11:47 AM EST, 01/13/2025 (MT Newswires) -- (Updates shares.)

Kobo Resources (KRI.V) reported Monday additional high-grade gold results from an ongoing 10,000-meter diamond drill program at the Kossou gold project in Cote d'Ivoire.

According to a statement, notable intercepts include 11.0 meters at 6.77 grams per tonne (g/t) gold at the Road Cut zone, and 4.0 meters at 6.38 g/t gold at the Kadie zone.

The company also reported "encouraging" early results from the first diamond drill holes on the highly prospective Contact Zone target, with results yielding 6.0 meters at 1.94 g/t of gold, confirming the potential for new gold targets at the zone. With drilling now complete at the Kadie Zone, both drill rigs are focused on advancing exploration at the Road Cut and Contact Zones to unlock additional gold mineralization, it said.

"These results highlight the success of our ongoing diamond drill program in uncovering the significant gold potential across multiple zones at the Kossou gold project," said chief executive Edward Gosselin.

"With two diamond drill rigs operating, we are expediting progress on key targets and remain on track to complete our 10,000 meter program by the end of January 2025," Gosselin added.

Kobo shares were last seen down $0.005 to $0.31 on the TSX Venture Exchange.

Price: 0.30, Change: -0.01, Percent Change: -3.23