Robex Resources Inc.: Announcement
QUEBEC CITY, QUEBEC -- (Marketwire) -- 07/07/11 -- Resources Robex Inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) announces that notwithstanding the precarious markets, the society wishes to seize this opportunity to reassure its shareholders that the company continues to make great strides towards moving to production stage for 2012, 2013.
The latest encouraging accomplishments (see press releases dated February 16, April 11 and June 29, 2011) is bringing Robex closer to the stated goals, particular the objective of developing the Nampala deposit into production. The society is confident that it will soon be able to deliver a revised resource calculation with a substantial increase.
To date, the required environmental and social impact studies, topographic survey and the hydrogeology studies necessary for the feasibility process all occurred without any complications. Metallurgical test work completed at SGS Lakefield confirmed the initial high recovery and low reagent consumption achieved in 2010 on the original samples. Ongoing additional testing is expected to improve recoveries further with an expectation of 92 % or better recovery (refer to press release dated February 16, 2011).
Furthermore, the drilling campaigns of reverse circulation of 13,000 meters and the 5,000 meters of diamond drilling yielded results above expectations (see press releases dated April 11, 2011 and June 29, 2011). The latest press release demonstrates mineralisation potential at depth with results of 97 meters at 1.20 g/t (Mn2011dd003) and 54 meters at 0.91 g/t (Mn2011dd007). The results from the latest drilling campaigns will be included in a revised resource calculation which is currently in progress.
Robex awaits impatiently the completion of the Nampala feasibility study by Bumigeme and Met-Chem. The study, which is progressing as scheduled, is defining the application modalities of an open-pit mining operation using a 5,000 tons a day cyanide processing plant.
Robex is the owner of:
-- The N'Golopene license, located in the extension of the gold anomaly of
the Syama mine (a producing mine of Resolute Mining Ltd. with a resource
of more than 6 M oz gold and a production of 77,926 oz in 2010);
-- The Nampala license, where a feasibility study is in progress with the
objective of defining a potential exploitation for an open pit and
milling facilities with cyanidation for 5,000 tpd;
-- The Wili-Wili and Wili-Wili West license which is characterized by a
strong geochem gold anomaly over 2.8 km by 0.6 km, and adjacent to
Iamgold's and Merex' Siribaya project;
-- The Sanoula license which is surrounded by Golde Rim with whom
preliminary discussions have been held for a potential JV, and
-- The Kolomba license which delivered interesting results in a previous
campaign and which is presently occupied by small miners.
Robex also owns two RC drills which provides the company with significant flexibility and reduced costs in the realisation of drilling campaigns. Robex has also the benefit of its own experienced team of drill operators and geologist on the ground in Mali.
For more details on other license held by Robex, visit our web site at:
The technical content of this release as well as the results which are set out have been checked by Jacques Marchand, Eng. Geo, geological engineer and an independent qualified individual.
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.
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.
Contacts:
Investor relations
Andre Gagne
President and CEO
418-527-5023
a.gagne@robexgold.com
Skype: andregagne11