Oklo Resources acquired a 65% interest in the Sari Project while maintaining the option to acquire the remaining 35% in June 2020.
The acquisition of the Sari Project is central to the company’s broader strategy to acquire a significant landholding within the Birimian gold belt in western Mali.
Oklo Resources currently holds:
- 500 km2 of highly prospective ground in this emerging world-class gold region. The Sari Project is located less than 1 km east of the company’s flagship Dandoko Project in western Mali.
- Together with Kossaya and Kouroufing, the Sari Project forms part of a contiguous land holding of 175 km2
“Oklo’s strategy of building a significant foothold in this prolific region has delivered exceptionally well,” says Oklo Resources MD, Simon Taylor.
“We have already confirmed two bedrock gold discoveries at Kouroufing and first pass geochemical auger drilling at the adjoining Sari and Kossaya projects shows anomalous gold within these permits as well.
“We look forward to continued exploration across this recently acquired land package.”
The Sari Project covers an area of 14 km2 within the Kenieba Inlier to the east of the regionally significant Senegal Mali Shear Zone.
The SMSZ and associated northeast-trending splay structures are spatially related to several major gold projects including:
- Fekola (7.1 Moz)
- Loulo (12.5 Moz)
- Gounkoto (5.4 Moz)
- Yatela (3 Moz)
- Sadiola (15 Moz)
- Sabodala (10 Moz)
On the 27 May 2019, Oklo Resources announced the results from first pass shallow geochemical auger drilling with anomalies identified for follow up and a best intercept of 5 m at 0.59 g/t.
This geochemical auger drilling met Oklo’s commitment to fund a minimum of €117,000 in exploration expenditure at Sari during the first year.
The company has now exercised its right to acquire 65% of the Permit through the payment of €15,245.
Oklo has the right to increase its interest in the Permit to 100% via a further payment of 10,000,000 FCFA (approx. €15,000), or the equivalent in Oklo shares (at the vendor’s option) in June 2020.