10:35 AM EDT, 07/18/2024 (MT Newswires) -- Kobo Resources ( KBRIF ) was edging down Thursday as it reported additional gold assay results from its inaugural diamond drill program at the Kossou Gold Project in Cote d'Ivoire.

Highlights include 2.0 metres at 7.26 g/t Au from 75.0 m and 5.0 m at 4.30 g/t Au from 178.0 m, including 1.0 m at 20.00 g/t Au from 178.0 m.

"These latest assay results from our inaugural diamond drill program at the Kossou Gold Project are a strong testament to the potential of one of Kobo's key targets, the Road Cut Zone. The strong gold intersections from three additional holes . . . confirm the presence and strength of the gold shear zone at the Road Cut Zone, especially at the southern end of the target," said Edward Gosselin, CEO.

Gosselin added: The deeper hits from drill hole KDD0017 have intersected a previously untested shear zone and highlight the depth and continuity of mineralized structures underlying the gold-in-soil geochemical anomaly at the Road Cut Zone.

"These findings support our previous 2023 drill results and strengthen our confidence in the project's overall potential, laying the groundwork for future diamond drilling initiatives. Our exploration efforts in Cote d'Ivoire continue to return strong gold assay results and we look forward to initiating a second round of diamond drill this year."

KRI was last seen down 0.005 at $0.37.

Price: 0.37, Change: -0.01, Percent Change: -1.33