Mambasa Gold Project
Okapi 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.