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West African Resources Ltd
Symbol WAF
Shares Issued 270,301,498
Close 2014-09-15 C$ 0.12
Market Cap C$ 32,436,180
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West African Res. drills two m of 28.17 g/t at Mankarga

2014-09-15 19:21 ET - News Release

Mr. Richard Hyde reports

WEST AFRICAN RESOURCES LIMITED: 2 M AT 28.17 GPT AU AND 1 M AT 16.82 GPT AU FROM 56 M

West African Resources Ltd. has released further high-grade gold results from sulphide diamond drilling at its Mankarga 5 deposit, Burkina Faso.

Managing director Richard Hyde commented: "A new high-grade gold zone has been located in the hangingwall of the main zone at Mankarga 5. This zone will significantly improve the grade of mineralization in the upcoming resource update. Column testwork is also progressing well, and we look forward to reporting further results in the near future."

Diamond drilling at the Mankarga 5 deposit has again demonstrated excellent grade continuity beneath the proposed heap leach starter pit. Resource definition drilling will improve grade and category in the resource update planned for the December quarter. Results from the continuing diamond drilling program targeting primary mineralization include:

  • TAN14-DD021: two metres at 28.17 grams per tonne gold from 56 m;
  • TAN14-DD021: 11 m at 3.30 g/t Au from 80 m;
  • Including three m at 4.27 g/t Au and one m at 16.82 g/t Au from 86 m.

High-grade mineralization in TAN14-DD021 on Section SW650 is downdip of eight metres at 13.41 grams per tonne gold from six m in TAC0214, and immediately adjacent to two m at 15.55 g/t Au from 56 m in TAN11-RC71. High-grade gold mineralization on SW650 is open at depth with TAN14-DD022 still in progress at a depth of 302.5 m, downdip of TAN11-RC-56, which returned 16 m at 5.23 g/t Au, including four m at 18.4 g/t Au.

Despite the current wet season, diamond drilling targeting higher grades at depth mineralization is continuing.

In February, West African acquired a second-hand 1.6-million-tonne-per-annum heap leach plant as part of its plan to fast-track development of Mankarga 5. In July, the company delivered positive results from a scoping study, which demonstrated a low-capital-cost, high-margin heap leach starter project.

The company is focused on near-term production with its immediate attention on the Mankarga 5 deposit and existing nearby gold prospects. The company aims to be a more-than-50,000-ounce-per-annum gold producer by the end of 2015 through a low-cost heap leach starter project.

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