(Ecofin Agency) - Kobada, a key project in Mali, is set to increase the country's gold output in the coming years. Initially projected to deliver 1.2 million ounces over 16 years according to a 2021 study, recent exploration results suggest even higher potential

As of July 2, Toubani Resources announced a 30% increase in indicated mineral resources at the Kobada gold project compared to the 2023 estimate. The project now hosts 2 million ounces of gold in indicated mineral resources.

The updated figures were derived from data obtained this year, including 120 reverse circulation drill holes and 39 diamond drill holes completed in 2020 that were previously unusable. This new estimate will be included in the updated feasibility study due in September. Current forecasts still show Kobada delivering 1.2 million ounces over 16 years.

Mali, Africa's third-largest gold producer, can maintain and potentially enhance its status with untapped deposits like Kobada. The increased resources at Kobada confirm the project's potential to boost Mali's gold production in the coming years.