Okapi Resources Ltd: Assays Uncover 2km Lithium Target at Lake Johnston Project

Perth, Australia - Okapi Resources Ltd. (ASX:OKR) (FRA:26O) is pleased to announce that assays have been returned from the recent soil sampling program on Okapi's 100% owned tenement E63/2039 at its Lake Johnston Project. The tenement is located in the central Lake Johnston Greenstone Belt (Figure 1*). The belt hosts the Maggie Hays and Emily Ann underground nickel mines. Tenement E63/2039 is located approximately 450 km east of Perth, Western Australia and lies adjacent to Okapi's Mount Day Joint Venture Project (Farm-in to earn 75%) in the Lake Johnston Greenstone Belt.

Okapi's Executive Director, Mr David Nour said, "At this early stage of exploration on the project, we are very pleased to be receiving encouraging results for both gold and lithium. We will be looking to fast track exploration by confirming the on-ground expression of the structures and pegmatites hosting these metals, and working towards receiving the necessary clearances as soon as possible to drill these targets."

Okapi's program comprised 664 samples on a 200m x 50m grid, to infill and complement historical results. A strong lithium target has been generated from the soil program, with anomalous results recorded in lithium (Li), caesium (Cs) and rubidium (Rb) - metals typically associated with lithium-bearing (LCT) pegmatites.

An anomalous lithium zone above 25 ppm Li over 2,000 m of strike length has been recorded by Okapi from the results of this program (Figure 3*). A peak lithium-in-soil result of 86 ppm Li compares well with the nearby results on E63/1903 announced by Charger Metals NL (ASX:CHR) on 28th July 2021.

It was noted from basic mapping conducted during the soil program that several pegmatites were recorded in the zones of LCT mineralisation. The extent of these pegmatites will be confirmed in the near future with more detailed mapping and sampling, with a view towards finalising drilling positions.

Gold anomalies have also been determined that provide a robust confirmation and extension of historically-reported anomalism. Significantly, the anomalism extends over 5km on E63/2039 along interpreted structures where they lie under shallow soil cover and are predominantly not associated with the historic Maggie Hays Hill gold workings (Figure 4*). Most of the currently identified anomalous gold trends have not yet been tested by drilling.

The semi-continuous gold anomalies are present above highly metamorphosed intrusive mafics and ultramafics and are accompanied by a zone of silver (Ag), bismuth (Bi) and tungsten (W) anomalism supportive of a gold mineral system. The highest assay values (up to 78 ppb Au) correlate well with zones of shearing and deformation observed in outcrop.

Okapi's results reinforce the presence of elevated gold-in-soil anomalism along interpreted structures and in proximity to intrusive felsic bodies on the tenement. The anomalies also lay north-west along strike from gold targets on the adjoining tenement E63/1903. In total, the recent work has confirmed the presence and tenor of gold-in-soil anomalism over nearly 15km of strike length on the project tenements. It was also noted that the gold anomalism is open to the north, past the end of the soil sampling program.

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About Okapi Resources Ltd:

Okapi Resources Ltd. (ASX:OKR) is a minerals exploration company focused on the discovery and commercialisation of mineral deposits in Australia.

Okapi's primary objective is to discover and develop mineral resources from its current portfolio. The Company has carefully selected projects with historical workings and excellent results. Okapi has a team of professionals with an exemplary record of success and with a particular history in Australia.

Okapi is also pursuing a growth strategy that aims to appraise and secure further exploration and development opportunities within gold and mineral endowed districts.

Source:
Okapi Resources Ltd.

Contact:

Leonard Math Executive Director and Company Secretary Okapi Resources Ltd. T: 08 6117 9338 E: leonard.math@okapiresources.com