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Oklo Resources Ltd

Oklo Resources ramps up $5 million gold drilling program in Mali

The arrival of a diamond drill rig has complemented the aircore and two auger rigs operating since November.

Diamond drilling rig at Seko, Dandoko Project, Mali
Diamond drilling rig at Seko, Dandoko Project, Mali

Oklo Resources Ltd’s (ASX:OKU) 2019 field season is well underway with four drill rigs now in operation across its Dandoko and Kouroufing Projects in west Mali.

The $5 million drilling program consists of 35,000 metres of aircore, reverse circulation and diamond drilling and about 25,000 metres of low-cost shallow auger drilling.

Oklo’s Dandoko and Kouroufing Projects are about 30 kilometres east of B2Gold’s (TSE:BTO) 7.1 million ounces (Moz) Fekola Mine and 50 kilometres southeast of Randgold’s (LON:RRS) 12.5 Moz Loulo Mine.

Location of Oklo’s gold projects in west Mali

The company currently holds about 500 square kilometres of highly prospective ground in this emerging world-class gold region.

Oklo managing director Simon Taylor said: “We are pleased to announce a ramp-up of activity at Seko with diamond drilling now underway, the drilling is testing for strike and depth extensions to the known mineralisation.

“The arrival of the diamond drill rig complements the aircore and two auger rigs which have been operating at Kouroufing since November.

READ: Oklo Resources to start gold drilling program in Mali later this month

“First pass, deeper aircore drill testing of the Kouroufing auger gold corridor is now well advanced whilst the two auger rigs continue to test the northern and southern extensions of the identified 6 kilometres gold zone.

“We look forward to announcing a steady flow of results over the coming months.”

Diamond Drilling (DD) has now commenced at Seko (Dandoko Project) targeting extensions to previously reported gold mineralisation at SK3 and SK2.

An initial program of three DD holes with reverse circulation pre-collars to about 300 metres depth is planned.

The objective of the DD drilling will be to test for extensions to the north and south at SK3, including follow-up testing of the northern-most hole that intersected 20 metres at 3.03 g/t gold.

READ: Oklo Resources’ drilling elevates Dandoko to a potential district-scale gold discovery

Additionally, the DD drilling at SK2 will test for down plunge extensions to the known high-grade mineralisation and other structural concepts developed over the wet season.

Drilling progress at the Kouroufing Project is well advanced with one aircore and two auger drill rigs currently operating.

READ: Oklo Resources grows gold discovery potential in Mali with Kouroufing Project acquisition

A total of 5,129 metres of the planned 9,600 metres deeper aircore program has been completed.

The auger drilling program is testing for northern and southern extensions to the 6 kilometres gold corridor at Kouroufing including potential extensions into Oklo’s adjoining Kossaya Project.

Quick facts: Oklo Resources Ltd

Price: $0.11

Market: ASX
Market Cap: $45.32 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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