Company Announcements

Further drilling confirms additional, strong gold mineralization at Jagger Zone at depth, supporting potential expansion and continuity of this prospective gold target

QUEBEC CITY--(BUSINESS WIRE)--Oct. 29, 2024-- Kobo Resources Inc. ("Kobo” or the "Company") (TSX.V: KRI) is excited to report strong gold intercepts from the Jagger Zone at its 100%-owned Kossou Gold Project in Côte d’Ivoire. Results from four additional diamond drill holes confirm continued gold mineralization at depth on this prospective target, supported by significant intercepts of 2.0 metres (“m”) at 15.99 g/t Au* (eastern margin of the Kadie Zone), 8.0 m at 3.72 g/t Au and 14.0 m at 1.53 g/t Au.

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

• Every drill hole intersected significant gold mineralisation at depth
  • KDD0027 – 2.0 m at 5.92 g/t Au from 186.0 m and 11.0 m at 0.85 g/t Au from 196.0 m, including 8.0 m at 1.09 g/t Au from 196.0 m
  • KDD0028 – 2.0 m at 15.99 g/t Au* from 8.0 m (eastern margin of the Kadie Zone), 14.0 m at 1.53 g/t Au from 169.0 m, including 9.0 m at 2.26 g/t Au from 174.0 m and 12.0 m at 0.71 g/t Au from 220.0 m and 8.0 m at 3.72 g/t Au from 313.0 m, including 2.0 m at 8.31 g/t Au from 315.0 m
  • KDD0029 – 6.0 m at 1.52 g/t Au from 127.0 m and 6.0 m at 1.48 g/t Au from 194 m
  • KDD0030 – 5.0 m at 2.24 g/t Au from 179.0 m
• Base Camp nearing completion at Kossou, with plans to mobilize a second drill in the coming weeks to accelerate the 2024 diamond drill program

Edward Gosselin, CEO and Director of Kobo commented: “Our latest diamond drill results continue to underscore the strength of the Jagger Zone, with mineralisation showing the potential for continuity at depth. Recent drilling has yielded solid intercepts, including 8.0 metres at 3.72 g/t Au, and 14.0 metres at 1.53 g/t Au, confirming the expanding and high-grade potential of this target. In addition, we intersected a notable 2.0 m at 15.99 g/t Au along the eastern margin of the Kadie Zone, further highlighting the potential for higher grade mineralization in this area.” He continued: “As we near completion of our base camp and prepare to mobilize a second drill, we are well-positioned to accelerate the pace of our diamond drill program for the remainder of 2024. We are excited by the progress made to date and look forward to unlocking more value at the Kossou Gold Project for our shareholders.”

Drilling at the Jagger Zone continues to target its core, with recent results confirming strong down-dip continuity of gold mineralization along the well-defined Jagger Shear Zone. These results support the potential for further expansion of this prospective target. Complete drill result details are provided in Table 1.

Diamond drill hole KDD0027, targeting section JZ650 of the Jagger Zone (see Figure 1 and 2), intersected multiple mineralized zones, including 2.0 m at 5.92 g/t Au from 8.0 metres and 11.0 m at 0.85 g/t Au from 196.0 m, with 8.0 m at 1.09 g/t Au. The deepest intercepts, approximately 165 m below surface, confirm the continuity of mineralization and alteration seen in the Company’s previous, shallower drilling, further reinforcing a continuation of mineralisation at depth.

Diamond drill hole KDD0028 was drilled to test the depth extension on Jagger Zone section JZ600 (see Figure 3) and successfully intersected key mineralized zones, consistent with the Company’s previous drilling efforts in this area. Highlighted intercepts include 2.0 metres at 15.99*g/t Au* from 8.0 m, confirming gold mineralization at the easternmost extent of the Kadie Zone, located west adjacent to the Jagger Zone target. Additional drilling is planned in this area as part of the ongoing diamond drilling campaign. Other significant intercepts include 14.0 m at 1.53 g/t Au from 169.0 m, with a higher-grade zone of 9.0 m at 2.26 g/t Au from 174.0 m, and 12.0 m at 0.71 g/t Au from 220.0 m. Two smaller zones, 2.0 m at 1.50 g/t Au and 2.0 m at 1.86 g/t Au, represent the main Jagger Shear structure as defined in previous drilling. These intercepts confirm the continuity of the Jagger Shear Zone and align well with the results reported from KDD0023 (see press release dated August 13, 2024).

Diamond drill hole KDD0028 was extended to a depth of 347.45 m to follow up on two mineralized zones previously drilled in KDD0023, located approximately 50 m east of the defined Jagger Shear Zone. These zones are considered part of a parallel structure of interest. This strategy was validated with a strong intercept of 8.0 m at 3.72 g/t Au from 313.0 m, including 2.0 m at 8.31 g/t Au from 315.0 m (see Image 1 for visible shearing in core). This correlates with a previously untested weak gold-in-soil anomaly, confirming significant new mineralization that will be followed up in the ongoing drilling campaign. The near right angle intercept of the shear zone structures indicate that drilling is well oriented with respect to the primary Jagger Shear Zone.

Results from diamond drill hole KDD0029 on Jagger Zone section JZ550 and diamond drill hole KDD0030 on section JZ500 continue to demonstrate broad zones of strong gold mineralization within the Jagger Shear Zone. Notably, KDD0030 shows strong correlation with previous reverse circulation (“RC”) drilling from the 2023 program, further confirming that the zone remains open to the north.

Drilling at the Jagger Zone remains ongoing, with current focus on structures south of section JZ700, where results from several holes are pending.

Table 1: Summary of Significant Diamond Drill Hole 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.

2024 Diamond Drill Program: Progress Update

The Company has drilled 2,482 m to date as part of its 10,000 m diamond drilling program at the Kossou Gold Project in 2024, which is targeting key zones including Jagger, Road Cut, Kadie, and the Contact Zones. Construction of the Company’s new base camp at Kossou is nearing completion, which will further support the efficiency of ongoing operations as it mobilizes a second drill to accelerate the pace of the 2024 drilling campaign.

As the Company continues to progress with its exploration efforts, drilling is proceeding south of the reported results to further extend gold mineralisation. Additional holes are also planned north of the current drill area. The rig will then move to selected targets on the Road Cut Zone and Kadie Zone to follow-up on previously reported results from the 2023 RC program and the first stage of the 2024 diamond drill program. The Contact Zone will also be tested with diamond drilling as part of the current program. Additional results are expected in the coming weeks.

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 is conducting 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.

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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.

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

Source: Kobo Resources Inc.