Okapi Resources Limited Stock Market Press Releases and Company Profile
Highly Prospective Gold Tenement Granted
Highly Prospective Gold Tenement Granted

Perth, May 27, 2021 AEST (ABN Newswire) - Okapi Resources Limited (googlechartASX:OKR) (googlechart26O:FRA) is pleased to advise that tenement E63/2039 at Maggie Hays Hill has been granted. Tenement E63/2039 is located approximately 450km east of Perth, Western Australia and lies immediately adjacent to Okapi's Mount Day Project joint venture (Farm-in to earn 75%) from Lithium Australia NL (googlechartASX:LIT) in the Lake Johnston Greenstone Belt.

Based on a review of open file historical data Okapi applied for tenement E63/2039 to cover an interpreted structural target and coincident gold in soil anomaly. The tenement also contains the historical Maggie Hays Hill gold workings.

These workings comprise two lines of SE-trending historical gold pits and shafts, hosted in sheared amphibolites and minor felsic units. They are among the few historical gold workings in the belt and have therefore been a focus for the limited previous gold exploration programmes. The priority target zone sits adjacent to the historical workings but has not yet been adequately drill tested (Figure 2*).

Review of historical exploration in the area revealed a 10 km long zone of anomalous gold-insoil results with a peak value of 88 ppb Au. Nearby drilling intercepted a gold-bearing structure that returned gold values in several holes up to 2m @ 11.04 g/t Au (LJPC004, 26-28m). The tenor of gold mineralisation returned from the small historical programme is highly encouraging for Okapi's main structural target.

Okapi are planning for detailed geological mapping and an infill soil programme over the main target area to commence imminently. The upcoming fieldwork will be done with a view towards firming up drilling positions on the targets.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/4W3OJE92


About Okapi Resources Limited

Okapi Resources LtdOkapi Resources Limited (ASX:OKR) recently acquired a portfolio of advanced, high grade uranium assets located in the United States of America and in the Athabasca Basin, Canada.

Assets include a strategic position in one of the most prolific uranium districts in the USA - the Tallahassee Creek Uranium District in Colorado. The Tallahassee Uranium Project contains a JORC 2012 Mineral Resource estimate of 27.6 million pounds of U3O8 at a grade of 490ppm U3O8 with significant exploration upside. The greater Tallahassee Creek Uranium District hosts more than 100 million pounds of U3O8 with considerable opportunity to expand the existing resource base by acquiring additional complementary assets in the district.

The portfolio of assets also includes an option to acquire 100% of the high-grade Rattler Uranium Project in Utah, which includes the historical Rattlesnake open pit mine. The Rattler Uranium Project is located 85km from the White Mesa Uranium Mill, the only operating conventional uranium mill in the USA hence provides a near term, low-capital development opportunity.

In January 2022, Okapi acquired a portfolio of high-grade exploration assets in the world's premier uranium district, the Athabasca Basin. The Athabasca Basin is home to the world's largest and highest-grade uranium mines.

Okapi's clear strategy is to become a new leader in North American carbon-free nuclear energy by assembling a portfolio of high-quality uranium assets through accretive acquisitions and exploration.

abnnewswire.com 


Contact

Leonard Math
Executive Director and Company Secretary
Okapi Resources Ltd
T: 08 6117 9338
E: leonard.math@okapiresources.com



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