26m @ 12 g/t gold from 146m downhole in hole OEDD-120
95m @ 1.8 g/t gold from 170m in OEDD-118
Discovered a new parallel mineralized zone 50m from Charger's high-grade corridor, containing:
26m @ 2 g/t gold from 134m in OEDD-137
Shallow mineralization, at less than 70m depth, in OEDD-136 and OEDD-121, including:
4.0m @ 18.5 g/t gold from 67m in OEDD-121
1.5m @ 13.4 g/t gold from surface in OEDD-136
3.0m @ 3.2 g/t gold from 6.5m in OEDD-136
6.5m @ 4.4 g/t gold from 28.5m in OEDD-136
Charger drilling continues to demonstrate strong continuity of mineralization
Awalé is gaining a broader understanding of the Charger system with target breccia intercepted in all holes, and alteration opens the potential for new targets
Assays pending for four holes on Charger that targeted high-grade mineralization 70m down-dip of prior hits, OEDD-83: 57m @ 26 g/t gold, OEDD-88: 29m @ 20 g/t gold, OEDD-100: 59m @ 14.7 g/t gold
Toronto, Ontario--(Newsfile Corp. - April 17, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to announce high-grade assay results from the first nine diamond drill holes completed as part of the Company's drill campaign at the Charger zone at the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. Highlights include 26m of 12 grams per tonne ("g/t") gold ("Au") in OEDD-120 and 95m of 1.8 g/t Au in OEDD-118.
"Today's results from Charger, including 12 g/t Au over 26m in hole OEDD-120 and 1.8 g/t Au over 95m in hole OEDD-118, confirm the northeastern (NE) mineralization corridor and reinforce our confidence in the continuity, geometry, and scalability of the Charger system. Notably, drill hole OEDD-137 intersected 26m @ 2 g/t Au in a second breccia approximately 50m west of the NE corridor, highlighting the potential for parallel zones of mineralization similar to what has been defined.
"With assays pending for four deeper holes, we confidently advance as we trace high-grade mineralization at depth. Our confidence in the geology is growing and deeper holes are planned to begin in May.
"We now have sufficient data to interpret Charger-style mineralization as magnetite-destructive and occurring within low magnetic zones relative to their surroundings. This geophysical signature has led to the identification of four new target areas adjacent to the current discovery zone (see Figure 1 - with new target zones). With deeper drilling planned and new targets in hand, we are confident in the potential for Charger to provide more exciting results," commented Andrew Chubb, CEO of Awalé Resources.
New Parallel Zone Discovered
Beyond confirming mineralization continuity at Charger, the current program yielded the discovery of a parallel zone on Charger. Hole OEDD-137 intercepted a mineralized breccia 50m from Charger's main corridor, suggesting a similar, but separate structure. Outside the discovery area, four additional target zones with similar geophysical characteristics have been identified, expanding the system's potential that will be drill tested in future programs.
Assay Results for 4 Holes at Charger are Still Pending
Today's results from 9 diamond holes totalling 1,730m confirm Charger as a high-priority gold discovery. Assays are still pending for 4 additional holes, all intersecting the target breccia approximately 70m down dip of the mineralization reported in this release.
Charger's Fold Model and the Introduction of a Shallow Polymetallic Zone
The current exploration program at Charger was designed to build upon the "Fold Model" interpretation (see November 11, 2024 news release), which identified folding as a potential control on high-grade gold mineralization within a NE trending corridor. Drilling over a 200m strike and 250m vertical depth, has confirmed mineralization is hosted in a breccia and folded vein system that is continuous in a NE-SW orientation and steeply dipping to the SE.
The style of mineralization changes with depth. In the upper portion of the target panel, it is predominantly polymetallic, comprising gold and polymetallic semi-massive sulphide expressed as pyrite, pyrrhotite, and chalcopyrite, with copper grades reaching up to 3% in certain intervals alongside significant gold content (see significant intercepts for holes OEDD-136 and OEDD-121 in Table 1 below). Reported widths are downhole, true widths are estimated to be 75% of downhole width, except for hole OEDD-118, where the estimate is 50% of downhole width.
Below 100m from surface, this polymetallic zone transitions into a higher-grade gold zone, where sulphides are typically disseminated at concentrations of 1% to 3% within the breccia. The highest and widest gold grades encountered to date are located below the polymetallic zone (see news releases dated March 25, 2024 and July 31, 2024), with holes OEDD-118 and OEDD-120 intersecting this high-grade gold zone along with the previously reported mineralization in holes OEDD-83, OEDD-88, and OEDD-100.
How Charger Fits into the Odienné Vision for District-Scale Potential
The Odienné Project is being advanced as a district-scale opportunity, and Charger along with BBM and other discoveries continue to show the potential of Odienné as a multi-target system with scale. Charger's evolution from early discovery to a more mature system, with well-defined geometry, alteration zoning, and geophysical fingerprints, provides a template for potential repeatability across the Project. Awalé now understands that Charger-style gold mineralization is associated with magnetite destruction forming low magnetic zones, helping to pinpoint four new prospective areas. This methodological approach demonstrates that Awalé is not just drilling for discovery but building a pipeline of targets with a coherent geologic thesis.
Table 1: Significant Intercepts - (from this release)
Hole ID
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
Cu (%)
Mo (ppm)
Composite Trigger (g/t)
Comment
OEDD0118
170
265
95
1.8
0.5
0.01
2
0.2
Including
173
217
44
2.8
0.7
0.01
3
0.5
and
190
194
4
10.3
1.1
0.01
5
5
Including
250
263
13
2.0
0.3
0.01
2
0.5
Including
272
273
1
0.6
0.2
0.01
1
0.5
OEDD0120
146
172
26
12.0
11.4
0.10
15
0.5
Including
157
163
6
42.0
47.1
0.41
2
5
OEDD0121
67
71
4
18.5
88.7
3.03
4
0.5
OEDD0134
92
98
6
1.5
80.1
0.99
1
0.5
OEDD0135
102
108
6
1.7
0.4
0.01
2
0.5
and
121
126
5
1.4
ICP Results Not Received
0.5
and
143
144
1
1.6
ICP Results Not Received
0.5
OEDD0136
0
1.5
1.5
13.4
5.7
0.02
4
0.5
and
6.5
9.5
3
3.2
3.2
0.02
1
0.5
and
28.5
35
6.5
4.4
11.4
0.07
8
0.5
OEDD0137
134
160
26
2.0
14.8
0.19
1
0.5
New mineralization in parallel zone to NW
Including
140
143
3
6.7
45.3
0.59
1
5
OEDD0138
119
124
5
1.2
11.1
0.04
3
0.5
and
149
150
1
1.4
0.2
0.02
1
0.5
and
157
158
1
5.0
ICP Results Not Received
0.5
and
174
175
1
9.2
ICP Results Not Received
0.5
OEDD0139
17.5
18
0.5
0.9
ICP Results Not Received
0.5
and
39
40
1
0.5
ICP Results Not Received
0.5
and
45
53
8
1.3
ICP Results Not Received
0.5
OEDD0083
273
274
1
0.52
0.2
0.01
2
0.5
New mineralization in parallel zone to SE
and
282
283
1
0.63
1.0
0.03
20
0.5
and
294
295
1
6.08
8.9
0.02
118
0.5
and
301
304
3
4.80
3.1
0.03
2
0.5
and
309
310
1
0.50
0.6
0.02
4
0.5
Table 2: Charger Drilling Collar Cable - (all collars from this program)
HOLE ID
EASTING
NORTHING
RL_M
AZIM_TRUE
DIP
EOH_M
Results Released
Comment
OEDD0118
647,667
1,032,125
474
14
-55
284.3
✓
OEDD0120
647,751
1,032,215
472
14
-55
212.19
✓
OEDD0121
647,722
1,032,231
474
14
-55
152.22
✓
OEDD0134
647,772
1,032,236
472
315
-60
164.27
✓
OEDD0135
647,790
1,032,254
471
315
-60
152.17
✓
OEDD0136
647,765
1,032,276
471
315
-60
89.23
✓
OEDD0137
647,718
1,032,222
474
315
-60
197.16
✓
OEDD0138
647,734
1,032,184
473
315
-60
245.37
✓
OEDD0139
647,844
1,032,237
469
315
-60
233.21
✓
OEDD0145
647,691
1,032,120
471
15
-55
350.44
OEDD0146
647,686
1,032,090
470
15
-55
386.2
OEDD0147
647,651
1,032,062
470
15
-55
416.22
OEDD0148
647,658
1,032,094
472
15
-55
383.14
OEDD0083
647,787
1,032,400
476
193
-55
317.2
✓
Extension of OEDD-83
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 exploring 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
All diamond core sampling through mineralized zones is conducted using HQ or NQ core. The core is cut in half lengthwise, with the left-hand side as oriented downhole collected at 1-metre (NQ) or 50 centimetres (HQ) intervals for assay. The remaining half is retained for future reference. Sampling also respects major geological contacts where necessary. 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 ALS 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 ALS 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.
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
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.
