Oklo Resources accelerates resource definition drilling in Mali following high-grade gold discovery and capital raising

Oklo Resources Ltd (ASX:OKU) (FRA:JYA) has accelerated resource definition drilling at Seko within its flagship Dandoko Gold Project in Mali following the high-grade SK1 North discovery and a $12.5 million capital raising.

Drilling at SK1 will continue until the onset of the wet season, expected in July, with the delivery of a maiden mineral resource estimate expected in the second half of 2020.

The West African-focused gold explorer has 11 gold projects covering 1,393 square kilometres and concentrated in two key areas: West Mali (Dandoko, Kouroufing, Moussala, Sari, Kossaya, Kandiole and Socaf) and South Mali (Yanfolila, Solabougouda, Sirakouroul and Kondieba).

Both groups of permits are near multi-million-ounce gold mining operations and recent discoveries. Its flagship projects are Dandoko and Kouroufing in West Mali.

Oklo remains well-funded with cash reserves of around $16 million as at March 31, 2020. It raised gross proceeds of $12.5 million through the issue of more than 59.5 million shares at 21 cents per share in March.