Completion of First Diamond Drill Program with 25 Holes (4,368 m) to Set the Stage for Next Phase of Exploration
July 11, 2024 (Source) — Kobo Resources Inc. (“Kobo” or the “Company“) (TSX.V: KRI) is pleased to report further significant gold results from its inaugural diamond drill program at the Company’s 100%-owned Kossou Gold Project (“Kossou”) located in Côte d’Ivoire, West Africa. The Company is also pleased to announce the completion of its first diamond drilling program at Kossou, which comprised of 4,367.6 metres (“m”) of diamond drilling in 25 holes, targeting the Company’s three highly prospective gold targets: the Road Cut Zone (“RCZ”), the Jagger Zone and the Kadie Zone.
Diamond Drill Hole Highlights:
- KDD002: 15.1 m at 1.03 g/t Au from 62.3 m, including 6.3 m at 1.67 g/t Au from 64.8 m
- KDD005: 9.0 m at 23.89 g/t Au from 40.0 m, including 1.0 m at 210.00 g/t from 46.0 m
- KDD012: 11 m at 1.71 g/t Au from 50.0 m
- KDD014: 9.0 m at 4.27 g/t Au from 117.0 m
Edward Gosselin, CEO and Director of Kobo commented: “Further results from our inaugural diamond drill program at the Kossou Project have delivered promising gold values, with 25 drill holes covering close to 4,400 m meeting our expectations for this phase of exploration. Each drill hole has intersected gold-bearing shear zones, consistent with our successful RC drilling in 2023 and further supporting last year’s geological interpretation study.”
He continued: “The preliminary assay results across all three zones are highly encouraging, confirming robust gold intercepts with notable high-grade sections as anticipated. This consistency reinforces the reliability of our geological models and strengthens our confidence in Kossou’s prospects. Our upcoming drilling phase, expected in Q3, will focus on expanding our knowledge of the Jagger, Road Cut and Kadie Zone targets. Detailed plans will be finalized following further assay analysis of the Company’s diamond drill program. Additionally, Dr. Ghislain Tourigny’s upcoming structural study will provide critical insights into Kossou’s gold-bearing structures to further our understanding of the mineralized zones.”
He continued: “Looking ahead, our 2024 drilling program aims to drill between 10,000 and 12,000 m by year-end, aiming to unlock the substantial potential of the Kossou Gold Project. With the recent completion of our private placement raising gross proceeds of $7.4 million, we are now well-funded and strategically positioned to accelerate our exploration efforts with the support of key partners and shareholders.”
Kadie Zone
The Company has drilled the first five diamond drill holes at the Kadie Zone and have received results for the initial three holes (see Figure 1). Drill hole KDD0005 (Kadie 3) returned a very strong mineralised zone of 9.0 m at 23.89 g/t Au, including a 1.0 m zone assaying 210.00 g/t Au. This zone clearly exhibits the bonanza style mineralisation associated with the NW trending shear zones and the cross-cutting V2 veins sets (See Table 1 for detailed intercepts). Assay results from the two remaining diamond drill holes at the Kadie Zone are pending. Total metres drilled at the Kadie Zone were 828.6 m in five holes.
Road Cut Zone
The Company completed 15 drill holes totalling 2,320.2 m during its inaugural diamond drill program and has received results for ten of the drill holes to date: KDD0006 to KDD0015 (see Figure 2).
Overall results from the first diamond drill holes are very encouraging with every drill hole intersecting multiple gold bearing shear zones that correlate well with surface information. DDH0012 returned 11.0 m at 1.71 g/t Au from 50.0 m and has confirmed the down dip extension of approximately 25 m to mineralisation reported in a series of trenches on the eastern edge of the RCZ, highlighted by 28.0 m at 4.44 g/t Au and 6.0 m at 2.50 g/t Au (see press released date December 5, 2023). DDH0013 undercut DDH0012 on the same section and intersected gold mineralisation of 2.0 m at 2.13 g/t Au, approximately 90 m downdip from surface showings. Drill holes to the north and south of this intercept are pending.
Drill hole KDD0014 and KDD0015 both tested the core of the main gold in soil geochemical anomaly at the RCZ and intercepted multiple gold bearing shear zones. Key results for KDD0014 included 7.0 m at 1.04 g/t Au from 13.0 m and 9.0 m at 4.27 g/t Au from 117.0 m (see Photo 1). KDD0015 returned 6.0 m at 2.48 g/t Au, including a subinterval of 1.0 m at 11.60 g/t Au. Results for the final five diamond drill holes are pending and significant results received to date can be found in Table 1.
Jagger Zone
In addition to the first diamond drill hole, which returned 38.2 m at 1.55 g/t Au (see press release April 30, 2024), the Company has received results from the second diamond drill hole from the Jagger Zone, with three other holes currently pending results (see Figure 3). DDH0002 returned a primary intercept of 15.1 m at 1.03 g/t Au from 62.3 m, including 6.3 m at 1.67 g/t Au. Results from both holes compare favourably with the Company’s reverse circulation drilling completed in 2023 and continue to demonstrate the Jagger Shear Zone hosts significant gold mineralisation over broad widths. Additional zones of mineralisation were intersected throughout most of DDH0002, including 5 m at 1.16 g/t Au from 92.0 m and 8 m at 0.82 g/t Au from 155.0 m, supporting the interpretation of gold mineralisation associated with multiple shear zones in this complex structure. Total metres drilled at the Jagger Zone were 1,718.75 m in five holes and full results of significant drill intercepts are shown in Table 1.
Table 1: Summary Drill Hole Results
| BHID | East | North | Elev. | Az. | Dip | Depth | From (m) | To (m) | Int. (m) | Au g/t | Target | |
| KDD0002 | 228973 | 775332 | 339 | 70 | -50 | 242.50 | 53.0 | 55.0 | 2.0 | 1.09 | Jagger | |
| 62.3 | 77.4 | 15.1 | 1.03 | Jagger | ||||||||
| Incl. | 64.8 | 71.1 | 6.3 | 1.67 | Jagger | |||||||
| Incl. | 74.3 | 77.4 | 3.1 | 1.29 | Jagger | |||||||
| 92.0 | 97.0 | 5.0 | 1.16 | Jagger | ||||||||
| Incl. | 94.0 | 95.0 | 1.0 | 4.70 | Jagger | |||||||
| 122.0 | 126.0 | 4.0 | 0.57 | Jagger | ||||||||
| 155.0 | 163.0 | 8.0 | 0.82 | Jagger | ||||||||
| Incl. | 155.0 | 156.0 | 1.0 | 4.04 | Jagger | |||||||
| 162.0 | 163.0 | 1.0 | 1.70 | Jagger | ||||||||
| 170.0 | 171.0 | 1.0 | 1.95 | Jagger | ||||||||
| KDD0003 | 228813 | 775274 | 368 | 70 | -50 | 134.45 | 46.0 | 48.0 | 2.0 | 0.66 | Kadie 1 | |
| 89.0 | 90.3 | 1.3 | 0.60 | Kadie 1 | ||||||||
| KDD0004 | 228641 | 775451 | 314 | 70 | -50 | 152.45 | 8.0 | 11.0 | 3.0 | 0.42 | Kadie 2 | |
| 41.0 | 44.0 | 3.0 | 0.30 | Kadie 2 | ||||||||
| 99.0 | 101.0 | 2.0 | 1.65 | Kadie 2 | ||||||||
| KDD0005 | 228428 | 775426 | 338 | 70 | -50 | 179.45 | 40.0 | 49.0 | 9.0 | 23.89 | Kadie 3 | |
| Incl. | 46.0 | 47.0 | 1.0 | 210.00 | Kadie 3 | |||||||
| 95.0 | 97.0 | 2.0 | 2.33 | Kadie 3 | ||||||||
| 110.0 | 114.0 | 4.0 | 0.68 | Kadie 3 | ||||||||
| Incl. | 110.0 | 111.0 | 1.0 | 1.90 | Kadie 3 | |||||||
| KDD0006 | 228511 | 776015 | 275 | 70 | -50 | 149.95 | 41.0 | 43.0 | 2.0 | 1.18 | RCZ | |
| 102.0 | 103.0 | 1.0 | 0.94 | RCZ | ||||||||
| 110.0 | 112.0 | 2.0 | 0.66 | RCZ | ||||||||
| 124.0 | 125.0 | 1.0 | 0.90 | RCZ | ||||||||
| KDD0007 | 228391 | 776078 | 288 | 70 | -50 | 89.45 | 14.0 | 15.0 | 1.0 | 0.74 | RCZ | |
| 25.0 | 26.0 | 1.0 | 0.90 | RCZ | ||||||||
| 45.0 | 51.0 | 6.0 | 0.46 | RCZ | ||||||||
| Incl. | 45.0 | 46.0 | 1.0 | 1.22 | RCZ | |||||||
| 61.0 | 64.0 | 3.0 | 0.36 | RCZ | ||||||||
| 72.0 | 77.0 | 5.0 | 0.89 | RCZ | ||||||||
| Incl. | 72.0 | 73.0 | 1.0 | 1.83 | RCZ | |||||||
| Incl. | 76.0 | 77.0 | 1.0 | 2.12 | RCZ | |||||||
| KDD0008 | 228394 | 776132 | 294 | 70 | -50 | 104.45 | 25.0 | 27.0 | 2.0 | 1.22 | RCZ | |
| 41.0 | 43.0 | 2.0 | 3.03 | RCZ | ||||||||
| 74.0 | 77.0 | 3.0 | 1.23 | RCZ | ||||||||
| 99.0 | 100.0 | 1.0 | 1.19 | RCZ | ||||||||
| KDD0009 | 228333 | 776376 | 277 | 70 | -50 | 188.45 | 21.0 | 26.0 | 5.0 | 0.47 | RCZ | |
| 35.0 | 37.0 | 2.0 | 0.39 | RCZ | ||||||||
| 57.0 | 60.0 | 3.0 | 0.46 | RCZ | ||||||||
| 93.0 | 96.0 | 3.0 | 1.22 | RCZ | ||||||||
| 103.0 | 108.0 | 5.0 | 0.49 | RCZ | ||||||||
| KDD0010 | 228309 | 776421 | 277 | 70 | -50 | 194.45 | 14.0 | 15.0 | 1.0 | 1.40 | RCZ | |
| 38.0 | 41.0 | 3.0 | 0.87 | RCZ | ||||||||
| 46.0 | 49.0 | 3.0 | 0.34 | RCZ | ||||||||
| 69.0 | 73.0 | 4.0 | 0.77 | RCZ | ||||||||
| 103.0 | 104.0 | 1.0 | 1.20 | RCZ | ||||||||
| 165.0 | 169.0 | 4.0 | 0.47 | RCZ | ||||||||
| KDD0011 | 228531 | 775969 | 288 | 70 | -50 | 131.45 | 45.0 | 46.0 | 1.0 | 1.30 | RCZ | |
| 70.0 | 71.0 | 1.0 | 1.08 | RCZ | ||||||||
| KDD0012 | 228535 | 776289 | 219 | 70 | -50 | 116.45 | 50.0 | 61.0 | 11.0 | 1.71 | RCZ | |
| 69.0 | 72.0 | 3.0 | 0.67 | RCZ | ||||||||
| KDD0013 | 228435 | 776254 | 266 | 70 | -50 | 230.45 | 45.0 | 46.0 | 1.0 | 1.57 | RCZ | |
| 186.0 | 188.0 | 2.0 | 0.68 | RCZ | ||||||||
| 193.0 | 195.0 | 2.0 | 2.13 | RCZ | ||||||||
| KDD0014 | 228450 | 776152 | 269 | 70 | -50 | 242.45 | 13.0 | 20.0 | 7.0 | 1.04 | RCZ | |
| Incl. | 13.0 | 17.0 | 4.0 | 1.63 | RCZ | |||||||
| 33.0 | 34.0 | 1.0 | 1.94 | RCZ | ||||||||
| 46.0 | 47.0 | 1.0 | 1.44 | RCZ | ||||||||
| 65.0 | 66.0 | 1.0 | 1.12 | RCZ | ||||||||
| 71.0 | 73.0 | 2.0 | 1.64 | RCZ | ||||||||
| 85.0 | 90.0 | 5.0 | 0.50 | RCZ | ||||||||
| 117.0 | 126.0 | 9.0 | 4.27 | RCZ | ||||||||
| 187.0 | 188.0 | 1.0 | 2.40 | RCZ | ||||||||
| KDD0015 | 228367 | 776335 | 283 | 70 | -50 | 191.45 | 5.0 | 7.0 | 2.0 | 0.64 | RCZ | |
| 12.0 | 14.0 | 2.0 | 1.80 | RCZ | ||||||||
| 21.0 | 27.0 | 6.0 | 2.48 | RCZ | ||||||||
| Incl. | 26.0 | 27.0 | 1.0 | 11.60 | RCZ | |||||||
| 48.0 | 49.0 | 1.0 | 1.29 | RCZ | ||||||||
| 95.0 | 98.0 | 3.0 | 0.66 | RCZ | ||||||||
| Notes: | ||||||||||||
| Cut off using 2 m at 0.30 g/t Au | ||||||||||||
| Intervals are reported with no more than 3m of continuous internal dilution except where indicated * | ||||||||||||
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.
Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.
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
For further information, please contact:
Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
[email protected]
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