Oklo Resources Ltd (ASX:OKU) (FRA:JYA) remains focused on continued drilling at nearby prospects as a maiden mineral resource estimate within the wider Dandoko Project in west Mali highlights future mining potential.
During the half-year ending December 31, 2020, the company concluded its 2020 field season with a focus on resource definition drilling at the high-grade SK1 North discovery at Seko, with results intersecting significant widths of deep gold mineralisation.
Following a hiatus for the wet season, the 2021 field season started in late October with an initial 15,000 metres drilling program predominantly targeting the 3-kilometre-long SK1 North to Koko trend at Seko, which remains open at depth and along strike.
On March 30, 2021, the company delivered a measured, indicated and inferred resource of 11.3 million tonnes at 1.83 g/t gold for 668,500 ounces encompassing the Seko, Koko, Disse and Diabarou deposits at its flagship Dandoko Project.
Oklo believes this mineral resource estimate (MRE) is an important milestone and will underpin a scoping study on a potential low-cost open pit mining operation.
The company remains well-funded with cash reserves of $17.3 million as at the end of December 2020.
Dandoko Project
The Dandoko permit totals 100 square kilometres and is in west Mali.
Oklo’s exploration programs within the project area have led to the discovery of multiple gold prospects, with Seko being the company’s most advanced.
The Seko prospect comprises five coherent gold trends (SK1-5) with a combined strike length of 7 kilometres within the flagship Dandoko Project.
Following the MRE at Dandoko, the scoping study will focus on initial development of the high-grade oxide mineralisation extending to surface, with the deposit having a strong grade-tonnage cut off characteristic with over 60% of contained ounces above a 2.0 g/t gold grade cut-off.
All deposits remain open and are expected to grow with ongoing drilling along strike or at depth.
This measured, indicated and inferred estimate follows years of hard work for Oklo, which acquired the Dandoko project from Compass Gold Corp (CVE:CVB) in 2013.
It is constrained within optimised pit shells with 79% classified within the measured and indicated resource categories.
Oklo managing director Simon Taylor said the estimate represented a “major turning point” for the company.
“It provides a strong platform in our quest to build a multi-million-ounce resource inventory within this world-class gold province."
Other projects
And while the Dandoko project is Oklo’s main focus, it has another 10 operational projects in west and south Mali, including the nearby Kouroufing and Kandiole projects where drilling is underway.
At the company’s Kandiole project, first pass geochemical auger drilling results for 779 auger holes (average depth 13 metres) totalling 10,072 metres were received.
Four large geochemical gold anomalies were identified over strike lengths up to 2.4 square kilometres, which will be followed up with deeper drill testing.
The program was designed upon initial field mapping and was prioritised based on geophysical interpretations and field observations.