Awalé Resources' Bondoukou Project Continues to Produce Strong Gold Mineralization from their Maiden Drill Program.

March 1, 2018

VANCOUVER, March 1, 2018 /CNW/ - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC) is pleased to announce further results from the Bondoukou Project maiden scout drilling program in Côte d'Ivoire.  These results form the remainder of the initial results as reported on the February 2, 2018.  Continuous strong gold mineralization intercepted at the Fako prospect confirming the large alteration system along the 38km Awari Shear zone, as well as high-grade intercepts at the Casino prospect further North (Figure 1).  Highlights from the latest results include:

  • BERC0019 (Fako) - 18 metres at 1.0 grams/tonne ('g/t') gold ('Au') from 1m downhole.
  • BERC0012(Fako) - 2m at 0.96g/t Au from 17m
  • BERC0050 (Casino) - 6 metres at 5.2 g/t Au (including 1m at 25.4 g/t Au) from 7m downhole.
  • BERC0033 (Casino) - 2 metres at 6.1 g/t tonne Au (including 1 metre at 11.0 g/t Au) from 90m downhole
  • BERC0040 (Casino) - 2 metres at 1.9 g/t Au from 42m downhole
  • BERC0049 (Casino) - 2 metres at 2.4 g/t Au from 26m downhole

 

View attached figures: http://www.awaleresources.com/_resources/maps/CDI_NR_xxMarch2018_Maps_web.pdf

CEO Glen Parsons commented today:

"These latest results for the Fako Prospect, are about 500m along strike from the previously reported drill results. This encouragingly confirms multiple broad mineralized zones at the 6km Fako/Fako South prospects which remain open and within the 38km Awari Shear, which remains largely unexplored.  The Fako prospects represent a large mineralised alteration system along this major structure, which with future drilling and systematic exploration we expect to deliver multiple economic zones.

Furthermore, at the high-grade Casino Prospect 20km to the North, where rock chip samples from Artisanal Workings have previously returned up to 589 grams per tonne gold, a number of thin quartz veins were intercepted including an intercept returning 1m at 25.4 g/t Au.  Follow up drilling is warranted as this drilling appears to have missed the plunge of the main high-grade veins worked by the artisanal miners.

With the planned diamond and auger drilling programs in April we aim to : 1.) Gain a greater understanding of the geometry of this mineralized system at Fako for ongoing RC drill programs and 2.) Define multiple drill targets with our regional work programmes covering known structures and shear zones.  I look forward to keeping the market updated as these results materialise."

Background to the Fako and Casino Drilling

This second round of results completes the maiden drilling for the Fako and Fako south prospects and Eighteen (18) metres at 1 gram per tonne in hole BERC0019 confirms multiple mineralised zones intercepted along 6 strike kilometres within a large alteration system. These results complement the previously reported 2nd Feb 2018) significant intercepts from the Fako and Fako South prospects (Figure 2).

  • BERC0001 – 3 metres at 5.02 g/t 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

 

Further to the additional results, relogging of the drilling has recognised a zoned alteration system from distal epidote chlorite alteration through fuchsite alteration to a silica/sericite core, this zoned alteration is accompanied by an increase in shear intensity, and sulphide occurrence (pyrite +/- chalcopyrite). Figures 3 and 4 are cross sections of holes BERC0019 and BERC0008 showing the alteration system and mineralisation for sections at Fako. Preferred host rocks are intermediate intrusive rocks within a suite of mafic to ultramafic volcanics.

The company is now planning to mobilise a diamond rig before wet season to confirm the geometry of the mineralisation and alteration system.

Initial drilling (Figure 5) at Casino has intercepted mineralisation both down dip and along strike from existing orpaillage where rock chip sampling has returned results of up to 589 grams per tonne gold. Significant intercepts include (Figure 6):

  • BERC0050 (Casino) - 6 metres at 5.19 g/t Au (including 1m at 25.4 g/t Au) from 7m downhole.
  • BERC0033 (Casino) – 2 metres at 6.07 g/t tonne Au (including 1 metre at 11.0 g/t Au) from 90m downhole
  • BERC0040 (Casino) – 2 metres at 1.94 g/t Au from 42m downhole
  • BERC0049 (Casino) - 2 metres at 2.39 g/t Au from 26m downhole

 

The Casino prospect is under cover and a 700m long orpaillage zone defines a NE-SW structural corridor which contains metasedimentary and volcanosedimentary rocks in contact with a granodiorite intrusive. Alteration assemblages are dominated by a widespread and pervasive chlorite alteration, with more intensely silica/sericite altered zones along the intrusive contact and some discrete zones along shear planes in the metasediments.

Quality Control and Assurance

Mineralized 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 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.

Table 1. Technical and assay data for drill holes reported in this release

Hole ID

Prospect

From

to

Width

Gold g/t

East

North

RL

Azimuth

Dip

Total
Depth

BERC0001*

Fako

31

35

4

3.96

545286

928654

260

220

-50

80

 

Including

31

34

3

5.02

 

BERC0002

Fako

No Significant Intercepts 

548515

927033

264.5

220

-50

61

BERC0003

Fako Sth

16

17

1

0.89

548544

927067

263.5

220

-50

90

 

60

61

1

0.25

 

64

65

1

0.61

68

76

8

0.32

BERC0004

Fako Sth

45

54

9

0.46

548565

927095

263

220

-50

82

 

60

61

1

0.26

 

66

67

1

0.39

BERC0005*

Fako Sth

8

11

3

0.73

548489

927000

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

546487

928096

225

220

-50

84

 

Including

26

28

2

1.92

 
 

81

83

2

0.29

BERC0007

Fako

1

2

1

0.26

546452

928067

227

220

-50

60

BERC0008*

Fako

38

42

4

0.48

546644

928023

224

220

-50

80

   

50

52

2

0.25

 
 

60

80

20

0.96

Including

60

62

2

1.60

&

68

72

4

1.62

&

77

80

3

1.98

BERC0009*

Fako

16

23

7

1.20

546659

928051

224

220

-50

60

   

18

19

1

5.46

 

BERC0010

No Significant Intercepts

546518

928125

224

220

-50

66

BERC0011*

Fako

66

68

2

0.26

546801

927965

219

220

-50

90

 

72

81

9

0.27

 

84

89

5

0.41

BERC0012*

Fako

11

14

3

0.37

546766

927928

222

220

-50

84

   

17

19

2

0.96

 

Including

17

18

1

1.47

 

22

24

2

0.31

BERC0013*

No Significant Intercepts

545932

928438

246

220

-50

66

BERC0014*

No Significant Intercepts

545964

928460

247

220

-50

60

BERC0015*

No Significant Intercepts

545987

928487

246

220

-50

60

BERC0016*

No Significant Intercepts

546006

928522

246

220

-50

60

BERC0017*

Fako

28

30

2

0.35

546032

928558

246

220

-50

63

 

Hole ID

Prospect

From

to

Width

Gold g/t

East

North

RL

Azimuth

Dip

Total
Depth

BERC0018

Fako

1

2

1

0.38

545794

928525

254

220

-50

60

BERC0019

Fako

1

19

18

1

545824

928553

257

220

-50

65

 

Including

12

13

1

2.65

 

BERC0020

 

0

7

7

0.365

545853

928580

258

220

-50

60

 

16

22

6

0.369

 

27

29

2

0.52

BERC0021

No Significant Intercepts

545881

928608

255

220

-50

60

BERC0022

Fako

12

13

1

0.44

545146

928949

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

545187

928980

257

220

-50

60

BERC0024*

Elisabeth

1

3

2

1.19

542368

931411

288

200

-50

90

 

67

68

1

0.5

 

BERC0025*

Elisabeth

78

80

2

4.07

542345

931471

288

200

-50

80

BERC0026

Elisabeth

No Significant Intercepts

542595

931364

287

180

-50

86

BERC0027

Elisabeth

61

63

2

0.396

542229

931350

288

360

-50

80

BERC0028

Elisabeth

No Significant Intercepts

542250

931295

288

180

-50

84

BERC0029*

Elisabeth

32

34

2

0.32

541946

931403

288

200

-50

80

BERC0030

Elisabeth

No Significant Intercepts

541918

931303

288

200

-50

90

BERC0031

Casino

55

56

1

0.36

549463

939798

238

140

-50

72

BERC0032

Casino

71

73

2

0.96

549495

939764

238

140

-50

86

BERC0033

Casino

18

19

1

1.52

549522

939723

238

140

-50

144

   

26

27

1

0.562

 

64

65

1

1.03

90

92

2

6.07

Including

91

92

1

11.05

 

108

109

1

0.461

121

122

1

0.548

133

136

3

0.66

139

140

1

0.287

BERC0034

Casino

20

21

1

0.274

549569

939682

238

140

-50

80

 

33

34

1

0.288

           

56

57

1

0.808

           

65

67

2

0.325

           

BERC0035

Casino

48

49

1

0.89

549596

939638

238

140

-50

80

 

56

57

1

0.27

 

66

67

1

0.63

73

75

2

0.5

BERC0036

Casino

43

45

2

0.51

549630

939600

238

140

-50

80

 

57

58

1

0.68

 
 

Hole ID

Prospect

From

to

Width

Gold g/t

East

North

RL

Azimuth

Dip

Total
Depth

BERC0037

Casino

6

7

1

0.33

549667

939564

238

140

-50

90

 

25

26

1

0.43

 

61

64

3

0.66

70

71

1

0.45

80

82

2

0.61

BERC0038

Casino

No Significant Intercepts

549735

939554

236

140

-50

80

BERC0039

Casino

28

30

2

0.54

549771

939517

236

140

-50

80

 

49

51

2

0.87

 

63

64

1

2.11

BERC0040

Casino

12

13

1

0.31

549799

939480

239

140

-50

72

 

48

50

2

1.94

 
 

Including

48

49

1

3.42

BERC0041

Casino

4

5

1

0.31

549357

939684

234

140

-50

84

BERC0042

Casino

7

8

1

0.33

549387

939650

234

140

-50

84

BERC0043

Casino

66

68

2

0.7

549416

939612

234

140

-50

120

 

72

74

2

0.69

 

BERC0044

Casino

No Significant Intercepts

549445

939574

234

140

-50

84

BERC0045

Casino

No Significant Intercepts

549813

939885

226

140

-50

80

BERC0046

Casino

117

118

1

0.79

549800

939898

226

140

-50

132

BERC0047

Casino

No Significant Intercepts

549182

939391

237

140

-50

80

BERC0048

Casino

No Significant Intercepts

549215

939357

239

140

-50

74

BERC0049

Casino

26

28

2

2.39

549694

939772

241

140

-50

72

 

44

45

1

0.32

 

61

62

1

1.27

68

69

1

0.91

BERC0050

Casino

7

13

6

5.19

549642

939824

241

140

-50

126

 

Including

10

11

1

25.40

 
 

96

98

2

0.66

BERC0051

Casino

55

56

1

1.05

549095

939745

225

140

-50

90

BERC0052

Casino

2

3

1

0.32

549121

939711

224

140

-50

90

BERC0053

Ngouan

0

2

2

0.39

548976

942485

204

180.2

-60

100

BERC0054

Ngouan

11

12

1

0.27

549034

942498

198

180

-60

94

 

74

77

3

0.61

 

BERC0055

Ngouan

No Significant Intercepts

548929

942491

219

180

-50

100

BERC0056

Ngouan

No Significant Intercepts

548971

942533

204

180

-50

140

BERC0057

Ngouan

No Significant Intercepts

549111

942502

208

180

-50

108

 

Notes:

 

Holes Highlighted in orange previously reported in release dated 2nd February 2018.

Calculated using a 0.25 gram per tonne trigger with 2m included internal waste - Samples include both 2m composite and 1m split samples

Higher grade included intervals are either a 1m split interval or a composite interval at a 1 gram per tonne trigger.

* Denotes holes that include 2 metre composite sampling, requiring sample re-splitting for 1 metre intervals

 

ON BEHALF OF THE BOARD

AWALE RESOURCES LIMITED.                                                                                    

"Glen Parsons"                                                                                                

Glen Parsons, President and CEO  

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.

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.

Cautionary Statement

NEITHER 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

SOURCE Awale Resources