QUEBEC CITY, Québec--(BUSINESS WIRE)--Kobo Resources Inc. (“Kobo” or the “Company”) (TSX.V: KRI) is pleased to announce strong gold results from trenching at the Jagger Zone, which support the ongoing structural interpretation work as part of continued exploration efforts at the Company’s 100%-owned Kossou Gold Project (“Kossou”).
Edward Gosselin, CEO and Director of Kobo commented: “With the confirmation of the presence of cross-cutting sets of gold bearing quartz veins throughout the Jagger Zone trending WNW-ESE, and E-W within the core of the zone, our team is extremely pleased with these findings. This further validates our initial assessment of the potential of the Jagger Zone, as well as highlights the complexity of the potential system hosting gold mineralisation. Additional trenching is underway at the Jagger and Kadie Zones to further evaluate structural controls and the impact of these important mineralised vein sets.”
Strong Gold Results from Trenching at the Jagger Zone
-
KTR047:
- 1.01 g/t Au over 4 metres (“m”)
- 1.68 g/t Au over 13 m including 2.37 g/t Au over 7 m
- 2.67 g/t Au over 14 m including 3.38 g/t Au 10 m
Trench KTR047 was excavated to evaluate structural controls to gold mineralisation based on observations by the Company’s field staff and Dr. Tourigny during the recent structural evaluation efforts at Kossou. The presence of cross-cutting sets of gold bearing quartz veins throughout the Jagger Zone was evaluated. Abundant high-grade gold vein sets, with individual 1 m samples up to 14.30 g/t Au, trending WNW-ESE and E-W within the core of the Jagger Zone has been confirmed. Assay results indicate multiple zones of cross-cutting mineralised quartz vein sets along the N-S strike extent of the mineralised Jagger shear zone. The Jagger Zone is defined by a 100+ m wide, 1.4+ km long N-S oriented shear zone mineralised along the dominant foliation plane with N-S brecciated gold bearing gold veins. Gold mineralisation is enhanced by cross cutting veins sets as exposed in KTR047.
Previously reported results at the Kadie Zone show similar structural controls. At the Road Cut Zone, similar structural associations are also observed as indicated by strong results recently released (see press release dated November 1, 2023) that also tested the WNW-ESE and E-W cross-cutting veins.
Table 1: Trench KTR047 Results (Jagger Zone)
Trench ID |
From (m) |
To (m) |
Interval |
Au g/t |
Target |
|
KTR047 |
|
23.0 |
27.0 |
4.0 |
1.01 |
Jagger Zone |
|
|
127.0 |
140.0 |
13.0 |
2.37 |
|
|
Incl. |
127.0 |
134.0 |
7.0 |
2.37 |
|
|
158.0 |
172.0 |
14.0 |
2.67 |
||
All trenches are sub-horizontal and reported intercepts are not expressed as true widths |
||||||
Q3 2023 Filings and Auditor Change
The Company has filed its interim consolidated financial statements for the three and nine months ended September 30, 2023 and 2022 as well as its management's discussion and analysis for the three and nine months ended September 30, 2023. The Company further reports that following the resignation of BDO Canada LLP as its auditor, the Company has nominated MNP LLP as its successor.
Sampling, QAQC, and Analytical Procedures
All samples were analysed at the SGS facility in Yamoussoukro using a 50 g Fire Assay with an AA finish (FAA505 with prep code PRP87). All QAQC 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 Perseus Mining’s Yaouré Gold Mine, one of the region’s largest gold mines with established processing facilities.
The Company has delivered excellent gold results and identified multiple shear zones with gold mineralisation as part of its maiden drill program. Drilling and exploration work remain ongoing to unlock the potential size and scale of the Kossou Gold Project within a strike length of more than 9 km of highly prospective zones, including the Road Cut Zone, the Jagger Zone, and the Kadie Zone.
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.
