21:44:56 EST Sun 10 Dec 2023
Enter Symbol
or Name

Kobo Resources Inc
Symbol KRI
Shares Issued 81,178,383
Close 2023-09-28 C$ 0.305
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Kobo Resources trenches 11 m of 5.16 g/t Au at Kossou

2023-09-28 10:05 ET - News Release

Mr. Edward Gosselin reports


Kobo Resources Inc. has intersected high-grade gold mineralization in initial trenching at the Kadie zone and additional broad intersections at Jagger zone as part of the continuing exploration program at its 100-per-cent-owned Kossou gold project, located in Ivory Coast, West Africa.


  • KTR036 -- 5.16 grams per tonne gold over 11 metres, including 12.92 grams per tonne gold over four metres (Kadie zone);
  • KTR043 -- 1.83 grams per tonne gold over 68 metres, including 8.20 grams per tonne gold over nine metres and 42.75 grams per tonne gold over two metres (Jagger zone);
  • This past month, Kobo's structural geology expert, Dr. Ghislain Tourigny, PhD, has been completing detailed structural mapping across of Kossou, including the Jagger, Road Cut and Kadie zones;
  • As an expert in the geology of the district, Dr. Tourigny continues to provide critical structural insight as he works with the company's team to further define the structural setting and controls on gold mineralization of key targets at Kossou;
  • Carmelo Marelli appointed as chief financial officer following the retirement of Gilles Couture.

Edward Gosselin, chief executive officer and director of Kobo, commented: "The positive results at the Jagger zone and new discoveries at the Kadie zone are very exciting and confirm our interpretation that the property contains a large mineralized system. Our exploration team continues to follow a well-defined exploration strategy at Kossou: identify strong gold anomalies in soil, conduct trenching work to better understand the geology of the target and conclude with drilling activities." He continued: "According to our early drill results, our targeting of soil geochemical anomalies has been highly effective and the Kadie zone is likely to become a significant new drill target in the future. As additional mineralized trenches are exposed across the property, we are gaining a better understanding of the structural controls of high-grade mineralization. We plan to commence an initial diamond drill program at the Kadie zone and additional drilling at the Jagger and Road Cut zones as soon as possible."

He concluded: "On behalf of the entire Kobo team, I would like to thank Gilles for his many years of outstanding service to the company. Gilles has been with Kobo since its inception in 2016 and has been instrumental in helping it navigate through a number of financings and its most recent RTO [reverse takeover] process. We wish him well in his well-deserved retirement, and we thank him for his valuable contributions. On behalf of the board, I wish to welcome Carmelo to the Kobo team."

Kadie zone

The Kadie zone was identified through initial soil geochemistry efforts and was the subject of more recent detailed soil geochemistry as part of the company's continuing exploration efforts at Kossou (see press release dated Aug. 14, 2023). Based on the initial encouraging results, the company completed six trenches across three soil anomalies and early trench sampling results have yielded excellent gold results. The results from the first two trenches have identified high-grade gold mineralization in a set of quartz veins oriented northwest-southeast. Trench KTR036 intersected two broad zones of mineralization averaging 1.27 grams per tonne gold over 11 metres and a second higher-grade zone of 11 metres averaging 5.16 grams per tonne gold (see attached table for details).

The combined strike length of the soil anomalies associated with the Kadie zone is approximately 750 metres, making it a significant drill target for future exploration and development. Rock samples from the remaining four trenches at the Kadie zone are currently in laboratory and will be available shortly.

Jagger zone

Following the high-grade gold mineralization reported in trench KTR028 (6.42 grams per tonne gold over 29 metres) and in recent reverse circulation (RC) drill holes, trenches KTR042 and KTR043 were excavated 25 metres to the north and south to better understand the structural controls to the high-grade zones (see attached table for details).

Trench KTR042 returned 1.74 grams per tonne gold over 21 metres, including 2.20 grams per tonne gold over 16 metres and 3.91 grams per tonne gold over seven metres. As recorded previously, a second zone within the trench returned 0.72 gram per tonne gold over 26 metres.

Trench KTR043 located 50 metres south of KTR042 intersected the same shear zone and featured 1.83 grams per tonne gold over 68 metres, including a high-grade zone returning 6.81 grams per tonne gold over 11 metres.

Preliminary work has confirmed significant gold concentrations in three principal vein orientations: in veins parallel to the north-south-trending and steeply west-dipping regional shear zone; in subvertical east-west extension veins (quartz/carbonate/pyrite); and in west-northwest to northwest extension veins that have similar mineralogy and structural/textural features as the east-west veins.

The array of veins observed in Jagger and Kadie zones are similar to the high-grade S-type vein mineralized zones occurring at Perseus Mining's Yaoure gold mine.

As part of the more detailed structural interpretation, Dr. Tourigny has mapped trench KTR030 in more detail and has resampled the shear zone (KTR030a). The latest assay results returned significant high-grade gold intercept of 5.07 grams per tonne gold over 19 metres, including 42.75 grams per tonne gold over two metres. Gold mineralization is hosted in a 20-metre-wide, north-south-trending and steeply west-dipping ductile-brittle shear. The high-grade intersection including 71.70 grams per tonne gold over one metre is associated with a tectonic breccia representing dislocated discordant veins.

Other zones of mineralization in KTR030a are associated with millimetre-wide to centimetre-wide quartz-carbonate-pyrite shear veins oriented north-south and dip steeply parallel to the foliation of the shear zone. Subvertical veins oriented east-west also occur in the trench exposure.

The total strike length of the Jagger zone, including untested geochemical anomalies, now stands at 1.85 kilometres and remains the primary target of the company's continuing 2023 drill program.

Trench work remains continuing with seven additional trenches completed, with rock samples current being assayed and results expected soon.

Appointment of chief financial officer

Following the retirement of Gilles Couture, the company has appointed Carmelo Marelli as chief financial officer of the company.

Mr. Marrelli is the principal of the Marrelli Group, comprising of Marrelli Support Services Inc., DSA Corporate Services Inc., DSA Filing Services Ltd., Marrelli Press Release Services Ltd., Marrelli Escrow Services Inc. and Marrelli Trust Company Ltd. The Marrelli Group has delivered accounting, corporate secretarial and regulatory compliance services to listed companies on various exchanges for over 20 years. Mr. Marrelli is a chartered professional accountant (CPA/CA/CGA) and a member of the Institute of Chartered Secretaries and Administrators, a professional body that certifies corporate secretaries. He received a bachelor of commerce from the University of Toronto. Mr. Marrelli acts as the chief financial officer to several issuers on the Toronto Stock Exchange, TSX Venture Exchange and Canadian Securities Exchange as well as non-listed companies and as a director of select issuers.

Sampling, quality assurance/quality control and analytical procedures

All samples were analyzed at the SGS facility in Yamoussoukro using a 50-gram fire assay with an AA finish (FAA505 with prep code PRP87). Samples assaying greater that 5.0 grams per tonne gold were resubmitted for fire assay with gravimetric finish (FAG505). Those values were considered final. 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, PGeo, 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 Ivory Coast, one of West Africa's most prolific and developing gold districts, hosting several multimillion-ounce gold mines. The company's 100-per-cent-owned Kossou gold project is located approximately 20 kilometres northwest of the capital city of Yamoussoukro and is directly adjacent to Perseus Mining's Yaoure 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 mineralization as part of its maiden drill program. Drilling and exploration work remain continuing to unlock the potential size and scale of the Kossou gold project within a strike length of more than nine kilometres 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-V under the symbol KRI.

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