Koulou Gold Announces Commencement of Drilling at the Sakassou Project, Côte d’Ivoire

March 27, 2024

Vancouver, British Columbia, March 27, 2024 – Koulou Gold Corp. (“Koulou Gold” or the “Company”) is pleased to announce the commencement on March 8, 2024, of the 10,000m reverse circulation (RC) drill program at the Sakassou Project, located in Côte d’Ivoire, West Africa.

2024 Exploration Program

The 2024 drilling program will include up to 10,000m of RC, comprised of 95 drill holes across three major target areas initially identified from property-scale gold-in-soil geochemical anomalies and artisanal pits. The 2024 drill program will test the continuity at Bravo West and several new targets generated from the results of the 2023 detailed ground magnetic and IP surveys, and the 2022-2023 exploration programs (Figures 1 - 3). The meters allocated to each zone are listed in Table 1.

Table 1. 2024 RC program plan summary

Target Number of Holes Meterage
Charlie 30 3,070m
Echo 33 3,375m
Bravo 32 3,555m
TOTAL 95 10,000m

Charlie Target

Charlie is an untested three-kilometer-long and up to 350m wide gold-in-soil geochemical anomaly. A detailed ground magnetic survey displays two distinct domains separated by an interpreted major fault. The Charlie soil anomaly seems to be spatially associated with an oblique splay of this major fault and chargeability and resistivity anomalies. The 2024 drill program will test the full width and up to 2.3 kilometers of strike along the structural corridor under the heart of the soil anomaly (Figure 1).

Figure 1. Sakassou Project overview and 2024 drill plan at Charlie

Echo Target

The detailed ground magnetic survey at Echo displays complex folding and faulting of the host stratigraphy. The drilling at Echo is allocated to testing a broad zone of 0.33g/t Au over 62m intersected in trench ETR05A over an interpreted fold-hinge structure along a major fault. Additionally, the drilling at Echo will follow up on ESRC-026 which ended in mineralization and intersected 6.94 g/t Au over 5m (see press release dated March 31, 2022). The remainder of the drilling will test underneath new artisanal workings, high-grade grab samples, and complex folding and faults interpreted from the detailed ground magnetic survey.

Figure 2. Echo Target area 2024 drill plan

Bravo Target

The 2024 drill plan at Bravo aims to extend the existing one-kilometer by up to 40m wide footprint of mineralization at Bravo West (including BWRC-014: 2.38g/t Au over 33m; and BWRC-009: 1.14g/t Au over 40m) (see press release dated March 31, 2022) as the structure and the gold-in-soil geochemical anomaly extending to the northeast along this trend for a minimum of one kilometer. Additionally, the 2024 drill plan will test major structures interpreted from the detailed ground magnetic survey that are spatially associated with gold-in-soil geochemical anomalies, new artisanal workings, and high-grade gold in grab samples (including 32.27 and 41.23 g/t Au) at Bravo West and Bravo East (Figure 3).

Figure 3. Bravo Target area 2024 drill plan

About the Sakassou Project

The 39,690-hectare Sakassou permit is located in the Bouaflé greenstone belt ~30 kilometres northwest of Perseus Mining's (TSX: PRU) Yaoure-Angovia gold deposit.

The majority of the project area is underlain by a diverse package of clastic rocks ranging from mudstone to polymictic conglomerates. The regional structural trend is defined by steeply dipping to sub-vertical, NE trending, bedding sub-parallel S1 schistosity, NE verging folds, and high-strain zones. To date, gold mineralization is found to be closely associated with quartz veining, silicification, and disseminated pyrite preferentially developed within coarser grained sandstones and conglomerates as these more competent lithologies accommodated the regional stress by forming brittle fractures relative to the intercalated silt and mudstones lithologies which formed a strong schistosity and high-strain zones.

Figure 4. Sakassou Project location

QA/QC and Chip Sampling Protocols

All drill samples are collected under the supervision of Koulou Gold Corp. employees. One meter RC samples come directly from the cyclone and get weighed. Each sample is split into three, one is sent to the lab, one is used as a witness, and the remaining is kept in a large, numbered sample bag. A porridge bowl is used to collect a representative sample from the large sample bag and is washed and logged by a geologist. Samples are bagged, blanks and certified reference materials are inserted at regular intervals and follow industry QA&QC standards. Groups of samples are placed in large bags and transported by a member of the Koulou team from the project directly to MSALABS laboratory in Yamoussoukro, Cote D’Ivoire.

Sample preparation and analytical work for this drill program will be carried out by MSALABS. Samples will be prepared for analysis according to MSALABS method CRU-CPA: where individual samples will be dried, crushed to 2mm, and split. Gold in samples will be analyzed using MSALABS method CPA-Au1 where a 500g split is analyzed using photon assay. 

Qualified Person

Mr. Janek Wozniewski, B.Sc., P.Geo. (EGBC #172781), “Qualified Person” under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

About Koulou Gold Corp.

Koulou Gold Corp. is a private mineral exploration company incorporated under the laws of the Province of British Columbia and based in Vancouver, British Columbia, Canada. Koulou Gold’s focus is early to advanced-stage exploration in West Africa. The Company currently holds an option to earn up to 100% interest in the Sakassou Project in central Côte d’Ivoire, and an additional exploration licence in the well-endowed Syama – Boundiali greenstone belt in northern Côte d’Ivoire.

On behalf of Koulou Gold Corp.

Désiré Aboukan, President and Director

For further information, please contact:

Alex Ruggieri, CEO
Koulou Gold Corp.
+1 778 888 4986

Cautionary Statement Regarding Forward Looking Statements

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.