Awalé Resources – Advancing Large-Scale IOCG Copper-Gold Targets at the Sceptre Prospect, Odienné, Côte d’Ivoire
Awalé Resources – Advancing Large-Scale IOCG Copper-Gold Targets at the Sceptre Prospect,
Odienné, Côte d’Ivoire
January 13, 2022 - Vancouver, BC - Awalé Resources Limited (“Awalé” or the “Company”) (TSXV: ARIC) is
pleased to announce that infill and follow up soil and termitaria geochemistry on the 5km long Sceptre
Iron-Oxide Copper-Gold (“IOCG”) target, Odienné Project, has refined the anomaly into 2 significant high
tenor copper-gold (“Cu-Au”) IOCG targets (Figures 1 and 2). The two Sceptre Cu-Au targets are now ready
for follow up geophysics and maiden drilling in the first half of 2022 (Figures 3).
On the basis of the regional geological setting of Odienné , the soil/termitaria data from the Sceptre
prospect. and the initial drill results from the adjacent Charger prospect (see Company news release dated
22nd July 2021), the Company interprets the geological setting of the Odienné district to be comparable to
that of other significant IOCG provinces globally. IOCG deposits are significant contributors to global
copper and gold inventories, and the Company considers the Odienn é project to contain significant
potential for the discovery of the first major IOCG deposit known in west Africa.
HIGHLIGHTS
• Follow-up soil/termitaria sampling has allowed for the definition of two distinct Cu-Au targets at
the recently defined Sceptre anomaly, Sceptre East and Sceptre West
• Sceptre East (Figure 3) forms a coincident 1.5 km long, >368ppm (parts per million) Cu / >20ppb
(parts per billion) Au footprint with a peak value of 1,776ppm Cu and 554ppb Au.
o Comparatively, this anomaly covers an area 4 times the size of the recently drilled Charger
target, which returned 3m at 9 grams per tonne ( g/t) Au and 0.4% Cu within a sulfide
bearing hematite breccia (drill hole OERC-89, release dated 22nd July 2021).
The core of the Cu/Au footprint tested at Charger is a 400m long auger anomaly at >90ppb
Au and > 100ppm Cu.
• Sceptre Main (Figure 3) forms a larger, NE trending 2.6 km long and 1.5km wide >110ppm Cu
anomaly with coincident >14 ppb Au anomalism.
o The Sceptre Main target is known to contain a series of polymetallic veins that have
returned high grade results with up to 26.7 g/t Au and 1.5% Cu in selective sampling from
artisanal workings.
View Attached Figures: http://www.awaleresources.com/_resources/maps/2022-01-12-Sceptre-Cu-Au-IOCG-
Final-Figures.pdf
Company CEO Glen Parsons commented today:
“We are delighted that the Odienné IOCG project has continued to develop in this manner.
There are striking similarities between the geology, mineralisation and crustal setting of
Odienné and other major global IOCG provinces such as Olympic Dam and Carajás which
host multiple Tier 1 deposits and are major contributors to global Copper and Gold
inventories.
These targets place Awalé in a unique position to be drill testing the Sceptre targets that
have potential deliver Tier 1 discoveries for the company , and developing the Odienné
district into a new mineralised province in west Africa”
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Next Steps
Planned exploration for the 1st half of 2022 will include ground geophysics – both gravity and targeted IP
surveys (gradient array and pole dipole sections) immediately followed by targeted trenching and drilling.
Geophysics and trenching are anticipated to commence in Q1 2020 with scout drilling to follow over both
the Sceptre East and Sceptre prospects in Q2.
Background on IOCG deposits and similarities to the Odienné district.
Precambrian IOCG provinces globally (e.g. Olympic Dam - Gawler Craton, Australia and Carajás -
Amazonian Craton , Brazil) are important sources of copper and gold, and are characterized by their
association with iron -oxides such as hematite and magnetite. These IOCG deposits formed during brief
episodes of extension that postdated accretion of Paleoproterozoic terranes onto an Archean craton
nucleus (Hayward and Skirrow 2010, Porter 2010) Figures 4 and 5 depict the crustal setting of both the
provinces and Figure 6 includes Odienné location and as a comparison.
These periods of extension and mineralization in the Gawler craton were characterized by bimodal
volcanism and plutonism characterized by the Gawler range volcanics and the Hiltaba Suite plutons. The
Olympic dam province hosts Carapateena (950Mt at 0.57% Cu, 0.25g/t Au, 2.7 g/t Ag – Oz Minerals
Resources and Reserves statement June 2020) and Prominent Hill (150 Mt at 0.9% Cu, 0.75 g/t Au and 2.5
g/t Ag – Oz Minerals Resources and Reserves statement June 2021) along with the giant Olympic Dam
deposit (10.1 Gt @ 0. 61% Cu, 0.27 g/t Au, 1.0 g/t Ag, 0.2 1 kg/tonne U3O8– BHP Annual report 20 21) –
Olympic Dam has a current projected mine life of some 40 years and has been operating since 1988*.
The Carajás IOCG province is developed on the NE margins of Southern Amazonian Craton, although older
than the Gawler has a similar setting is similar with accreted terranes, bimodal volcanism and plutonism
and similar age to the Leo-Man Craton in west Africa. The deposits are located within the east-southeast
trending 150 km long Itacaiúnas Shear Belt, that cuts obliquely across the bimodal, but mainly mafic to
intermediate volcanism which overlies the Mesoarchaean granitoid nucleus of the Amazonian craton
(Porter 2010). Combined, all the Carajás deposit have been estimated to contain combined resources of
>8 Gt @ 0.9 wt.% Cu and 0.2 g/t Au (Xavier et al., 2012)*.
Awalé has now adopted an IOCG model as the setting of the Odienné Projects which consists of a suite of
volcanic and volcaniclastic rocks of basaltic to felsic composition that are synchronous or intruded by a
series of late plutons. The project area sits on the margins of an interpreted deep seated major crustal
structure where Paleoproterozoic rocks have accreted on to an Archean nucleus (Man Craton) that
extends from Cote d’Ivoire westward into Guinea for over 200km. Recent studies show that a large
igneous intrusive province has formed along this paleosuture zone , and this province extends through
Odienné (see figure 6).
The similarities in Odienné crustal setting to the Major Olympic Dam and Carajás IOCG provinces in
Australia and Brazil are convincing. The Sceptre and Sceptre East and Charger Prospects are associated
with a sequence of late bimodal intrusions likely coeval undeformed bimodal volcanic rocks along with
hematite breccia within magnetite altered diorite at the Charger prospect. When paired with the Cu Au
and Silver (Ag) mineralization and polymetallic zonation containing pathfinder elements typically
associated with IOCG systems (including bismuth, silver, molybdenum, and tungste n) all provides
compelling evidence for the comparison to the major global IOCG provinces.
*References made to mines and analogous deposits provide context for the Odienné project but are not
necessarily indicative that these projects host similar tonnages or grades of mineralization.
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Quality Control and Assurance
Analytical work for auger/soil and termitaria geochemical samples is being carried out at the independent
Intertek Laboratories Australia Ltd. an ISO 17025 (2017) Certified Laboratory. Samples are stored at the
Company’s field camps and put into sealed bags until collected by Intertek from the C ompany’s secure
Bondoukou or Odienné office and transported by Intertek to their laboratory in Tarkwa, Ghana for
preparation. Samples are logged in the tracking system, weighed, dried and pulverized to better than 85%,
passing a 75-micron screen, this pulp sample is then shipped to Australia where 10-gram split is analysed
by ICP/MS with an Aqua Regia digest. Blanks, duplicates and certified reference material (standards) are
being used to monitor laboratory performance during the analysis.
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 18 years of experience in international minerals exploration and mining project
evaluation.
ON BEHALF OF THE BOARD
AWALE RESOURCES LIMITED.
“Glen Parsons”
Glen Parsons, President and CEO
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
End
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Readers
are cautioned not to place undue reliance on forward -looking information. Actual results and developments may
differ materially from those contemplated by such information. The statements in this news release are made as of
the date hereof. The Company undertakes no obligation to update forward- looking information except as required
by applicable law.
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