Exploration Work commences at Holly Kaolin Project
Perth, May 20, 2021 AEST (ABN Newswire) - Okapi Resources Limited (
ASX:OKR) is pleased to advise that the Company has commenced exploration work at the Holly Kaolin Project as part of technical due diligence to acquire Bulk Mineral Holdings Pty Ltd ("Bulk Minerals") which holds the Holly Kaolin Project licenses in Western Australia and the White Knight Kaolin-Halloysite Project license applications as announced on 12th May 2021.
Highlights
- Okapi commences technical due diligence with site visit to Holly Kaolin Project
- 15 samples collected and delivered to the Nagrom lab in Perth for testing with results expected within three to four weeks
- Site visits at the Holly Kaolin Project confirmed widespread outcropping Kaolinite mineralisation from surface
- Drilling programs in 1995-1996 intersected 5-15m zones of bright white Kaolin
- Historical drill results include high brightness Kaolin intercepts > 85%
A site visit to the Holly Kaolin Project in Western Australia was conducted earlier this week with approximately 15 samples collected and delivered to the Nagrom lab in Perth for assaying.
The Holly Kaolin Project comprises two (2) granted exploration licence E70/5676 and E70/5690 which are located approximately 20km east on Broomehill - Kojonup Road, Western Australia, covering a total area of circa 184km2.
The samples will be tested for halloysite existence and further confirmation of the quality of kaolin. The Company expects the results to be available next month. Drilling results in 1995 included many high brightness kaolin intercepts (crude brightness values greater than 85%).
Based on historical drilling data, the average depth to the top of the mineralisation appears to be approximately 5m. Previous drilling in 1996 also identified a 11-metre thickness of white clay.
Okapi's Executive Director, Mr David Nour said: "We are excited with the prospect of the Holly Kaolin Project and this early exploration work will give an overview of the quality of the kaolin and halloysite existence. The test results will also enable the Company to plan a more systematic and comprehensive exploration program in advance prior to completing the acquisition. The Company looks forward to provide the results of this testing in the next few weeks."
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About Okapi Resources Limited
Okapi Resources Limited (ASX:OKR) recently acquired a portfolio of advanced, high grade uranium assets located in the United States of America and in the Athabasca Basin, Canada.
Assets include a strategic position in one of the most prolific uranium districts in the USA - the Tallahassee Creek Uranium District in Colorado. The Tallahassee Uranium Project contains a JORC 2012 Mineral Resource estimate of 27.6 million pounds of U3O8 at a grade of 490ppm U3O8 with significant exploration upside. The greater Tallahassee Creek Uranium District hosts more than 100 million pounds of U3O8 with considerable opportunity to expand the existing resource base by acquiring additional complementary assets in the district.
The portfolio of assets also includes an option to acquire 100% of the high-grade Rattler Uranium Project in Utah, which includes the historical Rattlesnake open pit mine. The Rattler Uranium Project is located 85km from the White Mesa Uranium Mill, the only operating conventional uranium mill in the USA hence provides a near term, low-capital development opportunity.
In January 2022, Okapi acquired a portfolio of high-grade exploration assets in the world's premier uranium district, the Athabasca Basin. The Athabasca Basin is home to the world's largest and highest-grade uranium mines.
Okapi's clear strategy is to become a new leader in North American carbon-free nuclear energy by assembling a portfolio of high-quality uranium assets through accretive acquisitions and exploration.
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