Sign up Australia
Proactive Investors - Run By Investors For Investors

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

Other large projects in the area include Loulo (12.5 million ounces), Sadiola (15 million ounces) and Sabodala (10 million ounces).
Map showing proximity of Kandiole to other large projects in Mali
Oklo has identified north-east trending structures within the area similar to those at Dandoko

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.

View full OKU profile View Profile

Oklo Resources Ltd Timeline

Related Articles

October 06 2018
Northwest Nonferrous Australia Mining sold the project to De Grey in a transaction for which it will pay another $10.4 million in cash and $3 million in shares.
August 01 2018
Tungsten prices are on the rise and construction is proceeding apace at Barruecopardo
maps of Australia with company projects marked
April 18 2018
Samples from the Mt Read Cobalt Project graded up to 7,800 ppm cobalt.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use