Awalé Resources Intersects Broad Gold Bearing Alteration System in Maiden RC Drill Program.
Awalé Resources Intersects Broad Gold Bearing Alteration System
in Maiden RC Drill Program.
Vancouver, BC, February 2, 2018 – Awalé Resources Limited (“Awalé” or the “Company”) (TSXV: ARIC) is
pleased to announce initial results from the Fako and Fako South Prospects, these results form part of the
Company’s maiden scout drilling program at the Bondoukou Project. Drilling has intercepted broad gold
mineralisation within a large fuchsite/sericite/silica/chlorite alteration system. Results are pending for a
further 8 holes at the Fako prospects, these results along with the remainder of the 57-hole drill program
are expected in the first half of February.
Highlights from the scout drilling completed at Fako and Fako South are as follows ; a full table of drill
collars and significant intercepts for this release are included in table 1.
BERC0001 – 3 metres at 5.02 grams/tonne (‘g/t’) gold (‘Au’) from 31m downhole
BERC0005 - 5 metres at 1.46 g/t Au (including 1m at 3.24 g/t Au) from 78m downhole
BERC0008 - 20 metres at 0.96 g/t Au (including 3m at 1.98 g/t, 4m at 1.62 g/t and 2m at 1.6 g/t
Au) from 60m downhole (hole ends in mineralisation)
BERC0009 – 7 metres at 1.2 g/t tonne Au (including 1 metre at 5.6 g/t Au) from 16m downhole
BERC0022 – 2 metres at 4.69 g/t Au from 42m downhole
BERC0023 – 1 metres at 2.25 g/t Au from 56m downhole
View attached figures: http://www.awaleresources.com/_resources/maps/Maiden_Drilling_Fako.pdf
Glen Parsons CEO commented today:
“First results from the maiden Bondoukou scout RC drill program has revealed a large -scale gold
mineralised alteration system characterised by fuchsite and sericite. All 7 drill sections, which cover 4.5
strike kilometres contain the same alteration style, confirming the scale and potential of the prospect .
Encouragingly, these first holes which include 20 metres at 1 g/t gold and grades of up to 5 g/t display
mineralisation far greater in scale than any of the primary artisanal workings on surface, with exceptional
scope to extend mineralisation at this prospect with further work.
“The drilling reported in this release was conducted o ver a small portion of the 38km-long Awari shear
where with anomalous auger geochemistry remains open along strike in both northwest and southeast of
the drilling. These results further validate the company’s exploration approach over areas of shallow cover
and limited or no outcrop. The company will follow up these promising initial results and continue to test
this structure.
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“Our team is working on understanding the geo logy and relationships between the alteration and
mineralisation in anticipation of further results. Once pending results are received , a full geological
interpretation will be completed, allowing for planning of extension and infill drilling.
“Further drilling programs will be run parallel to greater geochemical sampling along the Awari Shear as
well as other prospects bringing them to drill-ready status.
“I look forward to updating the market as the balance of results unfold with an enhanced understanding
of this system.”
Background to the Fako and Fako South Drilling
Results have been returned for 15 of 23 holes drilled at the Fako and Fako South prospects (BERC0001 to
BERC0023). Average hole depth was 70 metres for the 1,631 metres drilled at the two prospects. Results
from the remaining eight holes are expected in the first half of February . This drilling forms part of a
greater 57-hole 4743 metre scout drill program for over five gold prospects at the Bondoukou Project .
The drill program was completed on the 22nd of December 2017.
Drilling at Fako consisted of seven reconnaissance drill lines that focussed on a six kilometre section of the
38 kilometre long Awari Shear. This area was initially defined by a 6km long greater than 50pbb auger
anomaly which sits both over and along strike from well-developed artisanal mining areas, consisting of
shallow pitting on quartz veins and broader colluvial workings . Resistive/chargeable IP anomalies were
found to be coincident with the Auger anomalies, forming coherent scout drilling targets along with the
artisanal workings in the vicinity. Importantly the alteration can be traced between each drill section for
4.5 kilometres and is open along strike and down dip – hole BERC0008 ended in mineralisation.
The mineralised zones occur within a large fuchsite alteration system with localised moderate to strong
sericite/chlorite/silica and potassic overprinting or zoned alteration. The alteration is also associated with
several phases of quartz veining and disseminated sulphide. Some quartz phases are mineralised, while
others are barren , sulphide occurs in conjunction with all types alteration but is not always associated
with mineralisation. Paragenetic relationships between veining, alteration and gold mineralisation are
poorly understood at this early stage.
Figure 2 is a photo of drilling chips from the 20 -metre mineralised zone from hole BERC0008 (60 to 80
metres), with the hole ending in mineralisation, depicting the strong fuchsite alteration, quartz veining
and silica/sericite alteration . Rocks hosting the alteration system consist of moderately to strongly
sheared intermediate intrusive and volcanic rocks. Thinner mafic to ultramafic lithologies have also been
recognised in the logging. All pending holes have weak strong fuchsite alteration, quartz veining , and
varying combinations of sericite, potassic and chlorite alteration, results from these holes are awaited to
contribute to a more complete geological framework for mineralisation and a plan for further work on the
prospect, which will likely commence with diamond drilling to aid in construction of a stronger geological
and exploration model.
Quality Control and Assurance
Mineralised intervals presented in Table 1 are drill intersection widths and may not represent true widths
of mineralisation. Drill chips obtained from the Reverse Circulation drill program were logged on site with
a representative sample of sieved and washed drill chips stored in plastic tray for a geological record. All
drill samples were weighed for recovery estimation. Subsequent to completion of logging, samples were
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transported to a holding area or bag farm under constant supervision where sampling for analysis was
completed. Standard sampling protocol involved the splitting of the bulk RC sample with a Jones Riffle
Splitter for 1 m intervals in clearly or suspected mineralised sections. Two metre composite samples were
collected with a spear for non -mineralised intervals. All bulk bags have been stored under constant
supervision until completion of analysis when any 2m composite samples above 0.2g/t will be re -split to
1 metre intervals.
Sampling equipment was cleaned with a clean brush and compressed air after each sample and the sample
placed in a clean, new plastic bag with a sample tag inserted and sealed immediately for dispatch to the
laboratory for analysis. Samples have been prepared by ALS Laboratories’ preparation facility in
Yamoussoukro Cote d’Ivoire and analysed at ALS Laboratories’ analytical facility in Kumasi, Ghana.
samples have been analysed for gold using a 50g Fire Assay with AAS finish (with gravimetric methods for
high grade samples). Standards and blanks were inserted in to the analytical sequence on the basis of one
standard for every 20 samples, 2 blanks in every batch, additionally one duplicate was taken every 20
samples.
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Table 1. Technical and assay data for drill holes reported in this release (all holes from the Fako and
Fako South prospects)
Hole ID Prospect From to Width Gold g/t East North RL Azimut
Di
Total
BERC0001 Fako 31 35 4 3.96 54528
92865
260 220 -50 80
Including 31 34 3 5.02
BERC0002 Fako No Significant Intercepts
54851
92703
264.
220 -50 61
BERC0003 Fako South 16 17 1 0.89 54854
92706
263.
220 -50 90
60 61 1 0.25
64 65 1 0.61
68 76 8 0.32
BERC0004 Fako South 45 54 9 0.46 54856
92709
263 220 -50 82
60 61 1 0.26
66 67 1 0.39
BERC0005 Fako South 8 11 3 0.73 54848
92700
263 220 -50 96
Including 8 9 1 1.14
28 30 2 0.38
78 83 5 1.46
Including 82 83 1 3.24
BERC0006 Fako 26 31 5 0.92 54648
92809
225 220 -50 84
Including 26 28 2 1.92
81 83 2 0.29
BERC0007 Fako 1 2 1 0.26 54645
92806
227 220 -50 60
BERC0008 Fako 38 42 4 0.48 54664
92802
224 220 -50 80
50 52 2 0.25
60 80 20 0.96
Including 60 62 2 1.6
& 68 72 4 1.62
& 77 80 3 1.98
BERC0009 Fako 16 23 7 1.2 54665
92805
224 220 -50 60
18 19 1 5.46
BERC0010 RESULTS PENDING 54651
92812
224 220 -50 66
BERC0011 RESULTS PENDING 54680
92796
219 220 -50 90
BERC0012 RESULTS PENDING 54676
92792
222 220 -50 84
BERC0013 RESULTS PENDING 54593
92843
246 220 -50 66
BERC0014 30% Returned Remaining Results Pending 54596
92846
247 220 -50 60
BERC0015 No Significant Intercepts 54598
92848
246 220 -50 60
BERC0016 No Significant Intercepts 54600
92852
246 220 -50 60
BERC0017 Fako 28 30 2 0.35 54603
92855
246 220 -50 63
BERC0018 RESULTS PENDING 54579
92852
254 220 -50 60
BERC0019 RESULTS PENDING 54582
92855
257 220 -50 65
BERC0020 RESULTS PENDING 54585
92858
258 220 -50 60
BERC0021 RESULTS PENDING 54588
92860
255 220 -50 60
BERC0022 Fako 12 13 1 0.44 54514
92894
257 40 -60 84
36 37 1 0.41
42 44 2 4.69
Including 43 44 1 7.97
BERC0023 Fako 56 57 1 2.25 54518
92898
257 220 -50 60
ON BEHALF OF THE BOARD
AWALE RESOURCES LIMITED.
“Glen Parsons”
Glen Parsons, President and CEO
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For additional information you are invited to visit the Awalé Resources Limited website at
www.awaleresources.com, or contact Karen Davies, Head of Investor Relations at Tel: 604.314.6270
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 Operating 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 17 years of experience in international minerals exploration and mining project
evaluation.
End
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