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Oklo Resources completes agreement to acquire Mali gold project

Last month the company secured $15 million in an oversubscribed placement.
Map of projects in Mali and nearby deposits
The company's gold projects are all nearby to large-scale gold mines

Oklo Resources Ltd (ASX:OKU) has completed the agreement to acquire 100% of the Kandiole Sud Project in west Mali.

Kandiole is located five kilometres from Oklo’s flagship Dandoko Project where the company aims to discover a multi-million-ounce gold deposit.

The new Kandiole project comprises a single granted permit covering 116 square kilometres.

Oklo will commence work on the project immediately, with data compilation and planning of auger geochemical drilling currently in progress.

Under the terms of the agreement, Oklo will now pay $200,000 and issue 2.11 million shares.

READ: Oklo Resources' acquisition of Kandiole Sud adds another string to its bow in highly prospective territory

Kandiole is within the Kenieba Inlier to the immediate east of the regionally significant Senegal Mali Shear Zone.

This zone and associated northeast trending splay structures are spatially related to several major gold projects.

These include B2Gold’s (TSE:BTO) 5.15 million ounce Fekola Mine and Randgold’s (LON:RRS) 12.5 million ounce Loulo Mine.

READ: Oklo Resources' drilling continues to extend district-scale gold potential in Mali

Earlier this month, Oklo eceived positive gold assay results from aircore drill testing of anomalies at Dabia, located north of the Seko gold discovery in its Dandoko project.

The drill holes successfully intersected grades of up to 12 g/t gold along with multiple intercepts of anomalous to low-grade mineralisation.

These include 15 metres at 2.05 g/t gold including 9 metres at 3.02 g/t gold, 22 metres at 0.87 g/t gold including 8 metres at 1.87 g/t gold, and 8 metres at 2.64 g/t gold.

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