Proactiveinvestors Australia Oklo Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Oklo Resources Ltd RSS feed en Sat, 20 Jul 2019 11:04:50 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Oklo Resources exercises option to acquire stake in Mali gold project ]]> https://www.proactiveinvestors.com.au/companies/news/224097/oklo-resources-exercises-option-to-acquire-stake-in-mali-gold-project-224097.html Oklo Resources Ltd (ASX:OKU) has acquired a 65% interest in the Kossaya Project in Mali, adding to its landholding in the Birimian greenstone belts.

Kossaya covers 70 square kilometres and is nearby to Oklo’s other projects including its flagship Dandoko Project.

Oklo received results from shallow auger drilling in May 2019 that showed gold mineralisation at Kossaya including 7 metres at 4.29 g/t gold.

The auger drilling met Oklo’s commitment to fund a minimum of €100,000 in exploration allowing it to exercise the option and pay €60,980 to gain the 65% stake.

Oklo can increase ownership to 100% by paying around €30,000 in cash or shares by July 2020.

READ: Oklo Resources appoints Mark Connelly as non-executive chairman

Oklo recently appointed Mark Connelly as non-executive chairman to its board.

The dealmaker has an impressive track record in Africa notably for his roles in the US$570 million merger of Papillon Resources with B2Gold Corp (TSE:BTO) in October 2014 and the USD$600 million merger of Adamus Resources with Endeavour Mining Corp (TSE:EDV) in September 2011.

He received Mining Journal’s Outstanding Achievement - CEO of the Year 2014 Award for his outstanding contribution to Papillon Resources.

]]>
Thu, 18 Jul 2019 13:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/224097/oklo-resources-exercises-option-to-acquire-stake-in-mali-gold-project-224097.html
<![CDATA[News - Oklo Resources appoints Mark Connelly as non-executive chairman ]]> https://www.proactiveinvestors.com.au/companies/news/223944/oklo-resources-appoints-mark-connelly-as-non-executive-chairman-223944.html Oklo Resources Ltd (ASX:OKU) has appointed Mark Connelly as non-executive chairman of the company effective immediately.

Connelly is a seasoned financial and commercial executive with extensive resource industry experience in CEO and managing director roles with several successful resource development and mining companies across multiple jurisdictions including Australia, North America, South America, Africa and Europe.

Deal-making in Africa

His impressive track record for deal-making in Africa includes the US$570 million merger of Papillon Resources with B2Gold Corp (TSE:BTO) in October 2014 and the USD$600 million merger of Adamus Resources with Endeavour Mining Corp (TSE:EDV) in September 2011.

Connelly was the recipient of Mining Journal’s Outstanding Achievement - CEO of the Year 2014 Award for his outstanding contribution to Papillon Resources.

He currently holds a number of other directorships in resource and engineering service companies.

READ: Oklo Resources confirms second bedrock discovery at Kouroufing; drilling continues at Dandoko

Oklo managing director Simon Taylor said: “We are delighted that Mark has accepted our invitation to join the Board as Chairman.

“He not only brings extensive industry knowledge but key leadership and corporate skills that will greatly benefit Oklo as it advances towards the next stages of its development.”

READ: Oklo Resources exercises option to acquire 65% of Sari Gold Project in Mali

Connelly said: “I am pleased to be joining the Board of Oklo given my prior association with several highly successful gold companies in West Africa, including as Managing Director of Papillon Resources following the world-class Fekola gold discovery in Mali.

“Oklo is a compelling opportunity to join forces with another well-credentialed exploration team, including my former Papillon colleague Andrew Boyd, that is successfully advancing a highly prospective yet underexplored portfolio of gold projects neighbouring Fekola.”

With this new appointment, Oklo’s outgoing chairman Simon O’Loughlin will move to a non-executive director role and continue his involvement with the company.

]]>
Tue, 16 Jul 2019 12:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/223944/oklo-resources-appoints-mark-connelly-as-non-executive-chairman-223944.html
<![CDATA[News - Oklo Resources exercises option to acquire 65% of Sari Gold Project in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/221928/oklo-resources-exercises-option-to-acquire-65-of-sari-gold-project-in-mali-221928.html Oklo Resources Ltd (ASX:OKU) has exercised its option to acquire a 65% interest in the Sari Gold Project in Mali which forms part of its strategy to acquire a significant landholding within the Birimian gold belt.

Securing the 65% option from Ecosud Sari was satisfied by the payment of €15,245 as well as the expenditure of €117,000 in exploration during the first year.

The company continues to hold the option to acquire the remaining 35% of the project in western Mali in June 2020 via a further payment of about €15,000 or the equivalent in Oklo shares.

READ: Oklo Resources confirms second bedrock discovery at Kouroufing; drilling continues at Dandoko

Oklo holds around 500 square kilometres of highly prospective ground in this emerging world-class gold region.

The company’s managing director Simon Taylor said: “Oklo’s strategy of building a significant foothold in this prolific region has delivered exceptionally well.

“We have already confirmed two bedrock gold discoveries at Kouroufing and first pass geochemical auger drilling at the adjoining Sari and Kossaya projects shows anomalous gold within these permits as well.

“We look forward to continued exploration across this recently acquired land package.”

READ: Oklo Resources identifies gold trends over 4 kilometres in length at Kouroufing in Mali

The Sari project covers 14 square kilometres within the Kenieba Inlier to the east of the regionally substantial Senegal Mali Shear Zone (SMSZ) and is within close proximity to several major gold projects.

These include the 7.1 million-ounce Fekola mine, the 12.5 million-ounce Loulo mine and the 15 million-ounce Sadiola mine.

If the company elects to apply for an exploitation licence (mining licence) Oklo shall grant Ecosud a 5% equity interest in the licence and a 1% net smelter return royalty (NSR).

]]>
Wed, 12 Jun 2019 11:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221928/oklo-resources-exercises-option-to-acquire-65-of-sari-gold-project-in-mali-221928.html
<![CDATA[News - Oklo Resources confirms second bedrock discovery at Kouroufing; drilling continues at Dandoko ]]> https://www.proactiveinvestors.com.au/companies/news/220965/oklo-resources-confirms-second-bedrock-discovery-at-kouroufing-drilling-continues-at-dandoko-220965.html Oklo Resources Ltd (ASX:OKU) has received further encouraging drilling results from its Kouroufing Project, 20 kilometres southeast of the company’s flagship Dandoko Project in west Mali.

First assay results received from wide-spaced, shallow aircore (AC) drilling along a 1.4 kilometre extent of the Kome Target has confirmed significant bedrock gold mineralisation, with peak gold grades of up to 18.2 g/t gold over 2 metres.

Assay results from nine follow-up reverse circulation (RC) and one diamond hole (DD) at the Kouroufing Central prospect also confirmed the presence of narrow zones of high-grade gold mineralisation.

Oklo’s gold projects in west Mali

Best results include:

• Kome: 2 metres at 18.20 g/t gold from 24 metres;
• Kome: 10 metres at 1.29 g/t gold from 36 metres; including 2 metres at 4.11 g/t gold from 44 metres;
• Kome: 2 metres at 8.50 g/t gold from 18 metres;
• Central: 8 metres at 2.96 g/t gold from 62 metres including 2 metres at 8.20 g/t gold from 64 metres;
• Central: 5 metres at 4.23 g/t gold from 34 metres including 2 metres at 9.26 g/t gold from 35 metres.

Importantly, Oklo’s $5 million drilling program (planned 69,000 metres) at its Kouroufing and Dandoko Gold Projects in Mali are progressing to plan with drilling completed at Kouroufing and a multipurpose drilling rig continuing at Dandoko.

Kouroufing Project – Kome Target, location of AC drill traverses over auger drill holes and max gold in hole values and contours

Oklo managing director Simon Taylor said: “The new AC results from Kome have confirmed another bedrock gold discovery within our Kouroufing Project during the 2019 field season.

“With several other auger anomalies pending deeper drill testing, our confidence in the project hosting multiple, high-grade gold trends is growing by the day.

“Meanwhile, the current drilling program at Dandoko along the 12km-long gold corridor is testing between Seko 2 and 3 as well as along the full length of the corridor and is continuing to provide the opportunity to further enhance the company’s already fertile exploration pipeline.”

Kouroufing Project – Central Target - location of AC drill holes over auger drill holes and max gold in hole values and contours.

A multi-purpose drill rig is continuing at Dandoko with 4,250 metres completed out of the planned 16,000 metres program and drilling is in progress at Seko, Dabia and Sory and other targets along the 12kilometre-long Dandoko gold corridor.

This program will also include traverses exploring for potential gold mineralisation between SK2 and SK3.

Kossaya and Sari projects auger drilling

Assay results have now been received from first pass reconnaissance auger geochemical drilling (925 holes for 12,261 metres) over portions of the Kossaya and Sari projects located to the immediate north of the Kouroufing Project.

The results have defined a series of north-south trends with significant composite grades including 7 metres at 4.29 g/t gold, 5 metres at 0.53 g/t gold, 4 metres at 0.61 g/t gold and 5 metres at 0.59 g/t gold that warrant infill drilling.

]]>
Mon, 27 May 2019 11:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220965/oklo-resources-confirms-second-bedrock-discovery-at-kouroufing-drilling-continues-at-dandoko-220965.html
<![CDATA[News - Oklo Resources identifies gold trends over 4 kilometres in length at Kouroufing in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/218733/oklo-resources-identifies-gold-trends-over-4-kilometres-in-length-at-kouroufing-in-mali-218733.html Oklo Resources Ltd (ASX:OKU) has outlined new robust gold anomalies of over 4 kilometres in length and received many plus-0.5 g/t gold results in a recent program of reconnaissance shallow geochemical auger drilling at Kouroufing project in Mali.

There were 1,588 auger holes for 22,650 metres completed, revealing potential gold-bearing structures in northeast and northwest orientations south of a previously identified 6-kilometre gold corridor.

The results enhance the potential for further bedrock gold discoveries at Kouroufing with multiple anomalies earmarked for deeper aircore (AC) drilling.

READ: Oklo Resources reveals shallow, high-grade drilling results from Kouroufing South

Oklo managing director Simon Taylor said: “These new shallow geochemical results highlight the potential for additional gold-bearing structures along favourable northeast and northwest trends, complementing the recent greenfields discovery within the main Kouroufing gold corridor which has already yielded a number of significant gold intersections from AC drilling.

“Planning is underway for a program of follow-up AC drilling on a number of the higher priority geochemical and IP geophysical targets.”

Best composite Kouroufing South intersections include 11 metres at 1.09 g/t from 7 metres, 6 metres at 6.97 g/t from 7 metres, 4 metres at 3.59 g/t from surface, 6 metres at 1.12 g/t from surface and 4 metres at 1.09 g/t from 12 metres.

READ: Oklo Resources delivering results from gold assets with $5 million drill campaign

The auger holes were drilled to an average hole depth of 15 metres at 100-metre centres on 400-metre spaced lines.

Three composite samples of variable thickness were collected from each hole representing the laterite, transition and saprolite horizons.

READ: Oklo advances $5 million gold drilling program in Mali

In aggregate results have defined a further 5.5 kilometres of gold anomalism in multiple trends with substantial composite grades including 6 metres at 6.96 g/t, 6 metres at 1.12 g/t, 11 metres at 1.09 g/t, 4 metres at 1.09 g/t and 4 metres at 3.59 g/t.

The Kouroufing project covers an area of 90.7 square kilometres within the Kenieba Inlier to the east of the Senegal Mali Shear Zone.

Oklo’s $5 million 2019 exploration program is continuing with further assay results pending from AC, reverse circulation and diamond core drilling at Kouroufing and with 2,844 metres of a planned 16,000 metres of drilling completed at the Dandoko project.

]]>
Wed, 17 Apr 2019 15:36:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218733/oklo-resources-identifies-gold-trends-over-4-kilometres-in-length-at-kouroufing-in-mali-218733.html
<![CDATA[News - Oklo Resources reveals shallow, high-grade gold drilling results from Kouroufing South ]]> https://www.proactiveinvestors.com.au/companies/news/218367/oklo-resources-reveals-shallow-high-grade-gold-drilling-results-from-kouroufing-south-218367.html Oklo Resources Ltd (ASX:OKU) has received further encouraging assay results from the Kouroufing Project, 20 kilometres southeast of its flagship Dandoko Project in west Mali.

The program of infill and step-out aircore (AC) drilling was recently completed over the southern portion of the 6 kilometre-long auger gold corridor.

Significant shallow gold intersections include:

• 16 metres at 11.07 g/t gold from 4 metres; including 4 metres at 42.2g/t gold from 12 metres (2 metres at 29.9 g/t gold and 2 metres at 54.5 g/t gold);
• 2 metres at 12.6 g/t gold from 18 metres; and
• 20 metres at 1.26 g/t gold from 2 metres; including 2 metres at 7.61 g/t gold from 18 metres.

Oklo’s Gold Projects in west Mali

The AC drilling forms part of Oklo’s $5 million 2019 exploration program, with significant progress already made at both the Kouroufing and Dandoko Gold Projects.

Oklo managing director Simon Taylor said: “We are particularly impressed by these AC results from Kouroufing South both in terms of width and grade, which have the hallmark of a new and significant zone of bedrock gold mineralisation emerging.

READ: Oklo Resources delivering results from gold assets with $5 million drill campaign

“Oklo’s technical team is now integrating all the drill results with the IP geophysical data to assist in the understanding of the structural controls to this greenfields discovery.

“In the meantime, we continue our aggressive campaign of drilling underway on a range of targets along the Dandoko gold corridor which we hope will deliver a steady flow of positive news while planning advances on the next phase of drilling at Kouroufing.”

Ongoing work programs: Kouroufing Project

The planned auger drilling for the 2019 field season exploring for extensions to the 6-kilometre gold corridor has been completed (total of 1,558 holes for 22,650 metres) with assays pending. Field mapping is ongoing.

Dandoko Project

Drilling has recommenced at Dandoko with over 16,000 metres of combined AC and reverse circulation (RC) drilling underway at Seko, Dabia and Sory and other targets along the 12-kilometre gold corridor.

This drilling will include traverses designed to explore for potential gold mineralisation between SK2 and SK3

Kossaya and Sari projects

First pass auger drilling over the Kossaya and Sari Projects has now been completed (total of 925 holes for 12,248 metres) and the four auger rigs demobilised.

Assay results will be progressively released in coherent blocks of data as they become available.

]]>
Thu, 11 Apr 2019 11:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218367/oklo-resources-reveals-shallow-high-grade-gold-drilling-results-from-kouroufing-south-218367.html
<![CDATA[News - Oklo Resources delivering results from gold assets with $5 million drill campaign ]]> https://www.proactiveinvestors.com.au/companies/news/217065/oklo-resources-delivering-results-from-gold-assets-with-5-million-drill-campaign-217065.html Oklo Resources Ltd (ASX:OKU) (FRA:JYA) specialises in gold exploration in Mali, West Africa. It is run by managing director and CEO Simon Taylor and country manager and executive director Dr Madani Diallo. The company's board has been chaired by Simon O’Loughlin since December 2018 after Michael Fotios retired from the post.

MD Taylor is a geologist and former resource analyst who has more than 25 years of resource sector experience. He previously headed up Aguia Resources Limited (ASX:AGR).

Country manager Diallo is a Mali Knight of National Order who has more than 30 years of experience in African exploration. He is vice-president of Mali Chamber of Mines, president of the Association of Geoscientists in Mali and a director of UBA bank in Burkina Faso.

Lawyer and accountant O’Loughlin serves on a number of boards and is the founding member of O’Loughlins Lawyers, where he continues to serve as a consultant. He has been involved with the resources industry for many years, raising capital, organising strategic alliances and taking companies through public listings.

What does Oklo Resources own?

The key assets are the flagship Dandoko Gold Project and its various prospects, such as Seko, and Kouroufing Gold Project, both in Mali.

The 134 square kilometre Dandoko project in west Mali is along the Senegal Mali Shear Zone (SMSZ) about 30 kilometres east of B2Gold Corp’s (TSE:BTO) 7.1 million ounce Fekola mine deposit in southwest Mali and 50 kilometres south-southeast of Barrick Gold Corp's  (NYSE:GOLD) 12.5 million ounce Loulo mine deposit in western Mali.

Loulo mine, which Barrick picked up from Randgold Resources Ltd in the companies’ December 2018 merger, is one of two shear-hosted Birimian-style mesothermal gold deposits the larger company holds on the Loulo-Gounkoto complex in Mali, with the other being the 5.4 million ounce Gounkoto deposit.

Also along the shear zone are a number of smaller deposits, such as BCM Investments subsidiary Algom Resources’ 3.8 million ounce Tabakoto mine deposit and plant in southwest Mali, near the border with Senegal, and Iamgold Corp’s (NYSE:IAG) (TSE:IMG) 2.6 million ounce Boto Gold Project in eastern Senegal.

Line clearing has taken place this quarter at Dandoko to allow a multipurpose rig to access the site for follow-up aircore, RC and diamond drilling at Seko, Dabia, Sory and other targets along the project’s 12-kilometre gold corridor.

These are to follow RC intersections from Sory, 1.5 kilometres south of Seko, which included 44 metres grading 1.37 g/t gold from 33 metres and aircore intersections from Dabia, 1.5km north of Seko, such as 25 metres grading 2.5 g/t from 65 metres.

Oklo’s secondary asset is the 90.7 square kilometre Kouroufing project, on another northeast splay common to the area.

Kouroufing adjoins Dandoko, as does Oklo’s Moussala, Kandiole, Sari and Kossaya projects that are also within the Kenieba Inlier of western Mali.

Oklo now holds more than 500 square kilometres of ground and has 65% of the Kouroufing project, which it has been farming into a full stake since October 2018.

Kouroufing is an underexplored project where the company discovered a 6-kilometre long gold corridor with an auger drilling program in September 2018.

The best composite intersections at the time were 8 metres at 14.35 g/t gold from 5 metres, 5 metres at 2.18 g/t gold from 7 metres and 15 metres at 1.25 g/t gold from surface.

Oklo’s first aircore hits of a 1.5-kilometre portion of the corridor were unveiled in late January, with highlights of the shallow gold intersections being 40 metres at 1.02 g/t from surface, 34 metres at 1.12 g/t gold from 2 metres that ended in mineralisation; 34 metres at 1.06 g/t from surface, including 2 metres at 7.31 g/t from 24 metres; and 8 metres at 10.58 g/t from 2 metres, including 2 metres at 39.7 g/t from 6 metres.

Assays are pending from the secondary project after 5,084 metres of aircore drilling in 160 holes and 177 metres of diamond drilling in one hole at Kouroufing.

Auger drilling of 22,488 metres in 1,548 holes has taken place at the project, with assays pending from 1,324 holes.

Reverse circulation (RC) drilling is now underway at Kouroufing, with seven holes and 1,100 metres planned.

Auger drilling results are also expected from Sari and Kossaya projects, two more projects in Oklo’s portfolio of west and south Mali projects on highly-prospective Proterozoic Birimian greenstone belts.

The latest drilling campaign is expected to drill 69,000 metres over the 2018-19 season.

The company was well-funded with $12.6 million cash at the end of the December quarter of 2018.

Oklo’s March quarterly report is expected at the end of April 2019, with the company previously reporting it expected $3.9 million of cash outflows in the March quarter of 2019.

The budgeted March quarter exploration and evaluation spend was $3.5 million.

Inflection points

Aircore, auger and RC drilling results from Kouroufing project

Aircore, auger and RC drilling results from Dandoko project and its Seko, Dabia and Sory targets

Auger drilling results from Sari and Kossaya projects

Progression of the Kouroufing project farm-in

Project milestones, acquisitions and divestments

Strategic partnerships and mergers & acquisitions activity

Oklo managing director & CEO Simon Taylor highlights prime territory in Mali

“We started with Dandoko, two and three years ago, it’s in west Mali, east of the west Senegal Mali Shear,” Oklo managing director and CEO Simon Taylor told Proactive Investors two weeks ago.

“You’ve got Fekola to the west of us, which is B2Gold, you’ve got Barrick — it was Randgold — to the northwest of us; big deposits, very underexplored.

“We had instant success at Dandoko, with some fantastic numbers out of Seko, mainly in oxide at this stage, and we’re now looking for that high-grade primary source of the oxide there.

“In the last 18 months we’ve added to our portfolio … and we’ve got another exciting discovery we’ve made at Kouroufing which is east of Dandoko.”

 

]]>
Sun, 24 Mar 2019 20:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217065/oklo-resources-delivering-results-from-gold-assets-with-5-million-drill-campaign-217065.html
<![CDATA[News - Oklo Resources advances $5 million gold drilling program in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/216698/oklo-resources-advances-5-million-gold-drilling-program-in-mali-216698.html Oklo Resources Ltd (ASX:OKU) (FRA:JYA) is making good progress with $5 million drilling campaigns at its gold projects in Mali, West Africa.

The company reported that it was “progressing well”, having undertaken concurrent activities at its Dandoko and Kouroufing projects.

Oklo has also been engaging in reconnaissance auger drilling on regional targets at its Kouroufing, Kossaya and Sari projects.

READ: Oklo Resources has 'pipeline of projects' and 'soon to have 7 drill rigs going'

Assays are pending after 5,084 metres of aircore drilling in 160 holes and 177 metres of diamond drilling in 1 hole at Kouroufing.

Auger drilling of 22,488 metres in 1,548 holes has also taken place at the project, with assays pending from 1,324 holes.

Reverse circulation (RC) drilling is now underway at Kouroufing, with the first of seven planned holes for 1,100 metres.

Last week Oklo's managing director & CEO Simon Taylor told Proactive Investors he expected short-term news flow on Dandoko and its Seko prospect.

Today the company said a contract had been awarded for Dandoko drilling, with work expected to start in two weeks.

Line clearing has been undertaken at Dandoko to allow a multipurpose rig to access the site for follow-up aircore, RC and diamond drilling at Seko, Dabia, Sory and other targets along the project’s 12-kilometre gold corridor.

These will follow RC intersections from Sory, 1.5 kilometres south of Seko, which included 44 metres grading 1.37 g/t gold from 33 metres and aircore intersections from Dabia, 1.5km north of Seko, such as 25 metres grading 2.5 g/t from 65 metres.

Dandoko is about 30 kilometres east of B2Gold Corp’s (TSE:BTO) (FRA: 5BG) 7.1 million ounce Fekola mine and 50 kilometres south-southeast of Barrick Gold Corp's (NYSE:GOLD) (TSE:ABX) (ETR:ABR) 12.5 million ounce Loulo mine.

READ: Oklo Resources confirms extensions to Seko prospect at Mali gold project

Four auger drill rigs are running at Sari and Kossaya projects, with assays pending for 8,950 metres of drilling completed in 639 holes.

Sydney-based Oklo has gold, uranium and phosphate projects in Mali and is focused on eight key projects covering 1,400 square kilometres on the African country’s prospective gold belts.

The company is led by Dr Madani Diallo who has been involved in discoveries totalling more than 30 million ounces of gold.

Oklo had $12.6 million cash at the end of December quarter 2018 and expected to spend $3.9 million in March quarter 2019.

The exploration and evaluation spend was tipped to be $3.5 million.

]]>
Mon, 18 Mar 2019 20:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216698/oklo-resources-advances-5-million-gold-drilling-program-in-mali-216698.html
<![CDATA[Media files - Oklo Resources has 'pipeline of projects' and 'soon to have 7 drill rigs going' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12564/oklo-resources-has--pipeline-of-projects--and--soon-to-have-7-drill-rigs-going--12564.html Tue, 12 Mar 2019 16:12:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12564/oklo-resources-has--pipeline-of-projects--and--soon-to-have-7-drill-rigs-going--12564.html <![CDATA[News - Oklo Resources confirms extensions to Seko prospect at Mali gold project ]]> https://www.proactiveinvestors.com.au/companies/news/215869/oklo-resources-confirms-extensions-to-seko-prospect-at-mali-gold-project-215869.html Oklo Resources Ltd (ASX:OKU) has confirmed extensions to the Seko gold prospect in recent diamond drilling (DD) at its Dandoko Gold Project in west Mali.

To date, extensive gold anomalies have been outlined by auger drilling at the project with a 12-kilometre gold corridor discovered 24 months ago.

Three diamond holes were drilled with the aim of providing alteration, structural and lithological information to assist in planning the next phase of drilling.

READ: Oklo Resources’ drilling continues to intersect shallow gold at Kouroufing corridor

Oklo Resources managing director Simon Taylor said: “We are encouraged by the latest results from Seko, all DD holes intersected significant alteration hosting variable widths of gold mineralisation in fresh rock below the oxide material.

“The drilling has also highlighted that the system remains open at depth and along strike with further drilling to test for extensions and high-grade shoot development.

“At SK2 the presence of altered breccia with sulphide zones in the deepest hole drilled to date provides guidance to test for potential shoots and feeder zones within the primary zone.

“As drilling recommences at Seko, Oklo will have a total of seven drill rigs in operation across its west Mali projects, providing a pipeline of sustained news flow for the coming months.”

READ: Oklo Resources intersects wide zones of shallow gold in Kouroufing drilling

Within the SK3 gold system, a hole drilled on the northernmost line intersected two wide zones of gold mineralisation - 30 metres at 1.32 g/t from 126 metres and 41 metres at 0.61 g/t from 216 metres.

Another hole drilled in the south of SK3 intersected a narrow zone of high-grade gold mineralisation and returned 5 metres at 3.33 g/t from 119 metres including 1 metre at 10.50 g/t from 122 metres.

Gold grades up to 2.45g/t

At SK2 hole a hole intersected altered breccia with sulphides hosting gold grades of up to 2.45 g/t gold within wide, low-grade zones including 14 metres at 0.59 g/t from 274 metres and 11 metres at 0.57 g/t from 293 metres.

Further drilling is planned to test for the down plunge extension of the high-grade gold shoot.

Further drilling

A multi-purpose drill rig is being mobilised to the Dandoko project to continue diamond, reverse circulation and aircore drilling at the Seko, Dabia and Sory prospects.

This will bring the total number of drill rigs operating on Oklo’s projects to seven, including a multi-purpose program of DD, RC and AC drilling underway at Kouroufing and a further five auger rigs testing regional targets across Oklo’s west Mali portfolio as part of the company’s $5 million 2019 field season drilling.

Kouroufing project, at which a 6-kilometre gold corridor was discovered during the 2018 field season, is 20 kilometres southeast of Dandoko and both are within the Kenieba Inlier of west Mali.

This region contains B2Gold Corp’s (TSE:BTO) 7.1-million-ounce Fekola project and Barrick Gold Corp’s (NYSE:GOLD) 12.5 million ounce Loulo mine.

Oklo holds around 500 square kilometres of highly prospective ground in this emerging world-class gold region.

]]>
Wed, 06 Mar 2019 12:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215869/oklo-resources-confirms-extensions-to-seko-prospect-at-mali-gold-project-215869.html
<![CDATA[News - Oklo Resources’ drilling continues to intersect shallow gold at Kouroufing corridor ]]> https://www.proactiveinvestors.com.au/companies/news/214833/oklo-resources-drilling-continues-to-intersect-shallow-gold-at-kouroufing-corridor-214833.html Oklo Resources Ltd (ASX:OKU) has received further encouraging results from drilling at the Kouroufing Project, 20 kilometres southeast of its flagship Dandoko Project in west Mali.

The results form part of Oklo’s $5 million drilling program, with significant progress already made at both Kouroufing and Dandoko Gold Projects.

Oklo’s gold projects in west Mali

Kouroufing North

Oklo has received first assay results from wide-spaced shallow aircore (AC) holes drilled along five traverses testing 1.7 kilometres over the northern portion of the 6-kilometre-long gold corridor.

Importantly, results confirm the potential for further bedrock gold discoveries with numerous +1g/t gold intersections and wide zones of anomalous gold mineralisation encountered.

READ: Oklo Resources intersects wide zones of shallow gold in Kouroufing drilling

Best results include:
• 6 metres at 29.41 g/t gold from 26 metres including 2 metres at 77.40 g/t gold from 26 metres; and
• 8 metres at 1.90 g/t gold from 18 metres; including 2 metres at 6.64 g/t gold from 18 metres.

Kouroufing South

Oklo recently completed an induced polarisation geophysical survey over the Kouroufing Gold Corridor.

Results from the ground survey have outlined a series of strong resistivity and chargeability anomalies coincident with the significant AC gold intersections.

The resistivity and chargeability anomalies may represent both alteration (silica) and sulphides and will be further tested with AC and diamond drilling.

Drilling progress and next steps

At Kouroufing, five auger drill rigs continue to test the northern and southern extensions to the 6 kilometre gold corridor, including potential extensions north into Oklo’s Kossaya Project.

Line clearing is underway to allow access for a multipurpose rig to commence follow up AC, reverse circulation (RC) and diamond drilling.

READ: Oklo Resources ramps up $5 million gold drilling program in Mali

At Dandoko, all assay results are pending from the recently completed three deep diamond holes (for 942 metres) at Seko and single RC hole (for 180 metres) at Dabia under a recently developed artisanal working.

Further RC and diamond holes are planned at Seko 2 and 3 upon return of the multipurpose drill rig to site.

]]>
Tue, 19 Feb 2019 13:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214833/oklo-resources-drilling-continues-to-intersect-shallow-gold-at-kouroufing-corridor-214833.html
<![CDATA[News - Oklo Resources intersects wide zones of shallow gold in Kouroufing drilling ]]> https://www.proactiveinvestors.com.au/companies/news/213567/oklo-resources-intersects-wide-zones-of-shallow-gold-in-kouroufing-drilling-213567.html Oklo Resources Ltd (ASX:OKU) has intersected wide zones of shallow gold in drilling at its Kouroufing Gold Project in west Mali.

More than 30,000 metres of drilling has been completed in a $5 million program focusing on Kouroufing and Oklo’s flagship Dandoko project since mid-November.

The drilling completed to date comprises 1,441 geochemical auger holes and 203 aircore (AC) holes with assays received from 224 auger and 97 AC holes.

Results from the Dabia prospect within the Dandoko project, comprising three deep diamond holes and one reverse circulation hole, are pending.

Oklo's gold project's in west Mali 

  READ: Oklo Resources ramps up $5 million gold drilling program in Mali

Drilling at Kouroufing tested a 1.5-kilometre portion of the 6-kilometre-long auger gold corridor discovered last year.

The results demonstrate encouraging potential for new bedrock discoveries along the highly-prospective corridor.

Featured shallow gold intersections include:

34 metres at 1.12 g/t gold from 2 metres, ending in mineralisation;

40 metres at 1.02 g/t from surface;

34 metres at 1.06 g/t from surface, including 2 metres at 7.31 g/t from 24 metres;

8 metres at 10.58 g/t from 2 metres, including 2 metres at 39.7 g/t from 6 metres; and

12 metres at 1.24 g/t from 8 metres, including 2 metres at 5.89 g/t from 12 metres.

Wide zones of anomalous gold mineralisation intersected in other holes include: 20 metres at 0.67 g/t from 19 metres, including 6 metres at 1.61 g/t from 33 metres; and 42 metres at 0.62 g/t from 55 metres, including 2 metres at 5.68 g/t from 77 metres.

Both featured wide intersections ended in mineralisation.

READ: Oklo Resources targets gold extensions and anomalies in drilling at Mali projects

Geochemical auger drilling south of the recently-discovered Kouroufing gold corridor has identified further targets for drill testing.

Assays received to date have delineated a coherent gold trend of greater than one kilometre in length with maximum composite assays of 6.32 g/t, 3.32 g/t and 1.2 g/t gold.

Two auger drill rigs are continuing to test the northern and southern extensions to the 6-kilometre corridor, including potential extensions north into Oklo’s adjoining Kossaya project.

READ: Oklo Resources to start gold drilling program in Mali later this month

Dandoko and Kouroufing are within the Kenieba inlier of western Mali, about 30 kilometres east of B2Gold’s (TSE:BTO) 7.1-million-ounce Fekola project and 50 kilometres south-southeast of Randgold Resources Ltd’s (LON:RSS) 12.5-million-ounce Loulo mine.

Oklo holds about 500 square kilometres of highly prospective ground in this emerging gold region.

Oklo’s gold projects are concentrated in two key areas: west Mali (Dandoko, Moussala, Kouroufing, Kandiole and Socaf) and south Mali (Yanfolila, Kolondieba, Sirakourou and Solabougouda).

Both permit groups are located over the highly-prospective Proterozoic Birimian greenstone belts near a number of multi-million-ounce gold mining operations.

The company's total landholding in Mali covers about 1,400 square kilometres of largely unexplored ground.

]]>
Tue, 29 Jan 2019 21:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213567/oklo-resources-intersects-wide-zones-of-shallow-gold-in-kouroufing-drilling-213567.html
<![CDATA[News - Oklo Resources appoints Simon O’Loughlin as non-executive chairman ]]> https://www.proactiveinvestors.com.au/companies/news/211699/oklo-resources-appoints-simon-oloughlin-as-non-executive-chairman-211699.html Oklo Resources Ltd (ASX:OKU) has appointed Simon O’Loughlin as non-executive chairman of the company.

O’Loughlin is the founding member of O’Loughlins Lawyers, an Adelaide based medium- sized, specialist commercial law firm.

He also holds accounting qualifications and has had extensive involvement with companies in the resources sector.

O’Loughlin has been involved in the listing and back-door listing of numerous companies on the ASX and the National Stock Exchange.

He is currently the chairman of Petratherm Ltd (ASX:PTR) and Chesser Resources (ASX:CHZ) and a non-executive director of Bod Australia (ASX:BDA).

Oklo has advised that Michael Fotios has resigned from the board to attend to his other business interests and for personal reasons.

READ: Oklo Resources ramps up $5 million gold drilling program in Mali

The company’s 2019 field season is well underway with four drill rigs now in operation across its Dandoko and Kouroufing Projects in west Mali.

The $5 million drilling program consists of 35,000 metres of aircore, reverse circulation and diamond drilling and about 25,000 metres of low-cost shallow auger drilling.

Oklo’s Dandoko and Kouroufing Projects are about 30 kilometres east of B2Gold’s (TSE:BTO) 7.1 million ounces (Moz) Fekola Mine and 50 kilometres southeast of Randgold’s (LON:RRS) 12.5 Moz Loulo Mine.

]]>
Mon, 24 Dec 2018 12:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211699/oklo-resources-appoints-simon-oloughlin-as-non-executive-chairman-211699.html
<![CDATA[News - Oklo Resources ramps up $5 million gold drilling program in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/211361/oklo-resources-ramps-up-5-million-gold-drilling-program-in-mali-211361.html Oklo Resources Ltd’s (ASX:OKU) 2019 field season is well underway with four drill rigs now in operation across its Dandoko and Kouroufing Projects in west Mali.

The $5 million drilling program consists of 35,000 metres of aircore, reverse circulation and diamond drilling and about 25,000 metres of low-cost shallow auger drilling.

Oklo’s Dandoko and Kouroufing Projects are about 30 kilometres east of B2Gold’s (TSE:BTO) 7.1 million ounces (Moz) Fekola Mine and 50 kilometres southeast of Randgold’s (LON:RRS) 12.5 Moz Loulo Mine.

Location of Oklo’s gold projects in west Mali

The company currently holds about 500 square kilometres of highly prospective ground in this emerging world-class gold region.

Oklo managing director Simon Taylor said: “We are pleased to announce a ramp-up of activity at Seko with diamond drilling now underway, the drilling is testing for strike and depth extensions to the known mineralisation.

“The arrival of the diamond drill rig complements the aircore and two auger rigs which have been operating at Kouroufing since November.

READ: Oklo Resources to start gold drilling program in Mali later this month

“First pass, deeper aircore drill testing of the Kouroufing auger gold corridor is now well advanced whilst the two auger rigs continue to test the northern and southern extensions of the identified 6 kilometres gold zone.

“We look forward to announcing a steady flow of results over the coming months.”

Diamond Drilling (DD) has now commenced at Seko (Dandoko Project) targeting extensions to previously reported gold mineralisation at SK3 and SK2.

An initial program of three DD holes with reverse circulation pre-collars to about 300 metres depth is planned.

The objective of the DD drilling will be to test for extensions to the north and south at SK3, including follow-up testing of the northern-most hole that intersected 20 metres at 3.03 g/t gold.

READ: Oklo Resources’ drilling elevates Dandoko to a potential district-scale gold discovery

Additionally, the DD drilling at SK2 will test for down plunge extensions to the known high-grade mineralisation and other structural concepts developed over the wet season.

Drilling progress at the Kouroufing Project is well advanced with one aircore and two auger drill rigs currently operating.

READ: Oklo Resources grows gold discovery potential in Mali with Kouroufing Project acquisition

A total of 5,129 metres of the planned 9,600 metres deeper aircore program has been completed.

The auger drilling program is testing for northern and southern extensions to the 6 kilometres gold corridor at Kouroufing including potential extensions into Oklo’s adjoining Kossaya Project.

]]>
Tue, 18 Dec 2018 13:51:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211361/oklo-resources-ramps-up-5-million-gold-drilling-program-in-mali-211361.html
<![CDATA[News - Oklo Resources targets gold extensions and anomalies in drilling at Mali projects ]]> https://www.proactiveinvestors.com.au/companies/news/208966/oklo-resources-targets-gold-extensions-and-anomalies-in-drilling-at-mali-projects-208966.html Oklo Resources Ltd (ASX:OKU) has the drills spinning in a $5 million program for the new field season at its Dandoko and Kouroufing gold projects in west Mali.

Auger drills have started work at Kouroufing and a third aircore (AC) rig is expected on site later this month.

Reverse circulation (RC) and diamond drilling at Dandoko will begin in December.

READ: Oklo Resources to start gold drilling program in Mali later this month

The approved program for the 2019 field season comprises 35,000 metres of AC, RC and diamond drilling and about 25,000 metres of low-cost shallow auger drilling.

RC and diamond drilling will continue to test for strike and depth extensions to known mineralisation at the Seko gold discovery, including over 3,000 metres of diamond drilling.

The Sory and Dabia discoveries will be tested with RC and AC drilling while first-pass AC drilling will target other anomalies previously outlined by reconnaissance auger drilling along the under-explored 12-kilometre Dandoko gold corridor.

  READ: Oklo Resources grows gold discovery potential in Mali with Kouroufing Project acquisition

Oklo has also allocated a further 25,000 metres of regional auger drilling after low-cost reconnaissance auger drilling successfully outlined both the Dandoko and Kourofing gold corridors.

Auger drilling will test for extensions to the 6-kilometre corridor at Kouroufing, which remains open to the north and south and may include potential extensions into Oklo’s adjoining Kossaya project.

Dandoko and Kouroufing are within the Kenieba inlier of western Mali, about 30 kilometres east of B2Gold’s (TSE:BTO) 7.1-million-ounce Fekola project and 50 kilometres south-southeast of Randgold Resources Ltd’s (LON:RSS) 12.5-million-ounce Loulo mine.

Oklo holds about 500 square kilometres of highly prospective ground in this emerging gold region.

]]>
Sun, 11 Nov 2018 20:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208966/oklo-resources-targets-gold-extensions-and-anomalies-in-drilling-at-mali-projects-208966.html
<![CDATA[News - Oklo Resources to start gold drilling program in Mali later this month ]]> https://www.proactiveinvestors.com.au/companies/news/208823/oklo-resources-to-start-gold-drilling-program-in-mali-later-this-month-208823.html Oklo Resources Ltd (ASX:OKU) (FRA:JYA) will start a $5 million drilling program later this month as it continues to focus on its West African gold projects in Mali.

The company, which has a market capitalisation of $91.87 million, held $14.7 million cash at the end of the September 2018 financial quarter.

Oklo managing director Simon Taylor said last month the company planned to start the program in November, “focusing on our flagship Dandoko (Gold) Project with a small portion of the budget allocated to some of the regional targets including Kouroufing.

“We are hopeful that the upcoming field season will continue to deliver excellent results.”

 

Oklo reported in its September 2018 quarter report that the $5 million drilling budget had been approved by its board and its upcoming work program was expected to take six months to complete.

The company has more than 1,300 square kilometres of largely unexplored ground across Mali.

Oklo’s gold projects are concentrated in two key areas: west Mali (Dandoko, Moussala, Kouroufing, Kandiole and Socaf) and south Mali (Yanfolila, Kolondieba, Sirakourou and Solabougouda).

Both permit groups are located over the highly-prospective Proterozoic Birimian greenstone belts near a number of multi-million-ounce gold mining operations.

READ: Oklo Resources grows gold discovery potential in Mali with Kouroufing Project acquisition

The company raised $16.7 million in the 2017-18 financial year for its efforts and was “well set to capitalise on its strong position as it progresses into the 2019 field season” Oklo chairman Michael Fotios wrote in the company’s 2018 annual report published on September 28, 2018.

Fotios said: “The past year has seen our company continue to build a strong foundation on the back of previous results from 2017 and advance its vision of unearthing a major gold deposit in Mali, West Africa.”

Oklo’s significant shareholders include Resolute Mining Limited (ASX:RSG), which showed its confidence the company by upping its stake to 10.29% in August 2018.

On June 30, 2018, Blackrock Group was the company’s largest shareholder, holding 14.8%, followed by 1832 Asset Management LP (7.61%), Hawkstone Group (6.51%), Resolute (then 5.47%) and ACK Pty Ltd (5.46%).

There were 302,405,510 fully-paid ordinary shares at the time which could be moved in 2,000-share marketable parcels worth $500.

Oklo tenure in Mali 

Latest field program

Explorer Oklo’s upcoming December 2018 quarter drilling program is forecast to include 35 kilometres of diamond drilling (DD), reverse circulation (RC) drilling and aircore (AC) drilling at Seko prospect, Kouroufing and other prospects along Dandoko gold corridor.

Oklo stated in its September quarter report that $750,000, or 15%, of the budget would be dedicated to a 25,000-metre low-cost auger drilling program for regional exploration targets.

Seko prospect success at Dandoko project

Sydney-based explorer Oklo received final assay results from phase II shallow AC, deep RC and DD at the Seko prospect in the September 2018 quarter.

Seko is found at the company’s flagship 134 square kilometre Dandoko Gold Project.

The project is in the vicinity of west Mali’s world-class Kenieba Inlier gold deposits, just 30 kilometres from B2Gold Corp’s (TSE:BTO) (NYSEAMERICAN:BTG) (FRA:5BG) 5.15 million ounce operating gold mine Fekola and 50 kilometres from Randgold Resources Limited’s (LON:RRS) (FRA:RGR1) (OTCMKTS:RGORF) 12.5 million ounce Loulo Gold Mine.

Oklo used its latest quarterly to highlight the results from two anomalies — SK2 and SK3 — at Seko prospect.

READ: Oklo Resources to test prospective gold targets in Mali with $5 million drilling program

SK2 anomaly returned “exceptional high-grade gold” from DD holes, with highlights being: 7 metres grading 16.24 g/t from the surface, including 2 metres at 46.75 g/t from 4 metres; and 40 metres grading 10.66 g/t from 25 metres, including 10 metres at 23.82 g/t from 25 metres and 9 metres at 11.51 g/t from 43 metres.

AC drilling 400 metres north of SK2 identified a new mineralised gold zone that featured 11 metres grading 1.79 g/t from 31 metres, including 2 metres at 5.01 g/t from 40 metres, with the hole then ending in mineralisation.

Oklo said SK3 anomaly “results demonstrate the potential for further discoveries at SK3 with a significant new intersection from the most northern line of drilling, offset 100 metres to the east of the main SK3 trend.”

A highlight gold intersection from the anomaly was 20 metres grading 3.03 g/t from 209 metres, including 3 metres at 10.24g/t from 226 metres with the hole then ending in mineralisation.

The company reported a number of significant intersections that it drilled in holes while testing for extensions to the broad zone of mineralisation at SK3.

These intersections included 28 metres grading 2.2 g/t from 155 metres, including 6 metres at 4.62 g/t from 142 metres and 27 metres at 1.35 g/t from 63 metres.

Oklo reported it achieved “positive metallurgical results from bottle-roll cyanide leach analysis on oxide and primary (fresh rock) samples tested from the Seko prospect” during the quarter.

Yet-to-be explored by Oklo, the Kandiole sud project near its flagship Dandoko project

Project acquisitions

Oklo also inked deals in the September 2018 quarter to pick up 100% of the Sari and Kossaya projects which take in an 84 square kilometre expanse and are found within 5 kilometres of Dandoko project in west Mali.

Last financial year the company first picked up the 91 square kilometre Kouroufing earn-in project 20 kilometres southeast of Dandoko.

Oklo also fully acquired the 116 square kilometre Kandiole sud project 5 kilometres southwest of Dandoko project and 10 kilometres southeast of B2Gold’s Fekola mine in April.

The company is yet to explore this project.

The Dandoko gold corridor extends for 12 kilometres in west Mali and includes Dandoko and Moussala projects, and the Dabia and Sory prospects found near Dandoko's Seko prospect

Dandoko gold corridor

Oklo undertook drilling at the Sory and Dabia prospects, 1.5 kilometres south and north of Seko prospect, on the Dandoko gold corridor in the September 2018 quarter.

The company said, “Drilling results further confirm the Dandoko gold corridor as a district-scale trend with the potential to host further significant gold discoveries.”

First RC drilling at Sory showed up a 44-metre gold intersection grading 1.37 g/t from 33 metres, including 5 metres at 2.36 g/t from 33 metres and 14 metres at 2.46 g/t from 63 metres.

Follow-up AC drilling at Sory delivered 35 metres grading 1 g/t from 19 metres, including 4m at 3.4 g/t from 47 metres.

READ: Oklo Resources’ drilling elevates Dandoko to a potential district-scale gold discovery

At Dabi, shallow AC drilling delivered gold intersections such as 25 metres at 2.5g/t from 65 metres, including 4 metres at 5.03 g/t from 68 metres, 1 metre at 10.2 g/t from 78 metres and 2 metres at 6.59g/t from 84 metres.

Another highlight Dabi intersection featured 5 metres at 4.85 g/t from 31 metres, including 4 metres at 5.03 g/t from 68 metres.

Auger drill holes at Kouroufing Gold Project

Kouroufing project auger drilling

Oklo believes initial results from an auger drilling program at its earn-in Kouroufing Gold Project “demonstrate the potential for further discoveries, with multiple walk-up drill targets identified.”

The company reported last month it had exercised an option to acquire 100% of the project from Research Permit number PR 17/689 owner Kouroufing Gold S.A.

Oklo spent a €117,000 minimum in the first year on the permit, then issued 648,641 fully paid shares worth 70,000,000 FCFA (about $167,483) to acquire a 65% stake, as announced on October 25, 2018.

The remaining 35% is to be transferred a year after the option exercise.

Oklo uncovered a 6-kilometre gold corridor at Kouroufing with “extensive” anomalies during a September 2018 first-pass auger program.

The company reported numerous shallow anomalies were more than a metre in length, grading more than 1 g/t gold.

Oklo’s best composite gold intersections were: 8 metres grading 14.35 g/t from 5 metres; 5 metres grading 2.18g/t from 7 metres; and 15 metres grading 1.25 g/t from surface.

If Oklo applies for an exploitation licence it will grant Kouroufing a 5% equity interest in the mining licence and a 1% net smelter return royalty.

Kouroufing can then sell its equity interest in the licence back to Oklo for US$1 million cash.

]]>
Thu, 08 Nov 2018 17:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208823/oklo-resources-to-start-gold-drilling-program-in-mali-later-this-month-208823.html
<![CDATA[News - Oklo Resources grows gold discovery potential in Mali with Kouroufing Project acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/207799/oklo-resources-grows-gold-discovery-potential-in-mali-with-kouroufing-project-acquisition-207799.html Oklo Resources Ltd (ASX:OKU) has exercised its option to acquire 100% ownership of the Kouroufing Project in Mali.

The acquisition is central to the company’s broader strategy to acquire a significant landholding within the Birimian gold belt in western Mali.

Oklo has already returned outstanding results from initial shallow geochemical auger drilling at the Kouroufing Project.

READ: Oklo Resources discovers gold corridor in initial drilling at Kouroufing Project

The best composite intersections include 8 metres at 14.35 g/t gold from 5 metres, 5 metres at 2.18 g/t gold from 7 metres and 15 metres at 1.25 g/t gold from surface.

Initial results at Kouroufing demonstrate the potential for further discoveries, with multiple walk-up drill targets identified and to date, only 25% of the tenement tested by auger drilling.

Kouroufing Gold Project, location of auger drill holes and max gold in hole values and contours

Oklo managing director Simon Taylor said: “The company was thrilled to uncover a 6 kilometres long gold corridor at Kouroufing as the project adds significant value to our portfolio and demonstrates the potential for further discoveries.

“A $5 million drilling program is planned to commence in November focusing on our flagship Dandoko Project with a small portion of the budget allocated to some of the regional targets including Kouroufing, we are hopeful that the upcoming field season will continue to deliver excellent results.”

READ: Oklo Resources to test prospective gold targets in Mali with $5-million drilling program

Oklo currently holds about 500 square kilometres of highly prospective ground in the Birimian gold belt with the Kouroufing project located only 20 kilometres southeast of its flagship Dandoko Project.

The Kouroufing Project covers an area of 90.7 square kilometres within the Kenieba Inlier to the east of the regionally significant Senegal Mali Shear Zone (SMSZ).

The SMSZ and associated northeast-trending splay structures are spatially related to several major gold projects including Fekola - 5.2 million ounces (Moz) gold, Loulo - 12.5 Moz gold, Gounkoto - 5.4 Moz gold, Yatela - 3 Moz gold, Sadiola - 15 Moz gold and Sabodala - 10 Moz gold.

]]>
Thu, 25 Oct 2018 12:35:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207799/oklo-resources-grows-gold-discovery-potential-in-mali-with-kouroufing-project-acquisition-207799.html
<![CDATA[News - Oklo Resources to test prospective gold targets in Mali with $5-million drilling program ]]> https://www.proactiveinvestors.com.au/companies/news/207617/oklo-resources-to-test-prospective-gold-targets-in-mali-with-5-million-drilling-program-207617.html Oklo Resources Ltd (ASX:OKU) has received board approval to begin a $5 million drilling program in mid-November focused on gold exploration assets at its Dandoko Project in west Mali.

The 35,000-metre program will consist of diamond (DD), reverse circulation (RC) and aircore (AC) drilling across a number of targets including Seko, Dandoko corridor and Kouroufing.

Regional exploration targets have been allocated 15% of the budget, to be explored through 25,000 metres of low-cost auger drilling.

The company is fully-funded for the drilling with cash reserves of about $14.6 million.

READ: Oklo Resources' drilling elevates Dandoko to a potential district-scale gold discovery

Oklo managing director Simon Taylor said with the wet season coming to an end the company was eager to get drilling underway.

He said: "All results from the last campaign have been received.

"Data obtained from diamond drilling has enabled formative work on structural and geological modelling to assist in improved drill targeting for the upcoming field season.

"With this new knowledge we look forward to seeing the positive results continue."

  READ: Oklo Resources discovers gold corridor in initial drilling at Kouroufing Project

RC and DD drilling will continue to test for strike and depth extensions to known mineralisation at the Seko discovery, including over 3,000 metres of DD drilling.

Drilling during the previous season delivered an intercept of 20 metres at 3.03 g/t gold beyond known mineralisation at Seko.

The Dabia and Sory discoveries along the 12-kilometre Danoko gold corridor will be followed up with further RC and AC drilling.

These prospects previously delivered grades up to 16 g/t and 13.3 g/t gold, respectively.

First-pass AC drilling will also target other anomalies outlined by previous reconnaissance auger drilling along the under-explored corridor.

READ: Oklo Resources' drilling reveals high-grade gold and a new mineralised zone in Mali

Auger drilling will test for extensions to the newly-identified 6-kilometre gold corridor at Kouroufing, which remains open to the north and south including potential extensions into Oklo's Kossaya Project.

Both the Dandoko and Kouroufing gold corridors were previously identified using low-cost reconnaissance auger drilling.

READ: Oklo Resources drill results show potential of Seko's SK3 target

Dandoko is within the Kenieba inlier of western Mali and lies 30 kilometres east of B2Gold's 5.15-million-ounce Fekola Project and 50 kilometres south-southeast of Randgold's 12.5-million-ounce Loulo Mine.

Oklo's large landholding covers more than 1,500 square kilometres and consists of eight gold projects across some of Mali's most prospective gold belts.

]]>
Mon, 22 Oct 2018 21:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207617/oklo-resources-to-test-prospective-gold-targets-in-mali-with-5-million-drilling-program-207617.html
<![CDATA[News - Oklo Resources’ drilling elevates Dandoko to a potential district-scale gold discovery ]]> https://www.proactiveinvestors.com.au/companies/news/205175/oklo-resources-drilling-elevates-dandoko-to-a-potential-district-scale-gold-discovery-205175.html Oklo Resources Ltd (ASX:OKU) has received final assays from phase II drilling confirming significant gold mineralisation at the Sory and Dabia prospects at its Dandoko Gold Project in Mali.

Highlight results include:

• 44 metres at 1.37 g/t gold from 33 metres including 5 metres at 2.36 g/t gold from 33 metres;
• 25 metres at 2.50 g/t gold from 65 metres including 4 metres at 5.03 g/t gold from 68 metres; and
• 5 metres at 4.85 g/t gold from 31 metres.

 

Oklo managing director Simon Taylor said: “Results from the phase II drill program have elevated the Dandoko Gold corridor to a district scale discovery with significant gold mineralisation now confirmed to the North (Dabia) and South (Sory) of Seko.

“This good news builds momentum for a possible regional scale gold camp with the recent identification of the Kouroufing gold corridor providing a second district scale prospect for the company.

“Compilation of these new and previously announced results are being finalised and we hope to be able to mobilise in mid to late October with a new drill program, following the end of the wet season.”

READ: Oklo Resources discovers gold corridor in initial drilling at Kouroufing Project

Oklo recently identified a gold corridor at the Kouroufing Project in Mali from first pass auger drilling.

The shallow geochemical drilling revealed a 6 kilometre long corridor with numerous gold anomalies of over one kilometre in length and grading over 1 g/t gold.

Taylor added: “The unique position of having a possible regional scale gold camp with two district scale projects concludes a very successful 2017/18 field season and provides a pathway to succeed with our 2019 program”

]]>
Wed, 19 Sep 2018 11:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205175/oklo-resources-drilling-elevates-dandoko-to-a-potential-district-scale-gold-discovery-205175.html
<![CDATA[News - Oklo Resources discovers gold corridor in initial drilling at Kouroufing Project ]]> https://www.proactiveinvestors.com.au/companies/news/204686/oklo-resources-discovers-gold-corridor-in-initial-drilling-at-kouroufing-project-204686.html Oklo Resources Ltd (ASX:OKU) has received first-pass auger drilling results from its 690-hole program at its Kouroufing Project in western Mali.

The shallow geochemical drilling revealed a 6 kilometre gold corridor with numerous gold anomalies of over one kilometre in length and grading over 1 g/t gold.

The best intersections included 8 metres at 14.35 g/t gold from 5 metres, 5 metres at 2.18 g/t gold from 7 metres and 15 metres at 1.25 g/t gold from surface.

READ: Oklo Resources’ drilling reveals high-grade gold and a new mineralised zone in Mali

Oklo’s managing director Simon Taylor said: “The fact that relatively shallow and inexpensive first pass auger drilling has identified a 6 kilometre long corridor of high-grade gold anomalies is a great outcome that should excite our shareholders.

“While the main focus remains on our flagship Dandoko Project, the company will pursue this opportunity with further drilling in the coming season.

“The Kouroufing result validates the Company’s strategy of acquiring a portfolio of highly prospective licences in a globally significant region for gold discovery, and systematically testing them.

“The company now has multiple opportunities for a large-scale discovery in Western Mali.”

Drilling part of the phase II program, assays pending

The 690 hole, 10,210-metre auger geochemical program covering a quarter of the 90.7 square kilometre Kouroufing Project is part of Oklo’s phase II drill program.

The phase II program which is now complete also included 31,706 metres focused on the flagship Dandoko Project.

Assay results remain pending for 4 RC holes at the Sory prospect and 149 aircore holes at Dabia and Sory.

]]>
Wed, 12 Sep 2018 11:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204686/oklo-resources-discovers-gold-corridor-in-initial-drilling-at-kouroufing-project-204686.html
<![CDATA[News - Oklo Resources’ drilling reveals high-grade gold and a new mineralised zone in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/204015/oklo-resources-drilling-reveals-high-grade-gold-and-a-new-mineralised-zone-in-mali-204015.html Oklo Resources Ltd (ASX:OKU) has received significant high-grade gold results from its phase II drill program within the Dandoko Project in Mali.

Exceptional high-grade gold results from diamond drilling (DD) at Seko Anomaly SK2, include:
• 7 metres at 16.24 g/t gold from surface; including 2 metres at 46.75 g/t gold from 4 metres; and
• 40 metres at 10.66 g/t gold from 25 metres; including 10 metres at 23.82 g/t gold from 25 metres.

READ: Oklo Resources drill results show potential of Seko’s SK3 target

Notably, aircore (AC) drilling 400 metres to the north of SK2 has identified a new mineralised zone with results including:

• 11 metres at 1.79 g/t gold from 31 metres with the hole ending in mineralisation; including 2 metres at 5.01 g/t gold from 40 metres.

The company’s Dandoko, Moussala, Kouroufing and Kandiole Projects are located in Western Mali, 30 kilometres to the east of B2Gold’s (TSE:BTO) 5.15 million gold ounces (Moz) Fekola mine and 50 kilometres to the southeast of Randgold’s (LON:RRS) 12.5 Moz Loulo mine.

The DD drilling at Seko is part of a metallurgical program to be incorporated in future scoping studies undertaken by Oklo.

 

The company’s phase II drill program was completed with the onset of the wet season in mid-July, with assay results still pending from:
- 4 reverse circulation holes testing the Sory prospect 1.5 kilometres south of Seko;
- 149 reconnaissance AC holes testing Dabia and Sory;
- 690 shallow auger holes testing the Kouroufing Project located 20 kilometres southeast of Dandoko.

Oklo’s drilling will recommence after the wet season with planning underway and programs to be finalised upon receipt of all pending assays.

]]>
Mon, 03 Sep 2018 12:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204015/oklo-resources-drilling-reveals-high-grade-gold-and-a-new-mineralised-zone-in-mali-204015.html
<![CDATA[News - Oklo Resources drill results show potential of Seko’s SK3 target ]]> https://www.proactiveinvestors.com.au/companies/news/203650/oklo-resources-drill-results-show-potential-of-sekos-sk3-target-203650.html Oklo Resources Ltd (ASX:OKU) has received more results from its phase II drilling program at the Seko prospect within the Dandoko Project, Mali.

The latest results are from 17 reverse circulation (RC) holes and nine diamond holes drilled at the SK3 target where oxide gold mineralisation was sampled in previous aircore drilling.

Results feature 20 metres at 3.03 g/t gold from 209 metres depth.

READ: Oklo Resources’ substantial shareholder Resolute Mining increases its stake

Oklo’s managing director Simon Taylor said: “These new results from our recently completed phase II drill program confirm the company’s belief that the Dandoko Gold Project has the potential to host a significant gold resource.

“The program delivered 31,706 metres of new drilling at Dandoko, producing excellent results.

“We look forward to receiving the final results and in addition the first assays from our Kouroufing Project located some 20 kilometres south west of Dandoko.

“With approximately 500 square kilometres of highly prospective landholdings now acquired around Dandoko, Oklo is a dominant player in a world-class gold exploration region.

“With plenty of drilling to follow over what is a largely unexplored area, the company is excited to release its results to market as they become available.”

Results show discovery potential at SK3

Results demonstrate the potential for further discoveries at SK3 with the significant new intersection of 20 metres at 3.03 g/t gold intersected in the most northern line of drilling.

Significant intersections from other drill holes, testing for extensions to the broad zone of oxide gold mineralisation at SK3 include 28 metres at 2.20 g/t gold from 155 metres depth.

Assays still remain pending

Although the phase II drilling program is complete, assay results still remain pending:

• 2 diamond and 20 aircore holes from SK2;
• 4 RC holes testing the Sory prospect 1.5 kilometres south of Seko;
• 149 reconnaissance aircore holes testing Dabia and Sory; and
• 690 shallow auger holes testing the Kouroufing Project.

]]>
Tue, 28 Aug 2018 12:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203650/oklo-resources-drill-results-show-potential-of-sekos-sk3-target-203650.html
<![CDATA[News - Oklo Resources’ substantial shareholder Resolute Mining increases its stake ]]> https://www.proactiveinvestors.com.au/companies/news/202633/oklo-resources-substantial-shareholder-resolute-mining-increases-its-stake-202633.html Oklo Resources Ltd (ASX:OKU) has received a substantial vote of confidence from leading African gold producer Resolute Mining Limited (ASX:RSG).

Resolute Mining has increased its stake in Oklo from 8.78% to 10.29% via the purchase of about 5.9 million ordinary shares worth over $2 million.

Oklo recently received excellent results from preliminary metallurgical test work completed on samples collected from the Seko prospect at its Dandoko Project in Mali.

The company is leveraged to the prolific greenstone belts of Western Mali, with four other projects in the same region as Dandoko, including the recently-acquired Kouroufing and Kandiole Sud assets.

]]>
Fri, 10 Aug 2018 13:26:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202633/oklo-resources-substantial-shareholder-resolute-mining-increases-its-stake-202633.html
<![CDATA[News - Oklo Resources reveals positive initial test work results from Dandoko Project in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/202248/oklo-resources-reveals-positive-initial-test-work-results-from-dandoko-project-in-mali-202248.html Oklo Resources Ltd (ASX:OKU) has received excellent results from preliminary metallurgical test work completed on samples collected from the Seko prospect at its Dandoko Project in Mali.

The preliminary results from bottle roll cyanide leach analysis on oxide and primary mineralisation samples provide a positive indication on the likely recovery characteristics of the ore.

READ: Oklo Resources continues to strike high-grade gold at Dandoko Project in Mali

Bottle roll cyanide leach analysis provides an initial indication of the recovery characteristics of an ore by comparison to the more conventional fire assay analysis.

Encouragingly, results from the bottle roll cyanide leach analysis returned an average difference on oxide and primary mineralisation of less than 5% (95% recovery) between the original fire assay and follow up bottle roll assays.

Fire assay and bottle roll cyanide leach gold results from all oxide and primary material

When broken down by material type, both primary and oxide samples returned excellent results.

The primary averaged less than 6% (94% recovery) difference and the oxide samples less than 2% (98% recovery) difference, strongly indicating that the use of cyanide leach is appropriate at this early stage of testing.

 

The bottle roll analysis was conducted prior to committing to an expanded metallurgical test program.

Further sampling of both oxide and primary material is now underway and will be submitted for test work.

Oklo managing director Simon Taylor said: “While this preliminary testing is only the first of an initial program of metallurgical work, these early results indicate an easily recoverable gold at Seko.

“The company is highly encouraged by these results and provided a catalyst for further metallurgical testing, we look forward to releasing the results as they become available.”

]]>
Mon, 06 Aug 2018 12:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202248/oklo-resources-reveals-positive-initial-test-work-results-from-dandoko-project-in-mali-202248.html
<![CDATA[News - Oklo Resources signs agreements to acquire Kossaya and Sari projects ]]> https://www.proactiveinvestors.com.au/companies/news/201092/oklo-resources-signs-agreements-to-acquire-kossaya-and-sari-projects-201092.html Oklo Resources Ltd (ASX:OKU) has signed agreements to acquire 100% of the Kossaya and Sari Projects both located within five kilometres of the flagship Dandoko Project in Mali.

Oklo’s managing director Simon Taylor said: “Oklo is pleased to announce further progress in building a strategic land position in close proximity to its flagship Dandoko Project in west Mali.

“As is evident from the major gold deposits nearby and the recent success we have enjoyed at Dandoko in a short time frame, we believe this highly prospective and largely underexplored province will continue to unveil further significant gold discoveries.”

 

READ: Oklo Resources continues to strike high-grade gold at Dandoko Project in Mali

The combined projects add 84 square kilometres to the company’s ground within the Kenieba Inlier region to the east of the regionally significant Senegal Mali Shear Zone (SMSZ).

The SMSZ and associated northeast-trending splay structures are spatially related to several major gold projects including Fekola, Loulo, Gounkoto, Yatela, Sadiola and Sabodala.

Taylor added: “Oklo now holds a significant footprint in west Mali and is committed to advancing its projects through systematic exploration led by our highly experienced team and backed by our current strong cash position.”

Planning underway for field programs

Oklo has identified potential northeast-trending structures within the Kossaya and Sari projects.

These structures are comparable to those outlined within the nearby Dandoko Project associated with the 12-kilometre long, northeast-trending gold corridor recently outlined by auger geochemistry.

Exploration work can commence immediately within the new areas, with initial data compilation and planning underway for field programs.

To earn 100% of Kossaya, Oklo will pay an initial €60,000 and then another €60,000 in cash or shares after one year (subject to €100,000 expenditure) and finally €30,000 in cash or shares after two years.

To earn 100% of Sari, Oklo will pay an initial €15,000 and then another €15,000 in cash or shares after one year (subject to €117,000 expenditure) and finally €15,000 in cash or shares after two years.

]]>
Thu, 19 Jul 2018 10:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201092/oklo-resources-signs-agreements-to-acquire-kossaya-and-sari-projects-201092.html
<![CDATA[Media files - Oklo Resources adding to and advancing portfolio of West Mali gold projects ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9812/oklo-resources-adding-to-and-advancing-portfolio-of-west-mali-gold-projects-9812.html Tue, 10 Jul 2018 19:00:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9812/oklo-resources-adding-to-and-advancing-portfolio-of-west-mali-gold-projects-9812.html <![CDATA[News - Oklo Resources continues to strike high-grade gold at Dandoko Project in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/199908/oklo-resources-continues-to-strike-high-grade-gold-at-dandoko-project-in-mali-199908.html Oklo Resources Ltd (ASX:OKU) has received further outstanding gold intersections from drilling at the central portion of Seko Anomaly SK2 within the Dandoko Project in Mali.

High-grade oxide and primary gold intersections include:

• 29 metres at 12.27g/t gold from 1 metre including 8 metres at 36.9 g/t gold from 7 metres; and
• 51 metres at 2.22 g/t gold from 180 metres including 17 metres at 4.79 g/t gold from 196 metres.

Importantly, the results confirm a coherent, high-grade shoot at SK2 over a strike length of 80 metres extending from surface to a vertical depth of 195 metres, which remains open down-plunge.

READ: Oklo Resources’ high-grade hits support potential for large gold system at Dandoko in Mali

The Dandoko Project lies 30 kilometres to the east of B2Gold’s (TSE:BTO) 5.15 million ounces Fekola mine and 50 kilometres to the south-southeast of Randgold’s (LON:RRS)  12.5 million ounces Loulo mine.

Oklo’s 2018 phase II program is nearing the completion of the planned 50,000 metres of drilling prior to the onset of the wet season in July.

The program includes auger, aircore, reverse circulation and diamond drilling at an estimated cost of $5 million.

READ: Oklo Resources hits more high-grade gold in latest assays from Seko

Oklo has identified the potential for multiple lodes in fresh rock below the 400 metre long zone of shallow oxide mineralisation at SK2 highlighted in diamond holes with several intervals of mineralisation returned from each hole.

Meanwhile, ongoing structural logging of diamond drill core at SK2 and SK3 continues to assist in targeting extensions to the high-grade gold mineralisation.

]]>
Mon, 02 Jul 2018 11:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199908/oklo-resources-continues-to-strike-high-grade-gold-at-dandoko-project-in-mali-199908.html
<![CDATA[News - Oklo Resources commences auger drilling in west Mali ]]> https://www.proactiveinvestors.com.au/companies/news/197757/oklo-resources-commences-auger-drilling-in-west-mali-197757.html Oklo Resources Ltd (ASX:OKU) has commenced auger geochemical drilling at the Kouroufing Project in western Mali.

The program will consist of 15,000 metres and will follow a similar process used at the nearby flagship Dandoko Project to discover its multiple gold prospects.

The program is expected to take 50 days to complete and the auger holes will sample the top 2-3 metres of bedrock material on a 400x100-metre grid.

READ: Oklo Resources hits more high-grade gold in latest assays from Seko

The Kouroufing Project covers an area of 90 square kilometres within the Kenieba Inlier to the east of the regionally significant Senegal Mali Shear Zone (SMSZ).

The SMSZ and associated northeast-trending splay structures are spatially related to several major gold projects.

These include B2Gold Corp’s (TSX:BTO) 5.15 million ounce Fekola mine and 50 kilometres from Randgold Resource Limited’s (LON:RRS) 12.5 million ounce Loulo mine.

Phase II drilling program at the Seko continues

Oklo has been drilling at the Seko SK2 target within the Dandoko Project, Mali testing for extensions beneath the broad, shallow zone of oxide gold mineralisation.

Latest results include 62 metres at 5.26 g/t gold from 3 metres, 31 metres at 6.27 g/t gold from 101 metres and 46 metres at 4.03 g/t gold from 111 metres.

The 2018 fully-funded phase II program is targeting the completion of 50,000 metres of drilling prior to the onset of the wet season in July.

As of last week, a total of 107 aircore holes for 10,837 metres, 33 RC holes for 6,095 metres and 21 diamond holes for 5,291 metres have been complete in the phase II program.

Drilling continues and results remain pending from a further 107 aircore, 19 RC and 9 diamond holes.

]]>
Mon, 28 May 2018 11:36:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197757/oklo-resources-commences-auger-drilling-in-west-mali-197757.html
<![CDATA[News - Oklo Resources hits more high-grade gold in latest assays from Seko ]]> https://www.proactiveinvestors.com.au/companies/news/197411/oklo-resources-hits-more-high-grade-gold-in-latest-assays-from-seko-197411.html Oklo Resources Ltd (ASX:OKU) has received assays from a further seven reverse circulation (RC) and three diamond drill holes at the Seko SK2 target within the Dandoko Project, Mali.

Drilling is testing for extensions beneath the broad, shallow zone of oxide gold mineralisation at Seko Anomaly SK2.

Latest results include 62 metres at 5.26 g/t gold from 3 metres, 31 metres at 6.27 g/t gold from 101 metres and 46 metres at 4.03 g/t gold from 111 metres.

Phase II drilling program at the Seko continues

The 2018 fully-funded phase II program is targeting the completion of 50,000 metres of drilling prior to the onset of the wet season in July.

To date, a total of 107 aircore holes for 10,837 metres, 33 RC holes for 6,095 metres and 21 diamond holes for 5,291 metres have been complete in the phase II program.

Drilling continues and results remain pending from a further 107 aircore, 19 RC and 9 diamond holes.

READ: Oklo Resources’ high-grade hits support potential for large gold system at Dandoko in Mali

Results have confirmed a continuous, steep easterly-dipping, high-grade gold-mineralised shoot at SK2 over a strike length of 80 metres.

It extends from surface to a vertical depth of 195 metres and remains open at depth.

The shoot is coincident with the previously reported aircore results, which outlined shallow oxide mineralisation over a strike length of about 400 metres.

Ongoing structural logging of drill core continues to assist in targeting extensions to the high-grade gold mineralisation and exploring for potential repetitions.

]]>
Tue, 22 May 2018 11:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197411/oklo-resources-hits-more-high-grade-gold-in-latest-assays-from-seko-197411.html
<![CDATA[News - Oklo Resources’ high-grade hits support potential for large gold system at Dandoko in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/197051/oklo-resources-high-grade-hits-support-potential-for-large-gold-system-at-dandoko-in-mali-197051.html Oklo Resources Ltd (ASX:OKU) has received high-grade gold hits from the Seko prospect at its Dandoko project in Mali, supporting the potential for a large mineralised system.

The first results have been received from a $5 million, phase II, 50,000-metre program over a range of targets at Seko.

Intersections of up to 24 metres at 3.67 g/t gold from 58 metres, including 9 metres at 5.95 g/t, have been returned from the first seven reverse circulation (RC) and nine diamond drill holes.

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

These holes were testing for extensions to the broad zone of oxide gold mineralisation at Seko SK3 anomaly.

Managing director Simon Taylor said: “The first results from the 2018 phase II drilling program further confirms our belief that the Seko discovery has the potential to host a significant gold resource.

“We are aiming to complete 50,000 metres of drilling prior to the wet season in July over a range of targets at Seko.

“This will test for lateral continuity to the shallow oxide mineralisation and depth extensions to the primary gold mineralisation.”

READ: Oklo Resources completes agreement to acquire Mali gold project

Other high-grade results include:

- 30 metres at 2.63 g/t from 145 metres, including 15 metres at 4.49 g/t from 146 metres; - 11 metres at 9.64 g/t from 123 metres, including 4 metres at 8.03 g/t from 144 metres; and - 20 metres at 2.45 g/t from 99 metres, including 7 metres at 5.42 g/t from 100 metres. Wide zones of mineralisation

There were also very wide zones of lower grade mineralisation intersected, highlighted by 114 metres at 0.79 g/t from 90 metres that included 24 metres at 1.35 g/t and 12 metres at 2.18 g/t.

Location of the Seko trends within the 12-kilometre long Dandoko gold corridor.

Results confirm a continuous, westerly-dipping, gold-mineralised zone at SK3 extending from surface to a vertical depth of 175 metres.

Zone remains open

The zone remains open at depth and along strike with previous shallow aircore results extending the strike length to 600 metres.

Ongoing structural logging of drill core continues to assist Oklo in targeting extensions to the high-grade gold mineralisation.

A total of 68 aircore holes for 6,722 metres, 33 RC holes for 5,799 metres and 21 diamond holes for 5,062 metres have been completed in the phase II program.

Further assays pending

Assay results from a further 68 aircore, 26 RC and 12 diamond holes are pending.

As well as SK3, the program is testing the SK2 anomaly as well as other regional targets along the Dandoko gold corridor and within the Kouroufing project.

Taylor added: “The current program will provide a steady flow of news in the months ahead.”

The region hosts a number of multi-million-ounce deposits.

Oklo’s Dandoko project and adjoining Moussala, Kouroufing and Kandiole projects are within the Kenieba Inlier of western Mali.

Dandoko is 30 kilometres from B2Gold Corp’s (TSX:BTO) 5.15 million ounce Fekola mine and 50 kilometres from Randgold Resource Limited’s (LON:RRS) 12.5 million ounce Loulo mine.

]]>
Wed, 16 May 2018 11:16:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197051/oklo-resources-high-grade-hits-support-potential-for-large-gold-system-at-dandoko-in-mali-197051.html
<![CDATA[News - Oklo Resources collects $125,000 as CEO exercises options ]]> https://www.proactiveinvestors.com.au/companies/news/196868/oklo-resources-collects-125000-as-ceo-exercises-options-196868.html Oklo Resources Ltd (ASX:OKU) has raised an additional $125,000 in funding from its managing director and CEO Simon Taylor as a result of him exercising one million options.

This increased Taylor’s holding in Oklo to over 5.2 million shares.

During March this year, Oklo received another vote of confidence in its Mali gold assets as Taylor formalised his commitment to the company.

Taylor has been heavily involved in the development of the company’s assets since his March 2015 appointment and his new executive services agreement ensures his future with Oklo.

READ: Oklo Resources completes agreement to acquire Mali gold project

Most recently, Oklo completed an agreement to acquire 100% of the Kandiole Sud Project in west Mali.

Kandiole is 5 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 planned to commence work on the project immediately, with data compilation and planning of auger geochemical drilling in progress.

]]>
Mon, 14 May 2018 12:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196868/oklo-resources-collects-125000-as-ceo-exercises-options-196868.html
<![CDATA[News - Oklo Resources completes agreement to acquire Mali gold project ]]> https://www.proactiveinvestors.com.au/companies/news/196597/oklo-resources-completes-agreement-to-acquire-mali-gold-project-196597.html 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.

]]>
Wed, 09 May 2018 10:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196597/oklo-resources-completes-agreement-to-acquire-mali-gold-project-196597.html
<![CDATA[News - Oklo Resources' drilling continues to extend district-scale gold potential in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/196295/oklo-resources-drilling-continues-to-extend-district-scale-gold-potential-in-mali-196295.html Oklo Resources Ltd (ASX:OKU) has received positive gold assay results from aircore drill testing of anomalies at Dabia, located north of the Seko gold discovery in its Dandoko project in Mali.

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 0.87g/t gold including 8 metres at 1.87 g/t gold, and 8 metres at 2.64 g/t gold.

READ: Oklo Resources raises $15 million in oversubscribed placement to progress Mali gold projects

Oklo’s Dandoko Project and adjoining Moussala and Kouroufing Projects are located within the Kenieba Inlier of western Mali.

The projects are 30 kilometres to the east of B2Gold’s (TSE:BTO) 5.15 million ounce Fekola Mine and 50 kilometres to the southeast of Randgold’s (LON:RRS) 12.5 million ounce Loulo Mine.

Exploration in late 2016 discovered what is now the 12-kilometre long Dandoko gold corridor, including the Seko and more recent Sory discoveries.

READ: Oklo Resources' drilling extends gold zone to a depth of 185 metres in Mali

Oklo’s ongoing phase II drilling campaign is now well advanced with a total of 26 aircore holes, 33 reverse circulation holes and 21 diamond drilling holes completed to date.

Significantly, assay results from the recent aircore, reverse circulation and diamond drilling holes completed at Seko remain outstanding.

Assay results from the labs have slowed considerably during the current peak field season in Mali and adjacent projects in West Africa, with a turnaround of up to 40-45 days currently being experienced.

Oklo has planned further infill aircore drilling in advance of more targeted reverse circulation and diamond drilling.

]]>
Thu, 03 May 2018 11:26:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196295/oklo-resources-drilling-continues-to-extend-district-scale-gold-potential-in-mali-196295.html
<![CDATA[News - Oklo Resources' acquisition of Kandiole Sud adds another string to its bow in highly prospective territory ]]> https://www.proactiveinvestors.com.au/companies/news/195513/oklo-resources-acquisition-of-kandiole-sud-adds-another-string-to-its-bow-in-highly-prospective-territory-195513.html Oklo Resources Ltd (ASX:OKU) has entered into an agreement to acquire the Kandiole Sud project in Mali.

The project is about 5 kilometres southwest of the company’s flagship Dandoko project and 10 kilometres from B2Gold’s (TSE:BTO) operating Fekola mine in western Mali.

Consideration is $200,000 in cash or shares at the election of the vendor, and the issue of Oklo shares to the value of $800,000 at an issue price of 37.9 cents.

Close to multi-million ounce projects

Kandiole is a single granted permit of 116 square kilometres in an area 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 5.2 million-ounce Fekola project, as well as Loulo (12.5 million ounces), Sadiola (15 million ounces) and Sabodala (10 million ounces).

Largely unexplored

Kandiole covers a largely unexplored tract of highly prospective Proterozoic Birimian greenstones.

Oklo has identified northeast trending structures within the area similar to those outlined within the company’s nearby Dandoko project.

These are associated with the 12-kilometre long, northeast trending gold corridor recently outlined by auger geochemistry.

Work is able to commence on the project immediately.

]]>
Mon, 23 Apr 2018 10:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195513/oklo-resources-acquisition-of-kandiole-sud-adds-another-string-to-its-bow-in-highly-prospective-territory-195513.html
<![CDATA[News - Oklo Resources sees Resolute Mining increase its substantial shareholding ]]> https://www.proactiveinvestors.com.au/companies/news/195427/oklo-resources-sees-resolute-mining-increase-its-substantial-shareholding-195427.html Oklo Resources Ltd (ASX:OKU) has received a substantial vote of confidence from leading African gold producer Resolute Mining Limited (ASX:RSG).

Developer of the Dandoko Gold Project in Mali, Oklo completed a $15 million placement just over a week ago.

The placement was oversubscribed and the issue price was 38 cents.

This indicates heavy demand for the stock given that it was only a slight discount to the last traded price of 39.5 cents.

Resolute Mining takes large chunk

Resolute Mining held a 5% stake in Oklo prior to the placement.

However, the company now holds a much larger position having accounted for 12.1 million shares of the 39.4 million placed.

Resolute also buying on market

Since it last filed a substantial shareholder notice, Resolute’s shareholding has grown from about 12 million shares to 30.4 million.

Resolute has been buying stock on market, most recently in February, when Oklo’s shares were trading around the 40-cent mark.

It now has a stake of about 8.8%.

]]>
Fri, 20 Apr 2018 13:31:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195427/oklo-resources-sees-resolute-mining-increase-its-substantial-shareholding-195427.html
<![CDATA[News - Oklo Resources raises $15 million in oversubscribed placement to progress Mali gold projects ]]> https://www.proactiveinvestors.com.au/companies/news/194804/oklo-resources-raises-15-million-in-oversubscribed-placement-to-progress-mali-gold-projects-194804.html Oklo Resources Limited (ASX:OKU) is raising $15 million on the back of commitments from sophisticated and institutional investors to subscribe for a placement of about 39.5 million shares.

The issue price of 38 cents is a good indication of demand for the stock given that it only represents a marginal discount to the last traded price of 39.5 cents.

Placement oversubscribed

The raising was oversubscribed with strong demand from existing shareholders and new institutional investors.

The proceeds from the placement will primarily be used to accelerate exploration activities over the company’s Mali gold projects and for general working capital purposes.

Oklo seeks out multi-million-ounce gold deposit

Oklo’s Dandoko project in Mali is close to some of Africa’s largest mining deposits.

READ: Oklo Resources stepping up a gear in 2018 as it sets its sights on defining gold resource

Managing director Simon Taylor recently said: “Oklo’s prime strategy is to discover and develop the next multi-million-ounce gold deposit within the company’s highly prospective and relatively underexplored project portfolio in Mali.”

Limited early-stage drilling has intersected broad high-grade mineralisation such as 79 metres at 2.17 g/t gold and 42 metres at 6.14 g/t gold.

]]>
Thu, 12 Apr 2018 11:08:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194804/oklo-resources-raises-15-million-in-oversubscribed-placement-to-progress-mali-gold-projects-194804.html
<![CDATA[News - Oklo Resources enters trading halt ahead of capital raising details ]]> https://www.proactiveinvestors.com.au/companies/news/194569/oklo-resources-enters-trading-halt-ahead-of-capital-raising-details-194569.html Oklo Resources Ltd (ASX:OKU) has entered an ASX trading halt this morning pending the release of details related to a capital raising.

The halt will remain in place until the earlier of the release of information regarding the raising or the commencement of trading on Thursday.

READ: Oklo Resources' drilling extends gold zone to a depth of 185 metres in Mali

Recently, Oklo received positive assay results from the final three drill holes testing for extensions to the broad zone of gold at the Seko Anomaly 2 (SK2) within the Dandoko Project, Mali.

The new results, in conjunction with the earlier drilling results, have confirmed a continuous gold-mineralised zone at SK2 extending from surface to a vertical depth of 185 metres.

Notably, it remains open at depth.

READ: Oklo Resources stepping up a gear in 2018 as it sets its sights on defining gold resource

Oklo’s Dandoko Project and adjoining Moussala and Kouroufing Projects are located within the Kenieba Inlier of western Mali.

The projects are 30 kilometres to the east of B2Gold’s (TSE:BTO) 5.15 million ounce Fekola Mine and 50 kilometres to the southeast of Randgold’s (LON:RRS) 12.5 million ounce Loulo Mine.

Exploration in late 2016 discovered what is now the 12-kilometre long Dandoko gold corridor, including the Seko and more recent Sory discoveries.

]]>
Tue, 10 Apr 2018 11:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194569/oklo-resources-enters-trading-halt-ahead-of-capital-raising-details-194569.html
<![CDATA[News - Oklo Resources' drilling extends gold zone to a depth of 185 metres in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/193918/oklo-resources-drilling-extends-gold-zone-to-a-depth-of-185-metres-in-mali-193918.html Oklo Resources Ltd (ASX:OKU) has received positive assay results from the final three drill holes testing for extensions to the broad zone of gold at the Seko Anomaly 2 (SK2) within the Dandoko Project, Mali.

The company intercepted further significant gold mineralisation of 19 metres at 2.41 g/t gold from 51 metres, including 9 metres at 3.64 g/t gold from 55 metres.

The new results, in conjunction with the earlier drilling results, have confirmed a continuous gold-mineralised zone at SK2 extending from surface to a vertical depth of 185 metres, remaining open at depth.

READ: Oklo Resources drill results confirm gold extends deeper at Seko discovery, shares rise

Oklo’s Dandoko Project and adjoining Moussala and Kouroufing Projects are located within the Kenieba Inlier of western Mali.

The projects are 30 kilometres to the east of B2Gold’s (TSE:BTO) 5.15 million ounce Fekola Mine and 50 kilometres to the southeast of Randgold’s (LON:RRS) 12.5 million ounce Loulo Mine.

Exploration in late 2016 discovered what is now the 12-kilometre long Dandoko gold corridor, including the Seko and more recent Sory discoveries.

READ: Oklo Resources stepping up a gear in 2018 as it sets its sights on defining gold resource

Oklo’s 2018 phase I drilling program at Seko is designed to test for both strike and depth extensions to the previously encountered oxide gold mineralisation.

The latest drilling results indicate that the gold mineralisation at SK2 dips steeply to the east with a southerly plunge component to the high-grade zone.

Significantly, the lower contact (footwall) of the high-grade zone is potentially fault bound.

Phase II drilling to focus on resource definition at Seko

The $3.5 million phase I program is now 95% complete with an aggressive phase II program to commence shortly.

The phase II program will comprise of Seko oxide resource definition drilling, including diamond drilling for density and metallurgical test work, and Seko primary zone exploration drilling.

Oklo will also drill test other gold anomalies within the Dandoko gold corridor and will carry out auger geochemistry work over regional targets in West Mali.

Dandoko gold corridor drilling program

The company’s first pass aircore drilling has continued on other targets within the Dandoko gold corridor, with 62 holes (for 6,495 metres) completed at the Dabia prospect, located 2.5 kilometres north of Seko.

The drilling is now complete with assay results pending.

READ: Oklo Resources managing director, Simon Taylor, commits to the company's future ]]>
Wed, 28 Mar 2018 11:23:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193918/oklo-resources-drilling-extends-gold-zone-to-a-depth-of-185-metres-in-mali-193918.html
<![CDATA[News - Oklo Resources stepping up a gear in 2018 as it sets its sights on defining gold resource ]]> https://www.proactiveinvestors.com.au/companies/news/193499/oklo-resources-stepping-up-a-gear-in-2018-as-it-sets-its-sights-on-defining-gold-resource-193499.html Oklo Resources Ltd (ASX:OKU) is a right place, right time gold story.

While ‘right place’, AKA 'nearology', is a well-worn and often loosely used cliche in the mining industry, in the case of Oklo there is no doubting its relevance.

The company’s landholding in Mali, West Africa, covers more than 1300 square kilometres with its flagship gold projects including Dandoko and Moussala.

Not only will you find a map clearly illustrates the close proximity to multi-million-ounce projects, but even the style and grades of mineralisation are consistent with nearby world-class deposits.

Managing director Simon Taylor said: “Oklo’s prime strategy is to discover and develop the next multi-million-ounce gold deposit within the company’s highly prospective and relatively underexplored project portfolio in Mali.”

30 kilometres from 5.1 million ounce Fekola mine

Dandoko is within the highly endowed Kenieba inlier where more than 50 million ounces of gold have been discovered.

This is along the southern extents of the Senegalo-Malian Shear Zone, a 60-kilometre long, structural corridor that is host to numerous, large gold deposits.

Oklo's projects are in western Mali, near the Senegal border.

These include Randgold Resources Limited’s (LON:RRS) 17 million-ounce Loulo/Gounkoto deposits and IAMGOLD Corp’s (NYSE:IAG) Sadiola and Tabakoto deposits totalling 18 million ounces.

The closest is B2Gold Corp’s (TSE:BTO) 5.1 million-ounce Fekola project which lies a mere 30 kilometres to the west.

Comparisons being drawn with Fekola

Oklo’s Dandoko project has a 12-kilometre long gold trend which includes the Seko discovery.

Taylor said: “All of the projects are in proximity to operating mines with the company’s exploration results to date indicating a comparable geological setting.

“Seko is an exciting new discovery within the Dandoko project, yielding highly positive drill results in a short time frame.”

Limited early-stage drilling has intersected broad high-grade mineralisation such as 79 metres at 2.17 g/t gold and 42 metres at 6.14 g/t.

Upcoming catalysts

While this has provided share price momentum there are plenty of catalysts on the horizon in 2018 as the company receives final assays from phase I drilling and embarks on phase II drilling.

Success with this drilling could result in an earlier than expected resource definition.

Chairman Michael Fotios said, “We have clear objectives set for the 2017-18 field season, including outlining a maiden resource at our Dandoko project, particularly at Seko.”

Of course, corporate interests could be a catalyst and this needs to be taken into account particularly given cashed up global gold producers have operations in close proximity.

Will Oklo follow a similar trajectory to Papillon

The Fekola parallel needs to be examined given comparisons have been made with the project over the last 12 months.

In May, Canaccord analyst Reg Spencer said: “Papillon’s (previously ASX-listed owner of Fekola prior to the takeover by B2Gold) discovery at Fekola was preceded by an initial focus on a smaller deposit.

Exploration of limited soil anomalies then gave way to a larger 1-kilometre long mineralised trend, now host to a deposit of more than 5 million ounces.”

Consequently, not only are the projects geographically close, they also host similar style mineralisation and it would be fair to say that Oklo is now at a similar stage to when Papillon’s shares started to take off.

Oklo spoilt for choice

it is important to remember that even outside Seko, Oklo has numerous options.

Plenty of companies would rightly get excited about discovering gold at 50 g/t from 76 metres.

Targets within the Dandoko and Moussala projects.

When Oklo threw the net a little wider at its Diabarou prospect this was one of the impressive results it came up with.

While these results are important, helping the company gain investor support, Taylor and the team have their sights firmly fixed on identifying a deeper plunging ore body - another Fekola.

With high-grade vein mineralisation, Diabarou would be ideally suited to providing extra feed for a larger project, and Taylor said the company would definitely be returning to the site.

The more I practice the luckier I get

So is Oklo one of those stocks that is a 10-bagger in the making?

It is too early to say, but what is worth considering is the fact that the company has notched up all of the right milestones plus some over the last 12 months.

This appears to be more than just coincidental given the experienced management team that has shaped the exploration program.

Together, they boast more than 40 million ounces of gold discoveries in West Africa.

Taylor said: “Oklo’s in-country management team has a proven track record of large discoveries in West Africa and are ably supported by its corporate team in Australia.

“It is worth noting that director Madani Diallo acquired Dandoko before the Fekola project even got off the ground.

“General manager, exploration, Andrew Boyd was general manager, geoscience for Papillon Resources, and he has 20 years of exploration and mining experience as a geophysicist.”

High profile tight share register

There is no doubting the fact that Oklo remains a news-driven story and analysts tend to believe ongoing exploration success will result in a re-rating.

Capital raisings undertaken by the company to date have been extremely well supported, and the company now boasts a tightly held register featuring big names.

These include BlackRock, Inc. (NYSE:BLK) with 15.2% and ASX-listed African producer Resolute Gold (ASX:RSG) with 5.4%.

While raisings have been completed at 7.5 cents, 12 cents and 24 cents there hasn’t been evidence of investors taking stag profits - they tend to be there for the long haul.

So what is Oklo worth

The company’s shares have roughly doubled in the last six months, hitting a high of 50 cents on January 8, 2017.

While they are not trading too far shy of that mark now, Canaccord’s Spencer is bullish on the stock.

As recently as last week he said: “Oklo remains well-funded with cash of $9 million to continue exploration programs, with ongoing newsflow from drilling to provide potential share price catalysts.

“In our view, the deeper drilling results from SK2 at Seko could represent a southerly plunging continuation of high-grade mineralisation encountered 80 metres to the north.

READ: Oklo Resources drill results confirm gold extends deeper at Seko discovery, shares rise

“While further drilling is required to confirm continuity and test strike extents, the high grades and widths encountered to date lead us to speculate that SK2 could host a significant primary gold deposit.”

Ryan Armstrong, research analyst at Taylor Collison, is bullish on the stock, as his ‘speculative buy’ recommendation suggests.

Armstrong said: “The geological settings are favourable and OKU will re-rate accordingly with further drilling success at the Dandoko Gold Project.”

Resolute Gold has the cash, the know-how and possibly the intent

As mentioned, Oklo has a strong share register, but one of the more interesting shareholders is Resolute Gold (ASX:RSG) with a holding of 5.4%.

Resolute is a large gold producer with its Syama Gold Project in Mali delivering 100,000 ounces in the six months to December 31, 2017.

The company is highly active in Western Africa with its Bibiani gold mine in Ghana having a resource of 2.5 million ounces.

Bibiani alone is expected to be producing more than 100,000 ounces of gold per annum for at least 10 years from the date it comes into production.

Neither Resolute nor John Welborn, the group’s managing director, have a habit of taking minority stakes in projects.

As at December 2018, the company had cash, bullion and listed investments of about $200 million.

Wellborn has extensive experience in Africa and notably was instrumental in the early stage identification of the prospect which went on to be developed as the Fekola project.

]]>
Wed, 21 Mar 2018 10:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193499/oklo-resources-stepping-up-a-gear-in-2018-as-it-sets-its-sights-on-defining-gold-resource-193499.html
<![CDATA[News - Oklo Resources managing director, Simon Taylor, commits to the company's future ]]> https://www.proactiveinvestors.com.au/companies/news/193274/oklo-resources-managing-director-simon-taylor-commits-to-the-company-s-future-193274.html Oklo Resources Ltd (ASX:OKU) has received another vote of confidence in its Mali gold assets as Simon Taylor, managing director, has formalised his commitment to the company.

Taylor has been heavily involved in the development of the company’s assets since his March 2015 appointment and his new executive services agreement ensures his future with Oklo.

Leadership qualities to fully explore the portfolio's potential

Taylor is a geologist with over 25 years technical and commercial experience in project assessments,

He has been involved in numerous projects outside of Australia, including Brazil, Turkey, Uganda, Tanzania, Mali, China, UK and North America.

His analytical and technical expertise, combined with his corporate experience provides the leadership skills required to progress Oklo’s high-priority assets.

READ: Oklo Resources drill results confirm gold extends deeper at Seko discovery, shares rise

Most recently, Oklo confirmed significant primary gold mineralisation at depth through new drilling results from the Seko gold discovery within the Dandoko Project, Mali.

First assay results from diamond and reverse circulation (RC) drilling at Seko Anomaly 2 (SK2) has intersected broad zones including 45 metres at 4.38 g/t gold.

Results to date successfully outline depth extensions to the primary gold mineralisation at SK2, with results from a further three diamond holes pending.

Analysts like the story

Ryan Armstrong, research analyst at Taylor Collison is bullish on the stock.

He noted after the new discoveries south of Seko which occurred towards the end of February that there was the prospect of further upside from deeper drilling.

Taylor Collison highlighted some similarities between Seko and high profile nearby projects.

Armstrong said: “Oklo has identified a number of gold anomalies along known splay structures off the gold-prolific Senegal-Mali Shear Zone, only 30 kilometres to the east of B2Gold’s 5.15 million ounce Fekola Project.

“The geological settings are favourable and Oklo will re-rate accordingly with further drilling success at the Dandoko Gold Project.”

Corporate activity isn’t out of the question

Oklo has a strong share register featuring the likes of BlackRock, Inc. (NYSE:BLK) which has a 15.2% stake in the company.

However, one of the more interesting shareholders is Resolute Gold (ASX:RSG) with a holding of 5.4%.

Resolute is a large gold producer with its Syama Gold Project in Mali delivering 100,000 ounces of gold in the six months to December 31, 2017.

Resolute has the cash, the know-how and possibly the intent

The company is highly active in western Africa with its Bibiani gold mine in Ghana having a resource of 2.5 million ounces.

It is expected to be producing more than 100,000 ounces of gold per annum for at least 10 years from the date it comes into production.

Neither Resolute nor John Welborn, the group’s managing director, have a habit of taking minority stakes in projects, suggesting Oklo is more than just a dabble on the side.

Watch this space

As at December 2018, Resolute had cash, bullion and listed investments of about $200 million.

Welborn has extensive experience in Africa and was instrumental in the early stage identification of the prospect which went on to be developed as the Fekola Project.

Resolute recently stated that it was ''seeking value generating acquisition opportunities."

]]>
Fri, 16 Mar 2018 13:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193274/oklo-resources-managing-director-simon-taylor-commits-to-the-company-s-future-193274.html
<![CDATA[News - Oklo Resources drill results confirm gold extends deeper at Seko discovery, shares rise ]]> https://www.proactiveinvestors.com.au/companies/news/192802/oklo-resources-drill-results-confirm-gold-extends-deeper-at-seko-discovery-shares-rise-192802.html Oklo Resources Ltd (ASX:OKU) has confirmed significant primary gold mineralisation at depth through new drilling results from the Seko gold discovery within the Dandoko Project, Mali.

First assay results from diamond and reverse circulation (RC) drilling at Seko Anomaly 2 (SK2) has intersected broad zones including 45 metres at 4.38 g/t gold.

Results to date successfully outline depth extensions to the primary gold mineralisation at SK2, with results from a further three diamond holes pending.

READ: Oklo Resources makes new gold discovery to the south of Seko

The potential for Seko's already identified high-grade gold at surface to extend to depths of over 200 metres has investors interested with shares up 4.7% to $0.44. 

Drilling is part of the 2018 phase I program

The 2018 phase I drilling program at Seko is designed to test for both strike and depth extensions to the previously encountered oxide gold mineralisation.

This is being done through aircore drilling to a vertical depth of 80 metres and deeper RC and diamond drilling to vertical depths of between 180 to 200 metres.

The $3.5 million program is scheduled to be completed by the end of this month.

Two drill rigs currently operating, with a third rig mobilised to accelerate the program.

Seko is within the 12-kilometre long Dandoko gold corridor

Exploration in late 2016 discovered what is now the 12-kilometre long Dandoko gold corridor, including the Seko and more recent Sory discoveries.

To date, 260 aircore holes, 37 RC holes and 11 diamond holes have been completed.

Results are still pending for a further 62 aircore, 1 RC and 8 diamond holes.

This batch of results from SK2 show world-class similarities

Significant results from these latest results at SK2 include:

• 45 metres at 4.38 g/t gold from 96 metres including 9 metres at 11.02 g/t gold;
• 18 metres at 4.41 g/t gold from 128 metres; and
• 25 metres at 2.24 g/t gold from 191 metres.

Why these results suggest economic gold at depth

Notably, the 18-metre intersection was abandoned in mineralisation with the final metre returning 15.10 g/t gold suggesting grade increases with depth.

Furthermore, the 25-metre intersection ending over 200 metres in depth is the deepest to date.

Observations from the drill core confirm similar alteration assemblages to other world-class gold mines in the district, including B2Gold's 5.15 million ounce Fekola Mine and Randgold’s Gounkoto open pit mine.

]]>
Thu, 08 Mar 2018 11:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192802/oklo-resources-drill-results-confirm-gold-extends-deeper-at-seko-discovery-shares-rise-192802.html
<![CDATA[News - Oklo Resources makes new gold discovery to the south of Seko ]]> https://www.proactiveinvestors.com.au/companies/news/192022/oklo-resources-makes-new-gold-discovery-to-the-south-of-seko-192022.html Oklo Resources Ltd (ASX:OKU) has made a new gold discovery to the south of the Seko gold prospect within the Dandoko Project in Mali.

Results from the ongoing 2018 Phase 1 drilling program have revealed grades of up to 13.3 g/t gold from the Sory target, located some 2.5 kilometres south of Seko.

Initial results at Sory warrant further drilling

A total of 60 drill holes for 3,917 metres were completed at the Sory target to provide initial coverage across the previously outlined auger gold anomalies over a strike length of 1.8 kilometres.

Multiple zones of gold mineralisation were intersected including 14 metres at 1.31 g/t gold, 5 metres at 2.82 g/t gold, 5 metres at 2.27 g/t gold and 11 metres at 0.83 g/t gold.

READ: Oklo Resources continues to attract interest from Canadian institutions

Further infill and targeted drilling are planned to confidently define the configuration of the mineralised envelope.

Meanwhile, first pass drilling of the Dabia gold target located 2 kilometres north of Seko is now underway.

Ongoing drilling at Seko with further significant intersections received

Oklo is continuing to drill at Seko with further intersections received from 16 infill and step-out holes at Seko Anomaly 1 (SK1).

Significant new results include 33 metres at 4.97 g/t gold from 63 metres and 14 metres at 1.72 g/t gold from 94 metres.

The drilling program has been designed to test for both strike and depth extensions to the significant shallow oxide gold mineralisation previously encountered

READ: Oklo Resources delivers further thick, quality grade intersections at Dandoko

Oklo will mobilise a third drill rig to accelerate diamond drilling targeting extensions to the known oxide gold mineralisation into fresh rock at anomalies SK2 and SK3.

Furthermore, a detailed 3D induced polarisation (IP) geophysical survey is advancing over SK3 to assist in the understanding of the structural controls to the gold mineralisation at Seko.

]]>
Thu, 22 Feb 2018 12:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192022/oklo-resources-makes-new-gold-discovery-to-the-south-of-seko-192022.html
<![CDATA[News - Oklo Resources delivers further thick, quality grade intersections at Dandoko ]]> https://www.proactiveinvestors.com.au/companies/news/191106/oklo-resources-delivers-further-thick-quality-grade-intersections-at-dandoko-191106.html Oklo Resources Ltd (ASX:OKU) continues to have success at its Seko prospect within the Dandoko Project located in Mali.

Dandoko is in close proximity to a number of other world-class gold deposits.

During late December, drilling results included 59 metres at 2 g/t gold, and this has been followed up by 37 metres at 2.6 g/t gold.

READ: Oklo Resources’ shares rise after drilling broad zones of primary gold in Mali

A secondary drill rig has been mobilised to accelerate the phase I program where previous drilling also featured 42 metres at 6.14 g/t gold.

Results pending from other drill holes

A total of 193 aircore holes across 16 kilometres have been completed to date as part of Oklo’s 2018 phase I drilling campaign.

Results are pending from a further 76 aircore, 4 reverse circulation and 3 diamond drill holes with drilling continuing.

Should there be a continuation of quality grades delineated from substantially sized intersections, upcoming news could provide share price momentum.

Dandoko surrounded by a world-class mines

Oklo’s Dandoko Project and adjoining Moussala and Kouroufing Projects are located within a highly prospective area of Mali.

The Kenieba Inlier of western Mali lies 30 kilometres to the east of B2Gold’s 5.15 million ounce Fekola Mine.

It is also within 50 kilometres of Randgold’s 12.5 million ounce Loulo Mine.

Drill programs test shallow and at depth extensions

The drilling programs have been designed to test for both strike and depth extensions to the significant shallow oxide gold mineralisation previously encountered at Seko.

Aircore drilling is being conducted to a vertical depth of circa 80 metres.

Deeper reverse circulation and diamond drilling is being undertaken to vertical depths of circa 200 metres.

The phase I program is scheduled to be completed by the end of February 2018 at an estimated cost of $3.5 million.

]]>
Mon, 05 Feb 2018 10:38:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191106/oklo-resources-delivers-further-thick-quality-grade-intersections-at-dandoko-191106.html
<![CDATA[News - Oklo Resources continues to attract interest from Canadian institutions ]]> https://www.proactiveinvestors.com.au/companies/news/189623/oklo-resources-continues-to-attract-interest-from-canadian-institutions-189623.html Oklo Resources Ltd’s (ASX:OKU) substantial shareholder Bank of Nova Scotia has demonstrated its support for the company’s African gold strategy by increasing its stake to 9.96% from 8.87%.

This comes amid a run in the company’s shares, which today peaked at a 12-month high of $0.50, an increase of almost 40% in the past month.

Bank of Nova Scotia-owned funds manager, 1832 Asset Management L.P., has acquired more than 9.38 million shares at an average price of $0.29 to boost its holding.

It now has more than 30.5 million Oklo shares.

READ: Oklo Resources’ shares rise after drilling broad zones of primary gold in Mali

Oklo is drilling at the Seko prospect within the Dandoko Gold Project in Mali.

The phase I program will be completed by end of January 2018.

Dandoko and Oklo’s adjoining Moussala and Kouroufing projects are within the Kenieba Inlier of western Mali.

In prolific gold producing region

The projects are within 30 kilometres from B2Gold’s (TSE:BTO) 5.15 million ounce Fekola project and 50 kilometres from Randgold’s (LON:RRS) 12.5 million ounce Loulo mine.

]]>
Mon, 08 Jan 2018 15:26:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189623/oklo-resources-continues-to-attract-interest-from-canadian-institutions-189623.html
<![CDATA[News - Oklo Resources’ shares rise after drilling broad zones of primary gold in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/189052/oklo-resources-shares-rise-after-drilling-broad-zones-of-primary-gold-in-mali-189052.html Oklo Resources Ltd’s (ASX:OKU) shares are trading circa 13% higher intra-day at $0.395 after intersecting broad zones of primary gold from drilling at the Seko prospect within its Dandoko Project in Mali.

The new results include 59 metres at 2 g/t gold from a depth of 91 metres at the Seko Anomaly 2.

READ: Oklo Resources continues run of high-grade gold results at Seko prospect in Mali

Oklo’s Dandoko Project and adjoining Moussala and Kouroufing Projects are located within the Kenieba Inlier of western Mali.

These projects lie within 30 kilometres from B2Gold’s (TSE:BTO) 5.15 million ounce Fekola project and 50 kilometres from Randgold’s (LON:RRS) 12.5 million ounce Loulo mine.

Further significant zones of oxide gold mineralisation

A total of 137 drill holes for circa 13,000 metres have been completed to date as part of Oklo’s 2018 Phase I drilling campaign, with results pending from a further 40 holes.

Significant intersections to date include:

Seko Anomaly 2
- 36 metres at 2.63 g/t gold from 18 metres, including 10 metres at 6.57g/t gold from 37 metres and 2 metres at 16.45 g/t gold from 43 metres; and 
- 59 metres at 2.00 g/t gold from 91 metres to end of hole, including 9 metres at 3.09 g/t gold from 100 metres and 12 metres at 3.44 g/t gold from 115 metres.

Seko Anomaly 3
- 26 metres at 1.51 g/t gold from 58 metres, including 3 metres at 3.36 g/t gold from 60 metres and 5 metres at 3.62 g/t gold from 70 metres.

Drilling to restart in the first week of January

In addition to outlining further significant zones of oxide gold mineralisation, the drill holes have also successfully confirmed comparable widths and grades of gold mineralisation within fresh rock.

READ: Oklo Resources' chairman Michael Fotios buys big on-market

The results to date continue to confirm Seko’s potential to host a large gold system.

To accelerate the shallow infill drilling program, a second drill rig has recently mobilised to site, with the other rig now dedicated to deeper drilling.

The drilling will pause over the Christmas-New Year period and restart in the first week of January 2018.

]]>
Wed, 20 Dec 2017 11:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189052/oklo-resources-shares-rise-after-drilling-broad-zones-of-primary-gold-in-mali-189052.html
<![CDATA[News - Oklo Resources' managing director exercises options as gold streak continues at Seko ]]> https://www.proactiveinvestors.com.au/companies/news/188624/oklo-resources-managing-director-exercises-options-as-gold-streak-continues-at-seko-188624.html Oklo Resources Ltd's (ASX:OKU) managing director, Simon Taylor, has increased his indirect stake in the company after exercising in-the-money options.

Taylor exercised 1,000,000 $0.10 options for a consideration of $100,000, and now holds an indirect stake of circa 4.2 million shares with several lines of options.

Shares in Oklo last traded at $0.34.

Oklo is currently drilling at the Seko Prospect within the Dandoko Project in Mali.

The phase I program will be completed by end of January 2018.

READ: Oklo Resources continues run of high-grade gold results at Seko prospect in Mali ]]>
Tue, 12 Dec 2017 13:16:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188624/oklo-resources-managing-director-exercises-options-as-gold-streak-continues-at-seko-188624.html
<![CDATA[News - Oklo Resources continues run of high-grade gold results at Seko prospect in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/188231/oklo-resources-continues-run-of-high-grade-gold-results-at-seko-prospect-in-mali-188231.html Oklo Resources Ltd (ASX:OKU) has received high-grade gold results from phase I drilling at the Seko Prospect within the Dandoko Project in Mali.

Strong intersections of up to 3 metres at 7.34 g/t gold from 3 metres have been returned from shallow aircore (AC) drilling at Seko Anomaly 1 (SK1).

Assay results from the AC holes continue to confirm the presence of further significant zones of mineralisation over strike lengths of more than 500 metres.

Deeper drilling also being carried out

Deeper reverse circulation (RC) and diamond drilling is also being carried out with assays pending.

Dandoko and Oklo’s adjoining Moussala and Kouroufing projects are within the Kenieba Inlier of western Mali.

The project is 30 kilometres from B2Gold’s (TSX:BTO) 5.15 million ounce Fekola project and 50 kilometres from Randgold’s (LON:RRS) 12.5 million ounce Loulo mine.

Commercial production was declared last week at Fekola, a month ahead of schedule.

READ: Oklo Resources reveals high-grade gold hits at the Seko prospect in Mali

The AC drilling is testing for extensions to shallow, oxide gold mineralisation.

Oklo has received results from 12 AC holes at SK1 with other significant intersections being 27 metres at 3.11 g/t within 76 metres at 1.65 g/t from 8 metres, and 7 metres at 2.45 g/t from 6 metres.

There have been 97 AC holes completed for 7,575 metres along with 17 RC holes for 2,262 metres.

Gold mineralisation remains open at depth and along strike.

SK1 trend extends over 2 kilometres

The SK1 trend extends over 2 kilometres with wide zones of gold mineralisation up to 200 metres across strike.

Simon Taylor, managing director, said: “The AC results are exceptional and further confirm our belief that the Seko discovery has the potential to host a significant, shallow gold resource.”

READ: Oklo Resources’ chairman Michael Fotios buys big on-market

The deeper RC holes have targeted extensions to oxide gold mineralisation at anomalies SK2 and SK3.

The phase I program is estimated to be completed by the end of January 2018 at an estimated cost of $3.5 million.

Reconnaissance in 2016 reveals Seko

In late 2016, Oklo initiated a reconnaissance auger geochemistry program over the Dandoko and Moussala projects to explore for new targets.

The program delivered early success with the delineation of the 12-kilometre long Dandoko gold corridor, including the Seko discovery.

Seko is the only target that has had any follow-up drilling with numerous targets yet to be drill tested.

]]>
Tue, 05 Dec 2017 11:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188231/oklo-resources-continues-run-of-high-grade-gold-results-at-seko-prospect-in-mali-188231.html
<![CDATA[News - Oklo Resources reveals high-grade gold hits at the Seko prospect in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/187866/oklo-resources-reveals-high-grade-gold-hits-at-the-seko-prospect-in-mali-187866.html Oklo Resources Ltd’s (ASX:OKU) shares are trading circa 16% higher intra-day after receiving high-grade gold results from its phase I drilling program at the Seko prospect within the Dandoko Project in Mali.

Assays received to date from aircore (AC) drilling confirms the presence of significant zones of oxide gold mineralisation over strike lengths in excess of 500 metres.

Simon Taylor, managing director, said: “The first AC results from the 2018 field season are exceptional and further confirm our belief that the Seko gold discovery has the potential to host a significant, shallow gold resource.

“Reverse circulation drilling is now underway testing for deeper primary gold mineralisation at Seko, which is just one of numerous priority auger gold targets along the 12 kilometres long Dandoko gold corridor.

“We expect the current program to be completed in late January 2018 and look forward to providing ongoing updates as results come to hand.”

Exceptional grades and widths of gold intersected

A total of 80 AC holes (for 6,121 metres) and 5 reverse circulation (RC) holes (for 699 metres) have been completed to date.

Significant intersections from the first 68 AC holes, comprising infill and step-out holes testing for extensions and higher grade zones to previous shallow, oxide gold intersections include:

- 42 metres at 6.14 g/t gold from surface, including 7 metres at 15.10 g/t gold from 27 metres;
- 30 metres at 4.47 g/t gold from surface; including 7 metres at 6.49 g/t gold from 3 metres; and
- 10 metres at 4.68 g/t gold from 27 metres.

At SK2, exceptional grades and widths of gold mineralisation have been returned with the mineralisation remaining open at depth and along strike.

At SK3, the drilling has successfully extended the known mineralisation by a further 80 metres to the north and remains open along strike.

Aggressive drill program to define a gold resource

The shallow AC drilling to date has not defined the structural controls and plunge to the gold mineralisation and this will be the focus of the ongoing phase I drilling program.

The drilling is continuing with deeper RC holes to circa 180-200 metres vertical depth targeting extensions to the known oxide gold mineralisation down into fresh rock.

Once the RC drilling is complete, the rig will be converted back to AC to test the northern extension of SK1 while the RC assays are awaited.

READ: Oklo Resources' chairman Michael Fotios buys big on-market ]]>
Tue, 28 Nov 2017 12:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187866/oklo-resources-reveals-high-grade-gold-hits-at-the-seko-prospect-in-mali-187866.html
<![CDATA[News - Oklo Resources' chairman Michael Fotios buys big on-market ]]> https://www.proactiveinvestors.com.au/companies/news/187053/oklo-resources-chairman-michael-fotios-buys-big-on-market-187053.html Oklo Resources Ltd's (ASX:OKU) non-executive chairman, Michael Fotios, has purchased 300,000 shares on-market for a consideration of almost $78,000.

This increased his indirect position through Investmet Limited to 1.2 million shares.

Fotios also holds indirect interests through Delta Resource Management Pty Ltd (four million shares) and Hades Corporation (WA) Pty Ltd (one million unlisted options exercisable at $0.20).

Oklo shares are trading 11.5% higher today at $0.29.

The company recently commenced its 2017-18 drilling season at its emerging Dandoko gold project located in western Mali.

READ NOW: Oklo Resources commences aggressive gold drilling in West Africa ]]>
Fri, 10 Nov 2017 13:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187053/oklo-resources-chairman-michael-fotios-buys-big-on-market-187053.html
<![CDATA[News - Oklo Resources to acquire gold project near its flagship asset in Mali ]]> https://www.proactiveinvestors.com.au/companies/news/186530/oklo-resources-to-acquire-gold-project-near-its-flagship-asset-in-mali-186530.html Oklo Resources Ltd (ASX:OKU) has signed an agreement to acquire the Kouroufing gold project, located 20 kilometres southeast of the company’s flagship Dandoko Project in western Mali.

The Kouroufing Project covers an area of 90.7 square kilometres within the Kenieba Inlier to the east of the regionally significant Senegal Mali Shear Zone (SMSZ).

Significantly, the SMSZ and associated structures are spatially related to several major gold projects including Fekola (5.2 million ounces), Loulo (12.5 million ounces) and Gounkoto (5.4 million ounces).

The Kouroufing Project covers a largely unexplored tract of highly prospective Proterozoic Birimian greenstones in a comparable geological setting to the nearby, multi-million ounce gold mines.

Oklo has already identified northeast-trending structures within the project area, which are considered similar to those outlined within the company’s nearby Dandoko Project.

These structures are associated with the 12 kilometres long, northeast-trending gold corridor outlined by reconnaissance auger drilling outlined.

Oklo has commenced work at the project area, with a data compilation process having begun and initial planning for field programs in November and December.

READ NOW: Oklo Resources commences aggressive gold drilling in West Africa

Last month, Oklo commenced its 2017-18 drilling season at its emerging Dandoko gold project located in western Mali, following a successful 2016-17 drill season.

]]>
Wed, 01 Nov 2017 11:19:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186530/oklo-resources-to-acquire-gold-project-near-its-flagship-asset-in-mali-186530.html