Kobo Resources Inc. ("Kobo” or the "Company")
(TSX.V: KRI) is pleased to announce the commencement of
approximately 4,000 to 5,000 metres (“m”) of diamond
drilling as part of the first phase of the Company’s 2024
exploration program at its 100%-owned Kossou Gold Project
(“Kossou”) located in Côte d'Ivoire, West Africa.
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the full release here:
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Figure 1: 2024 Diamond Drill Program on
Large Geochemical Anomalies (Graphic: Business Wire)
The Company’s 2024 drill program is designed to follow up on
results from its inaugural 2023 exploration program which
identified multiple shear zones of gold mineralisation in three key
targets with a combined strike length of over four kilometres. The
Company’s 2023 exploration program consisted of 5,887 m (53 holes)
of reverse circulation (“RC”) drilling and approximately
5,400 m (93 trenches) of trenching, which outlined significant gold
mineralisation at the Jagger Zone, Road Cut Zone and Kadie
Zone.
The Company has initiated its first phase of diamond drilling to
gain further understanding of the detailed structural controls to
gold mineralisation at Kossou as well as the association between
the strong, through going N-S shear zones and the intersection of
those structures with high-grade WNW-ESE and E-W quartz veins
(“V2” veins) as documented by Dr. Ghislain Tourigny in the
detailed structural report provided to the Company in October 2023
(see press released dated November 1, 2023). The Company’s
structural report outlined a significant 300- to +400-meter-wide
deformation and alteration zone mapped over a 3+ km strike extent
south from the Road Cut Zone, situated in the hanging wall of a
crustal scale first order fault identified as the Contact Zone
Fault. The study also indicates the system contains two styles of
gold mineralisation including: 1) a replacement style composed of
disseminated sulphides and carbonates in highly silicified basalts
and 2) late quartz-carbonate veins that obliquely crosscut the
silicified mineralisation and shear zones. Significant gold
mineralisation occurs within both styles of mineralisation and
further geological work indicates this structural corridor extends
south through the Jagger Zone, over 3.5 kilometers, suggesting the
presence of a significant mesothermal gold system at Kossou. The
Road Cut Zone, Jagger Zone and Kadie Zone are believed to host
similar structure and mineralising controls.
2024 Drill Program Overview – First Phase:
- Jagger Zone: The Company is planning for approximately
1,200 m of drilling (5-6 holes) at the Jagger Zone, which
represents the largest and strongest soil geochemical anomaly yet
discovered at Kossou. The goal of the initial phase of diamond
drilling at the Jagger Zone is to further confirm the structural
interpretation of the zone. In 2023, the Company completed a total
of 25 RC drill holes for 3,164 m and has recorded broad zones of
gold mineralisation within a N-S major shear structure with
high-grade sections associated with a cross-cutting V2 vein system
over a total strike extent of 1,400 m. Significant gold
mineralisation was intersected in each hole drilled during the
Company’s 2023 drill program, including key drill intercepts:
- KRC002: 20 m at 1.87 g/t Au, incl. 3 m at 6.28 g/t
Au
- KRC011: 19 m at 2.03 g/t Au, incl. 6 m at 4.00 g/t
Au
- KRC009: 48 m @ 1.03 g/t Au, incl. 15 m at 1.70 g/t
Au
- Road Cut Zone: The Company is planning for approximately
2,400 m (15-16 holes) of drilling at the Road Cut Zone with a goal
delineating the 500 m gap identified between KRC044 and KRC051 (see
press release dated January 15, 2024), which is underlain by a
strong gold soil geochemical anomaly and further defining the
structural interpretation of the zone. The Company completed 1,699
m of RC drilling in 13 holes in 2023 and has defined broad zones of
gold mineralisation with high-grade sections hosted within sheared
and silicified volcanic units over a strike length of 850 m. Key
drill intercepts from the 2023 RC drill program on the Road Cut
Zone include:
- KRC044: 13 m at 2.10 g/t Au, incl. 2 m at 10.41 g/t
Au
- KRC022: 9 m at 3.18 g/t Au, incl. 2 m at 8.38 g/t
Au
- Kadie Zone: The Company plans to drill approximately
1,400 metres (8-10 holes) at the Kadie Zone, an exciting and
undrilled geochemical anomaly. Previously completed infill soil
sampling identified three strong S-E trending geochemical anomalies
totaling a 1+ km strike length located just west of the main Jagger
Zone with structural and lithological characteristics similar to
those found at the prospective Jagger gold bearing shear zone.
Significant trench results previously reported include:
- KTR036: 22 m at 2.73 g/t Au, incl. 4 m at 12.92 g/t
Au
- KTR063: 13 m at 2.80 g/t Au, incl. 1 m at 31.30 g/t
Au
- KTR065: 7 m at 4.78 g/t Au, incl. 1 m at 21.70 g/t
Au
- Diamond drill holes at all targets will be oriented
approximately 070o to better intersect the N-S shear zones and the
high-grade V2 vein sets, which is now understood to contain
significant gold within the system as identified from surface
trenching and detailed mapping
- Additional trenching, geological mapping and soil geochemistry
will be completed throughout the Company’s 2024 drill program
Edward Gosselin, CEO and Director of Kobo commented: “Due to the
great success of our first drill program completed in Q3 2023, we
have been very keen to commence the second pass of drilling at
Kossou. In the initial drilling program undertaken in 2023,
significant amounts of gold mineralization were intersected in
almost all holes, which is virtually unprecedented. After making
significant discoveries at our three key and highly prospective
targets: the Jagger Zone, Road Cut Zone, and Kadie Zone, we look
forward to completing our second drilling program at Kossou.”
He continued: “Our objective is to rapidly advance these key
targets by testing our growing understanding of the structure and
controls to gold mineralisation at our key targets. We are excited
to drill a significant portion of the soil geochemical anomaly at
the Road Cut Zone that was previously inaccessible and to complete
the first drill holes at the Kadie Zone, which appears to
demonstrate excellent exploration potential. We are eager to build
upon our current knowledge at Kossou with approximately 4,000 to
5,000 meters of diamond drilling allocated to the project in Q2
2024 and we will continue an extensive surface exploration program
underway that includes trenching, prospecting, mapping, and soil
sampling.”
Launch of Interactive 3D Corporate Investor
Presentation
The Company is pleased to announce the launch of an interactive
3D corporate presentation, which will provide all stakeholders with
a deeper understanding of the Kobo story through a more immersive
experience. Powered by VRFY, this presentation offers investors a
unique and engaging way to delve deeper into Kobo's compelling
investment thesis through interactive slides, gaining a
comprehensive overview of the company's investment proposition. The
Company invites investors to explore its updated investor
presentation by clicking the link provided here.
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). All QAQC control samples returned values within acceptable
limits. All trenches are sub-horizontal and reported intercepts are
not expressed as true width. Previously reported RC drill
intercepts are reported as downhole lengths as insufficient work
has been completed to determine true width of mineralisation.
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. 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 completed ~6,000 m of RC drilling and ~5,400 m
of trenching in 2023 and is planning on additional diamond drilling
and trenching in 2024. Significant gold mineralisation has been
identified at three main targets within a 300 m wide, 3+ km long,
pervasively altered structural corridor defining a potentially
large mesothermal gold system. 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.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240327131726/en/
For further information, please contact:
Edward Gosselin Chief Executive Officer and Director
1-418-609-3587 ir@kobores.com
X: @KoboResources | LinkedIn: Kobo Resources Inc.
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