Awalé Hits Multiple High-Grade Intercepts, including 3.3 g/t Gold Eq. over 35 Metres at the BBM Zone, Odienné Project
Awalé Hits Multiple High-Grade Intercepts, including 3.3 g/t Gold Eq. over 35 Metres at the
BBM Zone, Odienné Project
HIGHLIGHTS
• 35m @ 3.3 g/t gold equivalent (Au Eq.) and 17m @ 2.4 g/t Au Eq. in OEDD-89
• 52m @ 2.0 g/t Au Eq. in OEDD-90
• 32m @ 2.1 g/t Au Eq. in OEDD-92
• BBM’s strike length expanded from around 400 to over 600 metres, with mineralization defined
from surface to 250 metres depth with true widths of up to 50 metres.
• Assay results are pending for 6 more holes from this drill program, from both BBM and Charger.
• Awalé will start a new 8,000-metre drill program, fully-funded by Newmont, in Q4/2024.
Vancouver, Canada, September 9 , 2024 -- Awalé Resources Limited. (TSXV : ARIC ) (“Awalé” or the
“Company”) is pleased to announce partial results of a follow-up drilling program from the BBM Zone at
the Odienné Project in Côte d'Ivoire.
“The high-grade core of BBM has now expanded to over 600 metres, with mineralization remaining open
in multiple directions and showing signs of increasing grade at depth. BBM remains open, with a style of
mineralization that allows for relatively straightforward growth and delineation of an open pit resource.
These results emphasize this discovery's potential scale and significance, and we are eager to expand BBM
further as we continue to define th is target with additional drilling beginning shortly ,” commented
Andrew Chubb, CEO of Awalé Resources.
About BBM Zone
BBM is a grassroots discovery by Awalé (see January 11, 2024 new release) , whose gold and copper
mineralization and alteration system are controlled by a shear zone that follows an intrusive/sedimentary
contact. Drilling completed at BBM covers approximately 2 kilometres of strike along an 8 kilometre long
geochemical gold in termitaria geochemical trend this shear zone (link to Figure 1 and link to Figure 2 ).
Awalé followed-up on its January 2024 BBM discovery with intersections announced in March 2024 (see
March 18, 2024 news release).
All 24 holes , totalling over 6,808 metres , at BBM have intercepted mineralization ( link to Figure 3 long
section) and were drilled in three (3) phases, with pending results for two holes (OEDD-97 and OEDD-98).
Drilling was completed on 13 sections with an average spacing of 100 metres between sections and up to
500 metres step-outs to the SE (link to Figure 4). Interpretation of the drilling completed suggests that
mineralization at BBM is steeply dipping (70 to 80 degrees) with a gentle plunge (45 -55 degrees) toward
the northwest.
2 | A w a l é R e s o u r c e s L t d .
Figures 1 and 2 : Combined for the BBM Target (see links below for high resolution) - Plan View , left is simplified Geology
showing the 8km the open geochemical anomaly to the NW and SE, and right showing location of the BBM drilling withing this
target trend.
Alteration at BBM is dominated by silica and biotite with pyrite, chalcopyrite, and molybdenite as the main
sulphide species. Recent drilling has shown the presence of footwall mineralization beyond the footwall
contact with metasediments to the north side of the structure, where fingers of granodiorite intrude the
footwall metasediments. Drilling has also confirmed grade continuity of the mineralization as well as
tested for new parallel shoots along the 8km of open strike. The follow-up drilling reported in this release
has outlined a core zone of robust high-grade mineralization over 600m and a vertical depth of 250m. The
two deeper holes with results pending have also intercepted target geology and alteration with sulphide
mineralization.
Extending the higher grade core to over 600 metres demonstrates the robust nature of the mineralization
and represents a substantial increase in the BBM Zone's definition and potential. F urther exploration
drilling is expected to enhan ce the understanding of the target in this promising new region of Côte
d’Ivoire. After the wet season, the Company plans to advance the BBM target with an 8,000-metre aircore
drill program targeting extensions and satellites and RC drilling in shallower areas within the dis covery
zone.
The program which consisted of 3,627 metres drilled across 10 diamond holes and 2 diamond tails, (hole
extensions from previous drilling, targeting footwall mineralization), has significantly extended the known
high-grade core of the zone to over 600 metres. It also confirmed the potential for further expansion along
strike and down dip/plunge, as well as within the footwall of the main zone . These results indicate
increasing grades at depth, and confirm that mineralization remains open along strike and down plunge
within the 1.3 -kilometre zone. Results are pending for diamond drill holes OEDD-97 and OEDD -98, the
two deepest holes for the program, which have traversed target mineralization from approximately 440m
downhole in OEDD-97 and 430 metres downhole in OEDD-98.
3 | A w a l é R e s o u r c e s L t d .
A full table of significant intercepts for the program is provided in Table 1 below, along with drill collar
locations in Table 2.
LINK TO BBM’s OEDD-89 Drill Core Photos
LINK TO ALL FIGURES
Table 1: Significant Intercepts
Hole From
(m)
to
(m)
Width
(m)
Au
(g/t)
Cu
(%)
Ag
(g/t)
Mo
(ppm)
Au
Eq.
Au
gm
AuEq
gm
Composite
Trigger g/t
OEDD0073 147 173 26 0.6 0.16 0.5 131 0.9 15 23 0.2
including 150 152 2 0.9 0.14 0.6 14 1.1 2 2 0.5
including 160 173 13 0.8 0.24 0.8 230 1.3 11 17 0.5
OEDD0089 318 353 35 2.2 0.48 1.9 567 3.3 77 114 0.5
Including 319 325 6 2.3 0.27 1.0 1071 3.5 14 21 2
Including 330 353 23 2.5 0.60 2.3 365 3.6 59 83 1
and 377 394 17 1.8 0.30 0.9 195 2.4 31 41 0.5
Including 384 390 6 3.1 0.55 1.6 353 4.1 19 25 2
OEDD0090 181 233 52 1.5 0.21 0.9 234 2.0 80 104 0.2
Including 212 231 19 2.6 0.31 1.1 246 3.2 50 62 2
OEDD0091 120 173 53 0.6 0.13 0.6 130 0.9 34 48 0.2
and 134 169 35 0.8 0.14 0.6 158 1.1 28 39 0.5
OEDD0092 84 89 5 0.7 0.46 1.5 18 1.3 4 7 0.5
Including 84 85 1 2.7 1.82 6.1 38 5.2 3 7 1
and 278 310 32.00 1.5 0.36 1.3 138 2.1 48 67 0.50
Including 287 302 15.00 2.4 0.38 1.3 181 3.0 35 45 1.00
OEDD0093 199 233 34.00 0.6 0.59 3.0 40 1.5 22 51 0.20
Including 180 182 2.00 2.5 1.16 4.8 36 4.1 5 8 1.00
and 211 232 21.00 0.8 0.74 3.9 40 1.9 17 40 0.50
Including 215 216 1.00 1.4 0.94 3.8 27 2.8 1 3 1.00
Including 220 221 1.00 3.8 1.02 6.4 132 5.3 4 5 1.00
Including 228 229 1.00 1.5 0.33 2.6 18 2.0 2 2 1.00
OEDD0094 241 257 16.00 0.7 0.37 0.9 146 1.3 12 21 0.50
Including 245 246 1.00 1.9 0.21 0.6 93 2.3 2 2 1.00
Including 252 253 1.00 1.1 0.54 1.0 99 1.9 1 2 1.00
Including 256 257 1.00 1.2 1.03 3.3 85 2.7 1 3 1.00
and 298 317 19.00 0.8 0.14 0.5 69 1.0 15 19 0.50
Including 298 303 5.00 1.1 0.20 0.6 146 1.5 6 8 1.00
Including 307 311 4.00 1.1 0.20 0.5 30 1.4 4 6 1.00
and 333 354 21.00 0.9 0.28 0.9 196 1.4 18 29 0.50
Including 337 349 12.00 1.1 0.32 1.0 231 1.7 13 21 1.00
and 353 354 1.00 1.8 0.35 1.3 43 2.3 2 2 1.00
OEDD0095 185 204 19.00 0.3 0.36 1.4 24 0.8 6 16 0.20
Including 192 193 1.00 0.6 0.81 3.5 63 1.7 1 2 0.50
Including 203 204 1.00 1.2 0.36 1.5 7 1.7 1 2 0.50
and 212 213 1.00 0.6 1.11 3.8 35 2.2 1 2 0.50
and 217 218 1.00 0.6 0.72 2.9 46 1.6 1 2 0.50
and 238 239 1.00 0.6 0.22 2.4 5 1.0 1 1 0.50
OEDD0096 126 137 11.00 0.3 0.15 0.4 178 0.6 3 7 0.20
Including 132 133 1.00 0.5 0.25 0.7 68 0.9 1 1 0.50
and 141 162 21.00 0.9 0.17 0.8 114 1.2 20 26 0.20
Including 144 146 2.00 2.2 0.38 1.5 227 2.9 4 7 1.00
4 | A w a l é R e s o u r c e s L t d .
Including 152 161 9.00 1.4 0.17 0.9 95 1.7 12 15 0.50
Including 156 159 3.00 2.9 0.32 1.6 112 3.5 9 10 2.00
Table 2: BBM Drilling Collar Cable
HOLEID EASTING NORTHING RL_M AZIM_TRUE DIP EOH_M Comments
OEDD0065 655949.04 1048015.91 450.19 35.00 -55.00 209.51 DD Tail from 66m (NSV)
OEDD0073 655796.27 1048113.92 448.95 35.00 -55.00 107.30 DD Tail from 209m
OEDD0089 655813.07 1047963.67 445.71 31.20 -57.47 410.00
OEDD0090 655993.81 1047946.69 450.68 35.00 -55.00 317.27
OEDD0091 656138.39 1047853.14 455.30 35.00 -55.00 194.20
OEDD0092 655702.70 1048073.71 451.07 35.00 -55.00 335.30
OEDD0093 655379.89 1048249.71 458.08 35.00 -55.00 278.27
OEDD0094 655518.24 1048148.92 457.56 35.00 -55.00 398.30
OEDD0095 655305.16 1048288.12 458.20 35.00 -55.00 284.15
OEDD0096 656212.45 1047770.64 460.13 35.00 -55.00 191.18
OEDD0097 655771.52 1047907.10 448.81 35.00 -55.00 524.00 Results Pending
OEDD0098 655709.29 1047942.84 451.40 35.00 -55.00 525.92 Results Pending
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 regions of Côte d'Ivoire. Awalé's exploration success to date has cul minated in a fully
funded earn-in joint venture with Newmont Ventures Limited (“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 gol d, gold-copper, and gold -copper-silver-molybdenum discoveries have
been made. The Sceptre East and Charger discoveries offer significant potential for growth with future
discovery and resource development drilling. The Odienné Project JV has multiple pipeline prospects with
similar geochemical signatures to Iron Oxide Copper Gold ( IOCG) and intrusive-related mineral systems.
The 400 km² of granted tenure and 400 km² under application remain underexplored and present
substantial upside potential. The Odienné Project JV forms a solid foundation for the Company to continue
exploring in a pro -mining jurisdiction that offers significant potential for district -scale discoveries. The
greater Odienné Copper-Gold Project includes an additional four applications and an option agreement.
The Odienné Project JV
The Odienné Project JV covers one permit and one application within the greater Odienné Gold -Copper
Project and is subject to an earn-in agreement with Newmont (see May 31, 2022 news release). Through
this agreement, Newmont retains the option to earn a minimum 65% interest from Awalé in the Odienné
Project JV in exchange for US$15 million in exploration expenditures. Newmont is funding the exploration
program while Awalé manages the Odienné Project JV during the initial three-year phase.
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
5 | A w a l é R e s o u r c e s L t d .
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, 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 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 in OEDD -88 were also subject to Screen Fire Assays. As a further QC precaution due to
visible gold presence, Intertek was requested to insert a quartz wash between each sample in the
mineralised 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, 1g/t and 2g/t trigger values with
3m of internal waste only. Table 1 Contains a list of all BBM holes – including OEDD-70 and OEDD -75
which contain mineralized intervals at less than the 0.2 g/t Au trigger value. True Wi dths 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) Prices are 12 month average for 2023 closing price, and the Formula
AuEq = Au (g/t) + ((Cu(ppm) * 0.00014) + (Mo(ppm) * 0.00065) + (Ag(g/t)*0.01225)) assuming 100%
recovery rates.
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 Kilometres
m Metres
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.
6 | 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 & Investor Relations
+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.