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- Okapi Resources (OKR) is trading higher after announcing the results from its maiden drilling program at the Enmore Gold Project in Northern NSW
- Best hits include 174 metres at 1.83 grams of gold per tonne (g/t) from surface including three metres at 8.86 g/t gold from 171 metres
- OKR says the mineralisation remains open at depth and along strike with indications that grade may be increasing with depth
- It’s planning to carry out additional exploration and believes there is potential to define a large, shallow, open-pit gold resource
- Company shares have skyrocketed following the release of today’s results and are up 28.9 per cent at 67 cents each at 12:45 pm AEST
Okapi Resources (OKR) is trading higher after announcing the results from its maiden drilling program at the Enmore Gold Project in Northern NSW.
The company completed 10 drill holes for 1257 metres across the Sunnyside East, Sunnyside West and Bora prospects.
Best hits include 174 metres at 1.83 grams of gold per tonne (g/t) from surface including three metres at 8.86 g/t gold from 171 metres at Sunnyside East.
Sunnyside West returned results of seven metres at 1.25 g/t gold from 30 metres, including one metre at 5.61g/t gold from 36 metres, while drilling at Bora returned low-grade results.
OKR said the mineralisation at Enmore remained open at depth and along strike, with indications that grade might be increasing with depth.
Executive Director David Nour believes there is potential to define an open-pit gold resource at the asset.
“These results show the potential for a very large, shallow, high-grade gold deposit at our Enmore Gold Project, with mineralisation from surface with some of the highest grades returned below 170 metres,” Mr Nour said.
“The depth potential is very encouraging and we have multiple prospects that remain untested.”
Okapi is now planning a follow up exploration program to define a Maiden
Resource at Enmore, which is located near the operating Hillgrove Gold Mine.
Shares in Okapi Resources have skyrocketed since the announcement of today’s results, with OKR’s share price jumping from 52 cents to over 67 cents.
Company shares skyrocketed following the release of today’s results and were up 28.9 per cent at 67 cents each at 12:45 pm AEST.
