Robex to raise money for Lacorne and Kolomba

Vancouver — Robex Resources (RBX-V) has arranged a private placement that will raise between $750,000 and $2.5 million. The money will be put towards the company’s LaCorne and Kolomba gold properties in Mali, West Africa.

Robex plans to prepare its LaCorne placer gold project for development. An environmental study will be performed in preparation for the construction of the processing complex. In addition road access will be upgraded and a water containment reservoir will be built for the gravimetric processing facility.

Situated 35 km southwest of AngloGold/Iamgold’s Sadiola gold mine, the La Corne deposit hosts an indicated resource of 1.7 million cubic metres averaging 3.22 grams per cubic metre, or 184,553 contained ounces. Samples taken from dioritic saprolite below the surface enrichment returned values of up to 4.7 grams per tonne. This coupled with the angularity of the gold grains points to a possible in-situ gold mineralization beneath surface deposit.

At the Kolomba project, also in Mali, Robex plans to implement an aggressive exploration program at the Bilali placer mineralization. Bilali lies on a lateritic plateau about 50 metres from the village of Bilali in the Kenieba valley. Geologically the mineralization follows the northeast trending fault that controls gold mineralization from the Sadiola mine. There are currently over 1,000 active artisanal and small-scale miners in the area that stretches over 1,500 metres in length and is 250-to-300 metres wide.

The financing will consist of a minimum 1.5 million units up to a maximum of 5 million units priced at $0.50 per unit. Each unit will consist of one common share plus a non-transferable warrant. The warrant will be exercisable for a 2-year period at a price of 65 share for the first 12 months and 80 per share for the remaining 12 months.