Awalé Reports Gold Recoveries of up to 98% at Odienné on Simple, Conventional Metallurgy
Awalé Reports Gold Recoveries of up to 98%
at Odienné on Simple, Conventional
Metallurgy
Highlights:
Higher demonstrated recoveries and simple metallurgy flow directly into future economic studies,
including the Preliminary Economic Assessment, and into the gold-equivalent reporting grades
used in future drill hole reporting.
Gold recoveries of 91% to 98%, with every deposit exceeding the recovery assumed in the May
2026 Mineral Resource Estimate. Gold recovery was 91.0% at BBM (versus 86.0% assumed in
the MRE), 97.0% at Charger (versus 91.4%), and 97.8% at Empire (versus 94.1%).
Metallurgy is simple. A conventional gravity and cyanidation circuit works at all three deposits. Gold
is coarse, free, and non-refractory, with no preg-robbing or deleterious-element issues identified.
BBM improves further with copper. Adding a gravity circuit and copper flotation lifts BBM gold
recovery to 93.7%, while capturing 92.3% of the copper into a potentially saleable concentrate.
Robust gravity recoverable gold values at all three deposits. Laboratory testing returned overall
three stage gravity recoverable gold of 45.0% at BBM, 53.4% at Charger, and 70.2% at Empire, to
a concentrate mass of less than 0.85%. This supports the inclusion of a gravity circuit in the
flowsheet and the potential for significant gold recovery ahead of leaching.
A core building block of the PEA is complete. These deposit-by-deposit results will underpin
flowsheet selection, recovery assumptions, and processing cost estimates in the PEA.
Toronto, Ontario--(Newsfile Corp. - September 15, 2026) -
Awalé Resources Limited (TSXV: ARIC)
(OTCQX: AWLRF) (FSE: 2F60) ("Awalé"
or the
"Company")
is pleased to report the results of
detailed metallurgical testwork undertaken on its Odienné Gold-Copper Project ("
Odienné
" or the
"
Project
") in Côte d'Ivoire. Testwork was carried out separately on the BBM, Charger, and Empire
deposits, and on a blended Project composite, returning gold extractions of 91.0% to 97.8% by
conventional whole-ore cyanidation, in each case exceeding the metallurgical recovery assumed for that
deposit in the Company's initial Mineral Resource Estimate announced on May 19, 2026.
"The metallurgy testwork at Odienné has returned better than expected results. Every deposit exceeded
the recovery we assumed in our resource estimate and did so on a simple, conventional flowsheet with
no surprises. That means more recoverable metal, stronger inputs for our PEA, and a better basis for
reporting our drill results going forward," said Andrew Chubb, President and CEO of Awalé Resources.
At BBM, 93.7% of the gold and 92.3% of the copper were recovered on composite material grading
below the resource average, demonstrating strong performance even on this lower-grade material.
That's exactly the kind of result that strengthens the economic studies ahead. These results reinforce the
value of our discoveries to date, with drilling continuing and a backlog of results on the way."
Link to all figures
Watch Video of CEO Andrew Chubb Discussing the Met Results
Metallurgical Testwork
Metallurgical recovery determines how much of the gold and copper in the ground can actually be
recovered and sold. Recoveries of 91% to 98% were achieved with simple and conventional processing.
The positive results from the Odienné deposits will provide important inputs for:
Future mineral resource estimates
— Recovery assumptions in future resource updates can
now be based on measured, deposit-specific results rather than conservative estimates;
The PEA
— These results complete one of the principal technical inputs to the PEA, underpinning
flowsheet selection, recovery assumptions and processing cost estimates;
Recoverable metal
— Higher recoveries mean more payable gold and copper from every tonne
of mineralized material processed; and
Future drill result reporting
— Gold-equivalent grades in future exploration results will be
calculated using the measured, deposit-specific recoveries.
The program was completed by Alfred H. Knight Mineral Processing UK Ltd ("AHK"), an independent
testing laboratory, under the direction of Bara Consulting Limited ("Bara"). AHK received approximately
1,060 kilograms of quarter- and half-diamond drill core in 77 core boxes, taken from 11 drill holes across
the three deposits. This material was used to build ten zone composites, which were then blended into
three deposit composites — BBM, Charger, and Empire — and one Project composite representing a
blended plant feed.
Table 1: Drill holes selected for metallurgical analysis
Deposit
Drill Holes Sampled
Zone Composites
BBM
OEDD-0105, OEDD-0122, OEDD-0157
BBM1 to BBM5
Charger
OEDD-0045, OEDD-0100, OEDD-0118, OEDD-0121, OEDD-0136,
OEDD-0137
High Quartz, High Actinolite, Polymetallic, Reserve
Empire
OEDD-0116, OEDD-0126
Empire
BBM material includes core from OEDD-0157, the hole reported on February 23, 2026 which returned
2.0 g/t AuEq. over 72 metres and was drilled in part to provide a metallurgical sample.
Head grades of the deposit composites were 0.90 g/t Au, 2.1 g/t Ag and 0.425% Cu for BBM; 8.91 g/t
Au and 9.7 g/t Ag for Charger; and 1.63 g/t Au for Empire. The Project composite graded 2.06 g/t Au,
1.6 g/t Ag and 0.359% Cu. Notably, the BBM composite head grade of 0.90 g/t Au sits below the 1.16
g/t Au average grade of the BBM Mineral Resource, meaning the BBM recovery result was achieved on
material of below-average resource grade.
The program comprised head assays, modal mineralogy and gold deportment, Bond ball mill and
Geopyörä comminution testing, gravity recoverable gold testing, whole-ore cyanidation across a range
of grind sizes, bulk sulphide and copper flotation, and cyanidation of flotation concentrates and tailings.
A primary grind size of 85 µm was selected for all composites.
Gold Recovery by Deposit
Table 2 - Metallurgical Gold Recovery by Deposit versus Mineral Resource Estimate
Assumptions
Deposit
Au Recovery Assumed in MRE (%)
Au Extraction — Whole Ore Cyanidation
(%)
Au extraction — Preferred
Flowsheet (%)
BBM
86.0
91.0
93.7
Charger
91.4
97.0
97.0
Empire
94.1
97.8
98.2
Project composite
-
93.9
96.3
Notes to Table 2:
1
.
MRE gold recovery assumptions are those disclosed in Table 2 of the Company's news release of May 19, 2026 and in the NI 43-101
Technical Report with an effective date of April 1, 2026.
2
.
Whole ore cyanidation extractions are 48-hour bottle-roll results at an 85 µm primary grind. Preferred flowsheet extractions are modelled
from open-circuit test results: whole ore leach for Charger; bulk sulphide flotation with cyanidation of concentrate and tailings for Empire;
and gravity recovery with copper pre-float and cyanidation of the copper flotation tailings for BBM and the Project composite.
3
.
Reported extractions are laboratory results and do not represent plant recoveries. Modelled BBM and Project composite flowsheet
recoveries do not account for losses during downstream processing of the copper pre-float concentrate.
Copper is a material component of the BBM deposit only. At BBM, the preferred flowsheet recovered
92.3% of the copper to a potentially saleable concentrate, against the 93% copper recovery assumed in
the Mineral Resource Estimate. The blended Project composite returned copper recovery of 92.6%.
BBM returned 91.0% gold extraction by whole-ore cyanidation. Introducing a gravity circuit and a copper
pre-float ahead of leaching of the flotation tailings lifted gold extraction to 93.7% and delivered copper
recovery of 92.3%, with silver recovery of 68.4%. A three-stage cleaner flotation test produced a
modelled concentrate grading 16.18% Cu with 40.06 g/t Au. AHK notes that the concentrate copper
grade is low by industry standards and may attract higher treatment charges, and that gold recovered in
a copper concentrate is worth less than gold produced as doré on site — considerations that will be
weighed in the PEA trade-off work.
Charger returned the strongest straightforward leach response, at 97.0% gold extraction and 82.5%
silver extraction by whole-ore cyanidation, with the lowest reagent consumption relative to grade.
Charger gold is coarse - gold grain sizes of P
80
294 µm in the high-quartz zone and P
80
134 µm in the
high-actinolite zone — and 99.2% to 99.9% of the contained gold reports as microscopic gold.
Empire returned the highest gold extraction of the three deposits at 97.8% by whole-ore cyanidation,
rising to 98.2% with bulk sulphide flotation and cyanidation of concentrate and tailings. Empire is also
the softest material tested, with a Bond ball mill work index of 10.3 kWh/t, and returned the highest
gravity recoverable gold of 70.2%.
Comminution and Flowsheet
Bond ball mill work indices classify BBM (13.8 kWh/t) and Charger (13.4 kWh/t) as average hardness
and Empire (10.3 kWh/t) as medium-soft, with the blended Project composite at 12.9 kWh/t. Grind-
recovery testing showed optimum gold extraction between 106 µm and 85 µm, with finer grinding to 65
µm producing no material recovery gain while increasing power draw, cyanide consumption and tailings
handling difficulty. Sodium cyanide consumption ranged from 0.79 kg/t at Empire to 1.52 kg/t at BBM,
with lime consumption of 0.10 to 0.25 kg/t, and AHK has advised that consumption can likely be reduced
through dosage optimization.
Multiple flowsheet options were modelled across the deposit and Project composites, ranging from
simple whole-ore leach through to gravity recovery combined with copper concentrate production. The
results indicate that a conventional gravity plus cyanidation circuit is effective for all three deposits, with
copper flotation representing an additional option at BBM where copper is a material contributor.
Next Steps
The metallurgical results reported here complete one of the principal technical inputs to the Preliminary
Economic Assessment, in which flowsheet options are assessed against capital and operating cost
estimates and product payability terms to determine the optimal processing route.
Alongside this work, the Company has been running preliminary economic modelling on the current
Mineral Resource. That modelling indicates that the Project's economics would be materially improved
by extending the mine life and by growing the higher-grade components of the resource, specifically the
underground portion of BBM and the Charger deposit, both of which remain open.
AHK has also recommended follow-up testwork to bring the metallurgical program to study level,
including a full suite of comminution testing, locked-cycle flotation testing to confirm copper circuit
performance, extended gravity recoverable gold testing, cyanide dosage optimization, carbon
adsorption isotherm, and kinetic testing for ADR circuit design, cyanide detoxification testing, and
thickening and filtration testing for tailings disposal. This work is being scoped as part of the Company's
advance toward a Pre-Feasibility Study.
Metallurgical Testwork and Quality Assurance
The metallurgical testwork described in this news release was completed by Alfred H. Knight Mineral
Processing UK Ltd, an independent metallurgical testing laboratory, under project number 26-2356, and
was managed on the Company's behalf by Bara Consulting Limited. Test charges were prepared from
quarter- and half-diamond drill core supplied by the Company from holes drilled at the BBM, Charger,
and Empire deposits. Core was stage crushed, homogenized by rotary splitting and recombination, and
split to produce zone, deposit and Project composites. Head analysis comprised gold by fire assay,
silver by ICP-OES, multi-element ICP-OES and ICP-MS, sulphur, carbon and copper speciation, and
mercury by cold vapour. Cyanidation testing was conducted over 48 hours at controlled pH of 10.5 to 11
with periodic titration of the leach solution, and metallurgical balances were completed on solution, solid
residue and loaded carbon assays. Flotation testing was conducted in Denver D12 cells on 1 kg
charges. Reported extractions are laboratory testwork results at the scale and conditions described and
are not, and should not be read as, projected plant recoveries.
Mineral Resource Estimate Reference
The metallurgical recovery assumptions referred to in this news release are those disclosed in the
Company's news release dated May 19, 2026, "Awalé Announces Inferred Mineral Resource Estimate
of 1.71 Moz Gold Equivalent for the Odienné Project", and in the NI 43-101 Technical Report prepared
by Bara Consulting Limited with an effective date of April 1, 2026, available under the Company's profile
at
www.sedarplus.ca
. The Odienné Mineral Resource Estimate comprises an inferred resource of 32.4
Mt at 1.64 g/t AuEq. for 1,707,000 ounces AuEq. (1,389,000 oz gold and 93,000 tonnes copper), of
which BBM contributes 27.8 Mt at 1.52 g/t AuEq., Charger 1.6 Mt at 4.64 g/t AuEq., and Empire 3.0 Mt
at 1.23 g/t Au.
The gold equivalent grades reported in the Mineral Resource Estimate were calculated using the
metallurgical recovery assumptions set out in that release. No revision to the Mineral Resource Estimate
is being made or implied by this news release
.
The metallurgical results reported here will be applied in
the Company's economic studies. Mineral Resources are not Mineral Reserves and do not have
demonstrated economic viability.
Qualified Person
The metallurgical testwork results and other scientific and technical information contained in this news
release have been reviewed and approved by Dr. Andrew Bamber of Bara Consulting Limited, a
Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101"). Dr. Bamber is independent of the Company and has 30 years of experience in
metallurgical testwork design, interpretation and process plant design. Dr. Bamber has reviewed and
approved the technical content of this news release in the form and context in which it appears.
The Mineral Resource Estimate referred to in this news release was prepared under the supervision of
Mr. Galen White, BSc (Hons), FAusIMM, FGS, Principal Consultant - Bara Consulting Limited, a
Qualified Person as defined under NI 43-101 and independent of the Company.
About Awalé Resources
Awalé Resources is a diligent and systematic mineral exploration company focused on discovering
large-scale gold and gold-copper deposits in Côte d'Ivoire. The Company's flagship Odienné Project
now hosts an initial inferred Mineral Resource Estimate
1
of 1.71 million ounces gold equivalent across
the BBM, Charger, and Empire deposits (32.4 Mt at 1.33 g/t Au and 0.33% Cu), providing a strong
foundation for ongoing growth and future economic studies.
In addition to the current resource base defined on the joint venture ground, Awalé controls a 1,542 km
2
100%-owned land position across the broader Odienné district, where multiple targets provide
additional potential discovery upside. Across the Project, Awalé has identified multiple gold and gold-
copper systems and continues to build a pipeline of targets with potential to support further discoveries
and resource growth.
The Odienné Project covers 2,338 km
2
across seven permits, including 797 km
2
held under the Awalé-
Newmont Joint Venture. Awalé manages exploration activities across the joint venture area.
With a skilled and experienced technical team, together with support from three strategic shareholders,
Awalé is advancing exploration in an underexplored and pro-mining jurisdiction with clear potential for
district-scale discoveries.
Abbreviations Used in this Release
Ag
Silver
Au
Gold
AuEq.
Gold equivalent
BWi
Bond ball mill work index
Cu
Copper
g/t
Grams per tonne
GRG
Gravity recoverable gold
kg/t
Kilograms per tonne
kWh/t
Kilowatt hours per tonne
koz
Thousand ounces
m
Metres
Moz
Million ounces
Mt
Million tonnes
MRE
Mineral Resource Estimate
oz
Ounces
PEA
Preliminary Economic Assessment
PFS
Pre-Feasibility Study
µm
Micron
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.ca
. For further information on the
Company, please visit our website at
www.awaleresources.com
.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian
securities laws (collectively, "forward-looking statements"). Forward-looking statements are typically
identified by words such as: believe, expect, anticipate, intend, estimate, plan, propose, potential,
postulate, target, continue, advance 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 news release include, but are not limited to, the
Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company
shareholders, achievements under the Newmont exploration agreement, advancement and
expansion of the Odienné Project, the potential size, scale and quality of the mineral resource
estimate at BBM, Charger and Empire, the conversion or upgrading of inferred mineral resources,
timing and results of future drilling programs, resource expansion potential at BBM, Charger and
Empire, and exploration and discovery potential at Fremen and other targets, the potential for
additional discoveries, expectations regarding the timing and completion of a preliminary economic
assessment and advancement toward pre-feasibility studies, timing for receipt of assay results,
commencement and continuation of operations, and the potential development of the Odienné
Project. Although the Company believes the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations and assumptions will
prove to be correct. Factors that could cause actual results to differ materially from forward-looking
information include, but are not limited to, the results of exploration and drilling programs, the
interpretation of exploration and mineral resource results, changes in mineral resource estimates, the
ability to convert inferred mineral resources to indicated mineral resources, the ability to complete
future economic studies, fluctuations in commodity prices, changes in the state of equity and debt
markets, delays in obtaining required regulatory, governmental, environmental or other project
approvals, availability of financing, and the other risks involved in the mineral exploration and
development industry, including those risks set out in the Company's management's discussion and
analysis and other continuous disclosure documents filed under the Company's profile at SEDAR+ 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, without
limitation, that all necessary governmental and regulatory approvals will be received as and when
expected, that financing will be available on reasonable terms, and that exploration, development and
study activities will proceed as currently planned. Although the Company believes 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, whether as a result of new information,
future events or otherwise, except 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.
1
The full Initial Mineral Resource Estimate news release dated May 19, 2026, including detailed assumptions and methodology, is available at
www.awaleresources.com
and SEDAR+
www.sedarplus.ca
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/314308