Robex Resources Inc.
TSX VENTURE : RBX
FRANKFURT : RB4

Robex Resources Inc.

April 14, 2011 09:45 ET

The Discovery of a New Gold Zone on the Diangounte Property and Previous Exploration Which Encountered up to 100gpt Over 3 Meters, Encourages ROBEX to Proceed With a New Drilling Campaign

QUEBEC CITY, QUEBEC--(Marketwire - April 14, 2011) - Robex resources inc. (TSX VENTURE:RBX) (FRANKFURT:RB4) announces that Mr. Jacques Marchand P.Eng, P.Geo, an independent qualified person under 43-101 as well as Mr. Abdel Kader Maiga, director of operations for Robex, have discovered on the Diangounte permit a new zone unidentified to date in Robex mapping records which regroups six veins of mineralised quartz presently exploited by artisanal miners. These new veins are found within a geochemical anomaly which extends over a circular area covering eight square km, expanding the exploitable area discovered by Robex in early 2000. The drill results from this period revealed results of up to 100gpt over three meters. All of these factors have resulted in a commitment to drill 20,000 meters of reverse circulation on the existing license for Diangounte.

The objective of the drilling campaign is to discover large gold structures and increase our knowledge of the mineralisation and veins which correspond with the geochemical anomalies. The drill orientation will have a 200 degree azimuth, a length of 120 meters at a -50 degree plunge. A preliminary feasibility realised in 2002 on the alluvial placer of La Corne had not resulted in further works in 2002 due to the low gold prices at the time. The exploitation permit had been issued nonetheless and the original environmental study completed.

It is on the basis of a geochemical anomaly that the license for Diangounte was acquired by Robex in October of 1996 and cover an area of 52.14 square Km. The Diangounte license is located West of the Kenieba Valley near the border with Senegal. This area has recently seen a few developments such as Sadiola, Morilla and the discoveries of Loulo, Tabakoto, Segala and Yatela. The geochemical anomaly in the area is similar to those which led amongst others to the discovery of the Sadiola deposit about 30 km to the North-East.

In May 2006, a total of 2,073 meters of RC were completed in 24 holes on the La Corne placer. These were drilled over four sections spaced 200 meters in between where artisanal miners were active. Mineralisation observed in pits dug by these artisanal miners was confirmed at depth by the drilling.

Some sections with more than one gpt were cut with the best measuring 24.8 gpt over six meters from 27 to 33 meters (bore hole DIR097). These drill holes intersected veins of quartz associated to narrow corridors in a South-West direction cut by faults of sub-vertical orientation. The rocks show an intense silicified and sericitized along with mineralised structure associated to minerals such as pyrite and chalcopyrite.

Robex is also:

  • The N'Golopene permit, located directly on the extension of the gold anomaly at the Syama mine (gold producing property owned by Resolute Mining Ltd., which contains over 6 million ounces of gold and produced 77,926 ounces in 2010);
  • The Nampala license, where a feasibility 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 Diangounté permit, located only a few kilometers from the Sadiola and Yatela mines (property owned by IAMGOLD and AngloGold Ashanti, which contains 8.5 million ounces of gold and produced 178,000 ounces in 2010);
  • The Wili‐Wili and Wili‐Wili West permits, characterised by a large gold‐bearing dispersion 2.8 km by 600 m wide and immediately adjacent to the Siribaya project owned by IAMGOLD and Merrex;
  • The Sanoula permit, surrounded by Golden Rim permits, with which discussions are in progress concerning an eventual joint venture, and
  • The Kolomba permit, which produced good results in earlier campaigns and is currently overrun with artisanal panners.

In addition, Robex also owns two RC drills which provide the company with significant flexibility and substantially reduced costs in the realisation of RC drilling campaigns. Robex has also the benefit of its own 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: www.robexgold.com

The technical content of this release as well as the results which are set out have been checked by Jacques Marchand, P.Eng. P.Geo,geological engineer and an independent qualified individual.

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.

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.

Contact Information

  • Investor relations:
    Andre Gagne
    President and Chief Executive Officer
    418-527-5023
    a.gagne@robexgold.com
    Skype: andregagne1