Encouraging assays have led to an extension of the Phase 1 40,000 metres auger and 7,000 metre reverse circulation drilling program at the Dandoko and Moussala.
The Phase 2 drilling campaign for a further 25,000 metres of infill auger, aircore and reverse circulation drilling has been approved and is underway.
Auger assay results received to date successfully outline extensive new gold anomalies and the latest reverse circulation drilling has intersected grades of up to 50 g/t gold.
Further assays from completed Phase 1 drilling remain pending.
Auger drilling results
The recently completed 40,000 metre program was designed to improve the geological and geochemical understanding of prospective target areas within the Dandoko and Moussala projects.
Assay results received from the auger drilling campaign at Dandoko have successfully outlined new and encouraging zones of strong gold anomalism, most notably at the Seko area.
The auger assay results at Seko have successfully outlined several new significant gold anomalies, including:
- A western coherent trend extending over 1.6 kilometres with grades of up to 3.28 g/t gold;
- A central parallel ~2.0 kilometre long gold trend with grades of up to 2.42 g/t gold; and
- Further anomalous zones of over 800 metres in length.
Assay results are also pending from the south of the Dandoko project and from Moussala and will be released when coherent blocks of data become available.
Follow-up auger drilling has been approved by the board as part of the Phase 2 campaign comprising a further 25,000 metres of auger, aircore and reverse circulation drilling, with two auger rigs currently dedicated to infill drilling of the new Seko trends in advance of aircore drilling.
It is anticipated that the infill assay results will be available by early March in advance of a planned aircore drilling program.
Reverse circulation drilling results
A program of 46 reverse circulation drill holes for a total of 6,540 metres was completed in January at the Diabarou prospect within the Dandoko Project.
The step-out program was designed to test for strike extensions to the previously outlined high grade gold mineralisation.
Latest results include:
- 2 metres at 50.00 g/t gold;
- 5 metres at 3.65 g/t gold including 1 metre at 9.37g/t gold;
- 8 metres at 2.08 g/t gold;
- 5 metres at 4.36 g/t gold including 2 metres at 8.21g/t gold;
- 2 metres at 9.08 g/t gold; and
- 10 metres at 1.28 g/t gold.
The zone of high grade mineralisation that was initially outlined at Diabarou remains open at depth.
The open pit potential of this high grade zone will be further assessed.
At the Disse prospect, assay results are pending from the 7 reverse circulation holes completed testing for extensions to the previously reported high grade gold zones from aircore drilling.
Assays continue to provide evidence that the large-scale drilling programs at the Dandoko and Moussala projects are uncovering further prospective gold targets.
Results from both drill programs aim to create value for Oklo by defining the Diabarou and Disse gold discoveries and identifying further targets such as Seko.
With over 50,000 metres of drilling now complete at the two projects and more planned, exploration based news flow is expected to continue.
Oklo shares are trading up 80% in 2017, currently priced at $0.20.
The Dandoko and Moussala projects are located within the Kenieba Inlier of western Mali and lie within 30 kilometres of B2Gold’s 5.15 million ounce Fekola project and 50 kilometres of Randgold’s 12.5 million ounce Loulo mine.
Six auger rigs are currently in operation at the Dandoko and Moussala projects, with two of these rigs dedicated to infill drilling along the recently announced Seko discovery.
The drilling programs are fully funded from the company’s cash reserves, which currently stand at circa $7.0 million.