Drilling Commences at Enmore Gold Project
Perth, June 7, 2021 AEST (ABN Newswire) - Okapi Resources Limited (
ASX:OKR) (26O.F) is pleased to advise it has commenced drilling at the Enmore Gold Project in north eastern NSW. The initial drill programme consists of 8 - 10 holes for a minimum of 1,000m of reverse circulation ('RC') drilling to evaluate the two priority targets identified at the Sunnyside and Bora Prospects (Figure 2*).
The majority of the initial holes are being drilled at the Sunnyside Prospect, with two holes planned for the Bora Prospect. One of the primary aims of the first pass drilling is to test the depth extent of shallow mineralisation reported from historic drilling at the two priority prospects. Despite extensive historic drilling at Enmore, there is limited deeper drilling with high gold grades associated with quartz veins and breccias previously returned in several deeper holes. The drilling programme will follow up on some of the historic high grade drill intercepts at the Sunnyside Prospect, including:
- 22m @ 2.66g/t gold from surface,
o including 4m @ 11.94 g/t gold from surface (hole - SP3B),
- 20m @ 1.7 g/t gold from 18m,
o including 4m @ 4.4 g/t Au from 21m (SP24E),
- 2m @ 14.6 g/t gold from 46m (hole SP13E).
Of the approximately 140 historic holes drilled at the Sunnyside Prospect, only 16 wide-spaced holes were drilled below the oxide mineralisation. These holes did not adequately explain the distribution of the shallow oxide gold. The structural preparation, potential for dilation and abundance of supergene gold provide a high-quality target for further drilling advancement.
Drilling is likely to be completed within 2 weeks with assays expected in the following weeks.
Okapi's Executive Director, Mr David Nour said, "Within six months of acquiring Enmore, we are already on the ground drilling with approvals in place. This first drill programme is expected to show the potential of the project, given historical deeper drilling was wide-spaced and has not adequately accounted for the expected limited strike extent of high-grade shoots or their oblique orientation to the host lode structure. We look forward to the results and will advise shareholders as soon as they become available."
Okapi's initial drill programme aims to achieve several goals:
- Test volumes below shallow gold mineralisation (= 30m) intersected by historic shallow percussion drilling (20-30m) and the mineralisation intersected in deeper historic drill holes (120-160m).
- Planned drilling at Sunnyside aims to test extensions to anomalous gold mineralisation intersected at the end of historic drill holes (at Sunnyside East GR-SS1 ended at 151m in 0.26 g/t, and SS9 ended at 126m in 0.65 g/t Au; and at Sunnyside West, SS6 ended at 102m in 0.24 g/t Au).
- Drill untested structures at high angles (oblique and orthogonal) to the known trend of mineralisation.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/LE22U923
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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