Sign up Australia
Proactive Investors - Run By Investors For Investors

Oklo Resources completes agreement to acquire Mali gold project

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

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

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

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

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

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

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

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

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

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

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

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

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

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

View full OKU profile View Profile

Oklo Resources Ltd Timeline

Related Articles

1530095749_shutterstock_102742847.jpg
June 27 2018
Metalla's royalty portfolio looks set to grow and grow
Ironbark’s vessel the Nunavik
August 09 2018
Ironbark is hopeful of attracting equipment suppliers to reduce the capital cost of building its big zinc mine by 30% or US$150 million.
Energy Fuels nudges higher as it outlines opportunities to lift uranium output
March 21 2018
The group is always hunting new sources of alternate feed materials and fee processing arrangements, it said

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