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.
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