainties and risks, some of which are beyond the control of Robex. Achievements and final results may differ significantly from forecasts made implicitly or explicitly. These differences can be attributed to many factors, including market volatility, the impact of the exchange rate and interest rate fluctuations, mispricing, the environment (hardening of regulations), unforeseen geological situations, unfavourable operating conditions, political risks inherent in mining in developing countries, changes in government policies or regulations (laws and policies), an inability to obtain necessary permits and approvals from government agencies, or any other risk associated with mining and development. There can be no assurance that the circumstances set out in these forecasts will occur, or even benefit Robex, if any. The forecasts are based on the estimates and opinions of the Robex management team at the time of publication. Robex makes no commitment to make any updates or changes to these publicly available forecasts based on new information or events, or for any other reason, except as required by applicable security laws. The TSX Venture Exchange or the Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) assumes no responsibility for the authenticity or accuracy of this news release.