Oklo Resources Limited (ASX: OKU) has announced highly encouraging first assay results from its drilling program at Seko, within its Dandoko Project in west Mali. The 10,000m drilling program comprises of aircore (AC), reverse circulation (RC), and diamond core (DD) drilling.
The company reported that assay results were received from the first five holes drilled over the lightly tested northern end of SK1. OKU said that potential new high-grade shoot was intersected in hole ACSK019-582.
Significant hits include 47m at 10.97g/t gold from 48m including 7m at 60.57g/t gold from 54m; 20m at 1.98g/t gold from 60m; and 8m at 2.11g/t gold from 142m, with the hole ending in mineralisation.
The company reported that the AC component of the drilling program targeting oxide mineralisation is now completed.
OKU said that a second rig is expected on site in late November to commence deeper DD and RC drilling in advance of a maiden Mineral Resource estimate scheduled for completion early in Q2 2020.
The company said that further representative oxide, transition and fresh ore samples were dispatched to Perth Australia for metallurgical testwork.
Dandoko project
Oklo’s flagship Dandoko Project is located within the Kenieba Inlier of west Mali, approximately 30km east of B2Gold’s Fekola Project and 50km south-southeast of Barrick’s Loulo Project. The Company currently holds ~500km2 of highly prospective ground in this emerging world-class gold region.
Significant prospects of the Dandoko project include Seko, Sory, Dabia, Gombaly, Diabarou, Disse, Selingouma North, Selingouma South, and Bembala.
Seko comprises five coherent auger gold trends (Seko Anomalies SK1, SK2, SK3, SK4, and SK5) with a combined strike length of about 7 kilometres.
Drilling at Seko
The company had recently commenced a 10,000m drill program at Seko (SK1– 5). The drilling program comprising aircore (AC), reverse circulation (RC) and diamond core (DD) drilling is the precursor to a maiden Mineral Resource estimate scheduled for completion early in Q2 2020.
OKU reported that the initial phase of AC drilling is now completed (53 holes for 4,541 metres) testing the gold mineralisation to depths averaging 85m and up to 182m.
Assay results from the first 5 AC holes
The company announced that assay results were received from the first five AC holes testing for extensions to the known mineralisation at the northern end of SK1.
Further assay results are expected in coming weeks from the remaining 48 of the 53 AC holes drilled at SK1-5.
Spectacular hits reported
The company reported that hole ACSK19-582 returned a high-grade intersection of 47m at 10.97g/t gold from 48m, including 7m at 60.57g/t gold from 54m which in turn included 2m at 170.25g/t gold.
Hole ACSK19-583, drilled immediately above this intersection returned 8m at 1.74g/t gold from 38m.
Hole ACSK19-586 returned 20m at 1.98g/t gold from 60m, however was prematurely abandoned at 88m due to the drill rig not being capable of reaching the target depth of 150m. The company said that this hole will be deepened with the RC rig at a later date.
Hole ACSK19-585 returned 8m at 2.11g/t gold from 142m to the bottom of the hole.
Strike extended, high-grade shoots
The company reported that the new assay results have extended the SK1 trend to over 850m in strike. OKU said that the results have also indicated the potential emergence of a new high-grade shoot.
Follow-up drilling planned
The company said that follow-up RC drilling will test this potential high-grade zone at depth and along strike, where a previous reconnaissance AC traverse intersected 31m at 0.50g/t gold approximately 240m along strike to the north.
Next steps
OKU said that further laboratory work on larger volume gold samples is being undertaken to assess for coarse or nuggety gold.
The company said that a second rig capable of deeper RC and DD drilling is expected on site by the end of November.
Management comments
Oklo’s Managing Director, Simon Taylor said: “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.
The resource definition drilling program is progressing well with the shallow AC component now completed and the deeper RC and diamond drilling phase expected to commence in late November.
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.”
