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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Oklo Resources Ltd    OKU   AU000000OKU1

OKLO RESOURCES LTD

(OKU)
End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 08/19
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08/18OKLO RESOURCES : Change of Director's Interest Notice - S Taylor
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08/16OKLO RESOURCES LIMITED : - Further Extensions to Seko Gold System
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08/14OKLO RESOURCES : Further Extensions to Seko Gold System
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Oklo Resources : Further Extensions to Seko Gold System

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08/14/2019 | 08:42pm EDT

15th AUGUST 2019

FURTHER EXTENSIONS TO SEKO GOLD SYSTEM

NEW ZONES IDENTIFIED FOR FOLLOW-UP DRILLING

HIGHLIGHTS

  • Assays received from shallow step-out and extensional drilling around the Seko gold system (SK1, SK2, SK3), with high-grade intersections of up to 27.4g/t gold returned.
  • Drilling successfully identifies new gold zones adjacent to and along strike of SK1, SK2 and SK3. Significant results include:
    • 10m at 2.33g/t gold from 39m; including 4m at 4.25g/t gold
    • 4m at 14.12g/t gold from 48m; including 2m at 27.40g/t gold
    • 9m at 2.73g/t gold from 84m; including 2m at 4.70g/t gold
    • 10m at 1.37g/t gold from 62m; including 2m at 4.47g/t gold
    • 2m at 9.15g/t gold from 8m and 1m at 16.40g/t gold from 23m
    • 4m at 2.66g/t gold from 88m and 4m at 2.01g/t gold from 38m
  • Drilling confirms strong potential for the Seko gold system to grow in extent, with several priority targets outlined for follow-up assessment:
    • A new gold target 300m to the north of SK2, with altered and sulphide-mineralised breccia similar to SK2 encountered.
    • Significant gold intersected (2m at 9.15g/t gold) to the immediate south of SK1, extending the previously defined mineralisation along strike.
    • Anomalous gold intersected (16m at 0.82g/t gold, including 4m at 1.38g/t gold) a further 600m south of SK1 towards the Sory prospect.
    • High-gradegold intersected to the immediate west of SK1 (4m at 14.12g/t gold), indicating potential for a new high-grade zone.
  • Further assay results pending from drilling completed at the Selingouma prospect, located some 10km south of Seko within the Dandoko gold corridor, and from the Lomona prospect located 3km northeast of Seko.

"The latest results from Seko have confirmed our long-held view that excellent potential remains to significantly grow the extent of Seko. Follow-up drilling will commence immediately following the wet season to further assess these new targets and explore for additional extensions and repetitions. In the meantime, work is progressing on constructing 3D geological models of the Seko gold mineralisation to further assist in our understanding of this extensive and structurally complex gold system." - commented Oklo's Managing Director, Simon Taylor

15th AUGUST 2019

Oklo Resources Limited ("Oklo" or "the Company") is pleased to announce results from the recently completed aircore (AC), reverse circulation (RC) and diamond core (DD) drilling programs at Seko, within its Dandoko Project in west Mali.

Oklo's flagship Dandoko Project is located within the Kenieba Inlier of west Mali, approximately 30km east of B2Gold's 7.1Moz Fekola Project and 50km south-southeast of Barrick's 12.5Moz Loulo Project (Figure 1). The Company currently holds ~500km2 of highly prospective ground in this emerging world-class gold region.

At Dandoko, extensive gold anomalies have previously been outlined by auger drilling along a 12km-long gold corridor (Figure 2). 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.

Figure 1: Location of Oklo's gold projects in west Mali.

PAGE 2 OF 19

15th AUGUST 2019

DANDOKO PROJECT - SEKO DRILLING

Assay results from 118 AC (for 10,342m), 7 RC (for 1,252m) and 1 DD (for 258m) drill holes at Seko have now been received.

The shallow AC holes were designed to explore for blind mineralisation between the three main Seko gold trends (SK1-3) and for extensions along strike (Figure 3). As part of this program, two long AC traverses were completed across the Seko gold trends with the holes drilled in a 'heel-to- toe' manner at -55° to an average downhole depth of 88m (vertical depth ~69m). The RC holes were designed to follow up previous mineralisation with several holes not reaching target depth due to ground conditions.

The significant drill hole intersections are summarised in Table 1. All drill hole locations are summarised in Table 2 and are graphically represented in Figures 3 to 5 and 7.

SK1

The AC traverses returned a number of significant results to the west, south and east of SK1. To the immediate west, 4m at 14.12g/t gold (including 2m at 27.40g/t gold) was intersected from 48m related to a potential blind zone of gold mineralisation that was undetected in the earlier auger geochemical drilling. To the immediate south and southwest of SK1, the AC holes returned several medium to high-grade intersections, including 2m at 9.15g/t gold, 4m at 2.01g/t gold and 2m at 2.93g/t gold, warranting further investigation.

Significantly, a step-out AC traverse located 600m south and along strike from SK1 intersected a 16m zone of low grade gold mineralisation (averaging 0.82g/t gold) that included 4m at 1.38g/t gold (Figure 5). This intersection may be related to a potential linking structure between SK1 and the Sory prospect, located some 1.2km to the south. This trend will be further investigated by reconnaissance AC drilling following the wet season.

RC hole RCSK19-082, located on the eastern side of SK1, intersected multiple zones of significant gold mineralisation, including 10m at 2.33g/t gold, 2m at 7.13g/t gold and 3m at 2.30g/t gold. The hole failed to reach the target depth and was subsequently redrilled. The RC pre-collar (hole RCSK19-083) encountered lower grade zones of gold mineralisation, including 9m at 2.73 g/t gold. The hole was completed to its target depth of 258m by diamond core (hole RDSK19-47), which intersected a shear zone within chloritised sediments hosting minor pyrite mineralisation without any significant associated gold mineralisation.

SK2

The two RC holes (holes RCSK19-084 & 085) completed 300m along strike to the north of SK2 confirmed a new gold target. Both holes intersected a significant zone of altered breccia with sulphide mineralisation hosting gold mineralisation grading up to 4.61g/t gold over 1m along with wider zones of anomalous gold mineralisation (up to 17m at 0.80g/t gold). The Company is highly encouraged by the discovery of further altered breccia, which has strong similarities to the main zone of gold mineralisation at SK2. Previous shallow reconnaissance AC drilling at this locality had returned 11m at 1.79g/t gold, including 2m at 5.01g/t gold1.

SK3

The AC traverses successfully intersected further gold mineralisation on the eastern side of SK3, including a best intersection of 10m at 1.37g/t gold, including 2m at 4.47g/t gold. The two RC holes drilled in the north of SK3 encountered several narrow zones of gold mineralisation, including a best intersection of 1m at 16.40g/t gold.

1 Refer ASX announcement of 3 September 2018 "Seko Delivers Exceptional High-Grade Gold and New Zone 400m North of SK2"

PAGE 3 OF 19

15th AUGUST 2019

DRILL RESULTS PENDING

Further assay results are expected in coming weeks from drilling completed at the Selingouma prospect, located 10km to the south of Seko, and from the Lomona prospect, located 3km northeast of Seko.

Figure 2: Location of Gold Targets within Dandoko Gold Corridor

NEXT STEPS

The latest drill results have provided positive indications that the already extensive Seko gold system remains open, with several new priority targets earmarked for follow-up evaluation immediately following the current wet season.

The Company is presently compiling 3D geological models of the gold mineralisation at Seko using proprietary Leapfrog software to assist in the understanding of this structurally complex gold system. The models will also assist in planning of the next phase of exploratory drilling at Seko.

The first output received for SK2 displays the gold mineralisation at a range of cut-off grade (Figure 4). Further progress updates on this modelling will be provided in the near future.

- ENDS -

For further information, please contact:

Simon Taylor

Managing Director

T: +61 2 8319 9233

E: staylor@okloresources.com

PAGE 4 OF 19

15th AUGUST 2019

Figure 3: Location of previous and new results from AC, RC and DD drillholes over Seko Anomalies SK1-SK5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Oklo Resouces Limited published this content on 15 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2019 00:41:08 UTC

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Managers
NameTitle
Simon James Robson Taylor Chief Executive Officer, Director & MD
Simon Thomas O'Loughlin Non-Executive Chairman
Lara Iacusso Chief Financial Officer
Madani Diallo Non-Executive Director
Louisa Anne Martino Secretary
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