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06/22/2006
Montreal – Robex Resources Inc (TSX : RBX) announces the acquisition of the N'Golopene property from Golden Horse SA. The property covers an area of 114 km2 in the Kadiolo area, southern Mali. N'Golopene is located 530 km from Bamako, a distance that can easily be traveled in one day.
Geologically, the property is located in the same volcano-sedimentary rock as the Birimian formation hosting the Syama gold mine. More precisely, the N'Golopene concession is located immediately North of the Syama deposit.
Originally owned by Rangold, the Syama Mine went into production in 1990. After extracting 1,5 M oz gold, and due to depressed gold prices, the production was halted in 2001. In early 2004, the Syama Mine was bought by Resolute Mining. A recent feasibility study shows that the resources, all categories included, now stand at more than 47 MT at a grade of 2,5 g/t gold, for approximately 4,5 M oz gold to be recovered.
The N'Golopene concession exhibits some attributes favourable for the discovery of viable gold mineralization. Key features of past and recent studies on the property are summarized here after:
- The property shows a geological environment similar to the one observed at the Syama gold mine;
- The property is located in the extension of the geology and structure of the Syama deposit;
- Two gold targets, Bananso NE and Karbasso, offer a range of opportunities including eluvial, and hardrock environments;
- Several areas on the property exhibit historical and current gold digging activity;
- The Banmbere and the N'Golopene sectors exhibit geological settings favourable for gold mineralization.
By virtue of this Agreement, ROBEX will be entitled to get a joint interest equivalent to 93% in the exploration permit according to the following cash payments:
45,000 US$ at the date of signature of the notary agreement (for the first year) in order to acquire a 55% interest in the property.
75,000 US$ for the second year;
125,000 US$ for the third year.
A 2% NSR will be held by the vendor, of which 1% could be bought for 500,000$ US.
Exploration programs on this property will start as soon as possible. It will be initiated by the study of satellite images, the opening of access roads to the properties from Robex's Nampala camp, and soil geochemistry over known anomalous areas.
This Press Release and the within disclosure have been reviewed by one of our Qualified Persons, Richard Savard, Geologist, President and CEO of Robex Resources Inc.
These agreements are subject to the Approval of Regulatory Authorities.
Robex Resources Inc (TSX-V: RBX), 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard Savard,geologist; President and CEO
FOR INFORMATION: Check the Robex website 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
Stewart Robertson, Director, Trenton, Ontario, (613) 392-2646, stewrob@sympatico.ca
Raymond Legault, Director, St Bruno, Quebec, (450) 653-8245, rzlegault@hotmail.com
Luc Pelchat, Director, Monterey, Mexico, luc.pelchat@pelchatconsultores.com.mex
Christopher Zakak, Director, Boston, USA, czakak@projectsinternational.com
Henri Maire, Director, Westport, Ct, USA, hmaire@msn.com
André Vézina, VP Business Development, Quebec, (418) 670-1422, anvez@sympatico.ca
Serge Biron, VP Operations, Bamako, Mali, (223) 223-1828, serge.biron@sympatico.ca
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