Mr. Benjamin Cohen reports
ROBEX RESOURCES INC.: NEW SPECIAL DIVIDEND OF 4 CENTS PER SHARE AND DOUBLE INDICATED RESOURCES
Robex Resources Inc. has published a progress report on its current exploration campaign.
Progress of the current campaign
Robex announced the execution in 2020 of an important exploration campaign on the Nampala site. This campaign's operations targeting eight zones, including three for definition, three for exploration and two for condemnation, have been delayed this year due to the COVID-19 pandemic and the significant rainy season.
For this campaign, three drills were planned full time, but seven drills will now be put into operation on site to make up for the delay. Consequently, the company's objective of completing the campaign by the end of the year or early in 2021 should be maintained.
A total of 41,280 metres of drilling have already been completed as of Sept. 5, 2020.
Reconciliation work
Robex started reconciliation work on all pit operations since the start of production in January, 2017. The purpose of this work is to refine mineralization knowledge in addition to the information collected from previous drilling campaigns and the National Instrument 43-101 that followed.
This work, carried out on the six million tonnes of processed mineralized material, has allowed the company to:
-
Refine the density model and validate the pit operating procedures. Indeed, before each excavation, additional channel sampling is conducted to increase the grade measurement accuracy;
-
Following the installation of a main crusher on Aug. 1, 2019, the company processed 258,443 tonnes of mineralized material located in the Transition zone of the main pit. Initially, this ore was classified as a resource due to the lack of metallurgical testing in this zone. These encouraging results require further testing before the company can determine whether all or part of the transition can be added to its reserves;
-
Given low production costs and the geological model, very low-grade mineralized material was processed cost-effectively during the confinement period. Consequently, the operational cut-off grade has been reduced from 0.38 gram per tonne to 0.25 g/t. The excavated low grades are stored near the ROM (run of mine) pad.
Exploration campaign -- interim results
The ZE1 zone located east of the main pit is completed. The "Interim results" table includes several intersections from the current campaign.
Grade Length True
Name of hole From To (g/t Au) (in m) width (in m)
NAM2020AC-582 35 55 2.73 20 17.2
NAM2020RC-317 17 47 1.65 30 26.0
NAM2020AC-440 16 33 2.58 17 14.7
NAM2020RC-304 1 24 1.69 23 19.9
NAM2020AC-583 55 70 2.04 15 13.0
NAM2020AC-353 15 36 1.42 21 17.9
NAM2020AC-436 60 84 1.22 24 20.8
NAM2020AC-372 24 48 1.09 24 20.7
NAM2020AC-516 63 78 1.71 15 13.0
NAM2020AC-356 0 23 1.04 23 19.9
NAM2020AC-434 8 29 1.12 21 18.2
NAM2020AC-452 47 66 1.23 19 16.5
NAM2020AC-380 49 62 1.75 13 11.3
NAM2020AC-577 72 86 1.60 14 12.1
NAM2020RC-324 74 84 2.34 10 8.2
NAM2020AC-439 33 54 0.99 21 18.2
NAM2020AC-458 39 47 2.53 8 6.9
NAM2020RC-315 47 67 0.92 20 17.0
NAM2020AC-477 9 30 0.85 21 18.2
NAM2020AC-411 65 79 1.28 14 11.8
NAM2020AC-436 28 43 1.15 15 13.0
NAM2020AC-474 59 80 0.81 21 18.2
NAM2020AC-422 44 56 1.42 12 10.2
NAM2020AC-414 20 40 0.84 20 17.2
NAM2020AC-124 7 3 14 1.52 11 9.5
NAM2020AC-458 77 86 1.84 9 7.8
NAM2020AC-473 43 57 1.18 14 12.1
NAM2020AC-352 26 33 2.31 7 6.1
NAM2020RC-305 2 9 2.25 7 6.1
NAM2020AC-503 59 72 1.20 13 11.3
NAM2020RC-316 54 76 0.69 22 19.0
NAM2020AC-124 6 6 13 2.16 7 6.0
NAM2020AC-356 33 40 2.10 7 6.0
NAM2020AC-432 33 51 0.81 18 15.6
NAM2020AC-459 32 48 0.87 16 13.9
NAM2020AC-372 58 72 0.99 14 12.1
NAM2020RC-341 50 58 1.70 8 6.8
NAM2020AC-432 52 65 1.02 13 11.3
NAM2020AC-399 36 50 0.91 14 12.0
NAM2020RC-322 46 56 1.31 10 8.4
NAM2020AC-375 40 53 0.98 13 11.1
NAM2020AC-500 78 90 1.04 12 10.4
NAM2020AC-441 9 19 1.24 10 8.7
NAM2020AC-505 12 18 2.06 6 5.2
NAM2020AC-438 74 84 1.19 10 8.7
NAM2020AC-436 45 56 1.06 11 9.5
NAM2020RC-318 28 35 1.64 7 6.0
NAM2020AC-497 70 74 2.70 4 3.5
NAM2020AC-497 17 29 0.90 12 10.4
NAM2020AC-463 25 31 1.79 6 5.2
NAM2020AC-486 7 22 0.71 15 13.0
NAM2020AC-414 41 50 1.18 9 7.7
NAM2020AC-453 43 54 0.96 11 9.5
The resource update is performed taking into account:
-
28,346 samples received from the drilling campaign carried out on the ZE1 zone;
-
Reconciliation work that enabled the company to refine the density model;
-
A recent increase in the price of gold and the control of production costs at the Nampala mine.
This allows the company to establish an increase of 103 per cent in indicated resources for the Nampala property bringing the total to 869,000 ounces compared with the last mineral resources estimate (MRE2019). The company will file an independent technical report to support the updated mineral resource within 45 days of this press release.
NAMPALA MINERAL RESOURCES (MRE2020)
(in thousands of ounces)
Cut-off Weathering Density Tonnage Grade Metal content
Category Au (g/t) type (t/m3) (000s t) Au (g/t) Au (000s oz)
Indicated 0.25 Oxide 1.80 21,422 0.63 435
0.33 Transition 2.36 6,158 0.82 163
0.31 Fresh rock 2.79 10,307 0.82 271
Subtotal 37,887 0.71 869
Inferred 0.25 Oxide 1.77 542 0.55 10
0.33 Transition 2.47 213 0.71 5
0.31 Fresh rock 2.79 2,235 0.72 52
Subtotal 2,989 0.69 66
Total 2.10 40,876 0.71 936
Notes regarding the table
(1) The independent and qualified person for the mineral resource estimate, as defined by NI
43-101, is Denis Boivin, BSc, Geo (OGQ No. 816), and Mario Boisse, mining eng. (OIQ No.
130715), and the effective date of the estimate is July 31, 2020.
(2) The mineral resource is not a mineral reserve as it has not demonstrated economic viability.
Further metallurgical testing is required to analyze the economic potential of the mineral
resource found in the transition and fresh rock zones.
(3) The mineral resource estimate follows the 2014 CIM definitions and guidelines.
(4) Results are presented on site and undiluted for the open-pit scenario and are considered to
have reasonable prospects for profitable mining.
(5) In terms of classification: the distance to the closest (composite) point (DCP) must be less
than or equal to 30 metres to be considered an indicated resource. The inferred resource is
at a distance greater than 30 metres and less than 100 metres.
(6) Grade interpolation was performed on the Nampala mining permit from two-metre drill composites
using the grade of the material assayed and clipped at 15 g/t Au. The grade model was
interpolated according to the structural patterns of the mineralized zones using the Leapfrog
Geo v5.1.0 software radial basis function (RBF) method and assessed in a model pointed at
20 degrees north with blocks of the same size (five m by 15 m by five m). On-site densities
were interpolated using the respective oxidation levels.
(7) The mineral resource is contained within an economic envelope built with the MineSight --
project evaluator V1.0.4.3902 Lerch-Grossman optimization tool. Only the indicated resource is
taken into account to generate the economic envelope. The "Economic parameters" table provides
the economic parameters used used in the optimization.
ECONOMIC PARAMETERS
MRE2020
Description UOM Oxide Transition Fresh rock
Gold price $U.S./oz $1,700 $1,700 $1,700
Mining costs $U.S./t mined 2.08 2.51 2.65
General and administrative costs $U.S./t milled 2.48 2.48 2.48
CIL (processing, refining and selling) $U.S./t milled 9.31 10.24
Heap leach (processing, refining and selling) $U.S./t milled 9.19
Mill recovery % 88.9 71.9
Heap leach recovery % 70.0
(1) The slope of the economic envelope is set to 45 degrees.
(2) The number of metric tonnes has been rounded to the nearest thousand and the metal grade is
presented in troy ounces (tonne multiplied by grade divided by 31.10348). Any discrepancies
between totals are due to rounding effects. Rounding practices comply with the recommendations
outlined in Form 43-101A1.
(3) Except for the current political instability in Mali, Denis Boivin, PGeo, and Mario Boisse, Eng,
are not aware of any environmental, permits, legal, title-related, fiscal, socio-political or
marketing issues, or any other relevant issues that could have a significant impact on the
mineral resource estimate.
Denis Boivin, PGeo, on-site consulting geologist, is the qualified and independent person under National Instrument 43-101 who has reviewed and approved the disclosure of the geological information contained in this press release.
Special dividend
Considering the company's financial results, the board of directors has announced a special dividend of four cents to be paid on Sept. 25, 2020, for each issued and outstanding common share listed at market close on Sept. 16, 2020.
A word from the president, Georges Cohen:
"These initial exploration results are significant, very satisfactory and encouraging for the future of this exploration program.
"This allows us to anticipate a considerable extension of the mine's life, the results of which we will confirm when we publish an estimate of mineral reserves at year-end.
"Having a second confirmed pit is the first solid result of this exploration campaign.
"The current cash position and prospects allow us to distribute a second special dividend of four cents, bringing the dividend distribution to six cents per share as of January, 2020."
We seek Safe Harbor.
© 2026 Canjex Publishing Ltd. All rights reserved.