Awale Resources drills 20 g/t gold over 29 metres at Odienne, Côte d’Ivoire
Awale Resources Ltd. [TSXV-ARIC] reported outstanding assay results of 20 g/t gold over 29 metres from follow-up drilling to the previously reported 45.7 g/t gold over 32 m in hole OEDD-83 at the Odienne project, Côte d’Ivoire.
Highlights: 20 g/t gold over 29 metres, 580 gram metres gold from 149 metres down hole in OEDD-88, including 39.5 g/t gold over 8 metres from 149 metres down hole.
OEDD-88’s mineralization is well distributed across the reported intersection without any significant nugget effect. Mineralization is 50 metres SSW (south-southwest) of previously reported 46 g/t gold over 32 metres in OEDD-83.
Drilling confirms these breccia zones are linked to OEDD-83 mineralization, indicating potential for increased high-grade gold volume with further drilling.
Three holes of the first five holes reported from Charger have intercepted the target breccia zone, which also included 70 m at 1.2 g/t gold from 143 metres in OEDD-84; 21 metres at 1.7 g/t Au from 177 metres and 10 metres at 7.8 g/t Au from 202 m in OEDD-85.
Andrew Chubb, CEO, commented: “Follow-up drilling at Charger has confirmed continuity of outstanding high-grade breccia mineralization at Charger. Three of the five holes drilled testing the breccia’s western extensions have successfully demonstrated a west by southwest extension and plunge to the mineralization.”
Like OEDD-83, mineralization in OEDD-88 consistently has high-grade throughout the reported interval. True widths of the reported mineralization are interpred to be approximately 70 per cent of the down hole interval. The company looks forward to recommencing drilling after the wet season abates with a further 12,000 to 15,000 metres planned for 2024.
Nine holes for 2,953 metres were drilled at Charger in two phases for this campaign, with five holes for 1,295 metres reported in this release and a further four holes for 1,659 metres completed at the end of the drilling program.
The initial five holes were targeted around the previously reported OEDD-83 intercept. Holes drilled to the west (OEDD-84, OEDD-85 and OEDD-88) all intercepted target breccia, while the step east (OEDD-86) and the step back (OEDD-87) intercepted peripheral alteration similar to other holes drilled close to the breccia zone, suggesting the breccia mineralization plunges toward the west and south from OEDD-83.
This drilling has also confirmed that the breccia zones intercepted in previous drilling can be connected to the OEDD-83 mineralization demonstrating the potential to increase in volume of the high-grade gold mineralization with further drilling.
The Charger zone is a discovery that has delivered multiple high-grade intercepts in previous drilling which includes the following high-grade intercepts in the breccia to the south of that intercepted in OEDD-83 and OEDD-88.
OEDD-83: 57 metres at 26 g/t from 164 m down hole, including 45.7 g/t gold over 32 metres from 165 metres down hole. OERC-132: 32 m at 3.0 g/t Au from 74 m down hole, including four m at 12.4 g/t Au from 78 m down hole.
OEDD-45 (step back from OERC 132) contains three high-grade intervals within a 65 m wide zone of mineralization which included 12 m at 4.9 g/t gold from 89 m down hole; 13 m at 1.3 g/t gold from 114 m down hole and 21 m at 1.3 g/t gold from 133 m down hole.
Hole OEDD-53 (50 m step back from OEDD-45): 32 m at 1.5 g/t Au from 215 m down hole, including three m at 5.2 g/t Au from 77 m.
The second phase of the drilling consisted of four holes, with three of these holes testing a demagnetization model where the ground magnetics completed over the prospect were processed to highlight a low magnetic response. Results from these holes and a complete set of assay results from BBM Zone will be released upon their receipt from the lab.
Awale currently undertakes exploration activities in the underexplored parts of Ivory Coast. Awale’s exploration success to date has culminated in a fully financed earn-in joint venture with Newmont covering one permit and one application (the Odienne project JV) within the greater Odienne copper-gold project in the northwest of Ivory Coast, where three significant gold and gold-copper-silver-molybdenum discoveries have been made.
The Sceptre East and Charger discoveries have significant scope for growth with future discovery and resource development drilling. The 400 square km of granted tenure and 400 km2 under application remain underexplored and offer significant upside potential.
The Odienne project JV covers one permit and one application within the greater Odienne gold-copper project, the greater project consists of a further four applications and on option agreement which in the northwest of Ivory Coast, and is subject to an earn-in agreement with Newmont Ventures Ltd. through which Newmont retains the option to earn-in to a minimum of 65% interest, from Awale, in the Odienne project JV in return for US$15 million of exploration expenditures. Newmont is funding the exploration program, and Awale is managing the Odienne project JV in the initial three-year phase.