Awale Resources drills 3.3 g/t AuEq over 35 metres at Odienne, Ivory Coast
Awale Resources Ltd. [TSXV-ARIC] released partial results of a follow-up drilling program from the BBM zone at the Odienne project in Ivory Coast, Africa.
Highlights: 35 metres of 3.3 g/t gold equivalent (AuEq) and 17 metres of 2.4 g/t AuEq in OEDD-89; 52 metres of 2.0 auEq in OEDD-90; 32 metres of 2.1 AuEq in OEDD-92. True widths are estimated to be 70% of the downhole widths.
BBM’s strike length expanded from around 400 metres to over 600 metres, with mineralization defined from surface to 250 metres depth, with true widths of up to 50 metres.
Assay results are pending for six more holes from this drill program from both BBM and Charger. Awale will start a new 8,000-metre drill program, fully financed by Newmont, in Q4 2024.
“The high-grade core of BBM has now expanded to over 600 metres, with mineralization remaining open in multiple directions and showing signs of increasing grade at depth. BBM remains open, with a style of mineralization that allows for relatively straightforward growth and delineation of an open-pit resource. These results emphasize this discovery’s potential scale and significance, and we are eager to expand BBM further as we continue to define this target, with additional drilling beginning shortly,” commented Andrew Chubb, CEO of Awale Resources.
All 24 holes, totalling over 6,808 metres, at BBM have intercepted mineralization and were drilled in three phases, with pending results for two holes (OEDD-97 and OEDD-98). Drilling was completed on 13 sections with an average spacing of 100 metres between sections and up to 500 metres step-outs to the southeast. Interpretation of the drilling completed suggests that mineralization at BBM is steeply dipping (70 degrees to 80 degrees) with a gentle plunge (45 degrees to 55 degrees) toward the northwest.
Drilling has also confirmed grade continuity of the mineralization as well as tested for new parallel shoots along the 8 km of open strike. Follow-up drilling outlined a core zone of robust high-grade mineralization over 600 metres and a vertical depth of 250 metres. The two deeper holes with results pending have also intercepted target geology and alteration with sulphide mineralization.
Extending the higher-grade core to over 600 metres demonstrates the robust nature of the mineralization and represents a substantial increase in the BBM zone’s definition and potential. Further exploration drilling is expected to enhance the understanding of the target in this promising new region of Ivory Coast. After the wet season, the company plans to advance the BBM target with an 8,000-metre air-core drill program targeting extensions and satellites and reverse circulation drilling in shallower areas within the discovery zone.
The program, which consisted of 3,627 metres drilled across 10 diamond holes and two diamond tails (hole extensions from previous drilling, targeting footwall mineralization), has significantly extended the known high-grade core of the zone to over 600 metres. It also confirmed the potential for further expansion along strike and down dip/plunge as well as within the footwall of the main zone. These results indicate increasing grades at depth and confirm that mineralization remains open along strike and down-plunge within the 1.3-km zone. Results are pending for diamond drill holes OEDD-97 and OEDD-98, the two deepest holes for the program, which have traversed target mineralization from approximately 440 metres downhole in OEDD-97 and 430 metres downhole in OEDD-98.
A full table of significant intercepts for the program is provided in the original press release.
Awale currently undertakes exploration activities in the underexplored regions of Ivory Coast. Awale’s exploration success to date has culminated in a fully financed earn-in joint venture with Newmont Ventures Ltd., covering one permit and one application, within the greater Odienne copper-gold project in the northwest of Ivory Coast, where three gold, gold-copper and gold-copper-silver-molybdenum discoveries have been made. The Sceptre East and Charger discoveries offer significant potential for growth with future discovery and resource development drilling. The Odienne project joint venture has multiple pipeline prospects with similar geochemical signatures to iron oxide copper/gold (IOCG) and intrusive-related mineral systems. The 400 km2 of granted tenure and 400 km2 under application remain underexplored and present substantial upside potential.
The Odienne project joint venture covers one permit and one application within the greater Odienne gold-copper project and is subject to an earn-in agreement with Newmont. Through this agreement, Newmont retains the option to earn a minimum 65% interest from Awale in the Odienne project joint venture in exchange for US$15-million in exploration expenditures. Newmont is financing the exploration program while Awale manages the Odienne project joint venture during the initial three-year phase.