The attack took place on Monday in the village of Djiguibombo in the Mopti region, one of several areas in Mali's north and centre.
Gunmen attacked the villages of Gora, Madomawa and Jambuzu and that 38 men and 67 women and children were missing.
Mali has since 2012 been ravaged by different factions affiliated with Al-Qaeda and the Islamic State group as well as local groups.
Largely rural Shiroro, where the incident took place, is frequently attacked by armed gangs targeting villages and security personnel.
The workers had been conducting mining activities despite an earlier order, prompting the government to prohibit all quarry activities.
The assault comes after Al-Shabaab gunmen attacked a hotel near the presidential palace in Mogadishu on March 14, killing three people.
Camouflaged gunmen opened fire at the packed Crocus City Hall in Moscow's northern suburb of Krasnogorsk on Friday evening, ahead of a concert by Soviet-era rock band Piknik