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Oklo Resources surges as it hits up to 32 metres at 10.57 g/t gold and extends SK1 North discovery

The expanded drilling program is ongoing and the company hopes to incorporate SK1 North into a resource estimate scheduled for completion next quarter.

Oklo Resources Ltd - Oklo Resources hits 102.37 g/t gold extending SK1 North discovery at Dandoko Project
The SK1 North discovery has been extended to 500 metres in strike length

Oklo Resources Ltd (ASX:OKU) has hit broad, high-grade gold results, including 32 metres at 10.57 g/t and 38 metres at 5.65 g/t during resource definition drilling at its flagship Dandoko Gold Project in west Mali.

These latest results are from an expanded drilling program over the SK1 North at Seko prospect and have extended the discovery to 500 metres in strike length and to a vertical depth of up to 145 metres.

The 38-metre intersection was from 159 metres and included 10 metres at 19.22 g/t from 165 metres, which in turn included 6 metres at 30.94 g/t from 168 metres and within this was1-metre at 102.37 g/t from 172 metres.

Within the 32-metre intersection from 52 metres was 10 metres at 30.96 g/t from 58 metres.

Shares up almost 44%

These results from a further 28 reverse circulation (RC) holes and one diamond hole have seen the company's shares surge almost 44% to an intra-day high of 23 cents.

Managing director Simon Taylor said: “With SK1 North emerging as game-changer for Oklo, all efforts are being made to fast-track its evaluation prior to finalising our maiden mineral resource estimate.

“The step-out drilling has now confirmed the strike length over 500 metres, with the deeper diamond drilling continuing to extend the zone at depth."

Maiden resource upcoming

Oklo is set to continue the RC and diamond drilling program down-dip and along strike to the north to accelerate the evaluation of SK1 North for incorporation into the maiden mineral resource estimate, which is anticipated for completion in the June quarter of 2020.

Aircore drilling south of Seko towards the Koko discovery is complete with assay results pending.

Other strong new results:

  • 26 metres at 7.54 g/t from 70 metres, including 8 metres at 14.44 g/t from 84 metres;
  • 20 metres at 3.32 g/t from 100 metres including, 5 metres at 8.64 g/t from 112 metres; and
  • 8 metres at 9.52 g/t from 22 metres, including 2 metres at 31.85 g/t from 24 metres.

Taylor said: “We are particularly delighted with the exceptional results returned from Section D in the north, including 32 metres at 10.57 g/t gold and 26 metres at 7.54 g/t gold, with several of these holes ending in mineralisation.

“The northernmost traverse indicates that the zone is swinging towards the north and drill coverage is currently being extended over this area.

“We look forward to providing further updates on our progress at SK1 North in the weeks ahead, which so far remains unaffected by the COVID-19 pandemic.”

Oklo’s gold projects in west Mali

Extensive gold anomalies have previously been outlined by auger drilling along the 12-kilometre-long Dandoko gold corridor.

The potential of this corridor to host large, gold mineralised systems has been demonstrated by the recent drilling success at Seko and several other nearby prospect areas.

Drilling is continuing at SK1 North with a steady flow of results expected in coming weeks.

Assay results are also pending from around 9,500 metres of reconnaissance aircore drilling between Koko and SK1, with the samples from SK1 North being given priority.

Quick facts: Oklo Resources Ltd

Price: 0.31 AUD

ASX:OKU
Market: ASX
Market Cap: $156.1 m
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