Robex Resources Inc./Nampala: Initial Diamond Drilling Results Show Grades of 97 Meters at 1.20 g/t Compared with RC Drilling of 97 Meters at 1.08 g/t
QUEBEC, QUEBEC -- (Marketwire) -- 05/26/11 -- Ressources Robex Inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) announces the preliminary results of its diamond drilling campaign, the purpose of which was to complement the RC surveys previously carried out in order to confirm the grades and increase the deposit's resource. Overall, these surveys depict grades of 1% to 20% higher than those obtained previously. The diamond drilling results obtained to date show an increase, including 97 meters at 1.20 g/t compared with RC drilling of 97 meters at 1.08 g/t between 11 and 107 meters (Mn2011DD003 Vs Mn2004ac521). 'These are very good results and there's a good correlation of values considering the survey type and especially the precise level of the sections that were sampled', explains Andre Gagne, Robex's president and chief executive officer.
The campaign initially anticipated approximately 2,000 meters of diamond drilling, however in the wake of the 1.5 million financing that it recently received (see press release dated May 3, 2001), Robex decided to increase the drillings to 5,000 meters. The latter should serve to increase the deposit's inferred resource, as estimated in the Coffey Mining's report #43-101, as well as meeting the expectations of the financial institutions with which Robex has had discussions concerning the financing of its potential mining infrastructures. To date, 4,200 meters of the anticipated 5,000 meters have been drilled. The results obtained during this campaign will be added to those obtained during previous campaigns and will be included in the new resource calculation. It should be noted that a total of 57,561 meters have been drilled at Nampala so far.
Recalling that Bumigeme Inc., a Canadian company with a vast experience in the development of dressing procedures and mineral plants operation, has been awarded the contract for performing the Nampala project feasibility study whose purpose is to define the application modalities of an open-pit mining operation using a 5,000 tons a day cyanide processing plant. The metallurgical tests, recently conducted on the ore, showed high recoveries and low reagent consumption (see press release of February 16, 2011). The engineering firm Met-Chem has been hired to develop the mine plan for this Feasibility study, as announced in the March 2nd, 2011 press release.
The technical content of this release as well as the results which are set out have been checked by Jacques Marchand, P.Eng. P.Geo,geological engineer and an independent qualified individual.
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 Inc.'s ('Robex') control. The actual results or conclusions may differ considerably from those which 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, unfavorable 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 the regulatory service provider (as the term is defined in TSX Venture Exchange's policies) accepts any liability of any kind as to the authenticity or accuracy of this release.
Contacts:
Investor relations
Andre Gagne
President and Chief Executive Officer
418-527-5023
a.gagne@robexgold.com
Skype: andregagne11