Oklo Resources Ltd

Oklo Resources signs agreements to acquire Kossaya and Sari projects

Both agreements allow Oklo to gain a 100% interest in the projects over two years.

writing on a page with the word acquisition highlighted in yellow
The company has nearly finished a 50,000-metre drill program at the Dandoko Project

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.

Quick facts: Oklo Resources Ltd

Price: $0.14

Market: ASX
Market Cap: $49.68 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...

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