Join our daily newsletter At The Bell to receive exclusive market insights
- Oklo (OKU) has returned outstanding gold intersections at its flagship Dandoko Project in West Mali, Africa
- Strong assay results were returned in six diamond drill (DD) holes and one reverse circulation (RC) hole from the SK1 North discovery at Seko
- One intersection proved extremely encouraging with more than 30 grams of gold per tonne was discovered in a metre of drilling at a depth of 123 metres
- This was backed up by a 28.6 g/t gold find in another metre section, although it was much deeper, this time at 242 metres
- Oklo is still on track to announce its Mineral Resources Estimate in the second half of the year, barring any impacts as a result of the COVID-19 pandemic
- Despite the promising news, Oklo is trading down at 14.9 per cent at 28 cents a share
Gold mining outfit Oklo (OKU) has returned several outstanding gold intersections at its flagship Dandoko Project in West Mali, Africa.
More than half a dozen assay results returned high-grade mineralisation from six diamond drill (DD) holes and one reverse circulation (RC) hole from the SK1 North discovery at Seko.
With the company nearing an early milestone with its Maiden Mineral Resource Estimate (MRE) on track to be announced in the second half of 2020, one cross-section returned nearly an ounce of gold to the tonne.
The 30.30g/t gold cross-section was discovered via a one-metre dig at 123 metres.
This was backed up by a 28.6 g/t gold find following a metre dig, although it was much deeper, this time at 242 metres.
Oklo Managing Director, Simon Taylor, said the results mean the company will extend its drilling program at Seko until the forthcoming wet season.
“While this may push the completion of our maiden MRE into the second half of 2020, we hope that ongoing exploration success at SK1 North will be an equally rewarding outcome for shareholders,” Mr Taylor commented.
The expanded RC and DD drilling program at SK1 North is ongoing, with a further 18 holes completed and awaiting assays.
Oklo remains well-funded and with ongoing success, the evaluation of this discovery is now planned to continue until the onset of the wet season in West Africa, which is expected to be in July, subject to the potential impacts of the COVID-19 pandemic.
Despite the promising news, Oklo is trading down at 14.9 per cent at 28 cents a share at the close of the market.
