60m @ 1.4 grams per tonne ("g/t") gold equivalent ("AuEq.") from 53m, including 9m @ 4.2 g/t AuEq. from 98m downhole in OEDD-111.
33m @ 1.1 g/t AuEq., including 15m @ 1.4 g/t AuEq. from 272m downhole in OEDD-110.
42m @ 0.9 g/t AuEq., including 14m @ 1.7 g/t AuEq. from 336m downhole in hole OEDD-109.
Drilling continues to demonstrate excellent continuity over broad width and gold tenor.
A total of 6,380m of drilling was completed across 22 holes and one re-entry hole.
Toronto, Ontario--(Newsfile Corp. - March 3, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to report results from four diamond drill holes completed as part of the expanded drill campaign targeting the BBM zone at the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. The drill program, which began in November 2024, is complete with a total of 6,379.9m drilled. Drill holes OEDD-106 and OEDD-109 to OEDD-111 were drilled along the eastern margin of the main northwest-plunging mineralized zone, where the Company is increasing drill spacing to a 100m grid (see drill plans and sections in the link below). Notably, drill hole OEDD-111 intersected shallow, broad-width mineralization from just 53m downhole, with good grade. Assay results from 14 drill holes of the BBM diamond drill program are still pending.
"We are pleased to share additional strong drill results from BBM. The four newly reported holes, along with those previously announced this quarter, continue to meet our expectations, returning robust gold and copper mineralization with consistent broad width and grade. These results further confirm the continuity of mineralization at BBM and highlight its near-surface potential.
It's very pleasing to see the intense exploration efforts we initiated at the start of the 2024-2025 dry season in November now bearing fruit. Results at BBM have met all expectations, and with two rigs operating, we anticipate further promising results ahead. We recently announced significant progress across multiple fronts, including the completion of RC drilling at Fremen, diamond drilling at Empire, a 150-line-km IP geophysics survey along the BBM trend, ongoing drilling at the BBM extensions and Charger, and preparation for drilling at Lando. With multiple active exploration programs underway, I am extremely pleased with the team's momentum and dedication," commented Andrew Chubb, CEO of Awalé Resources.
A full table of significant intercepts from the current release, with drill collar locations for all drilling in this phase at BBM are presented in Table 1 and Table 2, respectively.
Table 1: Significant Intercepts - (from this release)
Hole
From (m)
To (m)
Width (m)
Au (g/t)
Cu (%)
Ag (g/t)
Mo (ppm)
AuEq. (80%)
Comp Trigger (Au g/t)
OEDD0106
332
360
28
0.7
0.28
1.0
185
1.0
0.5
Including
338
345
7
1.1
0.51
1.6
97
1.5
1.0
OEDD0109
336
378
42
0.7
0.24
1.0
124
0.9
0.2
Including
359
373
14
1.4
0.39
1.4
217
1.7
1.0
OEDD0110
272
305
33
0.9
0.25
1.0
129
1.1
0.5
Including
289
304
15
1.2
0.29
1.4
169
1.4
1.0
OEDD0111
53
113
60
1.4
0.14
0.6
270
1.4
0.2
Including
57
64
7
2.0
0.24
1.3
354
2.1
1.0
Including
57
59
2
4.0
0.43
1.9
782
4.1
2.0
and
76
83
7
1.8
0.17
0.5
454
1.9
1.0
and
98
107
9
4.7
0.29
1.3
227
4.2
1.0
Including
101
106
5
7.5
0.33
1.7
275
6.5
2.0
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d'Ivoire, where the Company is focused on the Odienné Copper-Gold Project ("Odienné" or the "Project"), covering 2,489 km2 across seven permits. This includes 796 km2 in two permits held under the Awalé-Newmont Joint Venture ("OJV"). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited ("Newmont").
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum mineralized systems within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024.
The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well-seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Quality Control and Assurance
Analytical work for geochemistry samples is being carried out at the independent ALS Laboratories in Ghana and Ireland, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags until collected by ALS from the Company's secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Ireland where the sample is analyzed by 52 element ICP/MS with a 4-Acid digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.
Table 2: BBM Drilling Collar Cable - (all collars from this program)
Hole ID
Easting
Northing
RL_M
AZIM_TRUE
DIP
EOH_M
Results Received
Comments
OEDD0103
655899
1048090
450
35
-55
197.43
✓
OEDD0104
655737
1048029
451
35
-55
452.3
✓
OEDD0105
656034
1048010
454
35
-55
182.17
✓
OEDD0106
655947
1047877
453
35
-55
434.3
✓
OEDD0107
656024
1047863
455
35
-55
30.5
Failed Hole
OEDD0108
656027
1047867
453
35
-55
338.2
✓
OEDD0109
655999
1047787
455
35
-55
411.13
✓
OEDD0110
656075
1047766
457
35
-55
380
✓
OEDD0111
656179
1047907
457
35
-55
155.1
✓
OEDD0112
656248
1047824
461
35
-55
140.2
OEDD0113
656157
1047726
460
44
-56
320.2
OEDD0115
656118
1047645
460
35
-55
431.29
OEDD0119
655870
1048027
448
35
-55
341.6
OEDD0122
655737
1048132
451
35
-55
245.2
OEDD0123
656299
1047755
462
35
-55
140.15
OEDD0125
656253
1047682
462
35
-55
251
OEDD0128
655693
1048160
453
35
-55
275.74
OEDD0129
656211
1047615
448
35
-55
341.15
OEDD0130
655650
1048106
433
35
-55
107.2
OEDD0131
655823
1048362
419
215
-55
360.2
OEDD0132
655566
1048098
424
35
-55
422.2
OEDD0133
655546
1048192
442
35
-55
332.1
OEDD0076
655766
1048079
450
35
-55
344.76
90.56m re-entry
Mineralized Interval Calculations
Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the BBM target, initial mineralized zones are calculated at a 0.2 g/t trigger and include up to 3 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 0.5 g/t, 1 g/t, and 2 g/t trigger values, with up to 3 metres of internal waste. Table 1 contains a list of all BBM holes reported in this release. True widths are estimated to be 70% of the downhole widths.
Au Equivalent Calculations
Au Equivalent is calculated using the following parameters in USD: Au - 1910/Oz (Troy), Cu 3.80/lb, Mo 40,000/Tonne, and Ag 23.40/Oz (Troy). The Formula AuEq = Au (g/t) + ((Cu (ppm) * 0.00014) + (Mo (ppm) * 0.00065) + (Ag (g/t)*0.01225)). An 80% metallurgical recovery is assumed for all metals, as the specific recovery rates for individual metals are unclear, and assuming different recoveries would be premature at this stage.
Qualified Person
The technical and scientific information contained in this news release has been reviewed and approved for release by Andrew Chubb, the Company's Qualified Person as defined by National Instrument 43-101. Mr. Chubb is the Company's Chief Executive Officer and holds an Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic Geoscientists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.
Abbreviations Used in this Release
Ag
Silver
Au
Gold
AuEq.
Gold Equivalent
Cu
Copper
g/t
Grams per tonne
km
Kilometres
m
Metres
Mo
Molybdenum
ppm
Parts per million
AWALÉ Resources Limited On behalf of the Board of Directors
The Company's public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.awaleresources.com.
Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-Looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-Looking statements in this press release include but are not limited to statements regarding, the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-Looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
