Awalé Commences 4000-Metre Diamond Drilling Program at the BBM and Charger Zones, Odienné JV Project
Awalé Commences 4000-Metre Diamond Drilling Program at the BBM and Charger Zones,
Odienné JV Project
HIGHLIGHTS
• Awalé has commenced a 4000m diamond drill program at the BBM and Charger Zones.
• BBM drilling to focus on both expanding and confirming the 600m mineralized core toward the
NW and SE.
• Charger drilling will test the new high-grade model for continuity and expansion.
• Drilling is fully funded by Newmont.
Vancouver, British Columbia, December 5, 2024 -- Awalé Resources Limited (TSXV: ARIC) (“Awalé” or the
“Company”) is pleased to announce the commencement of drilling at the BBM and Charger Zones within
the Odienné Joint Venture (“OJV”) in Côte d'Ivoire. The 4000-metre (“m”) diamond drilling program is the
final phase of 2024 and is fully funded by Newmont. Drilling is expected to continue into 2025, with both
diamond and reverse circulation drilling.
Highlighted results from the previous program included:
• 59m @ 14.7 grams per tonne (“g/t”) gold (“Au”) from 96m downhole in OEDD-100 at Charger (see
November 11, 2024 news release)
• 29m @ 20 g/t Au from 149m downhole in OEDD-88 at Charger (see July 31, 2024 news release)
• 35m @ 2.2 g/t Au, 0.48% copper (“Cu”), 567 part per million (“ppm”) molybdenum (“Mo”), and
1.9 g/t silver (“ Ag”) in OEDD -89 from 318m downhole at BBM (see September 9, 2024 news
release)
“This program is anticipated to build on the success of the most recent phase of drilling, where BBM
continues to demonstrate robust grade continuity and Charger delivers some of highest-grade intercepts
in West Africa over the past 12 months. Both these Zones are interpreted to have significant expansion
potential and drilling is expected to continue throughout the 2025 dry season. We anticipate other high
priority drill ready targets such as Lando, Empire, and the BBM satellites to come into play during the 2025
field season. In addition to the JV drill program, we aim to drill the first holes on our 100%-owned Fremen
target in Q1 2025 and commence exploration activities on our other 100%-owned permits. The Awalé
team is excited to move forward on what we believe will be another successful field season .” Andrew
Chubb, CEO of Awalé Resources commented today.
Three thousand metres (3000m) are planned to test the continuity of the BBM zone as well as expand the
600m defined panel to the northwest and southeast, with one thousand metres ( 1000m) allocated for
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Charger to test the new geology fold model where the broad high-grade intercepts are hosted within fold
hinges (see November 11, 2024 news release) and rapidly advance the volume potential of this target.
About the Charger Zone
The Charger Zone is one of four grassroots discoveries made by Awalé at Odienné. Charger is a discovery
that has delivered multiple high -grade results from drilling which includes the following high -grade
intercepts in a breccia to the south of that intercepted in OEDD-83 and OEDD-100 (see news releases from
March 29, 2023, August 21, 2023, March 25, 2024, July 31, 2024, and November 11, 2024):
• OEDD-83: 57m @ 26 g/t Au from 164m downhole
o Including 32m @ 45.7 g/t Au from 165m downhole
• OEDD-88: 29m @ 20 g/t Au from 149m downhole
o Including 8m @ 39.5 g/t Au from 149m downhole
• OEDD-84: 70m @ 1.2 g/t Au from 143m downhole
• OEDD-100: 59m @ 14.7 g/t Au from 140m downhole
• OEDD-85: 21m @ 1.7 g/t Au from 177m downhole and 10m @ 7.8 g/t Au from 202m
downhole
• 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 OERC 132) contains 3 high -grade intervals within a 65m wide
zone of mineralization which included
o 12m @ 4.9 g/t Au from 89m downhole,
o 13m @ 1.3 g/t Au from 114m downhole, and
o 21m @ 1.3 g/t Au from 133m downhole
• Hole OEDD-53 (50m step back from OEDD-45): 32m @ 1.5 g/t Au from 215m downhole
o Including 3m @ 5.2g/t Au from 77m downhole
The company has also determined the true width of the breccia between holes OEDD -83 and OEDD-100
to be over 30 metres, and the intercept in OEDD-88 being a further 25 metres away from OEDD-100. This
drilling has established a 200-metre corridor of breccia mineralization where high-grade mineralization is
thought to be controlled by folding and hosted in the hinge zone of these folds. Moreover, the Company
has gained a clearer understanding of the unique and complex characteristics of the Charger target,
presenting an opportunity to test the fold model within the current corridor as well as step -out and test
for other parallel zones.
About the BBM Zone
BBM is an Awalé grassroots discovery (see January 11, 2024 news release). Gold and copper mineralization
and alteration in the BBM system are controlled by a northwest striking shear zone that follows an
intrusive/sedimentary contact. This shear zone lies parallel to an interpreted major crustal boundary and
forms an 8-kilometre-long geochemical gold trend in termitaria and soil. The 6,808 metres of drilling in 28
holes completed to date have intercepted the target shear z one and covers only 2 kilometres of an 8-
kilometre trend. Awalé has continued to expand the potential of the BBM discovery with further
intersections along strike from the initial discovery holes. Results also show there is increasing grade with
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depth. The Company has completed 3 phases of drilling (see news releases from March 18, 2024 ,
September 9, 2024, and November 18, 2024).
Mineralization at BBM is steeply dipping (70 to 80 degrees) with a gentle plunge (45 to 55 degrees) toward
the northwest. Recent interpretation suggests this plunge is controlled by isoclinal folding withing the
BBM shear. This fold geometry, along with the frequency of the folds, can have a significant impact on the
grade and volume of mineralization.
Alteration at BBM is dominated by silica and biotite with pyrite, chalcopyrite, and molybdenite as the main
sulphide species. Recently, a fold model for control on the plunging mineralization has taken precedence
over the footwall splay model previously discussed . What were previously considered as mineralized
fingers of granodiorite are now interpre ted to be fold hinges or ‘knuckles’ . Current drilling will test this
hypothesis and understanding the fold geometry and the controls on higher grade gold can have a positive
effect on both the grade and volume of mineralization at BBM.
Drilling completed to date has consistently confirmed grade continuity within the distinct silica-biotite
alteration system. The fold model suggests the potential for parallel shoots within a core zone of robust
mineralization that now exceeds 600m in length with an open vertical depth of 330m, true widths of the
mineralized envelope are up to 50m. Mineralization also remains open outside the BBM discovery zone,
with potential for other plunging shoots within the initial 2 -kilometre discovery as well as satellite
discoveries along strike. The Company will continue with further step-out and infill drilling throughout the
2024-2025 field season. Prior to drilling the extension targets, an Induced Polarization (“IP”) program is
planned to aid in drill targeting in the satellite areas northwest of the BBM zone . This IP survey on the
Joint Venture permits will complement and be completed alongside the IP planned over the 100%-owned
Awalé ‘Sienso’ permit which abuts the BBM discovery zone (see October 22, 2024 news release).
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 km2 across seven permits. This includes 796 km2 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”) (see May 31, 2022 news release).
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.
Awalé’s Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical
signatures to Iron Oxide Copper Gold 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 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 In tertek from the Company's secure Odienné office and
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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 Australia where the sample is analyzed 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 the special high-grade cases at Charger lower than 5g samples up and
down hole from the high-grade interval in OEDD-88, OEDD-83 and OEDD-100 were also subject to Screen
Fire Assays. As a further QC precaution at Charger due to visible gold presence, Intertek was requested to
insert a quartz wash between each sample in the mineralized interval, ensuring no sample contamination
in the preparation process.
Mineralized Interval Calculations
Significant intervals reported in this news release are calculated downhole length weighted intercepts.
For the BBM target initial mineralized are calculated at a 0.2 g/t trigger and include up to 5 metres internal
waste for of delineation mineralized zones. Included intervals are at 0.5 g/t, 1 g/t, and 2 g/t trigger values
with 3m of internal waste only. For the Charger target initial mineralized are calculated at a 0.5 g/t trigger
and include internal waste of 3m for delineation mineralized zones.
Abbreviations Used in this Release
Ag Silver
Au Gold
Cu Copper
g/t Grams per tonne
km Kilometres
m Metres
Mo Molybdenum
ppm Part per Million
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.
AWALÉ Resources Limited
On behalf of the Board of Directors
“Andrew Chubb”
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
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(+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 Compa ny 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.