Awale Resources drills 45.7 g/t gold over 32 metres at Odienne, Cote d’Ivoire

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Awale Resources Ltd. [TSXV-ARIC] released outstanding assay results at the Odienne project of 45.7 g/t gold over 32 metres from a new breccia pipe at the Charger target, Cote d’Ivoire.

Andrew Chubb, CEO, commented: “This drill hole is absolutely spectacular. I have been looking at gold projects for the last 20 years and have never seen anything like this. Odienne has produced very-high-grade mineralization since we started drilling, though we always felt that some special things would come as we continued our work. The harder we press at Odienne, the more it gives back, and we’ve only just scratched the surface.”

Chubb continued, “We look forward to continued drilling in 2024 with the drill rigs scheduled to re-start in April, representing our first phase of the 25,000 metres planned for the year. This drilling will progress the Charger, BBM, and Sceptre discoveries and will scout drill some prospective pipeline targets. Confidence is growing that Odienne has the potential to be a world-class mine camp in Cote d’Ivoire.”

Charger Zone: This new intercept opens Awale’s original interpretation of broader mineralization where the breccia zones may connect at depth which would rapidly increase the volume of the high-grade gold mineralization.

The Charger Zone 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: 32m at 3.0 g/t Au 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-metre wide zone of mineralization which included 12m 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 1.5g/t Au from 215m downhole, including 3m at 5.2g/t Au from 77m.

Four holes for 699 m were drilled at Charger during this phase, three of these testing a new 3D geologic framework for mineralization at the target. 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 m north of the 2 previously intercepted breccia pipes, and is under the discovery hole at Charger, OERC-89.”

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 Cote d’Ivoire, and is subject to an earn-in agreement with Newmont Ventures Limited. 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.

Awale currently undertakes exploration activities in the underexplored parts of Cote d’Ivoire. Awale’s exploration success to date has culminated in a fully funded earn-in Joint Venture with Newmont covering one permit and one application within the greater Odienne Copper-Gold Project in northwest Cote d’Ivoire, 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 project has multiple pipeline prospects with similar geochemical fingerprints 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 offer significant upside potential. The Odienne Project JV forms a solid foundation for the company to continue exploring in a pro-mining jurisdiction that provides significant potential for district-scale discoveries.

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