Awalé Hits 2.5 g/t Gold Eq. over 34 Metres at the BBM Zone, Odienné Project
Awalé Hits 2.5 g/t Gold Eq. over 34 Metres at the BBM Zone, Odienné Project
HIGHLIGHTS
• 34m @ 2.5 grams per tonne (“g/t”) gold equivalent ( “AuEq.”), including 12m @ 3. 5 g/t AuEq.
from 323m downhole in OEDD-104.
• 29m @ 1.2 g/t AuEq., including 14m @ 1.8 g/t AuEq. from 82m downhole in OEDD-103.
• Drilling continues to demonstrate excellent continuity over significant width and gold tenor at
BBM.
• With the success of drilling results, the Company has increased the drill program at BBM from
3000m to 7000m.
• Drilling at Charger is progressing to plan, with drilling at Empire to follow suit.
Vancouver, British Columbia, January 29, 2025 -- Awalé Resources Limited (TSXV: ARIC) (“Awalé” or the
“Company”) is pleased to report results from the first two diamond drill holes completed as part of an
expanded drill campaign targeting the BBM zone at the Odienné Project in Côte d’Ivoire. The drill program,
which began in November 2024, is ongoing, with five holes remaining in the extended campaign. These
initial holes were drilled within the previously reported central mineralized zone , where the Company is
tightening drill spacing to a 100m grid (refer to drill plan and sections).
“We are excited to report additional excellent results from the BBM target, confirming the robust nature
of mineralization at BBM. We are seeing a remarkable consistency in width and grade in this drilling,
consistent with those previously reported in the core zone at BBM. These results underscore the potential
of this zone.
We are also pleased to announce that the expanded step-out diamond drilling is near completion at BBM.
This drilling is focused on expanding the 600m core zone along strike to the southeast and northwest
where we believe there is potential to expand the size of BBM. The success of this program has led to an
extension beyond the initial 3000m plan, with over 5400m now completed in 19 holes, with 4 holes to be
drilled. The deployment of two diamond drill rigs has enabled us to not only advance BBM but also
commence drilling at the Charger target. We are also bringing the Empire target back into the exploration
pipeline as part of this program . In addition to these diamond drilling advancements, we are actively
progressing with the IP geophysics program, with RC drilling set to commence in the coming weeks. This
increased level of activity is expected to deliver a steady stream of results to the market throughout this
quarter and beyond,” Commented Andrew Chubb, CEO of Awalé Resources.
Link to All Figures
View Video of CEO Andrew Chubb Discussing Results
2 | A w a l é R e s o u r c e s L t d .
The Company has expanded the BBM program, completing 5404m of drilling across 19 holes and one re-
entry hole. Initial drilling focused on testing continuity within the core of the BBM zone, tightening drill
spacing to a 100m grid. Beyond this, drilling has targeted extensions to the defined 600m panel to both
the northwest and southeast. Additionally, drilling has commenced at the Charger target, with an initial
1000m planned to validate the new geological fold model , which suggests that broad, high -grade
intercepts are concentrated within fold hinges, providing a n opportunity to rapidly assess the volume
potential of this target.
Drill collar locations and full table of significant intercepts for the program are provided in Table 1 and
Table 2 below.
Table 1: BBM Drilling Collar Cable – (from this program)
HOLE ID EASTING NORTHING RL_M AZIM_TRUE DIP EOH_M Comments
OEDD0103 655899 1048090 450 35.00 -55.00 197.43 Not DGPS
OEDD0104 655737 1048029 450 35.00 -55.00 452.3 Not DGPS
Table 2: Significant Intercepts – (from this program)
Hole From
(m)
To
(m)
Width
(m)
Au
(g/t)
Cu
(%)
Ag
(g/t)
Mo
(ppm)
AuEq.
(80%)
Comp. Trigger
(g/t)
OEDD0103 82 111 29 1.1 0.17 0.6 191 1.2 0.5
including 93 107 14 1.7 0.25 0.9 312 1.8 1.0
and 99 101 2 3.6 0.33 1.5 103 3.3 2.0
and 106 107 1 3.7 0.34 1.2 425 3.5 2.0
OEDD0104 312 319 7 1.6 0.13 0.7 261 1.5 0.5
Including 317 319 2 4.0 0.20 1.0 614 3.7 2.0
OEDD0104 323 357 34 1.9 0.64 2.9 416 2.5 0.5
Including 326 338 12 2.8 0.84 3.8 704 3.5 2.0
and 351 354 3 3.2 0.58 5.3 196 3.3 2.0
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”).
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 Odienné 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.
3 | A w a l é R e s o u r c e s L t d .
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, C ôte 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 t o 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.
Mineralized Interval Calculations
Significant intervals reported in this news release are calculated as downhole length-weighted intercepts.
For the BBM target, initial mineralized zones are calculated at a 0.2 g/t trigger and include up to 5 metres
of internal waste for delineating mineralized zones. Included intervals are calculated at 0.5 g/t, 1 g/t, and
2 g/t trigger values, with up to 3 metres of internal waste. Table 1 contains a list of all BBM holes reported
in this release. True widths are estimated to be 70% of the downhole widths.
Au Equivalent Calculations
Au Equivalent is calculated using the following parameters in USD: Au – 1910/Oz (Troy), Cu 3.80/lb, Mo
40,000/Tonne, and Ag 23.40/Oz (Troy). The Formula AuEq = Au (g/t) + ((Cu (ppm) * 0.00014) + (Mo (ppm)
* 0.00065) + (Ag (g/t)*0.01225)). An 80% metallurgical recovery is assumed for all metals, as the specific
recovery rates for individual metals are unclear, and assuming different recoveries would be premature
at this stage.
Abbreviations Used in this Release
Ag Silver
Au Gold
AuEq. Gold Equivalent
Cu Copper
Cu Eq. Copper Equivalent
g/t Grams per tonne
km Kilometres
m Metres
ppm Parts 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 Geoscientists
(SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project
evaluation.
4 | A w a l é R e s o u r c e s L t d .
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 incl ude 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 o r
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.