Robex up to 760,000 oz. gold for Nampala

Now that Robex Resources (RBX-V) has the official inferred resource for its Nampala gold deposit in southern Mali, its strategizing where to drill next to bump those numbers into the indicated category.

The current resource is about 27 million tonnes grading 0.9 gram gold per tonne, or 760,000 oz. gold. Thats 25,000 oz. more gold than what was estimated in an April preliminary report. Resources were based on drilling completed in 2006.

We want to keep drilling, says Robex president and CEO Richard Savard. The deposit is open to the west, north and at depth.

This fall Savard will have a consultant visit the Mininko property to advise on where to drill for both the Nampala and the NGolola deposits, located on the northeastern and southeastern portions of the property, respectively.

Its not in stone yet, but Savard says Robex will do about 5,000 metres of reverse-circulation drilling and 3,000 metres of diamond drilling on Nampala, and a further 5,000 metres of RC drilling on NGolola.

So far, most the drilling hasnt gone below about 100 metres depth. The consultant is going to advise on deeper drilling that will extend possibly beyond 300 metres. A few holes drilled below the 100-metre level intersected mineralized tonalite. For example, drill hole NRC 602 intersected 12 metres grading 1.58 grams gold per tonne between 119 metres and 131 metres.

Savard says the company will be testing for rich pockets of gold with the deeper diamond drilling.

Savard is also interested in learning more about the NGolola deposit, where a 9-metre intersection graded 3.95 grams gold per tonne.

It had good values but we didnt have a large enough budget (to do more drilling), Savard says.

The Mininko property is located near the Morila gold mine operated by AngloGold Ashanti (AU-N, AGG-A, AGD-L) and Randgold (GOLD-Q, RRS-L) and the Syama gold mine, operated by Resolute Mining (RMGGF-O, RSG-A). Morila produced about 500,000 oz. gold in 2006 and Syama, which has a resource of 6.4 million oz., is scheduled to start production this year.

Robex shares were down 6% today or 1.5 to 22 on 13,100 shares after increasing 2 on Friday when the resource was released.