Shares for Oklo Resources Ltd [ASX:OKU] are up over 11.5% today. The Oklo share price increased from $0.13 to $0.145 at time of writing.
Oklo Resources is an ASX listed resources company with projects in gold, uranium and phosphate in Mali, Africa. Their priority is their 11 gold projects in Mali, which cover an extension of 1,405sqm.
Why is the Oklo Resources share price up today?
The company announced the outcome of their 10,000m drilling program at Seko, in the Dandoko Project, in Mali. According to the company, they have had ‘outstanding results’.
The Dandoko Project is located in the Kenieba Inlier of West Mali, about 50km south east from Barrick’s Loulo 12.5Moz and 30km from B2 Gold Fekola Project 7.1 Moz, as you can see from the diagrams below.
Source: Oklo Resources
According to the company, the results from the infill drilling at SK2 ‘confirm the presence of a thick, coherent zone of high-grade gold mineralisation’.
Some of the significant intersections include 65m at 7.11 grams per tonne gold from 4m, including 9m at 16.76 g/t from 13m and 16m at 12.45g/t gold from 29m, including 4m at 28.07g/t gold from 40m.
Another intersection is 53m at 4.34g/t gold from 95m including 15m at 7.20 g/t gold from 108m, and 8m at 6.62g/t gold from 139m. Also, 56m at 2.28 g/t gold from 24m including 3m at 6.17g/t gold from 73m.
As managing director Simon Taylor said on the announcement:
‘The Seko gold trends are consistently delivering results beyond expectation and our understanding of the extensive gold system and confidence in unveiling further discoveries is growing by the day.’
What could happen next for OKU?
While Oklo shares are still trading over 40% lower than at the beginning of this year, the market has liked the company’s recent drilling results.
And, with gold prices increasing this year, it’s not surprising that there is a lot of excitement building in gold and gold exploration.
In a recent interview author and gold expert Jim Rickards and editor Greg Canavan talk about the truth behind the gold price rises here in Australia.
To watch this free interview, click here.
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