Okote Gold Project
A highly prospective gold project in southern Ethiopia’s Adola Gold Belt, located less than 60km from the 4.5Moz Lega Dembi Gold Mine within the Arabian-Nubian Shield.
Project Overview
The Okote Gold Project is being put on hold for the foreseeable future given the uncertain military situation.
The Okote Gold Project is located in Oromia State in southern Ethiopia, within the highly prospective Adola Gold Belt. The project covers 42.8 square kilometres and lies less than 60 kilometres south of the Lega Dembi Gold Mine, Ethiopia’s largest gold producer with an estimated endowment of approximately 4.5 million ounces.
The project sits within the Arabian-Nubian Shield, a globally significant metallogenic province known for hosting world-class gold and polymetallic deposits.
Geological Context
Okote shares regional geological characteristics with the Lega Dembi mine but differs in its mineralisation style. Previous operators focused primarily on narrow, high-grade quartz veins, which proved to be discontinuous. DRC Gold Corp considers the broader sulphide-rich shear zones and dioritic host rocks to represent the primary exploration opportunity.
Artisanal mining activity has uncovered approximately 1,100 metres of new workings east of the historically drilled area, revealing wide zones of sulphide-rich mineralisation that remain largely untested by modern drilling.
Historic Drilling Results
A total of 13,761 metres of historic drilling has been completed across the Okote Project, defining gold mineralisation over a strike length of approximately 2.4 kilometres. The highest concentration of drilling occurs within a northern corridor measuring approximately 1,000 metres by 400 metres.
Significant historic intersections include broad zones of mineralisation, with results such as 13 metres at 8.71 g/t gold, 11.65 metres at 4.59 g/t gold, and multiple intersections exceeding 10 metres at grades above 3 g/t gold. Mineralisation in key drill holes is hosted within diorites and sulphide-rich schists, supporting the potential for a large, bulk-tonnage gold system.
Previous studies have concluded that the project has multi-million-ounce potential.
Exploration Strategy
DRC Gold Corp plans to undertake a minimum of 1,500 metres of diamond drilling during the due diligence period. The drilling program will target areas not previously tested by MIDROC and will seek to confirm historic results while expanding mineralisation along strike and at depth.
The exploration strategy is designed to test broader mineralised structures rather than narrow vein systems, aligning with geological observations from artisanal workings and historic drill core.
Acquisition Terms
DRC Gold Corp may acquire an initial 60% interest in the Okote Gold Project through a staged transaction. This includes a 90-day due diligence period, extendable by 60 days, during which drilling will be completed. Upon completion, DRC will fund an initial US$2 million exploration program.
Additional payments to the local partner, Godu General Trading S.C., are structured across signing and early project milestones. DRC Gold Corp may increase its interest to 70% by making staged payments of US$5 million following completion of the exploration phase and a further US$5 million upon completion of a Definitive Feasibility Study.
DRC will sole-fund all exploration through to feasibility and has committed to supporting community development initiatives in the surrounding region.
