Awalé Hits 45.7 g/t Gold over 32m at the Odienné Project
Awalé Hits 45.7 g/t Gold over 32m at the Odienné Project
HIGHLIGHTS
• 26 g/t gold over 57m, 1487 gram meters gold from 164m downhole in OEDD-83
➢ Including 45.7 g/t gold over 32m @ from 165m downhole
• Mineralization is consistently high grade throughout the reported interval, with true width estimated
at 70% of the interval reported.
• One of the highest-grade gold intersections in Africa in decades
• A follow-up drill program is scheduled to begin in April, with 25,000 meters planned for 2024
Vancouver, BC, March 25, 2024, Awalé Resources Limited (ARIC -TSX.V) (the "Company" or "Awalé") is delighted
to report outstanding assay results at the Odienné Project of 45.7 g/t gold over 32m from a new breccia pipe at
the Charger target.
Andrew Chubb CEO of Awale Resources commented today,
"This drill hole is absolutely spectacular. I have been looking at gold projects for the last 20 years and have
never seen anything like this. Odienné has produced very high-grade mineralization since we started drilling,
though we always felt that some special things would come as we continued our work . The harder we press
at Odienné, the more it gives back, and we've only just scratched the surface,"
Mineralization is consistently high grade throughout the reported interval. Table 1 shows each 1 -metre assay
within the interval, revealing this intercept's consistent and robust nature. The core is dusted with very fine gold
throughout, along with the +1mm gold grains often seen in previous Charger drilling.
LINK TO Charger’s Drill Core Photos on OEDD-83
Table 1: Hole OEDD-83 meter sampling for the entire 32m at 45.7 g/t Au mineralization . No large nugget effect
carries the interval, just continuous high grade gold mineralization for 32 meters.
From To Gold g/t From To Gold g/t
165 166 6.9 181 182 35.5
166 167 12.3 182 183 25.0
167 168 127.0 183 184 26.2
168 169 137.6 184 185 8.9
169 170 171.9 185 186 17.9
170 171 283.8 186 187 5.4
171 172 59.0 187 188 5.1
172 173 67.1 188 189 4.8
173 174 98.9 189 190 7.0
174 175 68.4 190 191 11.2
175 176 34.0 191 192 9.1
176 177 38.8 192 193 8.2
177 178 47.4 193 194 3.7
178 179 66.7 194 195 1.0
179 180 24.1 195 196 5.5
180 181 39.0 196 197 6.0
Mr. Chubb continued,
"We look forward to continued drilling in 2024 with the drill rigs scheduled to re-start in April, representing
our first phase of the 25,000m planned for the year. This drilling will progress the Charger, BBM, and Sceptre
discoveries and will scout drill some prospective pipeline targets. Confidence is growing that Odienné has
the potential to be a world-class mine camp in Cote d'Ivoire."
About The Charger Zone
This new intercept opens Awale's original interpretation of broader mineralization where the breccia zones may
connect at depth (See Cross section in Figure 1 and Conceptual target Figure 2) which would rapidly increase the
volume of the high grade gold mineralization.
The Charger Zone is a discovery that has delivered multiple high grade significant intercepts in previous drilling
which includes the following high grade intercepts in the breccia pipe to the south of that intercepted in OEDD -
83 (see Company new releases dated March 29 2022, August 21 2023 and January 11 2024):
• OERC-132: 32m @ 3.0 g/t Au from 74m downhole.
o Including 4m @ 12.4 g/t Au from 78m downhole.
• OEDD-45 (step back from OE RC 132) contains 3 high grade intervals within a 65 m wide zone of
mineralization which included
o 12 m @ 4.9 g/t gold from 89m downhole,
o 13m at 1.3 g/t gold from 114m downhole and,
o And 21m @ 1.3 g/t gold from 133m downhole.
• Hole OEDD-53 (50m step back from OEDD-45): 32m @ 1.5g/t Au from 215m downhole
o Including 3m @ 5.2g/t Au from 77m.
4 holes for 699 m were drilled at Charger during this phase, three of these testing a new 3D geologic framework
for mineralization at the target . Three holes (OEDD -78, OEDD -79 and OEDD -82) did not intercept significant
mineralization. However, hole OEDD -83 was specifically targeted to drill through potential mineralization
associated with the newly recognized NE structural control. This intercept is 60 m north of the 2 previously
intercepted breccia pipes, and is under the discovery hole at Charger, OERC-89.”
Figure 1: Charger Cross Section OEDD-83.
Figure 2: Conceptual sketch (not to scale) for the charger target showing approximate drill trace of
current drilling as well as a deeper conceptual target where pipes intercepted in current drilling may
coalesce.
The Awalé-Newmont JV – ‘Odienné Project JV’
The Odienné Project JV covers one permit and one application within the greater Odienné Gold-Copper Project,
the greater project consists of a further 4 applications and on option agreement which in the Northwest of Côte
d'Ivoire, and is subject to an earn -in agreement with Newmont Ventures Limited ("Newmont"); see Company
news release dated May 31 2022 through which Newmont retains the option to earn -in to a minimum of 65%
interest, from Awalé, in the Odienné Project JV in return for USD 15 million of exploration expenditures. Newmont
is funding the exploration program and Awalé is managing the Odienné Project JV in the initial three-year phase.
About Awalé Resources
Awalé is a diligent and systematic mineral exploration Company focused on discovering large high-grade gold and
copper-gold deposits. The Company currently undertakes exploration activities in the underexplored parts of Côte
d'Ivoire. Awalé's exploration success to date has culminated in a fully funded earn-in Joint Venture with Newmont
covering one permit and one application (the "Odienné Project JV") within the greater Odienné Copper -Gold
Project in the Northwest of Côte d'Ivoire, where three significant gold and gold -copper-silver-molybdenum
discoveries have been made. The Sceptre East and Charger discoveries have significant scope for growth with
future discovery and resource development drilling. The project has multiple pipeline prospects with similar
geochemical fingerprints to Iron Oxide Copper Gold ("IOCG") and intrusive related mineral systems. The 400km2
of granted tenure and 400km2 under application remain underexplored and offer significant upside potential. The
Odienné Project JV forms a solid foundation for the Company to continue exploring in a pro -mining jurisdiction
that provides significant potential for district-scale discoveries.
Quality Control and Assurance
Analytical work for drill samples is being carried out at the independent Intertek Laboratories in Ghana and
Australia, an ISO 17025 (2017) Certified Laboratory. Samples are stored at the Company's field camps and put into
sealed bags until collected by Intertek from the Company's secure Odienné office and transported by Intertek to
their preparation laboratory in Yamoussoukro, Cote 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 Australia where the sample is
analysed by 52 element ICP/MS with an Aqua Regia digest. Blanks, duplicates, and certified reference material
(standards) are being used to monitor laboratory performance during the analysis. All fire assay samples returning
greater than 5 g/t gold are routinely Screen Fire Assayed, in this special case lower than 5g samples up and down
hole from the high grade interval were also subject to Screen Fire Assays.
Mineralized Interval Calculations
Significant intervals reported in this news release are calculated downhole length weighted intercepts. For the
Charger target initial mineralized are calculated at a 0.2 g/t trigger and include internal waste of 3m for delineation
mineralized zones. Included intervals are at 0.5, 1g/t and 5g/t trigger values with 3m of internal waste only.
Abbreviations Used in This Release
Ag Silver
Au Gold
Au Eq. Gold Equivalent
Cu Copper
Cu Eq. Copper Equivalent
g/t grams per tonne
km Kilometers
m Meters
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 Geologists (SEG). Mr Chubb has over
20 years of experience in international mineral exploration and mining project evaluation.
ON BEHALF OF THE BOARD
AWALE RESOURCES LIMITED
"Andrew Chubb"
Andrew Chubb, CEO
For additional information, you are invited to visit the Awalé Resources Limited website at
www.awaleresources.com, or contact Andrew Chubb CEO (+356) 99139117, [email protected].
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 stateme nts 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 Cote 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 su ch information. The Company disclaims any intention or
obligation to update or revise any forward -looking information, other than as required by applicable securities
laws.
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