Re-affirms Mali Gold Exploration Commitment
Marvel Gold Limited(ASX: MVL) has signed a binding term sheet with Oklo Resources Limited to acquire an 80% interest in three South Mali gold projects covering 675 sq. km of highly prospective Birimian Greenstone terrain.
The assets include:
- A 275 sq. km2 land package adjoining the company’s Tabakorole Project, with the structure hosting the Tabakorole Mineral Resource appearing to continue to the west into the Sirakourou tenement.
- A 200 sq, km project named Kolondieba hosting numerous artisanal workings over 15km of strike, located on the Bannifin Shear Zone (Figure 2), one of the major controlling structures in southern Mali.
- Yanfolila– A 200 sq. km advanced exploration project strategically located on splays off the Siekerole Shear Zone, with historical intercepts including: 27m at 3.6 g/t gold; and 16m at 2.0 g/t gold.
Managing Director Phil Hoskins, said that within a matter of months, Marvel has assembled a portfolio of high-quality gold projects, comprised of:
- a large existing resource within a strategic landholding that provides an expanded platform for resource growth (Tabakorole);
- two advanced exploration projects in close proximity to existing operations (Lakanfla and Yanfolila); and
- the prospective Kolondieba project.
The location and size of the new South Mali Gold Projects, combined with the company’s existing advanced exploration projects at Tabakorole and Lakanfla, provides the Company with numerous opportunities to make a significant gold discovery.
“We are extremely pleased with this acquisition which provides a 275% increase in the Tabakorole landholding and an overall 544% increase in our Mali footprint to 799 sq. km,” Mr Hoskins said.
“The acquisition positions Marvel as a leading Malian gold explorer with a portfolio of gold exploration projects and a pipeline for adding shareholder value.
“It re-affirms our commitment to gold exploration in Mali, a country we believe possesses outstanding prospectivity with well-established mining laws.
?We welcome respected Mali gold explorer, Oklo Resources to our share register and look forward to sharing a prosperous JV relationship with them going forward.”
