Toubani’s flagship 2.2m ounce gold project is already proving to be a substantial find for the company, however management believes the project still holds massive upside exploration potential at depth and along strike.

Given 40km of the 50km strike length remains undrilled, the drilling program has also been designed to test for additional high-margin oxide resources along strike. It will also probe for deeper extensions as 76 per cent of the free-milling oxide resource lies within 150m of the surface.

The campaign will also be used to finalise the pit design and processing methods to de-risk the project and optimise production plans ahead of construction and “shovel-ready” status in 2025.

Toubani’s management says it continues to engage in discussions with the Malian government to finalise investment agreements and its partnership arrangements for the project that it says will ultimately provide an economic contribution of more than US$1.2b (A$1.86b).

Commenting on recent concerns around Mali, the company says its operations continue uninterrupted and it has no tax liabilities in-country or disputes with the government.

Given the current rampant price of gold of US$2621 (AUD$4059) per ounce, it’s an exciting time to be a gold explorer.

With a substantial low-cost, free-milling orebody and a strong DFS, Toubani says it has received funding interest from both African Banks and credit funds – all of whom Endeavour will no doubt now have on speed dial.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au