Robex Resources Inc. Announces Positive Drilling Results at Mansounia Extending Strike to 5km

QUÉBEC CITY, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Robex Resources Inc. (TSXV: RBX) ("Robex” or the "Company”) is pleased to announce the completion of the first phase of Mineral Resource delineation drilling at the Mansounia Central deposit. The Mansounia Central deposit is approximately 3km south of the new Kiniero processing plant at the Kiniero Project in Guinea, West Africa.

Highlighted intercepts include:

• MRC23-038: 16m @ 8.06g/t Au from 27m
• MRC23-091: 10m @ 4.91g/t Au from 52m
• MRC23-080: 25m @ 3.61g/t Au from 18m
• MRC23-113: 12m @ 2.89g/t Au from 10m
• MRC23-033: 13m @2.21g/t Au from 46m
  

Robex completed an extensive 147 drillhole deposit delineation drilling programme in September 2023 at Mansounia Central following the completion of an extensive bulk leach extractable Gold (BLEG) in soil geochemistry campaign across the Mansounia license area. The BLEG geochemical signature confirmed that the Mansounia Central and Mansounia South deposits represent major exploration targets within the much larger shear mineralised "Sabali-Mansounia” Corridor. This corridor hosts the neighbouring Sabali South deposit (announced 24 May 2022) drilled out by Robex and now forms an integral part of the Kiniero Project restart.

Robex’s 2023 exploration drilling programme at Mansounia Central was further designed to verify the reliability of the historic drillholes. The Mansounia Central deposit had been historically drilled RAB scout drilling, 2003 to 2005 and RC and DD drilling, 2005 to 2012. Robex’s initial reconnaissance drilling in 2022 yielded significant near-surface gold intersects and verified the historic drilling (announced November 28, 2022).

The campaign commenced in April 2023 and finished in September 2023 with 147 drillholes totalling 23,310m completed using RC drilling techniques primarily on a 100m x 50m drilling grid, complimented by additional reconnaissance drilling. Results have been highly encouraging, confirming the extensive presence of a well-developed upper supergene low-grade gold deposit, typically within the upper 30m to 50m, as observed from the reconnaissance drilling.

Results returned from delineation RC drilling campaign at the Mansounia Central deposit have further confirmed the following:

• The accuracy and reliability of the historical data;
• The relationship between the BLEG gold-in-soil and the airborne magnetics, intrusives, the inferred alteration footprint and the underlying confirmed structures;
• A wide, deep, and continuous low-grade supergene gold mineralisation deposit across the Sabali-Mansounia Corridor;
• The Mansounia Central deposits represent a strategic near-plant (~3.5km), near-surface oxide and fresh rock target for infill drilling to convert to Mineral Reserves for consideration in the mining schedule of the Kiniero Gold Mine; and
• Mansounia Central remains open along strike south into Mansounia South and north toward Sabali South, where it is evident that the two deposits could become a single drilled-out domain to form a single larger open pit.
  

Infill drilling is expected to commence at Mansounia Central in early 2024 to update the Mineral Resource estimate. The planned drilling will also include reconnaissance strike extension drilling to the south, into the Mansounia South deposit. With the addition of Mansounia, the total strike extension is approximately 5km from Sabali North to Mansounia Central. This is a significant opportunity to add economic near-surface oxide ounces to the Project.

Figure 1: An overview of the Kiniero Mining area, highlighting the proximity of Mansounia Central to the plant, as well as the extensive (~5km) strike length from the southern section of Mansounia Central to the north of Sabali North.

Figure 2: Plan map of Mansounia Central indicating completed drilling programs by Burey Gold (historical), Goldfields (historical) and Sycamore Mine Guinee (SMG) (Robex). Larger, black-rimmed RC drill holes show the location of the recently completed 100m x 50m drilling program.

Figure 3: Cross sections A-B and C-D indicating downhole significant intercepts (0.2g/t Au and 0.8g/t Au) and the preliminary mineralised envelope.

Aurelien Bonneviot, President and CEO: "We are pleased to see Mansounia drill delivering positive results. We are refining the interpretation of the DFS done by previous owners in 2004 and with more drilling in Q4 2023 and Q1 2024 we will be able to improve our modelling for which Robex intends to prepare an Updated Mineral Resources Report in Q1 2024. These encouraging results will allow us to increase the oxide ratio into the plant and therefore increase the plant throughput as highlighted in our DFS.”

Qualified Person

The technical disclosures contained in this press release have been reviewed and approved by Dan Tucker, BSc CEng FAusIMM (CP Geo), a Qualified Person pursuant to NI 43-101. Mr Tucker is the Chief Mining Engineer of Robex and, as such, is not independent within the meaning of NI 43-101.

About Robex Resources Inc.

Robex is a multi-jurisdictional West African gold production and development company with near-term exploration potential. The Company is dedicated to safe, diverse and responsible operations in the countries in which it operates with a goal to foster sustainable growth. The Company has been operating the Nampala mine in Mali since 2017 and is advancing the Kiniero Gold Project in Guinea.

Robex is supported by two strategic shareholders and has the ambition to become a-tier gold producers in West Africa.

More Information

Certain information set forth in this news release contains "forward-looking statements” and "forward-looking information” within the meaning of applicable Canadian securities legislation (referred to herein as forward-looking statements). Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which includes, but is not limited to, statements with respect to: the potential development and exploitation of the Mansounia Central Deposit or the Kiniero Project and the Company’s existing mineral properties and business plan, including the completion of feasibility studies or the making of production decisions in respect thereof; the future financial or operating performance of the Company, the Mansounia Central Deposit and the Kiniero Project; results from work performed to date; the realization of mineral resource and mineral reserve estimates; the development, operational and economic results of any prefeasibility study that may be undertaken or not for the the Mansounia Central Deposit, including cash flows, revenue potential, potential for staged development, capital expenditures, development costs and timing thereof, extraction rates, life of mine projections and cost estimates; magnitude or quality of mineral deposits; anticipated advancement of the Kiniero Project including mine plan; exploration expenditures, costs and timing of the development of new deposits; exploration potential and opportunities at the Mansounia Central Deposit; costs and timing of future exploration; the completion and timing of future development studies; estimates of metallurgical recovery rates; anticipated advancement of the Mansounia Central Deposit , the Kiniero Project and future exploration prospects; requirements for additional capital; the future price of metals; government regulation of mining operations; environmental risks; the timing and possible outcome of pending regulatory matters; the realization of the expected economics of the Mansounia Central Deposit and the Kiniero Project; and future growth potential of the Mansounia Central Deposit. Forward-looking statements are often identified by the use of words such as "may”, "will”, "could”, "would”, "anticipate”, ‘believe”, expect”, "intend”, "potential”, "estimate”, "budget”, "scheduled”, "plans”, "planned”, "forecasts”, "goals” and similar expressions. Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such information is provided. Assumptions and factors include: the Company’s ability to complete its planned exploration programs; the absence of adverse conditions at the Kiniero Project or the Mansounia Central Deposit; no unforeseen operational delays; no material delays in obtaining necessary permits; the price of gold remaining at levels that render the Mansounia Central Deposit and the Kiniero Project economic; the Company’s ability to continue raising necessary capital to finance operations and reimburse short-term liabilities; and the ability to realize on the mineral resource and mineral reserve estimates. Forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current and future exploration activities; geopolitical risk, political risks inherent to mining in developing countries, conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; the impact of COVID-19 on the timing of exploration and development work and management’s ability to anticipate and manage the foregoing factors and risks. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in the Company’s disclosure documents for a more complete discussion of such risk factors and their potential effects, which may be accessed through the Company's profile on SEDAR at www.sedar.com.

There can be no assurance that forward-looking statements will prove to be accurate, or even benefit Robex, if any, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The forward-looking statements contained herein are presented for the purposes of assisting investors in understanding the Company’s plan, objectives and goals and may not be appropriate for other purposes. Forward-looking statements are not guarantees of future performance and the reader is cautioned not to place undue reliance on forward-looking statements.

Please refer to the "Risk Factors” section of the Company’s annual information form for the year ended December 31, 2022, dated April 28, 2023, and to the "Risks and Uncertainties” section of each of the Company’s management’s discussion and analysis dated April 28, 2023 for the years ended December 31, 2022 and December 31, 2021, and the Company’s management’s discussion and analysis dated August 28, 2023 for the six-month periods ended June 30, 2023 and June 30, 2022, all of which are available electronically on SEDAR at www.sedar.com. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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