Brings Landholding In Mali To 752sq km
Marvel Gold Limited (ASX: MVL) has executed a shareholders’ agreement with Oklo Resources Limited to acquire an 80% interest in three South Mali gold projects – Tabakorole, Yanfolila and Kolondieba, known collectively as the South Mali Gold Projects.
The projects cover 600 sq. km of highly prospective Birimian Greenstone terrain in South Mali. The acquisition of the South Mali Gold Projects will bring the company’s landholding in Mali to 752 sq. km2
“We believe that growing the already substantial Tabakorole resource is the most efficient means of adding value for our shareholders,” Managing Director Phil Hoskins said.
“We recently commenced a 6,300m drill programme aimed at expanding the 910,000oz resource along strike in both directions.
“Completion of this strategic transaction will allow us to accelerate the geophysics and soils programmes that are expected to generate new targets outside of the immediate resource area on the contiguous licences.
Both Oklo and Marvel have agreed the initial work programs for the South Mali Gold Projects, with multi- element soil geochemistry and high-resolution ground magnetics under way at each project.
The immediate priority for these programmes will be regionally at Tabakorole, in particular the Sirakourou tenement, given its potential to host the strike extension of gold mineralisation at Tabakorole. The maiden JORC resource at Tabakorole of 910,000oz grading 1.2 g/t gold was announced on 30 September 2020.
Once all projects have equivalent baseline datasets, drill targets can then be ranked according to their potential to add shareholder value.