29m @ 2.2 grams per tonne ("g/t") gold equivalent ("AuEq."), including 10m @ 2.8 g/t AuEq. from 93m downhole in OEDD-105.
28m @ 1.3 g/t AuEq., including 5m @ 1.8 g/t AuEq. from 256m downhole in OEDD-108.
Drilling continues to demonstrate excellent continuity over significant width and gold tenor.
A total of 6,380m of drilling was completed across 22 holes and one re-entry hole, marking the completion of this phase at BBM.
Drilling continues at the Fremen, Charger, and Empire targets.
Toronto, Ontario--(Newsfile Corp. - February 18, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to report results from two 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 now complete with 6,379.9m drilled, with assays from 18 holes yet to be released. Drillholes OEDD-105 and OEDD-108 were drilled within the previously reported central mineralized zone, where the Company is tightening drill spacing to a 100m grid (see drill plans and sections in the link below).
"Building on the success of our previously released results, we are pleased to announce further excellent drill results from BBM. The two holes reported today, along with those released on January 29, have returned results in line with our expectations, with robust gold and copper mineralization demonstrating consistency in both width and grade. These results reinforce the continuity of mineralization at BBM and support its potential as a near-surface resource.
The drill program at the BBM target was extended after step-out holes from the core zone encountered sulfide mineralization and alteration, giving the Company reason to believe that further drilling could unlock substantial growth potential along strike to the southeast and northwest. To expedite progress, a second diamond rig was deployed, enabling us to test the fold model at the Charger target and resume drilling at the Empire target without delay from the extended program at BBM. Additionally, we are actively progressing the Induced Polarization ("IP") geophysics program along the BBM trend and reverse circulation ("RC") drilling over the 100%-owned Fremen target. This increased level of activity is expected to yield a steady flow of results to the market throughout this quarter and beyond," commented Andrew Chubb, CEO of Awalé Resources.
Drilling is ongoing at Fremen, Charger, and Empire
Further to the completion of 6,379.9m of drilling across 22 holes and one re-entry hole at BBM, the Company continues drilling at Fremen, Charger, and Empire.
Charger - 2,000m of diamond drilling planned in 10 holes, testing the fold model, which has previously returned 57m @ 26 g/t Au in hole OEDD-83 and 59m @14.7 g/t Au in OEDD-100.
Empire - 1,000m of diamond drilling planned in 6 holes, targeting the top 120 vertical metres to increase confidence in the structural model. Awalé's first high-grade gold discovery, with previous results including 15m @ 13.1 g/t Au in hole OEDD-24.
A full table of significant intercepts from this 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 ID
From (m)
To (m)
Width (m)
Au (g/t)
Cu (%)
Ag (g/t)
Mo (ppm)
AuEq. (80%)
Comp. Trigger (Au g/t)
OEDD0105
33
36
3
0.6
0.37
2.4
591
1.2
0.2
Including
33
34.5
1.5
1.1
0.68
4.5
1176
2.3
0.5
OEDD0105
62
76
14
0.4
0.09
0.4
32
0.4
0.2
including
72
75
3
0.9
0.13
0.6
28
0.9
0.5
OEDD0105
80
89
9
0.4
0.06
0.2
708
0.8
0.2
including
83
84
1
1.1
0.02
0.1
0
0.9
0.5
OEDD0105
93
123
30
1.4
0.68
2.4
471
2.1
0.2
including
93
122
29
1.4
0.70
2.5
486
2.2
0.5
and
93
109
16
1.9
0.63
2.1
560
2.6
1.0
and
93
103
10
2.4
0.54
1.8
511
2.8
2.0
OEDD0108
139
140
1
0.5
0.01
0.1
8
0.4
0.2
OEDD0108
211
220
9
0.3
0.17
0.7
123
0.5
0.2
OEDD0108
255
286
31
1.1
0.22
0.9
135
1.2
0.2
Including
256
284
28
1.2
0.23
1.0
147
1.3
0.5
and
264
284
20
1.5
0.25
1.0
158
1.5
1.0
and
279
284
5
2.2
0.03
0.3
6
1.8
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.
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
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.
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.
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
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.
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.
