Oklo Resources (ASX: OKU) has revealed the first batch of assay results from a 10,000m resource definition drilling campaign that kicked off last month at Seko within the Dandoko project in western Mali.
The Africa-focused explorer today announced a potential new high-grade shoot with assays returning a “spectacular hit” of 47m grading at 10.97 grams per tonne of gold from 48m, including 7m at 60.57g/t gold from 54m.
Other significant intersections included 20m at 1.98g/t gold from 60m and 8m at 2.11g/t gold from 142m, with the hole ending in mineralisation.
“Our 2019-20 field season is off to an excellent start with the first batch of assay results providing strong indications for a new high-grade shoot developing within the lightly drill-tested northern end of SK1,” Oklo managing director Simon Taylor said.
The company has now completed the shallow aircore (AC) component of the drilling program and a second rig is due to arrive on site in late November to start the deeper reverse circulation and diamond drilling phase.
Oklo has also sent further representative oxide, transition and fresh ore samples to Perth, Western Australia for metallurgical test work.
The company’s 10,000m drilling campaign is the precursor to a maiden mineral resource estimate scheduled for completion early in the second quarter of 2020.
“We look forward to reporting the remaining AC assay results and commencing the deeper drilling on what is shaping up to be an exciting period for the company in advance of its maiden mineral resource estimate,” Mr Taylor said.
The Seko prospect lies within Oklo’s flagship Dandoko project in western Mali’s Kenieba Inlier.
The prospect comprises five coherent auger gold trends (SK1-5) with a combined strike length of about 7km.
The completed AC phase of the drilling program comprised 53 holes for 4,541m and focused on testing gold mineralisation to depths averaging 85m and up to 182m.
Mali is one of the top gold-producing countries in Africa, ranking third after Ghana and Burkina Faso.
Oklo is the second ASX small cap to post positive gold results from a Mali exploration campaign today, with Mali Lithium (ASX: MLL) also announcing gold intersections returned from its infill drilling program at Koting.
By early afternoon trade, Oklo shares were sitting up 25% at $0.15.