ASX-listed Oklo Resources has completed an agreement to acquire 100% of the Kandiole Sud project in West Mali.
The Kandiole project is located approximately 5 km southwest from Oklo Resources’ flagship Dandoko project and 10 km southeast of B2Gold’s operating Fekola mine in Mali, West Africa.
Under the terms of the agreement, Oklo will pay US$200 000 and issue 1 319 261 ordinary shares in the company to Sarama Investments (Sarama Resources) within the next two business days. A further 791 557 Oklo shares will be issued to Sarama Investments within two business days following the date on which Oklo or its nominee is registered by the Mali Ministry of Mines as the 100% owner of the Kandiole permit.
Oklo Resources will commence work on the project immediately, with data compilation and planning of auger geochemical drilling currently in progress. Similar reconnaissance auger bedrock geochemistry has been instrumental in the identification of recent gold discoveries at the company’s Dandoko project.
The Kandiole project covers a largely unexplored tract of highly prospective Proterozoic Birimian greenstones in a comparable geological setting to the nearby, multi-million ounce gold mining operations and recent discoveries.
Oklo Resources has identified northeast-trending structures within the project area similar to those outlined within the company’s nearby Dandoko project which are associated with the 12 km long, northeast-trending gold corridor recently outlined by auger geochemistry.
The Proterozoic Greenstone Belts of West Africa (also known as Birimian Greenstone Belts) encompass a vast area of approximately 350 000 km2. World-class gold deposits situated within the Birimian Greenstone Belts have been discovered in the countries of Côte d’Ivoire, Burkina Faso, Ghana, Guinea, Mali, Niger, Senegal and Côte d’Ivoire.
The Kandiole project comprises a single granted permit covering 116 km2 in area within the Kenieba Inlier to the immediate east of the regionally significant Senegal Mali Shear Zone (SMSZ). The SMSZ and associated northeast-trending splay structures are spatially related to several major gold deposits including: Fekola (5.2 Moz), Loulo (12.5 Moz), Gounkoto (5.4 Moz), Yatela (3 Moz), Sadiola (15 Moz) and Sabodala (10 Moz).