19:38:11 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



West African Resources Ltd
Symbol WAF
Shares Issued 408,873,253
Close 2016-07-27 C$ 0.24
Market Cap C$ 98,129,581
Recent Sedar Documents

West African drills 41 m of 2.22 g/t Au at Tanlouka

2016-07-27 22:28 ET - News Release

Mr. Richard Hyde reports

WEST AFRICAN HITS 41M AT 2.2 G/T AU INCLUDING 8M AT 5.7 G/T AU AT M5

West African Resources Ltd. has released further high-grade reverse circulation results from the M1 prospect, at its 100-per-cent-owned Tanlouka gold project, Burkina Faso.

Highlights:

  • Strong results in M5 resource definition RC drilling: 41 metres at 2.2 grams per tonne gold, including eight m at 5.7 g/t Au;
  • Step-out drilling at M1 North intercepts eight m at 2.71 g/t Au;
  • New results not included in third quarter resource estimate, and further resource update planned fourth quarter;
  • Feasibility study commenced, financed by $12.5-million oversubscribed institutional capital raising.

Managing director Richard Hyde commented: "Step-out drilling at M1 North has intercepted mineralization 50 m north of the current resource area, returning eight m at 2.71 g/t Au.

"Strong results have also been returned from resource definition drilling at M5, including 41 m at 2.2 g/t Au, including eight m at 5.7 g/t Au.

"Drilling is currently focusing on open-pittable mineralization at M1 and M5. Resource estimation studies for M1, M3 and M5 are in progress and will be released later in Q3 2016. A further resource update incorporating new results will be completed in Q4 2016."

M5 resource definition drilling

Resource definition RC drilling is under way at M5. A drill program of 3,000 metres is being completed to upgrade mineralization from the inferred to the indicated category for inclusion in CIL open-pit mining studies in third quarter/fourth quarter 2016. Previous drilling by West African Resources at M5 in 2014 to 2015 had focused on the predominantly oxide mineralization. None of these results have been included in the current resource estimation studies planned for release in third quarter 2016 and will be included in a fourth quarter resource update 2016. Significant results include:

  • TAN16-RC189: 22 m at 1.15 g/t Au from 80 m, including five m at 4.12 g/t Au;
  • TAN16-RC193: 29 m at 1.60 g/t Au from 58 m, including four m at 9.38 g/t Au*;
  • TAN16-RC194: 15 m at 1.32 g/t Au from 19 m;
  • TAN16-RC196: 33 m at 1.54 g/t Au from 36 m, including 10 m at 2.88 g/t Au;
  • TAN16-RC198: 14 m at 0.98 g/t Au from 29 m;
  • TAN16-RC199: 56 m at 0.79 g/t Au from 73 m, including 12 m at 2.11 g/t Au;
  • TAN16-RC200: 41 m at 2.22 g/t Au from 84 m, including three m at 7.05 g/t Au and eight m at 5.68 g/t Au*;
  • TAN16-RC201: 55 m at 0.99 g/t Au from 81 m, including nine m at 2.7 g/t Au;
  • TAN16-RC202: 81 m at 1.12 g/t Au from 11 m, including eight m at 3.72 g/t Au*;
  • TAN16-RC203: 58 m at 0.80 g/t Au from 35 m, and 14 m at 1.02 g/t Au from 97 m*;
  • TAN16-RC204: 32 m at 0.76 g/t Au from 72 m;
  • TAN16-RC205: 41 m at 1.19 g/t Au from one m, including seven m at 1.78 g/t Au and four m at 3.04 g/t Au.

* Denotes ended in mineralization.

A number of RC drill holes have been stopped early due to groundwater ingress. These holes will be extended with diamond tails to ensure sample quality is satisfactory for fourth quarter 2016 resource estimation studies.

M1 open to the north

Step-out drilling to the northwest of the current resource area on Section NW300 has intercepted mineralization with TAN16-RC176 returning eight metres at 2.71 g/t Au from 60 metres in RC drilling. Step-out drilling on NW500 intercepted broad lower-grade mineralization, including nine m at 0.85 g/t Au from 17 m and seven m at 0.83 g/t Au from 32 m in TAN16-RC180, and 10 m at 0.54 g/t Au from four m in TAN16-RC181, indicating a fertile system open along strike at M1 North.

Recent diamond and RC drilling at M1 South has delivered extremely high-grade gold mineralization over 350 m at the southern end of the M1 trend. Recent high-grade results from M1 North have reinforced the potential of the broader project. On April 15, 2016, the company announced a heavily oversubscribed $12.5-million capital raising to finance drilling programs and a CIL feasibility study for the Tanlouka gold project, which will investigate the combination of high-grade gold mineralization from M1 with the predominantly oxide mineralization from M5. This study will leverage off the work completed during 2014 to 2015 for the heap-leach project.

    M1 SIGNIFICANT INTERCEPTS AT A 0.2-GRAM-PER-TONNE CUT-OFF

Hole ID                 From           To     Interval           Au 
                          (m)          (m)          (m)        (g/t)

TAN16-RC176               60           68            8         2.71
TAN16-RC180               17           26            9         0.85
TAN16-RC180               32           39            7         0.83
TAN16-RC180              105          127           22         0.37
TAN16-RC181                4           14           10         0.54
TAN16-RC181               64           74           10         0.51
TAN16-RC182               48           57            9         2.67
TAN16-RC184               74           80            6         1.44

   M5 SIGNIFICANT INTERCEPTS AT A 0.2-GRAM-PER-TONNE CUT-OFF

Hole ID              From           To     Interval           Au 
                       (m)          (m)          (m)        (g/t) 

TAN16-RC176            60           68            8         2.71
TAN16-RC189            80          102           22         1.15
TAN16-RC190            28           34            6         1.08
TAN16-RC190            87          103           16         0.59
TAN16-RC191            76           78            2         2.51
TAN16-RC192            70           78            8          0.7
TAN16-RC193            58           87           29          1.6
TAN16-RC194            19           34           15         1.32
TAN16-RC194            85          124           39         0.71
TAN16-RC195            48           70           22         0.85
TAN16-RC196            36           69           33         1.54
TAN16-RC197            73           81            8         0.63
TAN16-RC197           125          161           36         0.47
TAN16-RC198            29           43           14         0.98
TAN16-RC198            71          103           32         0.72
TAN16-RC198           106          114            8         0.74
TAN16-RC199            57           63            6         0.84
TAN16-RC199            73          129           56         0.79
TAN16-RC200            84          125           41         2.22
TAN16-RC201            57           65            8         0.65
TAN16-RC201            81          136           55         0.99
TAN16-RC202            11           92           81         1.12
TAN16-RC203            35           93           58          0.8
TAN16-RC203            97          111           14         1.02
TAN16-RC204            45           63           18         0.45
TAN16-RC204            72          104           32         0.76
TAN16-RC205             1           42           41         1.19
TAN16-RC205            46           62           16         0.57
TAN16-RC205            67           85           18         0.55
TAN16-RC205            88          105           17         0.47

              M5 SIGNIFICANT INTERCEPTS AT A 
                TWO-GRAM-PER-TONNE CUT-OFF

Hole ID             From          To    Interval          Au 
                      (m)         (m)         (m)       (g/t) 

TAN16-RC189           97         102           5        4.12
TAN16-RC193           81          85           4        9.38
TAN16-RC196           59          63           4        2.69
TAN16-RC196           66          68           2        6.59
TAN16-RC198           33          36           3        2.85
TAN16-RC199          114         117           3        4.52
TAN16-RC200           94          97           3        7.05
TAN16-RC200          107         109           2        3.41
TAN16-RC200          117         125           8        5.68
TAN16-RC201           92          97           5         3.3
TAN16-RC201          120         122           2        2.71
TAN16-RC202           47          51           4        2.51
TAN16-RC202           75          83           8        3.72
TAN16-RC203           80          83           3        2.34
TAN16-RC203          106         110           4         1.9
TAN16-RC205           31          35           4        2.36

All holes are reverse circulation and diamond holes.
All reported intersections from the current 2016 program 
are assayed at one-metre intervals.
Sample preparation and fire assay conducted by Bigs 
Ouagadougou. 
Assayed by 50-gram fire assay with AAS finish.
Mineralized intervals reported with a maximum of two 
metres of internal dilution of less than 0.20 gram per 
tonne and two g/t gold. No top cut applied.
Quality assurance/quality control protocol: For RC 
samples, the company inserts one blank, one standard 
and one duplicate for every 17 samples (three QA/QC 
within every 20 samples).

Competent persons and qualified persons statement

Information in this announcement that relates to exploration results, exploration targets or mineral resources is based on information compiled by Mr. Hyde, a director, who is a member of the Australian Institute of Mining and Metallurgy and Australian Institute of Geoscientists. Mr. Hyde has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the 2012 edition of the Australasian code for reporting of exploration results, mineral resources and ore reserves (the Joint Ore Reserves Committee code) and a qualified person under National Instrument 43-101. Mr. Hyde consents to the inclusion in this announcement of the statements based on his information in the form and context in which they appear.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.