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Oklo Resources aggressively drilling out Seko gold discovery

Both aircore and diamond drilling programs are underway at Seko.

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A recent placement secured $8.7 million for Oklo

Oklo Resources (ASX:OKU) has completed 8,422 metres of the planned 10,000 metre follow-up aircore program over the Seko gold trends within the Dandoko Project located in Mali.

The Seko gold trends consist of five strong auger gold anomalies of up to 2.0 kilometres in length, with a combined strike length of over 7 kilometres.

This current aircore drilling follows the successful first pass aircore program, which confirmed the presence of significant bedrock gold mineralisation at all five auger anomalies tested.

Furthermore, a diamond rig arrived on site last week and a 600 metre program has commenced on three of the Seko trends.

Deeper reverse circulation drilling is planned to follow the current Seko aircore and diamond program to further evaluate the gold mineralisation in fresh rock.


Drilling at Moussala Project

The Moussala Project, like the Dandoko Project is located within the Kenieba Inlier of western Mali.

The two projects lie 30 kilometres to the east of B2Gold’s 5.15 million ounce Fekola Project and 50 kilometres to the south-southeast of Randgold’s 12.5 million ounce Loulo Mine.

All assay results have been received from the 1,638 hole, 19,850 metre reconnaissance program over the Moussala Project.

Numerous new gold trends were delineated from the first pass auger program with values up to 5.8 g/t gold recorded.

Further encouraging zones of gold anomalism were successfully outlined including at the Dakadia, Dakadia South and Brundoto prospects related to interpreted regional structures

More detailed auger drilling will begin at Moussala once current assay results are integrated with other exploration data including the aeromagnetic and radiometric survey.

Dakadia will be the focus of initial follow-up work.


Recent capital raising

During early May 2017, Oklo received commitments to raise $8.7 million at $0.24 per share in a share placement.

Proceeds are being primarily used for the acceleration of exploration activities over the company’s Mali Gold Projects.

BlackRock Group, the world's largest asset manager, participated in the placement and increased its shareholding to 14.89%.

Furthermore, additional funds are expected from the exercise of in-the-money options during June, raising an additional circa $3 million.

Quick facts: Oklo Resources Ltd

Price: 0.295 AUD

ASX:OKU
Market: ASX
Market Cap: $139.33 m
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Oklo Resources has 'pipeline of projects' and 'soon to have 7 drill rigs going'

Oklo Resources Ltd (ASX:OKU) managing director and chief executive Simon Taylor tells Proactive Investors that the Mali-focused gold explorer and developer will have 7 rigs spinning on two of its projects by next week. Plenty of news flow is expected in the short term on the Dandoko...

on 12/3/19

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