- Oklo Resources (OKU) has delivered an initial JORC 2012 mineral resource estimate (MRE) for its Dandoko Project in west Mali
- Dandoko’s mineral resource sits at 11.3 million tonnes at 1.83g/t gold for 668,500 ounces of contained gold across the Seko, Koko, Disse and Diabarou deposits
- Importantly, 79 per cent of the resource is in the measured and indicated category, with mineralisation open along strike and at depth
- Delivering this MRE represents a milestone for the company and paves the way for a scoping study
- This study will assess Dandoko’s potential to be a low-cost, open-pit mining operation
- Additionally, Oklo has begun drilling which is aimed at expanding the mineral resource
- Company shares are down 9.09 per cent and are trading at 15 cents
Oklo Resources (OKU) has delivered an initial JORC 2012-compliant mineral resource estimate (MRE) for its Dandoko Project in west Mali.
The gold project has a measured, indicated and inferred mineral resource of 11.3 million tonnes at 1.83g/t gold for 668,500 ounces of contained gold at a 0.3g/t cut-off grade.
The resource includes the Seko, Koko, Disse and Diabarou deposits — all of which remain open and are expected to grow either along strike or at depth.
Importantly, 56 per cent of the contained ounces are in the measured category and 23 per cent is in the indicated category, for a total of 79 per cent across both.
“Our initial mineral resource at Dandoko represents a major turning point for the company and provides a strong platform in our quest to build a multi-million-ounce resource inventory within this world-class gold province,” Managing Director Simon Taylor said.
The resource estimate is an important milestone for Oklo to conduct its scoping study which will assess the Dandoko Project’s potential to be a cost-efficient open-pit mining operation.
So far, there is strong potential for an operation of this kind due to 65 per cent of the MRE being soft oxide mineralisation. When combined with the high metallurgical recoveries, these factors bode well for low-cost open-cut mining scenarios.
“The robust MRE announced today is a key input into our scoping study focused on a low-cost open pit operation with a straightforward process flowsheet exploiting the oxide mineralisation, which will be undertaken while advancing our aggressive resource expansion and exploration drilling programs,” he added.
The scoping study will initially focus on developing the high-grade oxide mineralisation extending to the surface.
Oklo has begun targeted drilling which is aimed at expanding the MRE.
Company shares are down 9.09 per cent and are trading at 15 cents at 1:44 pm AEDT.