InvestorsHub Logo

FL

Followers 1
Posts 993
Boards Moderated 2
Alias Born 03/20/2004

FL

Re: None

Saturday, 04/22/2006 4:19:55 AM

Saturday, April 22, 2006 4:19:55 AM

Post# of 2138
Robex (RBX.T) maybe found hard-rock source of placer gold in Mali.

[ For original article, with pictures of orpailleur (artisanal local digging) pits, and maps, see:

http://robexgold.com" target="_blank">http://web1.kitco.com/pr/frame/index_prec.html?http://robexgold.com ]

Montreal – Robex Resources Inc (TSX : RBX). Several times during the past year, Robex has suggested the possibility that the primary gold source that fed the La Corne placer which has been explored by Robex was necessarily nearby. This hypothesis was based on the fact that the nuggets found in the placer are angular which implies that they have not travelled very far. During the past few months, Robex has performed a detailed geophysical IP (induced polarization) survey. This survey led to the discovery of two important structures with a N 10 0 to 15 0 orientation, located in the western part of the La Corne placer, that could be related to the primary gold source. The drilling program starting in May announced in the last release dated April 12, will test these structures.

The numerous gold diggers working on the permit are exploiting two distinct gold-bearing quartz veins, with near N-S orientation, located in the western part of the La Corne placer, which apparently coincide with one of the structure identified by the geophysical survey. In one of the excavations, the gold diggers are exploiting hyaline quartz accompanied by iron oxide and iron hydroxide, which yield a reddish colour. The gold diggers are working at a depth of nearly 8 meters over a 20-meter length. In the second excavation, located approximately 100 meters west from the first one, the quartz is dark grey (smoky quartz) and strongly pyritized. An assay of a sample coming from rejects of this second excavation yielded 8 g/t Au.

Earlier assays of the samples collected in the La Corne Placer have revealed that they are barren of arsenic. The gold in the ‘’red quartz’’ would be free gold and the gold in the ‘’grey quartz’’ is associated with pyrite. The gold content coming from these excavations attests the discovery of the total or part of the primary source for the gold that has fed the La Corne placer gold deposit.

We would like to explain that in contrast to Canadian mining laws, in most African countries, including Mali, the natives benefit from century-old rights which allow them to exploit gold on artisanal scale, on exploration properties belonging to local or foreign mining companies. Once a company advances the property from the exploration to the exploitation phase, a perimeter is secured by fences and the access is protected by security guards.

In addition to the structures revealed by geophysics, which coincide with gold anomalies, the two main excavations that are currently being exploited by the gold diggers will be drilled in May. The drilling will test the width of these exploited quartz veins, their extension at depth and their eventual density (number of secondary quartz veins related to the main structures).

This Press Release and the within disclosure have been reviewed by Richard Savard, Geologist, President and CEO of Robex Resources Inc. and Qualified Person in accordance with NI 43-101.

Robex Resources Inc TSX-V: RBX is a Canadian mining exploration and development company focusing on Mali, West Africa. Mali is currently the 4th most important gold producing country in Africa. Robex's permanent exploration office is located in Mali, and is operated by senior geologists with an extensive experience in West African mining exploration. The team works on projects the Company already owns and is always on the lookout for new projects with favourable geology and a high potential for the discovery of world-class gold deposits. This permanent presence in Mali has allowed Robex to become one of the most active exploration and development companies in West Africa. In 2005, Robex was the third most important mining company operating in Mali in terms of investment in exploration.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

FOR THE BOARD

Marcel Bédard CA, Chairman of the Board. Information: Visit the Robex web site www.robexgold.com or call
Marcel Bédard, Chairman of the Board, Quebec, (418) 688-1035, marcel.bedard@mdcb.qc.ca Richard Savard, President and CEO, Montreal, (514) 626-2124, ric.savard@videotron.ca
André Vézina, VP Business Development, Quebec, (418) 670-1422, anvez@sympatico.ca
Raymond Legault, Director, St Bruno, Quebec, (450) 653-8245, rzlegault@hotmail.com
Stewart Robertson, Director, Trenton, Ontario, (613) 392-2646, stewrob@sympatico.ca
Serge Biron, VP Operations, Bamako, Mali, (223) 223-1828, serge.biron@sympatico.ca

This Press Release and the within disclosure have been reviewed by Richard Savard, Geologist, President and CEO of Robex Resources Inc. and Qualified Person in accordance with NI 43-101.


Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.