Robex Resources Inc.: New Production Record For the Nampala Mine
TSX VENTURE: RBX
QUÉBEC CITY, Aug. 09, 2019 (GLOBE NEWSWIRE) -- Robex Resources Inc. (“Robex” and/or “the Company”) (TSXV : RBX / FWB: RB4) announces a record-breaking second quarter attributable gold production of 12,089 ounces (376 kg), representing a monthly average greater than 4,030 ounces (125 kg). In July, the Nampala mine achieved 5,080 ounces (158 kg), its best monthly gold production.
The Company obtains its results through constant factory progression: Last July’s record was a triple success: a record production of tonnage with more than 167,000 tonnes of ore processed during the month, a feat in terms of recovery and a technical prowess that managed to significantly reduce the consumption of cyanide (monthly savings of $75,000).
The addition of a crusher by the end of August should allow the Nampala mine to continue this progression: Currently, the Company is in a good position to achieve its ambitious operational objectives that were set for 2019. For the first seven months, attributable gold production reached 28,228 ounces (878 kg), which represents more than 60% of the targeted 45,000 ounces (1,400 kg) for 2019.
Reported in the press release dated June 25, 2019, the Company officially files NI 43-101 Technical Report completed by Mario Boissé, P. Eng., and Denis Boivin, P. Geo., regarding the Mineral Resource and Mineral Reserve Estimates for the Nampala mine. The Technical Report in conformity with the National Instrument 43-101 entitled “NI 43-101 Technical Report, Mineral Resource and Mineral Reserve Estimates for the Nampala Gold Mine” (“the Technical Report”) was prepared by Mario Boissé, P. Eng., and Denis Boivin, P. Geo. All are considered "Qualified Persons" as defined by NI 43-101. The Technical Report has an effective date of May 1, 2019 and a signature date of August 1, 2019.
As a reminder, the Mineral Reserve Estimate (2019MR) reported 180,000 ounces of reserves solely in oxide as of May 1, or 7,719,000 tonnes at a 0.73 g/t grade with a 2.76 stripping ratio, which currently corresponds to approximately a four and half year service life. The Mineral Resources (2019MRE) are encouraging, but require additional work in the upcoming months to reduce uncertainties and qualify part of this mineral reserve.
THE EXPLORATION AND DRILLING CAMPAIGN WILL RESUME:
A new exploration and dynamic drilling campaign will begin as soon as Mali’s rainy season comes to an end in October as a follow-up on the positive drilling results of 2018-2019, the new Mineral Resources Estimate (2019MRE) and the new Mineral Reserve Estimate (2019MR). The 2019-2020 exploration and drilling program is currently being developed. As recommended in the Technical Report, the Company is anticipating efforts targeting new drilling sites surrounding the seven identified pits for the exploitation of mineral reserves to connect smaller pits in the eastern, southern and western gold zones of the main Nampala pit. A major effort is also being made internally to structure and strengthen a Malian technical team.
Robex Resources Inc.
Benjamin Cohen, CEO
Augustin Rousselet, CFO/COO
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 that 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.