Mambasa Gold Project
Okpai has executed a JV agreement to earn up to a 70% interest through achieving resources milestones and making a DTM. There are no onerous initial financial commitments with the exception of an initial US$150,000 minimum expenditure commitment after which OKR can withdraw without penalty.
The Mambasa project is located in the Ituri province of NE DRC and lays along strike from Loncor Resources Makapela gold project with resources of 1Moz @ 7.6g/t gold and Kilo Gold Mines Adumbi gold project with 1.9Moz @ 1.7g/t gold.
Analogies to the 20Moz Geita Gold Mine – disseminated gold mineralisation within 10 to 20m wide BIF package with associated higher grade stock work quartz veins. The project lays within the most prospective greenstone belts with over 100Moz of gold defined over the last 10 years.
Aero-magnetic defined NW-SE, 8km long structure with artisanal workings scattered along this structure. There is a section of 600m of strike intensively worked to a depth of 25m with between 5 and 40g/t Au recovered regularly.
The project is currently producing between 500gm and 1kg per week of gold through artisanal mining methods.
Both greenstone belt and licence area are untested by modern methods and have never been drilled. Okapi has in place an aggressive exploration program to drill test the project quickly and gauge its potential.
Crackerjack Gold Project
The Crackerjack Project is located some 90km SW of Halls Creek town just
South of the historic Mt Dockrell Mine. Easy access from Broome to Halls Creek and onto the licence area. Okpai will own 100% of the Crackerjack licence at IPO. Minimum expenditure requirements are $10,000/annum
There are over 2km strike of historic workings on the prospective upper Biscay Formation with historic high grade production from the Crackerjack, Erin go Bragh, Irish Lass, Carols and the Crackerjack South prospects.
During the 1980’s, drilling defined a mineralised trend with drill intercepts of 3m @ 2.99g/t Au; 3m @ 3.31g/t Au nd 3m @ 19.2g/t Au, confirmed by one recent trench result over the same area of 3m @ 15.7g/t at surface.
The nearest similar project is the Palm Springs resource of 120,000oz @ 2.1g/t gold. Mt Dockrell mine also lays along strike and structural mapping suggests that the main structures hosting the Mt Dockrell gold mineralization continue towards the Crackerjack Project.
The Company will assess the potential of the licence to hold significant gold resources through an initial mapping, trenching and sampling program and leading to a drilling program should results warrant this.
Please note that the interests in these Projects to be acquired by the Company are subject to the Company completing its fundraising and being admitted to the ASX.