Akobo Minerals intersects visible gold at 205 meters depth
OSLO, 13 January 2022: Akobo Minerals (Euronext Oslo – “AKOBO”) today announced that it has intersected visible gold at 205 meters hole depth as part of its extension drilling program at Segele.
In addition to the visible gold previously reported, this latest result indicates that the high-grade mineralisation continues 50m further down dip than reported on the 4th November 2021. This discovery underpins the company’s belief that the Segele project can sustain a significantly longer mine-life than envisaged in the Scoping Study (27th September 2021).
In addition to the visible gold observations, since the release of the Scoping Study, the company has encountered several intersections of potential host rocks which are demonstrably down-dip from the resource estimate. The combination of the host rocks and visible gold is in-line with the general plunge of the mineralisation as seen in the resource model.
The visible gold now seen in hole SEDD87 along with the previously reported intersections with visible gold in SEDD53 and SEDD55 (released 4th November 2021) extend the known gold mineralisation over 100m to the Northwards down-dip of the mineral resource estimate (6th April 2021).
For illustration purpose only;
The Company has further holes planned in the northern extension as it continues to test the down-plunge extensions
Jørgen Evjen, CEO, Akobo Minerals, stated: “
“The latest intersections are very exciting and confirm that the mineralized zone continues to expand and will have a significant impact on our resource estimate and mine-life in the future. With the latest visible gold we are quite certain the zone is still open at depth. The mineralized zone also displays a pinch and swell pattern at deeper levels which is an encouraging sign, even though we have to wait for the assay results to confirm the potential gold content.”
An updated resource estimate for Segele is expected to be released by end of Q1 in order to incorporate as much of the latest drill hole data as possible.
- ENDS –
About Akobo Minerals
Akobo Minerals is a Norway-based gold exploration company, with ongoing exploration and small-scale mining developments in the Gambela region and Dima district of southwest Ethiopia. Operations were established in 2009 by people with long experience from both the public mining sector in Ethiopia and the Norwegian oil service industry. Following mineral discoveries, the company is engaged in mining studies to advance the project to production, alongside exploration core drilling.
Akobo Minerals is transforming itself to support an increased pace of core drilling. At both its key targets - in Segele and Joru - the company has released exceptionally high-grade gold results in the Segele deposit, while core drilling and trenching at Joru have intersected both high-grade gold zones and large wide zones near the surface. The company has an excellent partnership with national authorities and places ESG at the heart of its activities – including a ground-breaking community program.
Akobo Minerals has a clear strategy aimed at building a portfolio of gold resources through high-impact exploration and mining, while adhering to a lean business operation. The company is headquartered in Oslo and is listed on the Euronext Growth Oslo Exchange under the ticker symbol, AKOBO.
For more information, contact:
Jørgen Evjen, CEO, Akobo Minerals
Mob: (+47) 92 80 40 14
Competent Person for Exploration Results
The Competent Person who has overall responsibility for the exploration results is Dr Matt Jackson BSc PhD MAusIMM. Dr Jackson is a Chartered Professional of the Australasian Institute of Mining and Metallurgy which is a Recognized Professional Organization (“RPO”) included in a list promulgated by the Australian Securities Exchange (“ASX”) from time to time. He is a full time employee of Akobo Minerals AB and has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Matt Jackson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
For complete disclosure of technical details, JORC Table 1 can be found at the company website, www.akobominerals.com
This release is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Japan, the United States or any other jurisdictions where it would be illegal. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Akobo Minerals does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this publication are not being, and may not be, distributed or sent into Australia, Canada, Japan or the United States.