Oklo Resources (ASX: OKU) has intersected wide and shallow gold mineralisation containing high grade zones at its Seko prospect, within the Dandoko project in Mali’s “Golden Triangle”.
To-date, Oklo has completed 80 shallow air core holes and five reverse circulation holes out of it’s A$3.5 million exploration program which is due to wind up at the end of January next year.
The better intersections from the exploration program included 42m grading 6.14 grams per tonne gold from surface, including a 7m interval grading 15.10g/t gold, and 30m grading 4.47g/t gold from surface, with a 6m interval grading 12.31g/t gold.
Commenting on the results, Oklo managing director Simon Taylor said they were “exceptional” and confirmed the company’s theory Seko “has the potential to host a significant, shallow gold resource”.
“We expect the current program to be completed in late January 2018 and look forward to providing ongoing updates as results come to hand,” Mr Taylor said.
In addition to Dandoko, Oklo owns the adjoining Moussala and its recently acquired Kouroufing projects which are all near to United States miner Randgold Resources’ 12.5 million ounce Loulo gold mine and Canadian miner recently commissioned B2Gold’s Fekola project, which has expected annual gold production up to 400,000oz gold.
The Dandoko project encompasses 134 square kilometres of prospective gold landholding, while the Moussala project comprises 66sq km.
On 1 November, Oklo entered an agreement to acquire Kouroufing which includes 90.70sq km of land.
According to Oklo, Kouroufing and Moussala are largely unexplored.
Future exploration includes further drilling at Seko to define a resource as well as a first pass program across Dandoko’s gold corridor. Additional reconnaissance drilling will also be undertaken at other projects.
In an October presentation, Okla claimed it had about A$12 million in cash to fund its “aggressive” drilling program at its Mali projects.
A nearby major road provides access to Mali’s capital Bamako which has a port for exporting mineralisation.
In mid afternoon trade, Oklo’s shares were up more than 20% at A$0.39.