Awale Resources conducting 3,000-metre drill program at Odienne, Cote d’Ivoire
Awale Resources Ltd. [TSXV-ARIC] has commenced a 3,000-metre diamond drilling program over the Charger prospect at the Odienne project, Cote d’Ivoire. The drilling is planned to follow up to the recently announced 26 g/t gold over 57 metres, including 45.7 g/t gold over 32 metres from 165 metres downhole in OEDD-83 at the Charger Prospect. Additionally, a 4000m drill program for the BBM discovery will commence with a second diamond drill rig in the ensuing weeks.
Highlights: The new drill program is now underway at Charger following up on Awale’s recent drill intercept of 26 g/t gold over 57 metres, including 45.7 g/t gold over 32 metres from 165 metres downhole A second rig will soon commence drilling at the BBM Prospect to follow up on its 75 metres at 2.4 g/t gold equivalent intercept. Drilling is fully funded by Newmont
Andrew Chubb, CEO of Awale Resources, stated, “With our two recent discoveries on the Charger and BBM prospects, we thought it’s critical to resume drilling without delay and follow up on these exciting discoveries. This next phase of drilling marks another step in Awale’s endeavour open a new mining and exploration district in Cote d’Ivoire. The recent results from BBM and Charger underscores our projects potential. We have never doubted the potential of the Odienne district we are excited to launch into this new phase of drilling.”
Awale views Odienne as highly prospective for large-scale Iron Oxide Copper Gold (IOCG) mineral systems. Awale’s exploration approach has now delivered significant discoveries that also include the Empire and Sceptre East with multiple untested pipeline targets that highlight the district scale potential of the project.
The Charger Prospect is a discovery that has delivered multiple high grade significant intercepts in previous drilling which includes the following high-grade intercepts in the breccia pipe to the south of that intercepted in OEDD-83. OERC-132: 32 metres at 3.0 g/t gold from 74m downhole, including 4m at 12.4 g/t Au from 78m downhole. OEDD-45 (step back from OERC 132) contains 3 high grade intervals within a 65 m wide zone of mineralization which included 12 m at 4.9 g/t gold from 89m downhole, 13m at 1.3 g/t gold from 114m downhole and 21m at 1.3 g/t gold from 133m downhole. Hole OEDD-53 (50m step back from OEDD-45): 32m at 1.5 g/t Au from 215m downhole, including 3m at 5.2 g/t Au from 77m.
Four holes for 699 metres were drilled at Charger during this phase, three of these testing a new 3D geologic framework for mineralization at the prospect. Three holes (OEDD-78, OEDD-79 and OEDD-82) did not intercept significant mineralization. However, hole OEDD-83 was specifically targeted to drill through potential mineralization associated with the newly recognized NE structural control. This intercept is 60 metres north of the two previously intercepted breccia pipes, and is under the discovery hole (OERC-89) at Charger.
The Odienne Project JV covers one permit and one application within the greater Odienne Copper-Gold Project in the Northwest of Cote d’Ivoire, and is subject to an earn-in agreement with Newmont Ventures Limited 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.
The Odienne Project JV is located within Awale’s greater Odienne Copper-Gold Project which consists of 2,462 km2 of tenure in the Northwest of Cote d’Ivoire. The Newmont JV consists of 400 km2 of granted tenure and 400 km2 under application, or approximately 1/3 of Awale’s total holding in the district. The project has multiple pipeline prospects that have similar geochemical fingerprints to Iron Oxide Copper Gold (IOCG) and intrusive related mineral systems that offers significant potential for district scale discoveries.