Fully funded drill program will build on the
success of previous exploration efforts, targeting strike and depth
extensions, as well as new gold mineralized zones
Kobo Resources Inc. ("Kobo” or the "Company")
(TSX.V: KRI) is excited to announce the resumption of
diamond drilling at its 100%-owned Kossou Gold Project
(“Kossou”) in Côte d'Ivoire. This 10,000 metre (“m”)
drill program will target key gold zones identified in previous
exploration efforts, including the Jagger Zone, Road Cut Zone,
Kadie Zone, and Contact Zone.
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the full release here:
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Figure 1: Drill Program Gold Targets and
Overview (Graphic: Business Wire)
Highlights:
- Fully funded 10,000 m drill program: With approximately
$6.0 million in cash, Kobo is well-capitalized to execute this
drill program and continue exploration into the new year
- Multiple high-potential gold targets: The team is
focused on significant gold mineralization potential across four
key zones—the Jagger Zone, Road Cut Zone, Kadie Zone, and the
Contact Zone, with the first ever diamond drill holes planned for
this target
- Leveraging the strengths of Mota-Engil: As a strategic
shareholder and partner, Mota’s global expertise and local presence
is expected to assist in accelerating Kobo’s growth in Africa
- Onsite base camp being established: A new base camp is
being set up on site to increase efficiency and reduce costs
- New water well installation: The water well will not
only serve Kobo’s base camp, but will also provide fresh water to
the local community of Bocabo as part of Kobo’s commitment to
responsible exploration practices
Edward Gosselin, CEO and Director of Kobo commented: “This is an
exciting time for Kobo as we reinitiate our diamond drilling
campaign on highly prospective gold targets at Kossou. We are fully
funded for this program and into next year, providing us with the
resources to aggressively pursue our exploration objectives. The
key zones we're targeting hold significant potential, and this new
program will build on previous success by testing depth extensions
and uncharted mineralized areas.” He continued: “We are also proud
of our commitment to responsible exploration, highlighted by the
fresh water well initiative that will benefit and support the local
Bocabo community. Looking beyond Kossou, we are dedicated to
advancing our regional exploration strategy, bolstered by the
support of our strategic partner, Luso Global Mining. We remain
focused on delivering results for our shareholders and are excited
about the opportunities that lie ahead.”
Gold Target Zones for the Drill Program:
Jagger Zone
The Jagger Zone is defined by a 2 kilometre (“km”) long
gold in soil geochemical anomaly that has been trenched and drilled
over a 1 km strike extent and remains open to the north and south.
Drilling from this program will focus on the core of the zone,
testing extensions of mineralised structures to depth and north of
KRC011 (19 m at 2.03 g/t Au). The Jagger Zone remains open at depth
with the deepest intercepts approximately 125 below surface. This
drill program will also test for mineralisation 175 to 200 m below
surface and based on positive results, could explore up to 250 m
below surface.
Drilling will also test mineralisation south of section JZ 700
(KDD0001 – 38.2 m at 1.55 g/t Au and KDD0021 – 14 m at 2.91 g/t Au)
with the goal of extending gold mineralisation south to connect
with previous drilling from the Company’s 2023 Reverse Circulation
(“RC”) drill program, with results up to 6 m at 4.31 g/t Au
(KRC015). This untested gap is approximately 350 in length. Several
holes are also planned to undercut previous RC drilling in this
area. Hole RC0021 intersected several zones of gold mineralisation
including 18 m at 0.60 g/t Au, 6 m at 0.70 g/t Au and 3 m at 1.23
g/t Au, indicating the shear system remains well mineralised.
The Company will drill approximately 3,700 m of diamond drilling
in 17 holes at the Jagger Zone as part of this program.
Road Cut Zone
The Road Cut Zone is defined by a 1.6+ km long gold in soil
anomaly and has been trenched and drilled over approximately 900 m
strike length. Multiple mineralised shear zones have been
identified during the Company’s 2023 RC drilling program (KRC044 –
13 m at 2.10 g/t Au) and from the most recent diamond drilling
(KDD0012 – 11 m at 1.71 g/t Au) efforts. Mineralisation is open to
the south, with the most southernly hole on the target returning 11
m at 1.13 g/t Au (KDD0018). This program will continue to test
mineralisation to the south where the target may ultimately join
mineralisation at both the Jagger and Kadie zones. Drilling to date
has been confined to about 100 m below surface and the current
program will test mineralisation to approximately 150 m below
surface and fill in gaps in drilling defined in our most recent
diamond drilling program.
The Company will drill approximately 3,700 m of diamond drilling
in 18 holes at the Road Cut Zone as part of this program.
Kadie Zone
Mineralisation at the Kadie Zone is based on strong gold in soil
geochemical anomalies and trenching over 1 km strike length. To
date, only five diamond drill holes have been completed on three
northwest trending structures, highlighted by KDD005 – 9 m at 23.89
g/t Au and KDD0024 – 7 m at 1.91 g/t Au. Drilling has only tested
to approximately 50 m below surface and mineralised shears remain
open in all directions.
The Company will drill approximately 1,000 m of diamond drilling
in 7 holes at the Kadie Zone as part of this program.
Contact Zone
The Contact Zone Fault has been identified as a significant
first order structure and is viewed as a deep-seated discontinuity
that may be responsible for channelling gold bearing fluids during
progressive structural deformation of the area. A strong gold in
soil geochemical anomaly (+50 ppb Au) can be traced over a 2.5 km
distance along this potential target. During a structural study
completed in October 2023 by the Company’s structural geologist,
Dr. Ghislain Tourigny, a strong deformation corridor was mapped
west of the Contact Zone Fault. Dr. Tourigny noted the strongest
gold mineralisation in the volcanic hosted shear systems were
within 300 to 500 m of this structure. The proximity of strong gold
mineralisation at the Road Cut, Jagger and Kadie zones and the
presence of significant artisanal mining along the geophysical
trace of this fault near Lake Kossou presents a very intriguing
target that will be explored during this drill campaign.
The Company will drill approximately 700 m of diamond drilling
in 7 holes at the Contact Zone as part of this program.
Review of Technical Information
The scientific and technical information in this press release
has been reviewed and approved by Paul Sarjeant, P.Geo., who is a
Qualified Persons as defined in National Instrument 43-101. Mr.
Sarjeant is the President and Chief Operating Officer and Director
of Kobo.
About Kobo Resources Inc.
Kobo Resources is a growth-focused gold exploration company with
a compelling new gold discovery in Côte d'Ivoire, one of West
Africa’s most prolific and developing gold districts, hosting
several multi-million-ounce gold mines. The Company’s 100%-owned
Kossou Gold Project is located approximately 20 km northwest of the
capital city of Yamoussoukro and is directly adjacent to one of the
region’s largest gold mines with established processing
facilities.
The Company is drilling to unlock the potential size and scale
of Kossou within 9+ km strike length of highly prospective gold in
soil geochemical anomalies with excellent rock and trench sampling,
as well as drill results. Significant gold mineralisation has been
identified at three main targets within a 300 m wide, 2+ km long,
pervasively altered structural corridor defining a potentially
large orogenic gold system. In 2023, the Company completed
approximately 5,900 meters of reverse circulation (RC) drilling and
5,400 meters of trenching, alongside 4,368 meters of diamond
drilling in 2024. Moving forward, the Company plans to conduct an
additional 10,000 meters of core diamond drilling during the
remainder of 2024 at key targets at the Kossou Gold Project. The
Company also plans on additional exploration on its Kotobi Permit
and pending approval for over 600 km2 of prospective ground as part
of its strategic efforts to expand its footprint in Côte
d'Ivoire.
Kobo remains committed to identifying and developing new
opportunities to enhance its land position and growth in the
region. Kobo offers investors the exciting combination of
high-quality gold prospects led by an experienced leadership team
with in-country experience. Kobo’s common shares trade on the TSX
Venture Exchange under the symbol "KRI”. For more information,
please visit www.koboresources.com.
X: @KoboResources | LinkedIn: Kobo Resources Inc.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statement on Forward-looking Information:
This news release contains “forward-looking information” and
“forward-looking statements” (collectively, “forward-looking
statements”) within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements. Any statement that
involves discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions, future events
or performance (often but not always using phrases such as
“expects”, or “does not expect”, “is expected”, “anticipates” or
“does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”,
“estimates”, “believes” or “intends” or variations of such words
and phrases or stating that certain actions, events or results
“may” or “could”, “would”, “might” or “will” be taken to occur or
be achieved) are not statements of historical fact and may be
forward-looking statements, including statements related to the
expected timing of commencement and completion of our diamond drill
program and the results of the drill program. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable as at the date of
this news release, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results
and future events to differ materially from those expressed or
implied by such forward-looking statements. Such factors include,
but are not limited to: general business, economic, competitive,
political and social uncertainties; the inherent risks involved win
the exploration and development of mineral properties;
unanticipated costs and expenses; the delay or failure to receive
board, shareholder or regulatory approvals; and other risk factors
listed from time to time in our documents filed with Canadian
securities regulators on SEDAR+ at www.sedarplus.ca. There can be
no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on the forward-looking statements and
information contained in this news release. Except as required by
law, Kobo assumes no obligation and/or liability to update the
forward-looking statements of beliefs, opinions, projections, or
other factors, should they change, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240917069581/en/
For further information: Edward Gosselin Chief Executive Officer
and Director 1-418-609-3587 ir@kobores.com
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