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Oklo Resources Ltd

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

Drilling will follow-up high-grade results assayed in the previous field season.

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Drilling is set to begin in mid-November as Mali's wet season ends

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.

Quick facts: Oklo Resources Ltd

Price: $0.12

Market: ASX
Market Cap: $47.38 m
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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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