VANCOUVER, April 17, 2018 /CNW/ - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC) is pleased to announce commencement of diamond drilling and auger drilling programs at its flagship Bondoukou project (Figure 1).
A 2,000 metres 10-hole diamond drilling program has commenced at the Fako and Casino Prospects (Figure 2). This program is designed to enhance our understanding of the geometry and strike/ down-dip extent of the multiple gold mineralized zones identified. These zones were defined from the Company's maiden scout drill program at the Fako Prospect (see releases February 2, 2018 and March 1, 2018). At the Casino Prospect the objective is to test the geometry and plunge of high grade mineralization intercepted and observed.
Additional to this two Toyota-mounted and two man-portable auger rigs have been mobilized to complete approximately 16,000 metres of auger drilling over the Awari Shear (Figure 3) covering approximately 25 strike kilometres of previously untested NW extents of the shear zone. The program also includes infill and extension drilling at the Fako Prospects.
Both drill programs are designed to increase geological and geochemical understanding of these prospects before embarking on a more extensive RC drilling program in late Q3 to early Q4 following the wet season which is due to commence soon.
View attached figures: http://www.awaleresources.com/_resources/maps/Commencent_of_drilling_April_2018.pdf
Glen Parsons CEO commented today:
"Momentum is building nicely for the Company at the Bondoukou Project. This recommencement of drilling allows us to continue to develop the understanding of our known mineralized zones at the Fako Prospect along the Awari Shear, and the high grade gold Casino Prospect further to the North.
Furthermore, the Auger program of some 16,000m, including infill and extension drilling along the entire Awari Shear zone, is designed to both identify new target areas over the untested strike of some 25km, and provide additional geochemistry to complement the geological understanding from diamond drilling at the Fako prospects. This work will culminate in the design of follow up programs planned to commence in late Q3/Q4 2018, after cessation of the impending monsoon season.
We will keep the market abreast of the program as it develops and we look forward to the anticipated results."
Background on Bondoukou
The Bondoukou Project consists of three permits covering approximately 1,200 square kilometres in the north east of Côte d'Ivoire. Awalé has been systematically exploring these permits, and the planned auger and diamond drilling are follow up to a recent 57-hole 4,743 metres scout drill program (see releases February 2, 2018 and March 1, 2018). Highlights from this program included:
- BERC0001 – 3 metres at 5.02 g/t Au from 31m downhole
- BERC0005 - 5 metres at 1.46 g/t Au (including 1m at 3.24 g/t Au) from 78m downhole
- BERC0008 - 20 metres at 0.96 g/t Au (including 3m at 1.98 g/t, 4m at 1.62 g/t and 2m at 1.6 g/t Au) from 60m downhole (hole ends in mineralisation)
- BERC0009 – 7 metres at 1.2 g/t tonne Au (including 1 metre at 5.6 g/t Au) from 16m downhole
- BERC0019 (Fako) – 18 metres at 1.0 grams/tonne ('g/t') gold ('Au') from 1m downhole.
- BERC0050 (Casino) - 6 metres at 5.19 g/t Au (including 1m at 25.4 g/t Au) from 7m downhole.
- BERC0033 (Casino) – 2 metres at 6.07 g/t tonne Au (including 1 metre at 11.0 g/t Au) from 90m downhole
- BERC0040 (Casino) – 2 metres at 1.94 g/t Au from 42m downhole
- BERC0049 (Casino) - 2 metres at 2.39 g/t Au from 26m downhole
- BERC0022 – 2 metres at 4.69 g/t Au from 42m downhole
- BERC0023 – 1 metres at 2.25 g/t Au from 56m downhole
This scout drilling confirmed multiple mineralised zones intercepted along 6 strike kilometres within a large alteration system at the Fako prospects, and relogging of the drilling has recognised a zoned alteration system from distal chlorite epidote alteration through fuchsite alteration to a silica/sericite core, this zoned alteration is accompanied by an increase in shear intensity, and sulphide occurrence (pyrite +/- chalcopyrite). Preferred host rocks are intermediate intrusive rocks within a suite of mafic to ultramafic volcanics.
Drilling Casino has intercepted mineralisation both down dip and along strike from existing orpaillage where rock chip sampling has returned results of up to 589 grams per tonne gold. The Casino Prospect is under shallow cover and a 700m long orpaillage zone defines a NE-SW structural corridor which contains metasedimentary and volcanosedimentary rocks in contact with a granodiorite intrusive. Alteration assemblages are dominated by a widespread and pervasive chlorite alteration, with more intensely silica/sericite altered zones along the intrusive contact and some discrete zones along shear planes in the metasediments.
ON BEHALF OF THE BOARD
AWALE RESOURCES LIMITED.
Glen Parsons, President and CEO
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 a Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic Geologists (SEG). Mr Chubb has 17 years of experience in international minerals exploration and mining project evaluation.
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.
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
SOURCE Awale Resources
For further information: you are invited to visit the Awalé Resources Limited website at www.awaleresources.com, or contact Karen Davies, Head of Investor Relations at Tel: 604.314.6270