Kobo Resources Enhances Exploration Initiatives in Côte d’Ivoire

Kobo Resources Inc. has expanded its exploration portfolio in Côte d’Ivoire through new earn-in agreements with NESDAVE MINING SARL and the establishment of KUNIBOA MINING Co. The partnerships add significant exploration area and support the company’s long-term growth strategy in the gold sector. The company’s Kossou Gold Project continues to progress, reflecting its commitment to pursuing new opportunities in West Africa.

Kobo Resources Inc., headquartered in Quebec City, is pleased to announce the enhancement of its exploration portfolio in Côte d’Ivoire through new earn-in agreements and license applications, capitalizing on the region’s potential for gold exploration. These initiatives are part of the company’s broader strategy to expand its presence in one of West Africa’s most promising gold districts.

The company has entered into two earn-in agreements with NESDAVE MINING SARL, a local Ivorian firm. This partnership adds 166.78 km² of exploration area, significantly strengthening Kobo’s position in the region. In addition, Kobo has established KUNIBOA MINING Co. with local partners and holds a 40% stake, applying for two more licenses totaling 181.59 km² to further extend its reach in Côte d’Ivoire.

Kobo’s strategy focuses on advancing exploration and gold discovery in Côte d’Ivoire. CEO Edward Gosselin emphasized the importance of expanding their exploration footprint, stating that the new agreements support the company’s goal of systematically evaluating and advancing target areas in the country. He noted ongoing progress at their Kossou project and the potential of new land acquisitions.

Under the agreements with NESDAVE, exploration licenses were granted, with detailed investment commitments from Kobo to acquire a 90% interest in the properties. The first license covers 93.28 km², located near the Ghana border, while the second covers 73.5 km² in southeastern Côte d’Ivoire.

Each agreement includes a 1% net smelter return for NESDAVE, with Kobo retaining a buy-back option. NESDAVE is also entitled to a per-ounce bonus upon positive feasibility study outcomes. Additionally, the Kuniboa license applications are in proximity to existing projects and are expected to progress towards approval in 2025.

Kobo Resources is committed to identifying and developing new gold opportunities while advancing its exploration efforts at its Kossou Gold Project, which demonstrates significant mineralization potential. The company utilizes extensive drilling results to inform further exploration plans, with overall strategic intentions aimed at long-term growth in Côte d’Ivoire’s gold sector. Kobo’s shares are traded on the TSX Venture Exchange under the symbol “KRI.”

In summary, Kobo Resources Inc. has successfully solidified its exploration efforts in Côte d’Ivoire with new agreements and license applications. These strategic moves not only expand the company’s exploration footprint but also align with its long-term growth ambitions in gold exploration. The partnerships and ongoing projects, particularly at Kossou, highlight Kobo’s commitment to advancing its portfolio in a highly promising gold district.

Original Source: www.businesswire.com