Company Announcements

Jagger Zone continues to show strong potential for high-grade gold mineralization, with the system remaining open at depth

QUEBEC CITY--(BUSINESS WIRE)--Oct. 3, 2024-- Kobo Resources Inc. (“Kobo” or the “Company”) (TSX.V: KRI) is excited to report the first results from its resumed 2024 diamond drilling program at the Company’s 100%-owned Kossou Gold Project (“Kossou”), in Cote d’Ivoire, West Africa. The results confirm significant mineralization at the Jagger Zone, including 7.0 metres (“m”) at 4.83 g/t Au, further expanding the high-grade potential of this high prospective target.

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Figure 1: Jagger Zone and KDD0026 Collar Location Map (Graphic: Business Wire)

• First results from resumed 2024 diamond drilling campaign at Kossou Gold Project
  • 7.0 m at 4.83 g/t Au from 230.0 m, including 4.0 m at 7.84 g/t Au from 232.0 m and
  • 6.0 m at 1.62* g/t Au from 291.0 m
• Jagger Zone continues to show strong potential for high-grade gold mineralization, with the target remaining open at depth

Edward Gosselin, CEO and Director of Kobo commented: “The results from our initial hole of our resumed 2024 10,000 m diamond drilling campaign are very encouraging, intersecting 7.0 meters at 4.83 g/t Au at the Jagger Zone, a highly prospective gold target at Kossou. This reinforces the significant potential of the Jagger Zone, where mineralization remains open at depth.” He continued: “Our exploration program is progressing as planned, and with several high-priority targets still to be tested, we are optimistic about further expanding mineralization across our key gold target zones. These strong early results set a solid foundation as we continue to unlock the value of Kossou for our shareholders.”

KDD0026 was drilled to test for the depth extension of gold mineralisation at the Jagger Zone on section JZ700 beneath reverse circulation (“RC”) holes KRC008 and KRC009 (see press release dated July 24, 2023) and diamond drill holes KDD0001 – 19.0 m at 2.82 g/t Au, including 3.7 m at 11.82 g/t Au (see press release dated April 30, 2024) and KDD0021 – 14.0 m at 2.90 g/t Au (see press release dated August 13, 2024). KDD0026 undercut KDD0021 by approximately 50 m and further delineated a broad zone of sheared volcanics, showing moderate to strong silicification and accompanying sericite-chlorite-carbonate-tourmaline alteration with disseminated pyrite and quartz/quartz-carbonate veins and veinlets. Within this broad shear structure, key high-grade gold zones reported (see Table 1) correspond to the more intense shearing and alternation. Several other zones of anomalous gold mineralisation were encountered down hole correlating to zones of additional shearing and alteration.

The Jagger Shear has now been drilled to a depth of approximately 150 m below surface and remains open to depth. Drilling continues at the site with holes planned to continue exploring the core of the Jagger Zone at similar depths and to also test a 300 m gap in drilling south of section JZ700. Planned holes will also test beneath RC holes drilled in 2023, including KRC015 that returned 6.0 m at 4.31 g/t Au and KRC020 that returned 18.0 m at 0.60 g/t Au amongst others (see press release dated August 14, 2023) up to 500 m south of the current drill section.

Table 1: Summary of KDD0026 Drill Results

An accurate dip and strike and controls of mineralisation are unconfirmed at this time and the true width of mineralisation are unconfirmed at this time. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances.

Next Steps and 2024 Diamond Drill Program Details

The Company’s ongoing 10,000 m diamond drill program at Kossou will focus on key gold targets, including the Jagger, Road Cut, and Kadie Zones, with the first ever diamond drilling being conducted at the Contact Zone. The program aims to confirm and extend known mineralization, while testing new parallel structures identified through previous work.

Sampling, QAQC, and Analytical Procedures

Drill core was logged and sampled by Kobo personnel at site. Drill cores were sawn in half, with one half remaining in the core box and the other half secured into new plastic sample bags with sample number tickets. Samples are transported to the SGS Côte d’Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. QAQC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample (split of the 1 m original sample) every 20 samples. All QAQC 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, P.Geo., 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 Côte d'Ivoire, one of West Africa’s most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company’s 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region’s largest gold mines with established processing facilities.

The Company is drilling to unlock the potential size and scale of Kossou within 9+ km strike length of highly prospective gold in soil geochemical anomalies with excellent rock and trench sampling, as well as drill results. Significant gold mineralisation has been identified at three main targets within a 300 m wide, 2+ km long, pervasively altered structural corridor defining a potentially large orogenic gold system. In 2023, the Company completed approximately 5,900 meters of reverse circulation (RC) drilling and 5,400 meters of trenching, alongside 4,368 meters of diamond drilling in 2024. Moving forward, the Company plans to conduct an additional 10,000 meters of core diamond drilling during the remainder of 2024 at key targets at the Kossou Gold Project. The Company also plans on additional exploration on its Kotobi Permit and pending approval for over 600 km² of prospective ground as part of its strategic efforts to expand its footprint in Côte d'Ivoire.

Kobo remains committed to identifying and developing new opportunities to enhance its land position and growth in the region. 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 Venture Exchange under the symbol “KRI”. For more information, please visit www.koboresources.com.

Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement on Forward-looking Information:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241003017382/en/

For further information, please contact:

Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com

Source: Kobo Resources Inc.