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Oklo Resources in trading halt ahead of capital raising announcement

The trading halt will remain in place until March 2 or when an announcement is released to the market.

Oklo Resources Ltd - Oklo Resources in trading halt ahead of capital raising news
The Seko deposit is within the wider Dandoko Gold Project in western Mali

Oklo Resources Ltd (ASX:OKU) has been granted a trading halt by the ASX with a capital raising announcement pending.

The trading halt will remain in place until the start of regular trading on Monday, March 2, 2020, or when an announcement is released to the market, whichever occurs earliest.

Shares of the West African gold explorer, which has a market cap of approximately $92.9 million, last traded at 23 cents, up from 16.5 cents one month ago.

Drilling results grow SK1 anomaly

Oklo continues to grow the SK1 anomaly at Seko deposit of the Dandoko project in west Mali along strike and at depth with the latest results returning up to 34 metres at 4.07 g/t gold from 83 metres.

Results were received from a further 21 reverse circulation (RC) holes and two diamond (DD) holes earlier this week over the northern portion of SK1.

Gold mineralisation remains open down-dip and along strike with a second rig on-site to accelerate the evaluation of SK1 North.

Extensive gold anomalies have been previously outlined by auger drilling along the 12-kilometre-long Dandoko gold corridor demonstrated by recent drilling success at Seko and several other prospect areas.

Quick facts: Oklo Resources Ltd

Price: 0.31 AUD

ASX:OKU
Market: ASX
Market Cap: $146.42 m
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