Oklo Resources Ltd (ASX:OKU) is trading higher after hitting more high-grade gold during exploration at its wholly-owned Dandoko Project in west Mali.
The ASX-lister reported on gold intersections from another 16 reverse circulation (RC) and three diamond drill holes at the asset’s Disse prospect.
Oklo returned as much as 87.5 g/t gold over 1-metre in the latest batch of assays within 5 metres at 19.08 g/t from 109 metres.
In addition, six RC holes drilled at Disse North unearthed a potential parallel high-grade structure 300 metres north of the main gold trend.
Notably, all new results are below or outside the current mineral resource estimate and investors have responded strongly, pushing the share price as much as 20.9% higher intraday to A$0.11.
Modelling is underway to investigate potential open-cut and underground resource growth opportunities from the narrow but high-grade Disse system.
The Dandoko Project is within the Kenieba Inlier of west Mali, roughly 30 kilometres east of B2Gold’s 7.1-million-ounce Fekola Project and 50 kilometres south-southeast of Barrick Gold’s 18-million-ounce Loulo/Gounkoto complex.
What's more, IAMGold’s 2-million-ounce Diakha/Siribaya gold projects are to the immediate southwest of Oklo’s 505-square-kilometre holding within this emerging world-class gold region.
“Emerging, high-grade target”
Speaking to the latest findings at Disse, Oklo managing director Simon Taylor said: “These excellent results further confirm Disse as an emerging, high-grade target, with both open cut and underground potential.
“The latest high-grade gold result of 5 metres at 19.08 g/t is from the central part of the host structure, which remains open at depth and correlates well with the high-grade gold intersected in the adjacent drill sections, including 6 metres at 12.56 g/t gold and 3 metres at 19.94 g/t gold.
“The addition of high-grade fresh rock will complement the largely shallow oxide resource at Seko.
“The current resource expansion drilling program at Seko is now complete with final assay results expected imminently.”
Drilling at Disse
Since announcing its initial mineral resource estimate in late March 2021, Oklo has remained focused on evaluating resource growth opportunities in close proximity to Seko and other targets along the 15-kilometre Dandoko gold corridor and within its adjoining projects.
Overall, Dandoko’s Disse target represents a small portion of that mineral resource — 12,100 gold ounces — and the prospect currently extends over a 550-metre strike.
During the latest round of drilling at Disse, the explorer intersected:
- 5 metres at 19.08 g/t gold from 109 metres including, 2 metres at 47.04 g/t from 112 metres which includes 1-metre at 87.5 g/t from 113 metres;
- 2 metres at 7.02 g/t from 63 metres;
- 6 metres at 3.76 g/t from 221 metres, including 3 metres at 6.36 g/t from 224 metres; and
- 5 metres at 1.65 g/t from 107 metres, including 1-metre at 6.75 g/t from 111 metres.
Ultimately, Oklo believes the results to date add support for potential high-grade shoot development, plunging to the southeast and continuing at depth, that require further drill testing for both their open cut and underground potential.
A resource expansion drilling program across the Seko, Disse and Koko targets has since wrapped up, with final assays expected this month.
In the meantime, drill planning continues to target resource growth opportunities and follow up new discoveries at Dandoko's Sari and Kandiole prospects.
Oklo says technical and scoping studies for the broader project are well advanced, and it’ll continue to keep the market informed of any key developments.