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Oklo Resources intersects deep gold in emerging new zone at SK1 North within Dandoko project

The company’s focus is on its west Mali landholding particularly the flagship Dandoko Project lying east of the prolific Senegal-Mali Shear Zone and close to numerous world-class gold operations.

Oklo Resources Ltd - Oklo Resources intersects deep gold in emerging new zone at SK1 North within Dandoko project
Field crews are expected to return in late September following the end of the wet season

Oklo Resources Ltd (ASX:OKU) has intersected deep gold mineralisation in an emerging new zone at SK1 North within the flagship Dandoko Gold Project in west Mali.

Results have been received from 12 reverse circulation (RC) and nine diamond drilling (DD) holes at Seko covering the 1-kilometre-long trend hosting SK1 North, South and Central.

Highlights in two deep DD holes at SK1 North are 23 metres at 2.57 g/t gold from 219 metres, including 6 metres at 5 g/t from 233 metres; and 50 metres at 1.43 g/t from 200 metres, including 21 metres at 2.20 g/t from 229 metres.

These holes indicate an appreciable widening and continuation of the host structure while the latest results extend the SK1 North-Koko trend to three kilometres, which remains partially tested along strike and remains open at depth.

Potential of SK1 North-Koko trend

Oklo managing director Simon Taylor said: “These final assay results from the highly successful 2020 resource definition drilling program continue to highlight the depth and strike potential of the SK1 North-Koko trend.

“With the Seko system very much open at depth, planning is well underway for the next phase of drilling with the mobilisation of field crews scheduled for late September, weather conditions permitting.

“In the meantime, work is progressing on our maiden mineral resource estimate and scoping activities which remain on track to be finalised during the second half of 2020.”

Other results

Two PQ metallurgical diamond holes at SK1 North also returned strong results of 18 metres at 9.18 g/t from 44 metres including 5 metres at 14.14 g/t from 45 metres and 2 metres at 40.82 g/t from 55 metres; and 33 metres at 4.10 g/t from 121 metres, including 12 metres at 7.04 g/t from 121 metres.

Oklo will dispatch samples from the core to ALS Metallurgy Pty Ltd in Perth, Western Australia, for the test-work program.

Drilling at SK1 South and Central returned further zones of shallow oxide gold mineralisation with results including:

  • 10 metres at 2.74 g/t from 45 metres including 6 metres at 4.30 g/t from 45 metres;
  • 14 metres at 1.45 g/t from 39 metres including 5 metres at 3.03 g/t from 42 metres;
  • 10 metres at 1.44 g/t from 85 metres including 2 metres at 5.56 g/t from 85 metres; and
  • 10 metres at 1.48 g/t from 123 metres including 3 metres at 4.29 g/t from 123 metres.

Drilling is planned to continue both down dip and along strike towards Koko, 3 kilometres to the south.

SK1 North extended

At SK1 North the new assay results have extended the high-grade gold mineralisation at depth and along strike on several sections.

Both DD intersections, hosted in oxide and transitional zone mineralisation, have been described as significant and indicate an appreciable widening of the host structure.

Further detailed drilling is planned to test for the potential emergence of south-plunging, high-grade shoots within the primary zone at depth.

Next steps

The company is finalising work programs for the forthcoming field season, which includes further drilling to fully delineate the extent of the SK1 North mineralisation before finalising the maiden resource estimate.

Other works planned include the continued evaluation of the Koko trend and exploration work along the lightly tested Dandoko gold corridor.

Field crews will return to Seko in late September following the conclusion of the current wet season and the drill rigs shortly thereafter to complete the evaluation of SK1.

Current situation in Mali

The company is closely monitoring the political situation in Mali following the recent military coup and resignation of President Ibrahim Boubacar Keita.

After a short period of street protests in the capital city of Bamako, the civil service has returned to work and government offices, shops, plants and the international airport have reopened.

Based on past experiences, the company believes that the political situation is unlikely to impact its mining operations in the country.

Quick facts: Oklo Resources Ltd

Price: 0.29 AUD

ASX:OKU
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Market Cap: $146.03 m
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