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Okapi Resources (ASX:OKR) - Non Executive Chairman, Rhoderick Grivas (left) - The Market Herald
Non Executive Chairman, Rhoderick Grivas (left)
Source: TP Mine Imagery
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  • Okapi Resources (OKR) has completed due diligence on the Enmore Gold Project in New South Wales, electing to proceed with the acquisition from Providence Gold and Minerals
  • The project hosts two advanced walk-up drill targets, Sunnyside & Bora, and a number of high-quality exploration targets
  • Subject to approvals, COVID-19 border restrictions and drill rig availability, initial drilling is planned for early in Q2, 2021
  • Okapi Resources is up 26.7 per cent, trading at 28.5 cents per share

Okapi Resources (OKR) has completed the due diligence for the Enmore Gold Project in northeastern NSW.

Okapi is electing to proceed with its 100 per cent acquisition of the project from Providence Gold and Minerals, as per the terms of the binding heads of agreement.

Okapi has commenced the approvals and land access processes to begin exploration, including planned drilling and geophysics of the project, located 30 kilometres southeast of Armidale near the historical Hillgrove Antimony-Gold Mine.

Subject to approvals, COVID-19 border restrictions and drill rig availability, initial drilling is planned for early in Q2, 2021.

The project hosts two advanced walk-up drill targets, Sunnyside and Bora, plus a number of high-quality exploration targets.

Planning is underway for an initial six holes at the Sunnyside Prospect, which sits within an anomalous gold trend over 2.5 kilometres, to test below shallower historic mineralised drill holes that define anomalous gold over 400 metres of strike.

The gold mineralisation occurs in vertical to sub-vertical structures with an overall east-northeast trend.

At the Bora Mine, no detailed structural interpretation has been conducted to clarify strike and plunge of quartz veins to define and better target a mineralised shoot. This comes despite the fact 31 holes were previously drilled over a concentrated zone of 100 metres.

Okapi says it feels drilling has not adequately tested the Bora prospect, and mineralisation potential is considered open in all directions.

“The drill ready and high-grade nature of these exciting gold projects has justified Okapi in taking the next step forward with the Enmore Project,” said Okapi Executive Director, Andrew Shearer.

“Planning is well underway now to complete the 1000-metre drilling and $200,000 exploration program as part of Milestone One, allowing Okapi to make a decision to continue with the staged acquisition of the project.”

Additionally, Okapi plans to trial electrical geophysics at Enmore, as the lode and vein mineralisation styles identified at Enmore are potentially suited to definition using systematic 3D electrical geophysics techniques.

The Enmore Gold Project is underexplored and remains highly prospective for identifying potentially economic high-grade gold mineralisation on known prospects, and for discovering new mineralised areas.

Okapi Resources is up 26.7 per cent, trading at 28.5 cents per share at 4:00 pm AEDT.

OKR by the numbers
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