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Oklo Resources Ltd discovers new gold zone in western Mali

The aircore drill program has successfully tapped into the potential that the Diabarou prospect has to transform the Dandoko project into a multi-million ounce resource.

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Oklo Resources Ltd (ASX:OKU) has extended the gold zone through first pass drilling at the Dandoko gold project in western Mali.

Assays from 33 first pass aircore holes extended the mineralised zone by 220 metres to the north and identified gold in shallow oxide material to the south.

The main mineralised zone remains open along strike in both directions and at depth.

Drilling has identified grades of up to 21.2 g/t gold with highlights including: 8 metres at 3.80 g/t gold; 4 metres at 2.54 g/t gold; and 6 metres at 1.51 g/t gold.

These results will provide the focus for the next drilling campaign scheduled for October, 2016.


Background

Oklo has eight gold projects covering 1,389 square kilometres in Mali.

The Diabarou prospect lies within the Dandoko project with recent highlights including:

- 6 metres at 53.77 g/t gold from 36 metres; 3 metres at 110.30 g/t gold from 120 metres; and 28 metres at 3.90 g/t gold from 88 metres.

The Dandoko Project is located within the prolific Kenieba Inlier of western Mali and lies 30 kilometres to the east of B2Gold Resources’ (formerly Papillon Resources) 5.15 million ounce Fekola project.

The project is also 50 kilometres to the south-southeast of Randgold’s 12.5 million ounce Loulo Mine, highlighting that Oklo is exploring in a well-endowed region.

Diabarou's gold mineralisation is similar in style to many of the other large gold deposits found nearby within the Kenieba Inlier of western Mali.


Aircore drilling at Diabarou

The Diabarou prospect covers an area of approximately 1.2 kilometres x 1.0 kilometres where artisanal miners have exposed gold bearing quartz veins of up to 3 metres in width extending for over 600 metres.

A total of 33 reconnaissance aircore holes for 2,665 metres were recently completed at Diabarou.

The project aimed to provide first pass coverage of the southern portion of the area and test for extensions to the previously identified main zone of high grade gold mineralisation.

The drill program was successful in intersecting significant gold mineralisation at both targets.


Significant intersections included:

- 8 metres at 3.80 g/t gold from 54 metres; 4 metres at 2.54 g/t gold from 53 metres; and 6 metres at 1.51 g/t gold from 41 metres.

The new results from Diabarou will provide the focus for planning of the next drilling campaign scheduled to commence in October after the current wet season.


Final reverse circulation holes


Final assay results were also received from the 2 remaining reverse circulation holes at Diabarou.

Highlights included: 1 metre at 45.10 g/t gold from 128 metres; and 7 metres at 12.27 g/t gold from 116 metres.


Analysis


The aircore drill program has successfully tapped into the potential that the Diabarou prospect has to transform the Dandoko project into a multi-million ounce resource.

These intersections have the potential to form an open pittable gold resource at a project that has five multi-million ounce gold deposits located within circa 60 kilometres of it.

Exploration potential remains strong with the project open in many directions and drill holes ending in gold mineralisation.

Oklo is in a strong financial position with circa $10 million cash on hand to pursue and purposefully
advance its extensive and highly prospective landholdings in Mali.

The Dandoko project hosts numerous gold targets of varying maturity that will be systematically drill tested over the coming 12 months.  

Oklo shares are up 290% year to date, currently trading at $0.195 per share.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

Quick facts: Oklo Resources Ltd

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ASX:OKU
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