Kobo Resources is a Canadian based exploration company exploring for gold in West Africa recognized as a top tier gold province underlain by Paleoproterozoic Birimian Group rocks that host significant gold reserves and is a high priority target for many gold companies. The Company holds two key Research Permits (Kossou and Bongouanou) totaling 449 square kilometers and has three additional Research Permit Applications totaling 1,068 square kilometers, all hosting Birimian host rocks in central Côte d’Ivoire.
Kobo is focused within the country of Côte d’Ivoire, which has seen significantly less exploration and development work compared to its West African neighbours. It is recognized that Côte d’Ivoire hosts approximately 35% of Birimian host rocks in West Africa but has produced significantly less gold that surrounding countries over the past 20 years. These geological conditions and the historic lack of extensive exploration make Côte d’Ivoire a wonderful opportunity to discover significant gold deposits.
Kobo is focusing exploration efforts primarily on the Kossou Project, 147 km2, (“Kossou” or the “Project”). The key gold showings lie within 5 top 7 kilometers the Yaouré Mine operated by Perseus Mining Ltd. Kobo has identified several gold zones with soil geochemical sampling and rock sampling that had not previously been discovered. Importantly, the geological setting and proximity to Yaouré give the Kossou project a decided advantage compared to many exploration opportunities.
As per Perseus Mining website (www.perseusmiing.com) the Yaouré mine has Measure and Indicated Resources of 2.21 million ounces gold and Proven and Probable Reserves of 1.56 million ounces gold. Yaouré poured its first gold in December 2020 and declared commercial production in March 2021. The mine is expected to produce more than 200,000 oz gold per year over the first 5 years with an average AISC of US$745 per ounce. Overall mine life is currently estimated at ~8 years1.
Kobo also controls the Bongouanou Research Permit, 302 km2 and has three pending Research Applications in the Bongouanou Region covering approximately 1068 km2. All projects and potential projects are underlain by Birimian host rocks.
The preliminary prospectus can be viewed on the SEDAR website.