Assay results have been received from 17 reverse circulation (RC) and seven diamond (DD) holes from SK1 North and SK1 South at Seko, as well as aircore drilling between Koko and SK1 South.
Best result from SK1 North was 33 metres at 2.95 g/t gold from 115 metres including, 20 metres at 4.17 g/t from 128 metres, while best from SK1 South was 4 metres at 11.45 g/t from 7 metres including, 1-metre at 41.0 g/t from 8 metres.
Oklo managing director Simon Taylor said: “We are pleased to report these new assay results from SK1, which highlight the potential for further shoot development along the approximate 3-kilometre trend extending from SK1 North to Koko.
“In particular, the results from SK1 South point to a new shoot emerging following implementation of the more optimal northwest drill hole orientation which brought about the SK1 North discovery.
“We are becoming increasingly confident that the drilling planned along the SK1 trend in the lead-up to the wet season will deliver further open pittable oxide mineralisation to Oklo’s maiden mineral resource estimate, expected to be finalised during the second half of 2020.”
Shares in the company have been as much as 9% higher to 31 cents intra-day.
SK1 North results
SK1 North showed further wide zones of gold mineralisation returned from step-out drilling at depth and along strike.
Other strong results:
- 20 metres at 2.09 g/t from 179 metres including, 7 metres at 4.20 g/t from 180 metres,
- 31 metres at 1.14 g/t from 3 metres including, 10 metres at 2.65 g/t from 4 metres,
- 10 metres at 2.32 g/t from 152 metres including, 3 metres at 6.18 g/t from 159 metres, and
- 12 metres at 2.40 g/t from 66 metres including, 3 metres at 5.59 g/t from 69 metres.
Drilling is continuing both down-dip and along strike to the north.
SK1 South potential
SK1 South drilling revealed the potential for a new south-plunging shoot, with other strong results of:
- 17 metres at 2.81 g/t from 65 metres including, 4 metres at 8.03 g/t from 71 metres,
- 6 metres at 7.27 g/t from 25 metres including, 2 metres at 19.35 g/t from 25 metres,
- 21 metres at 1.74 g/t from 136 metres including, 10 metres at 2.97 g/t from 136 metres, and
Notably, a 250-metre step-out aircore hole south of SK1 South returned string results, including 5 metres at 10.7g/t.
The company considers the new SK1 South results to be highly significant both in terms of the emergence of a new south-plunging shoot and the potential of the around 500 metres gap between SK1 North and SK1 South for further shoot development and plans further drilling to test this section.
Drill plan showing Leapfrog gold isosurfaces from recent and previous drilling programs (AC, RC and DD) over Seko anomalies SK1-5 and extensions to Koko
Limited follow-up RC drilling at Koko intersected:
- 58 metres at 1.14 g/t from 3 metres and 3 metres at 2.48 g/t from 89 metres,
- 9 metres at 1.10 g/t from 45 metres with the hole ending in mineralisation.
The company also tested the 2-kilometre zone between SK1 to Koko with a series of wide-spaced aircore traverses comprising of 160 holes to an average downhole depth of 62 metres (50 metres vertical).
Numerous zones of anomalous gold mineralisation were intersected with peak grades of up to 5.31 g/t gold, which Oklo believes warrant follow-up drilling.
Step out drill traverses 250 metres from Sk1 South intersected significant gold mineralisation including 5 metres at 10.7 g/t, 6 metres at 1.71 g/t and 5 metres at 1.24 g/t, with easterly dipping zones similar in style to the recent success at SK1 North and SK1 South.
The company is highly encouraged by these initial results and is confident there is potential to extend the SK1 structure to the south towards Koko, a combined total length of 3 kilometres.
Drilling programs continue
Drilling is ongoing at SK1 with further RC and DD holes completed and assay results expected in coming weeks.
To date, staff and contractors on-site in Mali have been minimally impacted by COVID-19 and Oklo continues to operate its programs as planned.
The company anticipates the current drilling program will continue up to the start of the wet season in July, and the delivery of the MRE expected during the second half of 2020.