QUEBEC CITY--(BUSINESS WIRE)--Jul 4, 2023--
Kobo Resources Inc. (" Kobo” or the " Company ") ( TSX.V: KRI ) is pleased to announce it has commenced its first-phase drill program at the Company’s 100%-owned Kossou Gold Project (“ Kossou ”) in Cote d’Ivoire, one of West Africa’s most prolific gold districts.
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Figure 1: Proposed 2023 Drill Program (Graphic: Business Wire)
A total of 8,000 metres (" m ") of reverse circulation (" RC ") drilling is planned this year which will be conducted in two phases. The drilling will initially target three priority zones, the Jagger Zone, the Road Cut Zone and the Contact Zone (Figure 1) based on the previously reported high-grade gold mineralization intersected in rock and trench samples.
The first phase program will consist of 45 inclined boreholes ranging between 50 m and 230 m depth totalling 4,250 m. A total of 23 holes will be completed at Jagger (2,650 m), 10 holes at the Road Cut Zone (1,000 m), and 12 holes (600 m) in the Contact Zone.
The second phase RC drilling totalling 3,750 m will be completed after a short pause in drilling in order to evaluate the results from Phase 1 and to plan the construction of additional drill platforms at the Jagger South Zone and at other targets generated by the Company.
Edward Gosselin, CEO and Director of Kobo commented: “With the completion of the road access and drill platforms, we are pleased to have started our maiden drill program at the Kossou Gold Project with the immediate objective of defining the strike and down-dip extensions of the gold mineralization identified on surface. The recently reported high-grade intersection averaging 29 m at 6.42 g/t Au in trench KTR028 at Jagger Zone represents our primary target, and we look forward to delineating a significant gold bearing shear structure in this area.”
He continued: “The Road Cut Zone and Contact Zone remain highly prospective targets at Kossou with significant potential for additional gold bearing structures to be discovered. As part of our ongoing exploration program, we are currently completing regional and detailed geological mapping and geochemical sampling programs across several new target areas.”
Jagger Zone: Primary Target for 2023 Exploration Program Following Recent Trench Results
The Jagger Zone is represented by a major, well-defined north-south trending shear zone which is defined by the largest and strongest soil geochemical anomaly discovered at Kossou to date. The Company has confirmed the existence of strong gold mineralisation through detailed infill soil sampling, geological mapping and trenching. The Jagger Shear Zone is approximately 1.85 km in strike length with peak gold in soil concentrations up to 112 g/t Au.
Recently released sampling results for trench KTR028 (see press release dated June 7, 2023) intersected several high-grade gold zones. The most westerly zone features 6.42* g/t over 29.0 m, including sub-intervals of 18.04 g/t Au over 5 m, 11.44 g/t over 8 m and 5.53* g/t Au over 17 m. The total strike length of the Jagger Zone, including untested geochemical anomalies, will be the primary target of the 2023 drill program.
Road Cut Zone
The Road Cut Zone was initially discovered during early exploration work at Kossou and lies within another shear zone hosting strongly altered volcanic rocks heavily crosscut by quartz and quartz-carbonate veins/veinlets. The original exposure returned 4.64 g/t Au over an 18.2 m in continuous chip samples.
Further rock sampling confirmed grades and expanded the extent of the showing. Gold in soil geochemistry indicates that this target can be traced over a strike length of 1.7 kilometers and remains a prime target for drilling in 2023. Recent trenching has exposed a new mineralisation that assayed 11.30 g/t Au over 4.0 m (KTR003), 8.48 g/t Au over 1.00 m (KTR001) and 8.50 g/t Au over 3.4 m (KTR012).
Contact Zone
The Company considers the Contact Zone as being a target with excellent potential for significant gold mineralization, particularly in the area where the Jagger Shear Zone intersects the contact between meta-volcanic and meta-sedimentary rocks. There has been small-scale artisanal mining of free gold along the shoreline of Lake Kossou in this area and airborne magnetic data shows the artisanal mining aligns directly above and along and the interpreted geological contact. Recent geological mapping and rock chip sampling have identified grades of 7.10 g/t Au in a sheared meta-sediment float sample.
Sampling, QAQC, and Analytical Procedures
All samples were analysed at the SGS facility in Yamoussoukro using a 50 g Fire Assay with an AA finish (FAA505 with prep code PRP87). Samples assaying greater that 5.0 g/t Au were re-submitted for Fire Assay with Gravimetric finish (FAG505). Those values were considered final. All QAQC control samples returned values within acceptable limits.
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 Cote 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 results. The Company’s 2023 exploration plan calls for over 8,000 meters of reverse circulation drilling with an immediate goal of defining significant near surface zones of gold mineralisation. 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.
Twitter: @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 and are based on expectations, estimates and projections as at the date of this news release. 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 Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, 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; and the delay or failure to receive board, shareholder or regulatory approvals. 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230704102706/en/
CONTACT: Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: NATURAL RESOURCES OTHER NATURAL RESOURCES MINING/MINERALS
SOURCE: Kobo Resources Inc.
Copyright Business Wire 2023.
PUB: 07/04/2023 09:00 AM/DISC: 07/04/2023 08:59 AM
http://www.businesswire.com/news/home/20230704102706/en
