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Market: ASX:OKU
52-week High/Low: A$0.50 / A$0.20
Sector: Mining
Market Cap: A$101.12M
Oklo Resources Ltd

Oklo Resources Ltd

Oklo Resources Ltd (ASX:OKU) is focussed on the exploration and development of a gold portfolio in West Africa.

Oklo Resources Ltd

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Big picture - Why invest in Oklo Resources Ltd

Oklo Resources Ltd Snapshot

Oklo Resources (“Oklo” or “The Company”) is an ASX listed (ASX:OKU) West African gold company, focussed on the exploration and development of a recently acquired outstanding gold portfolio in South and West Mali, West Africa.

Current focus is on the drilling of several highly prospective prospects located on The Company's Dandoko Project. Dandoko is located within the Kineiba Inlier in West Mali 50km south south east of the 11Moz Lulo Gold Mine and 30km east of the 5.15Moz Fekola Deposit.

All of the projects within Oklo's portfolio have been carefully selected by key management, over several years, who have a track record of the discovery of multiple, multi-million ounce deposits in the immediate region. Those Discoveries attributed to key members of the team now total in excess of 35Moz.

Oklo is exploring large, shallow, shear related lode gold systems within Birimian greenstone terrain capable of hosting multiple, shallow, multi-million ounce deposits.

With a significant gold discovery already established (2012) at Yanfolila Project, as evidence of managements exploration track record ability, it is Oklo’s goal through exploration success, to explore for, discover and develop one or more multimillion ounce deposits within 3 years.

Dandoko Deposit

Drilling Continuing After Initial Exploration Success

    - 134 km² located in +40Moz West Mali gold province
    - Located 30km from 5.15Moz Fekola deposit (ASX:PIR)and 50km SSE of 11Moz Loulo Mine
    - 6 Drill-ready targets over extensive artisanal workings being tested. Two new Discoveries reported Jan 2014
    - Major east-west trending structures with crosscutting structures in Birimian greenstones

Drill Targets


NEW DISCOVERY – Maiden Drillhole delivers several zones of gold mineralisation over 64 metres


NEW DISCOVERY - Drilling in December 2013 delivers strong 21m wide gold mineralised intercept incl. 17m @2.3g/t.


AWAITING RESULTS - Auger Drilling testing underlying NNE-SSW trending structure below coincident gold-in-soil anomalies and artisanal workings underway.


DRILLING January 2014


TRENCHING before drilling late January 2014


DRILLING PLANNED to twin a previous historical Compass Gold intersection late January 2014


Dandoko and Moussala are located in Western Mali, in the "Kenieba-Koudougo Birimian window". The Yanfolila, Kolondieba, Solabougouda licenses and the Sirakourou application are located in Southern Mali. All 6 projects are on strike with World class gold deposits.

    - 2012 Diamond drilling of Solona target lead to the discovery of a large gold system
    - Deep level of oxidisation with soft, easy-to- mine and to process material extending to a vertical depth of 180m
    - 12km of untested gold-in-soil anomalies
    - 35km north of 2Moz Kalana & Kodieran deposits, and 25km east of 2Moz Komana deposit (Goldfields)
    - Located along one of the largest faults in South Mali (500 km strike length)

(click here for more information on this project)


A regional geochemical mapping and sampling over the Moussala ATE has been completed. A total of 781 geochemical samples on a grid of 500m by 200m have been collected and submitted to the ALS laboratory in Bamako. Fieldwork has been completed using a Malian Government Agency (PDRM) as contractor under the supervision of Africa Mining.

Africa Mining expects moussala to have a similar prospectivity as the Dandoko permit. Africa Mining has applied to convert the Moussala permit from an "Authorization to Explore", to a full "Exploration Research Permit". The Moussala permit is located in Mali's Western gold belt and in close proximity to targets identified at the Dandoko project.


Since the permit was awarded, Africa Mining has conducted some reconnaissance work that has identified features similar to the Yanfolola East Shear zone.

The permit is considered highly prospective.

Interpretation of the high-resolution airborne magnetic and radiometric data collected last May is in its final stage. Newly compiled geological maps and targets derived from the survey will be released shortly.

Geochemical sampling, mapping and trenching has now started on the Solabougouda license over new targets identified from the high-resolution aeromagnetic survey.

Samit Phosphate

Oklo holds an exploration and mining lease over a large tenement area. The phosphate beds are outcropping or shallow over much of the ground holding. The exploration work carried out to date indicates the potential for large phosphate tonnages at attractive grades. Oklo’s two gold projects are located near to established infrastructure and close to existing mines. They are near to the Mali / Senegal / Mauretania borders and north of the regional gold mining centre of Kayes. The two leases cover important greenstone belt geology and are in the same mineralised corridor that hosts such famous mines as Sadiola (14m oz. ), Loulo (11m oz.)  and Yatela (2.5m oz.).

(click here for more information on this project)


Exploration activities have been limited to detailed ground magnetic surveying and are still considered to be at an early stage. Four fault systems have been identified to date, however further exploration is required to test the geological setting of the Kolondieba South gold showing.

Exploration work has recommended, including trenching and auger drilling with a view to identifying drill-ready gold targets. Specifically, the Company will undertake a trenching program over portions of the 4km long Koloni gold-in-soil anomaly at Kolondieba.

Similar to Yanfolila, in accordance with the terms of the Kolondieba permit, Africa Mining is required to relinquish 50% of the Kolondieba permit in July 2011. The areas where exploration work has been conducted will be retained by Africa Mining. Compass will apply for new permits covering the relinquished areas in order to maintain the current landholding. There are no assurances that the new permits applied for will be granted to Compass by the applicable governmental authorities.

Boutounguissi & Aourou

The Boutounguissi South and Aourou concessions cover important greenstone belt geology that elsewhere within the same mineralized structural corridor, host millions of ounces of gold. The Senegalo-Malian structural corridor (also known as the Mali-Senegal Shear Zone) is widely mineralized and hosts no fewer than six major gold deposits, including: Sadiola (>14 million ounces of gold), and Loulo; comprising the Yalea and Gara Mines (>11 million ounces of gold).

(click here for more information on this project)

Harts Range

The agreement provided for Mithril to earn a 60% interest in the Oklo tenements through the expenditure of $1m within three years of the commencement date, with the right to earn a further 20% interest via the expenditure of a further $1m over two years.

In the December quarter 2010, Mithril met the initial expenditure commitment and it was resolved that pursuant to the agreement, both companies would proceed with a  joint venture over the non-uranium minerals on the tenements with a 60% interest held by Mithril and 40% by Oklo, with the joint venture managed by Mithril.

The newly discovered Tibbs Prospect is a gold-tungsten-copper horizon that extends over a strike length of more than 3 kilometres with multiple rock ship samples returning highly anomalous >1g/t gold, tungsten and copper values. The gossan and ironstone hosting the mineralization has not been drill tested and remains open in all directions.

Rock chip samples from Tibbs returned values of up to 13.9g/t gold from the mineralised horizon which is often partially obscured by soil and rubble.

Geological mapping  and sampling of this new discovery will continue and Mithril is confident the horizon will be extended.

Previous work had identified an outcropping nickel-copper target identified as the “Blackadder” prospect. A subtle SE trending gravity ridge from the outcropping nickel-copper  mineralised gabbroic body may be indicating a plunge to the Blackadder mineralised body. This will also be screened with Ground EM followed by drilling of compelling conductors.

Last updated 27th October 2015.

James Henderson
Executive Chairman
B.Com., CA

Mr. Henderson is currently Managing Director of Transocean Group Pty Ltd, a corporate advisory and private equity group focused on the emerging company market. His expertise is in the area of corporate strategy and structuring, capital raising and commercial negotiation. Mr Henderson has led teams on a variety of transactions including mergers, acquisitions, dispositions, takeovers, and capital raisings, particularly in Australia, Canada, the USA and Africa.

Simon Taylor

Managing Director
BSc, MAIG, GcertAppFin

Mr Taylor is a geologist with over 25 years’ experience in exploration, project assessment and development in the resources sector. He has had a diversified career as a resources professional providing services to resource companies and financial corporations. This has been at both a technical and corporate level. His experience spans a range of commodities including gold, fertilisers (phosphate and potash), base metals, nickel, uranium, coal and coal seam methane. Whilst his experience includes Australia a majority of his projects have been in international countries including Brazil, Turkey, Uganda, Tanzania, Mali, China, UK and North America.

His experience includes providing consulting services to resource companies and financial corporations as a resource analyst. His corporate experience includes project appraisal, advice on placements and fundraising. He is currently a non-executive director with Chesser Resources Limited and has held former directorships with Aguia Resources Limited (Managing Director), Bondi Mining Limited and Probiomics Limited. He is a member of the Australian Institute of Geoscientists and a graduate of Sydney University.

Jeremy Bond B.Com
Non-Executive Director
B.Econ, BA

Mr Bond is an investment manager of Terra Capital, an Australian based resource fund. He previously worked as a resource analyst at RAB Special Situations Fund at RAB Capital Plc based in London. The RAB Special Situations Fund had an investment bias towards natural resources and was previously rated the Best Energy and Natural Resources Fund by Hedge Fund Review in 2007 and ranked No 1 in Baron's Hedge Fund 50 Global rankings in 2007.

Prior to joining RAB, Mr Bond was an associate at Azure Capital, a boutique investment bank based in Perth, WA. There he worked on numerous merger and acquisitions as well as being involved in a number of capital raising in the resources sector.

Management & Consultants

Dr Madani Diallo
Technical Consultant
MSc Geochemistry & Mineralogy, PhD Geochemistry, Knight of National Order of Mali – Chevalier de l’Ordre National

Dr Diallo has and outstanding track record for over 30 years of successful exploration in Africa.  During his lengthy career Dr Diallo on several occasions has directly lead the teams that discovered several large gold deposits including the multi million ounce deposits of Syama, Morila , Sadiola and Essakane. Dr Diallo is a director of several companies focussed on precious and industrial minerals in the region. He also advises private and government agencies involved with the financing of resource related projects. Dr Diallo was until recently a Director of the Sadiola and Yatela Mines (IamGold/AngloGold Ashanti JV), Director of AngloGold Ashanti in Mali.

He has also held position of Vice-President of the Mali Chamber of Mines,  President of the Association of Geoscientists in Mali and Director of BIB-UBA bank in Burkina Faso. He has also been honoured with the second highest distinction in Mali “Knight of National Order” for his contribution to the development of the Mali mining industry.

Andrew Boyd
Technical Consultant
BSc. (Melb)

Mr Boyd is a geophysicist with over 20 years exploration and mining experience.  More recently Mr Boyd was General Manager - Geoscience for ASX listed Papillion Resources before its merger with TSX listed B2 Gold, valuing Papillion Resources at around AUD600 million.  Prior to working with Papillion Resources, Mr Boyd was General Manager - Geoscience with Mantra Resources before its takeover by ARMZ/Uranium One for AUD1.02 billion.

Louisa Martino
Company Secretary
B.Com, CA

Ms. Martino provides a number of listed companies with company secretarial services.  Prior to this she worked for a corporate finance company, assisting with company compliance and capital raisings.  Ms Martino previously worked for a major accounting firm in Perth, London and Sydney where she provided corporate advisory services and also performed due diligence reviews.  She has a Bachelor of Commerce from the University of Western Australia, is a member of the Institute of Chartered Accountants in Australia and a member of the Financial Services Institute of Australia (FINSIA).

Last updated 27th October 2015.

Oklo Resources Limited
Level 5, 56 Pitt Street
Sydney NSW 2000

Phone(02) 8823 3100(02) 8823 3100
Fax: (02) 9252 8466
Email: [email protected]

Simon Taylor, Managing Director:
+61 2 8823 3100+61 2 8823 3100

Louisa Martino, Company Secretary:
+61 2 8823 3179+61 2 8823 3179

Oklo Resources Ltd Timeline

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