Kobo Resources Commences 2024 Diamond Drill Program at its 100%-Owned Kossou Gold Project
Kobo Resources Commences 2024 Diamond Drill Program
at its 100%-Owned Kossou Gold Project
QUEBEC CITY--(BUSINESS WIRE)--March 27, 2024--Kobo Resources Inc. ("Kobo” or the
"Company") (TSX.V: KRI) is pleased to announce the commencement of approximately 4,000 to 5,000
metres (“m”) of diamond drilling as part of the first phase of the Company’s 2024 exploration program
at its 100%-owned Kossou Gold Project (“Kossou”) located in Côte d'Ivoire, West Africa.
The Company’s 2024 drill program is designed to follow up on results from its inaugural 2023
exploration program which identified multiple shear zones of gold mineralisation in three key targets with
a combined strike length of over four kilometres. The Company’s 2023 exploration program consisted of
5,887 m (53 holes) of reverse circulation (“RC”) drilling and approximately 5,400 m (93 trenches) of
trenching, which outlined significant gold mineralisation at the Jagger Zone, Road Cut Zone and Kadie
Zone.
The Company has initiated its first phase of diamond drilling to gain further understanding of the detailed
structural controls to gold mineralisation at Kossou as well as the association between the strong, through
going N-S shear zones and the intersection of those structures with high-grade WNW-ESE and E-W
quartz veins (“V2” veins) as documented by Dr. Ghislain Tourigny in the detailed structural report
provided to the Company in October 2023 (see press released dated November 1, 2023). The Company’s
structural report outlined a significant 300- to +400-meter-wide deformation and alteration zone mapped
over a 3+ km strike extent south from the Road Cut Zone, situated in the hanging wall of a crustal scale
first order fault identified as the Contact Zone Fault. The study also indicates the system contains two
styles of gold mineralisation including: 1) a replacement style composed of disseminated sulphides and
carbonates in highly silicified basalts and 2) late quartz-carbonate veins that obliquely crosscut the
silicified mineralisation and shear zones. Significant gold mineralisation occurs within both styles of
mineralisation and further geological work indicates this structural corridor extends south through the
Jagger Zone, over 3.5 kilometers, suggesting the presence of a significant mesothermal gold system at
Kossou. The Road Cut Zone, Jagger Zone and Kadie Zone are believed to host similar structure and
mineralising controls.
2024 Drill Program Overview – First Phase:
Jagger Zone: The Company is planning for approximately 1,200 m of drilling (5-6 holes) at the
Jagger Zone, which represents the largest and strongest soil geochemical anomaly yet discovered
at Kossou. The goal of the initial phase of diamond drilling at the Jagger Zone is to further
confirm the structural interpretation of the zone. In 2023, the Company completed a total of 25
RC drill holes for 3,164 m and has recorded broad zones of gold mineralisation within a N-S
major shear structure with high-grade sections associated with a cross-cutting V2 vein system
over a total strike extent of 1,400 m. Significant gold mineralisation was intersected in each hole
drilled during the Company’s 2023 drill program, including key drill intercepts:
o KRC002: 20 m at 1.87 g/t Au, incl. 3 m at 6.28 g/t Au
o KRC011: 19 m at 2.03 g/t Au, incl. 6 m at 4.00 g/t Au
o KRC009: 48 m @ 1.03 g/t Au, incl. 15 m at 1.70 g/t Au
Road Cut Zone: The Company is planning for approximately 2,400 m (15-16 holes) of drilling
at the Road Cut Zone with a goal delineating the 500 m gap identified between KRC044 and
KRC051 (see press release dated January 15, 2024), which is underlain by a strong gold soil
geochemical anomaly and further defining the structural interpretation of the zone. The Company
completed 1,699 m of RC drilling in 13 holes in 2023 and has defined broad zones of gold
mineralisation with high-grade sections hosted within sheared and silicified volcanic units over a
strike length of 850 m. Key drill intercepts from the 2023 RC drill program on the Road Cut Zone
include:
o KRC044: 13 m at 2.10 g/t Au, incl. 2 m at 10.41 g/t Au
o KRC022: 9 m at 3.18 g/t Au, incl. 2 m at 8.38 g/t Au
Kadie Zone: The Company plans to drill approximately 1,400 metres (8-10 holes) at the Kadie
Zone, an exciting and undrilled geochemical anomaly. Previously completed infill soil sampling
identified three strong S-E trending geochemical anomalies totaling a 1+ km strike length located
just west of the main Jagger Zone with structural and lithological characteristics similar to those
found at the prospective Jagger gold bearing shear zone. Significant trench results previously
reported include:
o KTR036: 22 m at 2.73 g/t Au, incl. 4 m at 12.92 g/t Au
o KTR063: 13 m at 2.80 g/t Au, incl. 1 m at 31.30 g/t Au
o KTR065: 7 m at 4.78 g/t Au, incl. 1 m at 21.70 g/t Au
Diamond drill holes at all targets will be oriented approximately 070o to better intersect the N-S
shear zones and the high-grade V2 vein sets, which is now understood to contain significant gold
within the system as identified from surface trenching and detailed mapping
Additional trenching, geological mapping and soil geochemistry will be completed throughout the
Company’s 2024 drill program
Edward Gosselin, CEO and Director of Kobo commented: “Due to the great success of our first drill
program completed in Q3 2023, we have been very keen to commence the second pass of drilling at
Kossou. In the initial drilling program undertaken in 2023, significant amounts of gold mineralization
were intersected in almost all holes, which is virtually unprecedented. After making significant
discoveries at our three key and highly prospective targets: the Jagger Zone, Road Cut Zone, and Kadie
Zone, we look forward to completing our second drilling program at Kossou.”
He continued: “Our objective is to rapidly advance these key targets by testing our growing
understanding of the structure and controls to gold mineralisation at our key targets. We are excited to
drill a significant portion of the soil geochemical anomaly at the Road Cut Zone that was previously
inaccessible and to complete the first drill holes at the Kadie Zone, which appears to demonstrate
excellent exploration potential. We are eager to build upon our current knowledge at Kossou with
approximately 4,000 to 5,000 meters of diamond drilling allocated to the project in Q2 2024 and we will
continue an extensive surface exploration program underway that includes trenching, prospecting,
mapping, and soil sampling.”
Launch of Interactive 3D Corporate Investor Presentation
The Company is pleased to announce the launch of an interactive 3D corporate presentation, which will
provide all stakeholders with a deeper understanding of the Kobo story through a more immersive
experience. Powered by VRFY, this presentation offers investors a unique and engaging way to delve
deeper into Kobo's compelling investment thesis through interactive slides, gaining a comprehensive
overview of the company's investment proposition. The Company invites investors to explore its updated
investor presentation by clicking the link provided here.
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. All trenches are sub-horizontal and reported intercepts are not expressed as true width. Previously
reported RC drill intercepts are reported as downhole lengths as insufficient work has been completed to
determine true width of mineralisation.
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
Côte d’Ivoire, one of West Africa’s most prolific and developing gold districts. 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 ~6,000 m of RC drilling and ~5,400 m of trenching in 2023 and is planning on
additional diamond drilling and trenching in 2024. Significant gold mineralisation has been identified at
three main targets within a 300 m wide, 3+ 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.
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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”,
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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
X: @KoboResources | LinkedIn: Kobo Resources Inc.