Awalé Completes Geophysics and Commences Drilling at the 100%-Owned Fremen Target
Awalé Completes Geophysics and
Commences Drilling at the 100%-Owned
Fremen Target
HIGHLIGHTS
Completed a 50-line-kilometre IP geophysics survey covering over 5km of the 100%-
owned Fremen target.
IP survey identifies chargeable/resistive anomalies that align with a 3.5km-long gold
footprint.
Commencing discovery drilling with a 2,000m scout reverse circulation drill program.
The IP survey is ongoing along the BBM trend.
Exploration efforts to date had primarily focused on just 400 km² of the expansive 2,489
km² Odienné project land package. With regional-scale exploration now expanding
beyond this initial area, significant untapped potential remains within the 100%-owned
Awalé permit package.
Vancouver, British Columbia--(Newsfile Corp. - February 11, 2025) -
Awalé Resources Limited
(TSXV: ARIC)
("
Awalé
" or the "
Company
") is pleased to announce the completion of an Induced
Polarization ("IP") geophysics survey and the commencement of a discovery drilling program at its
100%-owned Fremen target. Fremen is located within the Company's Sienso permit, just 4km along
strike from the BBM discovery at the Odienné project ("
Odienné
" or the "
Project
"), Côte d'Ivoire.
Fremen consists of a newly uncovered and open 3.5km-long gold-in-soil and termitaria footprint (>37
ppb Au), with a peak value of 1.3 g/t Au (
see October 22, 2024 news release
).
The Company has now commenced a 2,000m reverse circulation ("RC") drill program over high order
geochemistry footprints which are coincident with chargeable/resistive IP anomalies. Results from this
drilling are expected in April.
"Initiating discovery drilling at our 100%-owned Fremen target is a significant milestone for Awalé. This
scout drill program marks the start of our broader 2025 regional exploration, where our mission is to
unlock the true potential of the Odienné project. The Project represents an emerging gold-copper district,
where Awalé was the first to recognize its potential. As a first mover, the Company holds a significant
2,489 km² land package.
The IP survey has shown chargeable/resistive anomalies that align with our gold footprint, which runs
directly along strike from the BBM discovery and we are eager to see what this initial scout drilling
reveals. With a proven exploration strategy, a highly skilled technical team, and a strong balance sheet,
we're entering an exciting new chapter on our 100% properties-one that we believe will create significant
value for our shareholders. We look forward to sharing our progress as drilling advances," commented
Andrew Chubb, CEO of Awalé Resources.
View Video of CEO Andrew Chubb Discussing the IP Results and Commencement of Drilling
Figure 1: Induced Polarization 'Chargeability' image with the BBM and Fremen gold footprint
superimposed in red. Planned drill lines for the Fremen target are shown as black lines. Top
right in an inset of the Fremen target.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/240358_8b53c0a5e436fa47_002full.jpg
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-
grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored
regions of Côte d'Ivoire, where the Company is focused on the Odienné Copper-Gold Project
("
Odienné
" or the "
Project
"), covering 2,489 km
2
across seven permits. This includes 796 km
2
in two
permits held under the Awalé-Newmont Joint Venture ("OJV"). Awalé manages all exploration activities
over the OJV, with funding provided by Newmont Joint Ventures Limited ("
Newmont
").
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum discoveries within the
OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million
capital raise in April 2024.
The Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to
Iron Oxide Copper Gold (
IOCG
) and intrusive-related mineral systems with substantial upside potential.
The Company benefits from a skilled and well-seasoned technical team that allows it to continue
exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Quality Control and Assurance
Analytical work for geochemistry samples is being carried out at the independent ALS Laboratories in
Ghana and Ireland, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the
Company's field camps and put into sealed bags until collected by ALS from the Company's secure
Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte
d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to
greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one
stream to Intertek Ghana for fire assay and a second to Ireland where the sample is analyzed by 52
element ICP/MS with a 4-Acid digest. Blanks, duplicates, and certified reference material (standards)
are being used to monitor laboratory performance during the analysis.
Abbreviations Used in this Release
Au
Gold
g/t
Grams per tonne
IP
Induced Polarization
km
Kilometres
m
Metres
ppb
Parts per billion
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 Executive Officer and holds an Economic Geology degree, is a
Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic
Geoscientists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and
mining project evaluation.
AWALÉ Resources Limited
On behalf of the Board of Directors
"Andrew Chubb"
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
The Company's public documents may be accessed at
www.sedarplus.com
. For further information on
the Company, please visit our website at
www.awaleresources.com
.
Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities
laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by
words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions,
or are those, which, by their nature, refer to future events. All statements that are not statements of
historical fact are forward-looking statements. Forward-looking statements in this press release
include but are not limited to statements regarding, the Company's presence in Côte d'Ivoire and
ability to achieve results, creation of value for Company shareholders, achievements under the
Newmont JV, works on other properties, planned drilling, commencement of operations. Although the
Company believes any forward-looking statements in this press release are reasonable, it can give no
assurance that the expectations and assumptions in such statements will prove to be correct. Factors
that could cause actual results to differ materially from such forward-looking information include, but
are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices,
delays in obtaining required regulatory or governmental approvals, and other risks involved in the
mineral exploration and development industry, including those risks set out in the Company's
management's discussion and analysis as filed under the Company's profile at
www.sedarplus.ca
.
Forward-looking information in this news release is based on the opinions and assumptions of
management considered reasonable as of the date hereof, including that all necessary governmental
and regulatory approvals will be received as and when expected. Although the Company believes that
the assumptions and factors used in preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such information. The Company disclaims any
intention or obligation to update or revise any forward-looking information, other than as required by
applicable securities laws.
Neither the 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/240358