"The project continues to pass through gates…. great location, favourable structural setting, rocks that are known to host sizeable gold deposits in the district and anomolous soil results."
"The latest results further define the gold footprint at Mambasa and is allowing us to vector in on the primary gold source that local artisanals are exploiting."
"Given continued success the next stage at Mambasa is to refine the surface anomolies with some detailed mapping to bettter locate costeans and scout drilling."
"We have already commenced discussions with drilling service providers to begin to add some detail to what a drilling program at Mambasa would look like. It is also pleasing to have met our year one earn-in commitments at Mambasa, we are well on our way to earning our interest in the project."
Okapi Resources Limited (ASX:"OKR") ("Okapi", "Company") is pleased to announce that soil sampling results have been returned from the Stage 2 exploration program at the Mambasa Project, permits PE364 and PE480 located in the Democratic Republic of Congo ("DRC").
Background The Mambasa Gold Project is a brownfields project with several historical colonial gold workings and current artisanal gold activity covering over a 600-metre strike length and up to 25 metres in depth. The Mambasa Project consists of two granted licences, PE364 and PE480, located approximately 18km to the south of the town of Mambasa, in the Mambasa District of Ituri Province in the north-eastern DRC.
The Company executed the Mambasa Joint Venture Agreement with Kalubamba SARL and Medidoc FZE which granted the right to earn a 70% interest in the Mambasa Project and to act as the manager. The Mambasa Joint Venture Agreement provides for an exploration expenditure earn-in by the Company over an approximately 4-year period, with a minimum spend of US$150,000 on exploration work (Phase 1 Assessment) within 12 months of the ASX listing date and before it has the right to withdraw from the joint venture. As a result of the recent expenditure on the Stage 2 infill program, Okapi has exceeded its minimum expenditure requirements for the first 12 months as defined by the Joint Venture Agreement.
During the March Quarter 2018, the initial Stage 1 "assessment" exploration program at Mambasa was completed. A total of 997 soil samples were taken from the PE364 licence area on a 250m by 100m soil sample grid. These samples were submitted to the ALS Laboratory, Johannesburg (ISO 9001:2008) for multi-element analysis. The results achieved up to a maximum of 0.93 g/t gold and anomalous gold results displayed a +3,000 metre NW trend, which is considered very encouraging as it is a similar geometry shown by some of the more significant gold projects in the region, including Kibali and Geita (Figure 3). A similar NW fabric can be seen in satellite imagery and the lineation is currently interpreted as the same structural trend that hosts deposits in the Ngayu Greenstone Belt.
Results for the Stage 2 infill sampling program have been now received and reviewed. This program was designed around areas of interest defined by the Stage 1 program. This second round of sampling infilled previous lines at an approximate 125 metre line spacing and at 50 metre centres. Sample data is located in Table 1. All samples have been analysed by ALS Johannesburg (ISO-9001:2008) for multi-elements and gold results are shown in Figure 4. Five hundred samples were analysed returning gold results up to 0.31 g/t gold in soils. The recent results further highlight the regional northwest fabric and some more detail to the north-south trending structure seen in Stage 1 results. The confluence of these 2 orientations is of particular interest as it possibly defines a control on gold mineralisation in the district. This observation is supported by the fact that Mount Pede, an area of significant artisanal mining activity, is located at this juncture.
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