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QUEBEC CITY — Kobo Resources Inc. (“Kobo” or the “Company“) (TSX.V: KRI) is pleased to announce final assay results from the remaining seven drill holes as part of the Company’s diamond drilling program at its 100% owned Kossou Gold Project (“Kossou”) located in Côte d’Ivoire, West Africa. These results are part of the completed 4,368.5 metres of diamond drilling across 25 holes on the Company’s three key gold targets: Jagger Zone, Road Cut Zone, and Kadie Zone. The Company is optimizing all current drill data and integrating results from its previous trenching and drilling programs to prepare for an additional diamond drilling program set to begin in mid-September.

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Highlighted Diamond Drill Results:

• KDD0021:
  • 3.0 m at 3.91 g/t Au from 151.0 m
  • 14.0 m at 2.91 g/t Au from 183.0 m, including 10.0 m at 3.96 g/t Au from 183.0 m and 3.0 m at 8.35 g/t Au from 190.0 m
• KDD0022:
  • 6.0 m at 5.47 g/t Au from 123.0 m, including 1.0 m at 30.90 g/t Au from 126.0 m
• KDD0023:
  • 4.0 m at 2.79 g/t Au from 92.0 m, including 1.0 m at 9.51 g/t Au from 93.0 m
• KDD0024:
  • 2.0 m at 3.95 g/t Au from 17.0 m
  • 7.0 m at 1.91 g/t Au from 64.0 m, including 2.0 m at 5.76 g/t Au from 70.0 m

Edward Gosselin, CEO and Director of Kobo commented: “The final results from our initial diamond drilling program underscore the strong potential of the Kossou Gold Project, particularly with high-grade intercepts, including 14 meters at 2.91 g/t Au and 6 meters at 5.47 g/t Au from the Jagger Zone, confirming the continuity and depth of mineralization at this key gold target. These findings not only build upon our previous exploration work, but they are providing a solid basis for the upcoming diamond drilling program set to start in September. We are very optimistic about further defining the resource potential at the Kossou Gold Project as we advance to the next phase of our exploration efforts.”

Jagger Zone: Final Diamond Drill Result Overview

Results for the final three diamond drill holes, KDD0021, KDD0022 and KDD0023, were received for the Jagger Zone (see Table 1). This group of holes were designed to undercut the previous reverse circulation (“RC”) holes completed in July 2023 and the initial two diamond drill holes KDD0001 and KDD0002 ( see press releases dated April 30, 2024, and July 11, 2024, for details) between 125 and 150 m below surface. Collar locations can be found in Figure 1.

Drill hole KDD0021 was targeting extension of gold mineralisation beneath trenches KTR030 and KTR030a, diamond drill hole KDD0001 (19.1 m at 2.82* g/t Au from 61.4 m) and previous results from RC holes KRC008 (13.0 m at 0.72 g/t Au from 15.0 m) and KRC009 (48.0 m at 1.03 g/t Au* from 69.0 m, including sub-intervals of 13.0 m at 1.70 g/t Au from 69.0 m and 15.0 m at 1.37 g/t Au from 87.0 m) ( see press release dated July 24, 2023).

Geological interpretation of the diamond drill holes on section JZ 700 (see Figure 2) shows multiple north striking shear zones (Jagger Shear) hosted within a generally north trending package of massive to pillowed basalts with minor intrusive and interflow sedimentary units.

Based on the geology and structures measured in oriented drill core, the upper intercept in KDD0021 correlates with the intersection in KDD0001 of 19.1 m at 2.82* g/t Au. The strong intercept at 183.0 m of 14.0 m at 2.91 g/t Au in KDD0021 correlates with the lower grade intercept of 10.2 m at 0.40 g/t Au previously reported in KDD0001. The higher-grade gold zones are associated with distinct “V2” style quartz-carbonate veins. Geological logging of drill core indicate the shear zones pinch and swell down dip and along strike and contact relationships suggest a southernly plunge to the intersection of the north-south trending main brittle/ductile shear zones and west-northwest V2 vein sets. The exploration potential remains high as the mineralised shear remains open in all directions.

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Drill holes KDD0022 and KDD0023 were drilled approximately 50 m and 100 m north of KDD0021 and both intersected multiple shear zones hosting gold mineralisation with evidence of cross-cutting V2 vein sets to similar depths reported in KDD0021.

In KDD0022 a mineralised zone of 6.0 m at 5.47 g/t Au was intersected at 123 m down hole within a well-developed shear zone with a 1.0 m intercept grading 30.90 g/t Au. This high-grade result is correlated with a V2 vein set and the length of gold mineralisation (19.0 m at 0.77 g/t Au from 170.0 m) illustrates that broad zones of gold mineralisation occur with the Jagger Shear. Several +1 g/t Au zones including 5.0 m at 1.17 g/t Au are located within this zone.

In KDD0023 there are several mapped shear zones with gold mineralisation including key intercepts of 4.0 m at 2.79 g/t Au, including 1.0 m at 9.51 g/t Au from 92.0 m, 5.0 m at 1.19 g/t Au from 126.0 m, 3.0 m at 1.49 g/t Au from 180.0 m and 2.0 m at 3.34 g/t Au from 274.0 m. These zones and other wide zones of gold mineralisation demonstrate the important potential of the Jagger Zone.

Kadie Zone: Final Diamond Drill Results Overview

The final two drill holes, KDD0024 and KDD0025 were drilled at the Kadie Zone. KDD0024 which tested the Kadie 2 anomaly 50 m southeast of KDD0004 returned several gold mineralization zones (2.0 m at 3.95 g/t Au from 17.0 m and 7.0 m at 1.91 g/t Au, including 2.0 m at 5.76 g/t Au from 64.0 m depth). Drill hole KDD0025 failed to intersect significant gold concentrations. See Figure 1 for collar locations.

Road Cut Zone: Final Diamond Drill Result Overview

Diamond drill hole KDD0020, drilled 50 m north of KDD0012, intersected significant shearing but yielded only 2.0 m at 0.30 g/t Au from 48.0 m.

Upcoming Diamond Drilling Program Set to Begin in September 2024

With the completion of its initial diamond drill program, the Company is currently evaluating all exploration results. It is planning to restart drilling on or around September 5^th. Additional road access and drill pads have been planned and equipment is being re-mobilised to create the access as of August 19^th. The Company is also mobilizing its workforce to an onsite workcamp later this month in preparation of the next drilling phase. The Company plans to proceed with its additional diamond drilling phase at the Road Cut Zone, Jagger Zone and Kadie Zone. Six 100 m exploration holes (600 m) will test the northern part of the Contact Zone Fault, where significant artisanal mining is occurring along the shore of Lake Kossou. The major, first-order fault, with coincident geochemical and geophysical anomalies is considered a highly prospective target.

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Table 1: Summary of Drill Results

An accurate dip and strike and controls of mineralisation are unconfirmed currently 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.

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.

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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 results. The Company completed ~5,900 m of RC drilling and ~5,400 m of trenching in 2023 and has completed 4,368 m of diamond drilling to date in 2024. 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 mesothermal gold system. 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.

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/20240813686340/en/

Contacts

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

X: @KoboResources | LinkedIn: Kobo Resources Inc.

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