Drilling Update at Enmore Gold Project
Perth, June 29, 2021 AEST (ABN Newswire) - Okapi Resources Limited (
ASX:OKR) (26O:FRA) is pleased to provide an update on the drilling programme 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 1*).
Okapi is continuing to drill its Enmore Gold Project, despite wet conditions that has slowed progress. The wet conditions have caused accessibility and mobility difficulties.
A total of 6 holes totalling 767m have been drilled to date. Better weather condition is forecast in the next few days and drilling is likely to be completed within the next 2 weeks.
The RC drilling programme is designed to test the calibre of historic mineralisation drilled some twenty years ago, extend the higher grade zones and help determine the local trends and orientation of the gold mineralised zones.
At the Sunnyside East prospect, two further RC holes have been added and other holes extended deeper, based on encouraging intervals with sulphides (pyrite & arsenopyrite) seen in logging.
After completing the Sunnyside East holes, Okapi will proceed to drill test the gold prospects of Sunnyside West (some 400m along strike from Sunnyside East) and, conditions permitting, two kilometres west of the Sunnyside prospects at Bora.
Kaolin Halloysite Projects Update
Okapi and Bulk Mineral Holdings Pty Ltd ("Bulk Mineral") has agreed to extend the due diligence period to acquire the Kaolin Halloysite Projects until 31 July 2021.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/ET29A8MV
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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