VANCOUVER, BC, July 20, 2021 /CNW/ - Awalé Resources
Limited ("Awalé" or the "Company") (TSXV:
ARIC) is pleased to report that assay results have now been
received from 4381m of scout drilling
at the Samanda East and the southernmost 4 targets of the Kodio
Trend at the Bondoukou project (Figures 1 and 2). In addition to
previous drilling at Fako, the Company has now tested just 15% of
the known 60+km cumulative mineralized strike length for the
discovery of gold deposits at the Bondoukou project.
Highlights from the Bondoukou Program:
- At Samanda East, 8 drillholes for 585m were completed over the >300ppb core of a
1.5 km long >20ppb ppb gold in soil anomaly (see Company News
Release dated June 9 2020). The scout
program was designed and intercepted gold mineralization along a
NNE Structural trend (Figures 3, 4 and 5). The following
encouraging results for follow up returned:
BNRC0002
-
|
10m @ 0.6 grams/tonne
("g/t") gold ("Au") from surface, including 2m @ 2.3 grams/tonne
("g/t") gold ("Au") from 8m downhole
|
|
|
BNRC0007
-
|
10m @ 0.6 grams/tonne
("g/t") gold ("Au") from surface, including 2m @ 2.3 grams/tonne
("g/t") gold ("Au") from 8m downhole
|
At Kodio 51 holes for 3,796m were
drilled over the 4 southernmost targets on the >15km long Kodio
gold in auger geochemistry trend. Low grade mineralization
was intercepted over all 4 targets and confirm near continuous
mineralization along this major north/south structure which can be
followed over the Company's entire permit area (Figure 6).
LINK VIEW ATTACHED FIGURES:
http://www.bmcms1.com/staging/awaleresources.com/_resources/maps/Figures-Bondoukou-Drilling-Final.pdf
CEO Glen Parsons commented
today:
"We are encouraged by results at Samanda where further follow
up is planned for both Samanda East and West in Q4. Furthermore,
the confirmation that the north/south Kodio structure is
mineralized by fluid flow allows us to continue to assess our
further multiple defined targets for follow up. Remember, we are
sitting on over 80km of this mineralized trend which continues over
our 3 licences. We have only drill tested a mere 8 km of this total
trend by wide spaced drilling. Therefore, we continue our
thorough exploration approach and refine our targets in Q4 readying
for the next phase of testing and discovery.
The Bondoukou exploration continues appropriately alongside
our brownfields and new discovery focus at the Odienné Project. The
Odienné Empire Main discovery is an exciting high grade focus where
we are looking to build ounces on the locked in foundation of the
discovery. This is now complemented by the unique and new Charger
Prospect which is displaying a new form of alteration system where
gold is hosted. Assays are pending and we wait in anticipation and
will update the market accordingly."
Background to the drilling results:
Mineralization at Samanda East is related to a NNE trending
shear zone which exploits the contact between basalts to the west
and a package of intermediate volcanic and-sedimentary rocks to the
east. This sheared contact has been intruded by a granodiorite
which has acted as a brittle host to mineralization. Moving forward
the company will define the margins of the intrusion and target
'shadow zones' for high grade and broader mineralization.
Mineralization intercepted in these holes is traceable over
200m and is open in all directions.
Alteration in and peripheral to mineralization consists of
silica/sericite and carbonate alteration with up to 3% sulphide
(Figures 3, 4 and 5).
Follow up programs will include trenching and subsequently
further drilling are scheduled to commence after the current wet
season has passed in Q4.
At Kodio 51 holes for 3,796m were
drilled over 4 targets, representing just 4km of the 15km gold in
auger geochemistry trend. At all 4 prospects, the drilling has
identified low grade mineralization associated with silica,
sericite +/- fuchsite alteration and sulphides. Each of these
alteration zones are spatially associated with strong deformation
or shearing that are interpreted to be fluid pathways. The
alteration deformation observed in drilling matched expectations
from mapping and high-grade samples selective rock chip sampling
from artisanal workings in the area (9.85g/t Au from quartz veining
in silicified shales and 7.03g/t Au from fractured, brecciated
quartz vein with silica hematite infill).
The Kodio trend contains multiple gold targets, the company will
continue with its systematic exploration approach continuing to
refine and test targets to unlock the potential of this and other
anomalous trends withing the Bondoukou system.
Table of Significant Intercepts
Samanda East
Kodio
Intercepts calculated using a 0.2g/t Au trigger including
2m waste
*Denotes 2m composite sample
Quality Control and Assurance
Analytical work for drill core and RC percussion samples is
being carried out at the independent Intertek Laboratories Ghana
Ltd. an ISO 17025 Certified Laboratory. Samples are stored at the
company's field camps and put into sealed bags; they are stored
securely until collected by Intertek for transportation to either
their preparation laboratory in Yamoussoukro, or direct to the analytical
laboratory in Tarkwa. Samples are logged in the tracking
system, weighed, dried and pulverized to better than 85%, passing a
75-micron screen, pulp samples are then shipped to
Ghana where a 50g charge is Fire
Assayed with an AAS finish. Blanks, duplicates and certified
reference material (standards) are being used to monitor laboratory
performance during the analysis.
ON BEHALF OF THE BOARD
AWALE RESOURCES
LIMITED.
"Glen
Parsons"
Glen
Parsons, President and CEO
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 Operating
Officer and holds an Economic Geology Degree with Honours, is a
Member of the Australian Institute of Geoscientists (AIG), and is a
Member of the Society of Economic Geologists (SEG). Mr Chubb has 18
years of experience in international minerals exploration and
mining project evaluation.
Forward-Looking Information
This news release contains
"forward-looking information" within the meaning of applicable
securities laws. Readers are cautioned not to place undue reliance
on forward-looking information. Actual results and developments may
differ materially from those contemplated by such information. The
statements in this news release are made as of the date hereof. The
Company undertakes no obligation to update forward-looking
information except as required by applicable law.
Cautionary Statement
NEITHER 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
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SOURCE Awale Resources