Kobo Resources Reports Significant Gold Intersections of 5.0 Metres at 4.30 g/t Au, including 1.0 Metre at 20.00 g/t Au and 2.0 Metres at 7.26 g/t Au at its Kossou Gold Project

July 18, 2024 (Source) — Kobo Resources Inc. (“Kobo” or the “Company“) (TSX.V: KRI) is pleased to report additional strong gold assay results from its inaugural diamond drill program at the Company’s 100%-owned Kossou Gold Project (“Kossou”) located in Côte d’Ivoire, West Africa.

Diamond Drill Hole Highlights:

• KDD0016: 2.0 metres (“m”) at 7.26 g/t Au from 75.0 m
• KDD0017: 5.0 m at 4.30 g/t Au from 178.0 m, including 1.0 m at 20.00 g/t Au from 178.0 m
• KDD0018: 11.0 m at 1.13 g/t Au from 54.0 m, including 3.0 m at 3.11 g/t Au from 62.0 m and 3.0 m at 1.93 g/t Au from 104.0 m, including 1.0 m at 5.10 g/t Au from 104.0 m

Edward Gosselin, CEO and Director of Kobo commented: “These latest assay results from our inaugural diamond drill program at the Kossou Gold Project are a strong testament to the potential of one of Kobo’s key targets, the Road Cut Zone. The strong gold intersections from three additional holes, including 5.0 m at 4.30 g/t Au (including 1.0 m at 20.00 g/t Au), 11.0 m at 1.13 g/t Au and 2.0 m at 7.26 g/t Au, confirm the presence and strength of the gold shear zone at the Road Cut Zone, especially at the southern end of the target. The deeper hits from drill hole KDD0017 have intersected a previously untested shear zone and highlight the depth and continuity of mineralized structures underlying the gold-in-soil geochemical anomaly at the Road Cut Zone.”

He continued: “These findings support our previous 2023 drill results and strengthen our confidence in the project’s overall potential, laying the groundwork for future diamond drilling initiatives. Our exploration efforts in Côte d’Ivoire continue to return strong gold assay results and we look forward to initiating a second round of diamond drill this year.”

Road Cut Zone Diamond Drill Results Overview

The Company has received results for three additional holes (see Figure 1) at the Road Cut Zone (“RCZ”). Diamond drill hole KDD0016 returned 2.0 m at 7.26 g/t Au and KDD0018 returned 11.0 m at 1.13 g/t Au, including 3.0 m at 3.11 g/t Au and 1.0 m at 5.10 g/t Au. KDD0016 and KDD0018 were designed to test the southern extent of the RCZ gold in soil geochemical anomaly and to follow up on results from the 2023 reverse circulation (“RC”) drilling program. Both diamond drill holes returned strong gold mineralisation associated with anticipated shear volcanics and confirmed the presence of the geochemical anomaly and were an improvement on the results in RC drill hole KRC023, which returned 4.0 m at 1.62 g/t Au (see press release dated August 14, 2023). These drill holes have extended known mineralisation to the south and the zone remains open along strike to the south.

KDD0017 tested the northern portion of the gold in soil geochemical anomaly at the RCZ, verifying previous results from RC drill holes KRC0040 (12.0 m at 1.49 g/t Au) and KRC0041 (10.0 m at 1.33 g/t Au) (see press release dated August 14, 2023). Key intercepts from KDD0017 compare favourably with previous RC drill results, with 5.0 m at 4.30 g/t Au being the deepest intersection to date in this area (approximately 130 m below surface). This hole appears to map a previously undefined shear zone at this depth that will require additional follow up drilling.

See Table 1 for detailed intercepts from the three RCZ diamond drill holes reported herein Assay results from the two remaining diamond drill holes at the RCZ, as well as the remaining diamond drill holes at the Jagger Zone (3) and Kadie Zone (2), are pending.

Table 1: Summary Drill Hole Results

An accurate dip and strike and controls of mineralisation are unconfirmed at this time and the true width of mineralisation are unconfirmed at this time. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances.

Sampling, QAQC, and Analytical Procedures

Drill core was logged and sampled by Kobo personnel at site. Drill cores were sawn in half, with one half remaining in the core box and the other half secured into new plastic sample bags with sample number tickets. Samples are transported to the SGS Côte d’Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. QA/QC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample every 20 samples. All QA/QC control samples returned values within acceptable limits.

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 Cote d’Ivoire, one of West Africa’s most prolific and developing gold districts, hosting several multi-million-ounce gold mines. 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 ~5,900 m of RC drilling and ~5,400 m of trenching in 2023 and has completed 4,368 m of diamond drilling to date in 2024. Significant gold mineralisation has been identified at three main targets within a 300 m wide, 2+ 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.

Contacts

Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
[email protected]