Mali Projects

Mali Gold Exploration Overview

Oklo’s Malian gold projects comprise two key areas – West Mali and South Mali. Both groups of tenements are located over highly prospective greenstones of the Proterozoic Birimian units, and in the vicinity of multi-million ounce operations and advanced projects.

West Mali

  • Includes the Dandoko/Moussala and Socaf Projects
  • Located along the highly prospective and productive Senegal-Mali Shear Zone
  • World class gold province, with known deposits including the 12.5Moz Loulo operation and the 5.15Moz Fekola project amongst others

South Mali

  • Key project is Yanfolila, 25km east of Hummingbird’s 1.8Moz Yanfolila Project
  • Yanfolila includes the Solona gold discovery
  • Includes three other lower priority projects; Sirakourou, Solabougouda and Kolondieba.

Mali Background

  • Independence from France in 1960
  • Transitioned to a multi-party democracy in 1992
  • Population of 16.5 million
  • Established modern mining code
  • Favourable fiscal regime
  • No restrictions on foreign investment
  • No restriction on capital inflows or outflows
  • Government very supportive of mining
  • Excellent track record for facilitating mineral exploration and mine development
  • Africa’s third largest gold producer, with ~1.6Moz produced in 2014
  • Large and growing gold endowment, with 40Moz in West Mali alone
  • Major producers and developers include Randgold, IAMGold, Anglogold-Ashanti, B2B Gold
  • Gold makes up ~70% of the value of Mali’s total exports

Geology and Mineralisation

  • Large areas of the highly productive Paleo-Proterozoic Birimian belts
  • Target mineralisation is orogenic lode style
  • Mineralisation is commonly proximal to linear structures
  • Lateritic weathering is common, with this forming easily treated open-pittable oxide gold mineralisation

Dandoko

dandoko
  • Multiple targets adjacent to NNE structural trend largely untested by drilling
  • Diabarou – outstanding initial RC drilling results announced January 2016 (6 holes for 884 metres):
    • 29 metres at 10.42g/t gold from 109m to EOH including:
    • 11 metres at 23.23g/t gold from 127m; and
    • 3 metres at 79.57g/t gold from 133m.
  • Disse – significant gold-in-soil anomaly and artisanal workings. Aircore drilling returned 21m at 5.67g/t gold
  • Selingouma – large 6km long gold-in-soil trend. Recent drilling returned 18m at 1.75g/t gold
  • Aggressive RC and auger drilling programs to continue into 2016

Socaf

socaf
  • Interpreted northern extension of Senegal-Mali Shear Zone which hosts several multi-million ounce gold deposits to immediate south
  • Gold-in-soil anomalies extending over a strike length of 2km
  • Historical trenching and drilling (2007-08) returned significant gold mineralisation including:
    • 29m at 1.27g/t gold – trench 3
    • including 10m at 2.05g/t gold
    • 8m at 4.1g/t gold – hole N5-4
    • 8m at 3.5 g/t gold – hole N7-12
  • 94% of holes less than 40 metres depth
  • Two drilling programs completed in January 2016 comprising auger (248 holes for 1,141m) and RC (13 holes for 1,099m).
  • This work has identified the potential for multiple mineralised zones over an area of approximately 2.0km by 1.0km defined by a gold-in-soil anomaly
  • RC drilling results include:
    • 13m @ 2.58g/t gold from 9m in RCAR015-002
    • 11m @ 1.62g/t gold from 13m in RCAR015-001
  • Shallow auger drilling (average 6m depth) has delineated further areas of coherent bedrock gold anomalism that now requires follow up RC drilling

Yanfolila

south mali project area
  • Located in southern Mali, 45km north of Avnel’s Kalana gold deposit (2.1Moz at 4.5g/t) and 35km east of Hummingbird’s Komana gold deposit (1.8Moz at 2.8g/t)
  • First pass RC drilling at Solona Main prospect in 2012 returned significant gold mineralisation including:
    • 26.5m at 3.59g/t includes 18.0m at 5.15g/t
    • 26m at 7.17g/t
    • 10.9m at 3.79g/t within 52.4m at 1.30g/t
    • 10.0m at 2.96g/t within 23.0m at 1.74g/t
  • First pass aircore drilling at Solona North West in 2015 returned significant gold results including 6m at 5.29g/t gold
  • Aggressive drilling programs of RC and auger will test targets in 1st quarter 2016