• Kobo Resources raises $3.9 mln to fund gold exploration in Côte d’Ivoire
• Funds to advance drilling at Kossou and early-stage work at Kotobi site
• Projects remain at early stage, with no major gold discovery confirmed yet

Canadian junior miner Kobo Resources announced yesterday it has raised $3.9 million through a private placement completed in August. The funds will be used to continue gold exploration in Côte d’Ivoire, mainly at the Kossou project.

“The Company intends to use the net proceeds of the Offering to pursue its exploration initiatives initiated in H1-2025 and extend the known zones of mineralisation at its three main targets, the Road Cut Zone, Jagger Zone and Kadie Zone on the Kossou Gold Project, initiate preliminary metallurgical work and further develop its ongoing soil geochemical and trenching survey at Kossou as well as to enhance the geological exploration program on the Kotobi research permit and for general corporate and working capital purposes,” the company said.

Kossou is Kobo’s main asset in Côte d’Ivoire and has been the focus of a diamond drilling campaign since April. The program initially includes 5,000 to 6,000 meters of drilling at the Jagger and Road Cut targets, which could extend up to 30,000 meters depending on results. At Kotobi, where exploration is at an earlier stage, the company is assessing targets for future work.

Overall, the projects remain at an early stage of development, and it is still uncertain whether current efforts will lead to a major discovery. Meanwhile, other exploration projects in Côte d’Ivoire are more advanced.

These include Aurum Resources’ Boundiali gold deposit, which already hosts 2.41 million ounces of resources, and African Gold’s Didievi project, where new drilling is under way to expand its 989,000 ounces of inferred resources.