Robex Resources Inc. Fourth Quarter 2019: New Production Progressing Very Well - Launch of an Ambitious Exploration Plan
QUEBEC CITY, Feb. 06, 2020 - Robex Resources Inc. (“Robex” and/or “the Company”) (TSXV: RBX / FWB: RB4) is pleased to announce strong results from the Nampala mine for the last quarter and full year of 2019. These results relate to production and sales. Moreover, high hopes are based on an ambitious exploration plan.
GOLD PRODUCTION UP SHARPLY
The 2019 fourth quarter attributable gold production of 17,361 ounces exceeded the production of the third quarter of 2019 (15,175 ounces). This new performance is due to improvements in grade (1.115 g/t vs. 1.051 g/t), recovery (89.8% vs. 87.7%) and the result of continuous improvement (539,128 tonnes processed vs. 512,378 tonnes processed).
The new main crusher (mineral sizer) has successfully met its objective of stabilizing plant availability by reducing blockages caused by coarse ore and we are planning to install a secondary crusher to further improve production.
Due to the steady improvement in results over 2019, higher-than-2018 attributable gold production of 55,685 ounces was achieved, compared to 46,278 ounces in 2018, representing a 20% increase.
The production data presented was validated by Antoine Berton Eng, Ph.D., a metallurgist at Soutex, a consulting firm in metallurgy and ore processing working on the Nampala site.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6643125d-e9d1-40a3-8104-4e04b2095049
The fourth quarter resulted in sales of 17,742 ounces compared to 13,275 ounces in the third quarter of 2019.
THE PRICE OF GOLD IS RISING
Like all gold mines, the Nampala mine has benefited from high gold prices, which over the last 6 months have been at their highest levels in 5 years.
Although the mine is located in the sub-Saharan region, the zone where we are located remains calm and has not been affected by security concerns.
EXPLORATION: A MAJOR BUDGET FOR 2020
All the factors above have enabled the decision to set aside a budget of CAD 13,800,000 for exploration in 2020:
- CAD 10,500,000 mainly allocated directly adjacent to the existing Nampala mine facilities; and
- CAD 3,300,000 has also been set aside for all our other permits.
This is accompanied by the increase in the exploration department’s equipment and staff; simultaneously we have increased the laboratory’s capacity.
We intend to maintain this endeavour for the years to come.
The main goal is to obtain additional reserves and resources.
In the context of the mobilization of additional resources at the Nampala deposit, Robex initiated a significant 171,990 m drilling program around the pit on the Nampala permit and the northern part of the Mininko permit.
The programme is divided into eight targets.
These targets were defined based on geophysical and geochemical data and take into account previous drilling and work.
Definition of target zones:
1. The Eastern Zone (ref.: ZE1 on the map):
This zone is located 220 m east of the current pit on a zone measuring 1,600 m long by 400 m wide. It is located on a geophysical resistivity structure that runs parallel to the main pit structure. This zone has been drilled during several campaigns in 2005, 2012, 2017 and 2018. These programs confirmed the mineral potential of the area.
Four minable pits have been identified on this target; however, the number of drill holes drilled thus far is insufficient compared to the zone area to make a resource assessment. It is, therefore, a question of completing the work carried out.
The present program on this target is a definition program that consists of tightening the mesh to 25x50 m in a staggered grid for a better definition of the mineralized contours to have a single pit on this target. To this end, 41,760 m of drilling has been planned. An Azimuth 110N and a -50° dip were chosen to intersect the mineralized zone perpendicularly.
2. The Eastern2 Zone (ref.: ZE2 on the map):
This zone is located 150 m from and parallel to the East zone for 2,000 m long by 250 m wide. This structure will be the subject of 16,650 m of drilling to test the zone’s gold mineralization potential.
3. The Southern Zone (ref.: ZS1 on the map):
Adjacent to the southern extension of the main pit, this zone is located on the same resistivity structure as the current pit. Its area measures 1,000 m long by 250 m wide. This zone was drilled in previous campaigns and has cleared mineralized areas.
The objective of this 14,400 m drilling campaign is to tighten the mesh to 50x50 m to extend the pit.
4. The Western Zone (ref.: ZW1 on the map):
Adjacent to the existing pit, this zone is located on the western extension of the main pit’s resistivity structure. This zone is 750 m long by 280 m wide. This zone was drilled in previous campaigns.
The objective of this program is to tighten the mesh to 25x50 m for a better definition of the mineralized contours. To this end, a 19,080 m drilling program has been planned.
5. The Cell 5 Zone (ref.: C5 on the map):
This zone will be the future tailings disposal area for the plant’s pulp discharge.
This program is a so-called “condemnation” program; it was initiated to avoid depositing our tailings on a potentially mineralized zone. To this end, a 21,870 m of drilling has been planned.
6. The Northwestern Zone (ref.: ZN1 on the map):
This zone is on the north extension of the main pit.
The objective of this program is to test the extension of this structure and its potential for gold mineralization. This zone is 1,750 m long by 500 m wide. To this end, a 19,080 m of drilling has been planned.
7. The North Zone (ref.: ZN2 on the map):
This zone is on the North extension of the East zone
The objective of this program is to test the extension of this structure and its potential for gold mineralization. This zone is 2,000 m long by 400 m wide. To this end, a 19,440 m of drilling has been planned.
8. The Northeastern Zone (ref.: ZN3 on the map):
This zone is on the North extension of the East2 zone.
The objective of this program is to test the extension of this structure and its potential for gold mineralization. This zone is 1,800 m long by 500 m wide. To this end, a 19,710 m of drilling has been planned.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/58597811-d76a-447c-b6d3-c7bd3d0a90f1
5 MILLION HOURS WITHOUT A WORK STOPPAGE ACCIDENT
Management’s focus on safety and employee awareness of the priority of workplace safety has enabled the Nampala mine to accumulate 5 million working hours, or the equivalent of 3 years without a work stoppage accident, which we are proud.
We continue the ongoing efforts on behalf of the populations neighbouring the mine.
The mine has just developed a new Community Development Plan, which is a document that outlines how the mine will help the surrounding communities. This plan was developed with the communities and will succeed the one that was fully implemented in compliance with the commitments made and that have been met.
Benjamin Cohen, CEO
Augustin Rousselet, CFO/COO
Head office: (581) 741-7421
This 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.