Robex Resources inc./Nampala: Possible Expansion Towards the South
QUEBEC CITY, QUEBEC -- (Marketwire) -- 09/12/11 -- Robex Resources inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) announces the conclusion of a core drilling campaign with which a bore hole 300 meters south of the mineralised zone revealed a potential extension. This survey, totaling 100.5 meters, rendered an overall grading of 0.57 g/t over 100.5 meters including 1.45 g/t over 11 meters and 2.18 g/t over 4 meters (the following table(i) summarises the drilling results for bore hole Mn2011dd012, this link will direct to the detailed listing of the survey results:
http://www.robexgold.com/en/pdf/_forage_mn_dd_anglophone_(septembre_2011).pdf).
With this latest news, Andre Gagne, Robex's President and Chief Executive Officer, declared: 'We are very pleased with the prospective of increasing further the resources of the mineralised zone with this southern expansion'.
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Range
-------------------------- Average
From To Length grade
Bore number (m) (m) (m) (g/t)
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Mn2011dd012 0 100.5 100 0.57
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including 8 19 11 1.45
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including 42 49 7 0.86
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including 71 73 2 1.15
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including 77 83 6 1.33
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including 96 100 4 2.18
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A revised resource calculation is expected within a few days. The cumulative revised calculation will consist of the measured, indicated and inferred resources.
Furthermore, the feasibility study being conducted by Bumigeme is currently nearing completion with the drafting of the report whose purpose is to define the application modalities of an open-pit mining operation using 5,000 tons a day cyanide processing plant.
Status of Works at Diangounte
Robex is waiting for the laboratory results from the samplings of the 589 meters drilled during the present campaign as announced by a press release dated April 14, 2011. In order to initiate the drilling, Robex invested considerable efforts to refurbish the 35 km access road to the site. This road will also serve to facilitate the movement of local populations from Diangounte and surrounding villages, a win-win for Robex and the people of Mali.
Robex also completed an upgrade of the existing camp facilities and constructed additional buildings in order to accommodate the influx in personnel required for this campaign. An additional power generation plant was fitted to the camp from which electrical supply, on a cost reimbursement basis, will be made available to the neighbouring community. Finally, an outpost for the National Gendarmerie was constructed in order to stem the growing artisanal gold mining activities currently occurring. The drilling, which was halted due to the rainy-season, will resume once the weather has become more clement.
Status of Works at Wili-Wili
A total of 402 meters were drilled during the last RC campaign at Wili-Wili. The results from this campaign this campaign revealed a sampling of 6.47 g/t over one meter (WRC1002) while the remaining results were insignificant varying from 0.01 and 0.24 (this link will direct to the detailed listing of the results: http://robexgold.com/en/pdf/_drilling_results_on_wili.pdf). The resumption of the drilling campaign is set for 2012 following the geological analyses which concluded that the ground composition was more appropriate for core drilling operations.
Status of N'Golopene Joint Venture Agreement
Robex received a first installment of $100,000 as per the conditions set forth in the Farm-In and Joint Venture Agreement concluded with Resolute Mining (as per our press release dated July 20, 2011). 'We are very pleased by the working relationship established with Resolute Mining and remain hopeful at the thought of announcing the upcoming exploration works once they are defined' declares Andre Gagne, Robex's President and Chief Executive Officer.
For more details on these and other Robex permits, see: www.robexgold.com
(i)Samples were analysed by the ALS Mali sarl laboratory group following the FA / AA (fire assay / atomic absorption) method.
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/information:
Andre Gagne
President and Chief Executive Officer
418-527-5023
a.gagne@robexgold.com
Skype: andregagne11