Kobo Resources expands its exploration portfolio in Côte d’Ivoire through new earn-in agreements with NESDAVE MINING SARL, adding 166.78 km² of land. The establishment of KUNIBOA MINING Co. enables the company to apply for an additional 181.59 km² in exploration licenses. Kobo’s ongoing exploration strategy focuses on gold resource development, particularly around its Kossou Gold Project.
Kobo Resources Inc., trading on TSX.V as KRI, is advancing its exploration portfolio in Côte d’Ivoire via new earn-in agreements and license applications, tapping into one of West Africa’s prime gold regions. The company’s strategic expansion encompasses partnerships designed to enhance exploration opportunities and long-term growth potential, focusing on gold discoveries.
The company has entered two earn-in agreements with local exploration firm NESDAVE MINING SARL, acquiring an additional 166.78 km² of exploration grounds. Both agreements allow for significant equity stakes in valuable licenses, contributing to Kobo’s presence in the minerals-rich country, further supported by the establishment of KUNIBOA MINING Co. with local investors for further exploration.
Through its partnership with Nesdave, Kobo will pursue gold exploration licenses, including a 93.28 km² license in Agnibilékrou and a 73.50 km² license in the southeast regions. By investing a total of approximately C$1.25 million over four years, Kobo aims to increase its interests significantly in these promising areas.
The first license in Agnibilékrou requires an initial investment of C$171,500 in the first year, while the second license in Adzopé demands the same investment amount. Each agreement also stipulates a 1% net smelter return (NSR) for Nesdave, with Kobo retaining a buyback option, demonstrating strategic financial planning and risk management.
Kobo’s applications for exploration licenses through Kuniboa cover areas close to existing licenses, expanding its geographical footprint. The applications involve a total area of 181.59 km² and are set for evaluation by the government, with initial approvals anticipated following presidential decrees in 2025.
Kobo Resources is committed to sustained exploration and mineral development in Côte d’Ivoire, taking advantage of its rich geological landscape. The company’s Kossou Gold Project, located near significant gold mining operations, illustrates its strategic positioning. Extensive activities have been conducted, including over 15,000 meters of diamond drilling, which confirms the potential of multiple mineralized zones.
The firm continues to focus on advancing its projects and securing new opportunities while ensuring supportive frameworks through experienced management. With trading under the symbol “KRI,” Kobo Resources remains a significant player in the promising West African gold industry.
Kobo Resources is strategically expanding its exploration efforts in Côte d’Ivoire, entering into critical earn-in agreements and applying for additional licenses to solidify its presence in a highly promising gold region. This growth aligns with its long-term objectives for successful exploration and resource development in West Africa, supported by substantial drilling operations and favorable partnerships.
Original Source: www.businesswire.com
