Robex can’t get a lift from latest results

Results from Robex Resources (RBX-V) first campaign on two zones within its Wili-Wili prospect in Mali are in, and while one zone clearly outperformed the other, it still wasnt enough to give the Ste-Foy, Quebec-based company a lift on the market.

In Toronto on June 13, Robex shares fell over 8% to 25 on roughly 1.6 million shares traded.

The company drilled a total of 4,245 metres at its Fandou and Mamoudouya zones, but only results from Fandou proved somewhat significant.

Fandou is situated in the south-western area of Wili-Wili where the gold anomaly is said to run 2.8 km by 600 meters.

The zone received 18 holes and 2,019 metres or reverse circulation drilling. Highlights include:

• Hole WR-139 22 metres (beginning at a depth of 92 metres) grading 4.2 grams gold
• Hole WR-119 8 metres (beginning at a depth of 23 metres) grading 2.15 grams gold
• Hole WR-104 10 metres (beginning at a depth of 87 metres) grading 1.31 grams gold

Robex says the centre of the gold anomaly returned stronger gold grades, while an east-west trench cut in the zone graded 13 metres at 2.29 grams gold.

The drill program unearthed mostly sediments although intrusives were intersected frequently, Robex says, and it describes sediments are shales, silts and graywackes.

Robex ties mineralization at the zone to a shear zone which it says is visible on surface and in drilling and to quartz stockwerks and apparently associated sub-vertical veins.

At its strongest hole WR-139 drilling ended in mineralization leading the company to speculate that mineralization continues below 115 metres.

The Mamoudouya zone also underwent its first drill program, which saw 17 holes and 1,614 metres of reverse circulation drilling. Highlights include:

• Hole-123 1 metre (beginning at a depth of 37 metres) grading 1.4 grams gold
• Hole-131 3 metres (beginning at a depth of 11 metres) grading 1.17 grams gold

While the company says it is still analyzing the Mamoudouya results to determine whether or not it will continue drilling there, it says it will start drilling again at Fandou in October.

Robex is the third largest exploration company in Mali by exploration investment dollars.