Robex Resources Inc./Nampala: Drilling Begins to Investigate Extension to the South
QUEBEC CITY, QUEBEC -- (Marketwire) -- 12/07/11 -- Robex Resources Inc. (TSX VENTURE: RBX)(FRANKFURT: RB4) announces that it has resumed drilling to the south of Lens 100 on its Mininko permit in Mali. The drilling campaign will investigate a 2.4-kilometre geochemical anomaly, which is an extension to the south of the existing Nampala resource.
In September 2011, a diamond drilling campaign over 300 metres to the south of the mineralized zone (see press release dated September 12, 2011) indicated a possible opening to the south. The campaign, totalling 100.5 metres, revealed an overall grade of 0.57 g/t, including 11 metres at 1.45 g/t and 4 metres at 2.18 g/t. The extension to the south of the mineralized zone could allow an increase in the resource within the oxidized zone, for which a feasibility study demonstrating the economic viability of an open pit mine was recently completed (see press release dated November 8, 2011). This study revealed a pre-tax net present value (NPV) of $113.6 million at $1,250 gold price per ounce and an internal rate of return (IRR) of 46.45%.
The drilling campaign, which comprises a total of 35 boreholes of approximately 100 metres in length, began Friday, December 2, with ten boreholes for a total of 900 metres now completed. The planned drilling will have a 90-degree azimuth at a 50-degree plunge. The survey points are staggered over a 200-metre mesh and include a fifth borehole located at the centre of the mesh.
For more information about the Nampala deposit and to access the corporate presentation, please visit:
The resources information of this release as well as the results set out have been verified by Jacques Marchand, P.Eng. P.Geo, and an independent Qualified Person.
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 that 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:
Andre Gagne
President and Chief Executive Officer
418-527-5023
a.gagne@robexgold.com
Skype: andregagne11
Media contact:
Frederic Berard
Vice President
HKDP Communications and Public Affairs
514 395-0375, extension 259