Awalé Uncovers 3.5km Gold Footprint on 100%-Owned Ground and on Trend from the BBM Discovery
Awalé Uncovers 3.5km Gold Footprint on 100%-Owned Ground and on Trend from
the BBM Discovery
HIGHLIGHTS
• Greater than 37ppb gold footprint over a 3.5 kilometre open trend with peak value of 1.3 grams
gold.
• The ‘Sienso’ gold footprint is next door to the BBM discovery – only 4km away.
• Was revealed by the same Termite Mound sampling methodology used at BBM.
• The ‘Sienso’ trend remains open to the south.
• ‘Sienso’ is situated within 100% Awalé owned property
Vancouver, British Columbia, October 22, 2024 -- Awalé Resources Limited. (TSXV: ARIC) (“Awalé” or the
“Company”) is pleased to announce it has uncovered a new and open 3.5 kilometre (“km”) long > 37 parts
per billion (“ppb”) gold in termitaria footprint with a peak value of 1.3 grams per tonne (“g/t”) gold (“Au”).
The program was completed within Awalé’s 100%-owned ‘Sienso’ permit next door to the BBM discovery
which lies 4km along strike to the northwest (see Figures 1 and 2).
“This new find at Sienso was made using the same termite mound sampling method that led to the BBM
discovery. Termite mounds are great exploration tools as they provide in -situ sample from deep in the
ground to be analysed for gold and other metals . This methodology has proven effective in our terrain,
and we are delighted termitaria sampling has uncovered another large gold footprint at such an early
stage of exploration on our 100%-owned ground. The discovery hole at BBM was drilled under a 1.2 g/t
termitaria sample, so w e are ex cited to follow -up this new target given its proximity and similar
characteristics to BBM. With the seasonal rains soon subsiding, we will proceed with an Induced
Polarization (“IP”) geophysics program over this anomaly. If the geophysical results support the anomaly,
we will drill this target at the earliest opportunity.”- Commented Andrew Chubb, CEO of Awalé Resources.
Awalé completed a soil and termitaria survey in 2 phases: initially at a 400m x 50m spacing, followed by
infill to a 200m x 50m spacing. All samples were analysed with a portable X -Ray Fluorescence (pXRF)
machine and samples were selected for gold analysis after mapping the anomalous pathfinder elements.
Higher tenor anomalism within the 3.5km tre nd is coincident with a bend in the structural trend, similar
to the BBM discovery. Additionally, there are coincident late intrusive rocks spatially associated with the
change in strike that also show similarities to the BBM discovery.
LINK TO VIDEO DISCUSSION
LINK TO HI RES IMAGES
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Figure 1: Awalé Permits in NW Côte d’Ivoire – Showing new geochemistry area as red box in Awalé’s
100%-owned Sienso permit.
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Figure 2: New 3.5km long > 37 ppb Gold footprint in Awalé’s 100%-owned Sienso Permit. A direct
extension of the BBM disvovery.
100%-Owned Awalé
Sienso’s gold footprint is part of Awalé Resources’ 100%-owned ground. The Company’s Odienné Project
consists of five (5) permits spanning 1,693 km2, all 100% Awalé owned – comprising the permits shown in
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orange in Figure 1 . The Awalé -Newmont Joint Venture (“ OJV”) consists of two additional permits
contiguous within the Odienn é Project and cover a total area of 796 km 2 (hatched permits in Figure 1).
Awalé manages all exploration activities at OJV, with funding provided by Newmont Joint Ventures
Limited (“Newmont”) (see May 31, 2022 news release).
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.
Next Steps for the Sienso Permit
In this quarter, the Company will conduct IP geophysics over the new target area. If the results from the
program align with the geochemical anomaly, an initial drill program will follow in Q1 2025. Surface
Termitaria and Soil geochemistry will continue along the open southern extensions of the anomalies
mentioned in this release as well as new programs along parralel structural targets further east within the
Sienso permit area.
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 undertaken in the underexplored
regions of Côte d'Ivoire, where the Company is focuse d on the Odienné Copper -Gold Project spanning
2,489 km2 in seven permits.
Quality Control and Assurance
pXRF analysis is completed by the company with an Innov -X Vanta Handheld XRF Analyser, samples are
hand crushed and dried where necessary and sieved to -80 mesh (passing 170 micron) and analysed for
90 seconds using 3beam ‘soil mode’. Standards are used in the stream every 50 analyses; field duplicates
are also routinely analysed. Selected samples are sent to the laboratory where analytical work for 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 Company’s secure Odienné office and transported by
Intertek to their laboratory in Tarkwa. Samples are logged in the tracking system, weighed, dried, and
pulverized to better than 85%, passing a 75-micron screen. Samples were fire assayed with an AAS finish.
Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory
performance during the analysis.
Abbreviations Used in this Release
Au Gold
g/t Grams per tonne
ppb parts per billion
km Kilometre
m Metre
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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.
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 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 or
governmental approvals, and ot her 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
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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.