viewOklo Resources Ltd

Oklo Resources granted permit for Kandiole Project in Mali

The permit covers 100 square kilometres of the 110 square kilometre project.

Oklo Resources Ltd - Oklo Resources granted permit for Kandiole Project in Mali
The remaining 10 square kilometre permit is pending approval

Oklo Resources Ltd (ASX:OKU) has been granted ownership of the majority of its Kandiole Project in Mali by the relevant government authorities.

The 100 square kilometre permit adds to Oklo’s portfolio in the region, which is nearby to a number of large-scale operating gold mines.

Kandiole is within 10 kilometres of B2Gold’s operating 7.1-million-ounce Fekola Mine and IAMGold’s 2.6-million-ounce Boto Gold Project.

Low-cost auger drilling planned

Desktop studies by Oklo have identified numerous targets within the Kandiole Project which will be evaluated by low cost auger geochemical drilling in the upcoming field season.

Similar reconnaissance auger bedrock geochemistry was instrumental in the identification of the significant bedrock gold discoveries at the nearby Dandoko and Kouroufing Projects.

The acquisition of the project was agreed on May 2018 and part of the agreement will see Oklo issue 791,557 shares to the project’s vendor.

Working towards a JORC resource at Seko

The company’s primary exploration focus has been at the Seko prospect within its Dandoko Project in Mali.

The most recent assay results from shallow step-out and extensional drilling around the Seko gold system (SK1, SK2, SK3), delivered high-grade intersections of up to 27.4 g/t gold.

Drilling successfully identified new gold zones adjacent to and along strike of SK1, SK2 and SK3 and confirms the strong potential for Seko to grow with a number of follow-up targets to be tested.

As the new dry season approaches, drilling programs and contracts are being finalised to recommence drilling at Seko with the aim to delineate a JORC resource in early 2020.

Quick facts: Oklo Resources Ltd

Price: 0.285 AUD

Market: ASX
Market Cap: $143.52 m

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