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Diamond Twin Drillhole on High Grade Mineralization Completed at Charger, Odienné Project - Cote d'Ivoire

Diamond Twin Drillhole on High Grade Mineralization Completed at Charger, Odienné Project - Cote d'Ivoire

Canada NewsWire

VANCOUVER, BC , June 30, 2021 /CNW/ - Awalé Resources Limited (" Awalé " or the " Company ") (TSXV: ARIC) is pleased to report that follow-up diamond drilling is now underway at the Company's 100%-owned Odienné Project in Cote d'Ivoire . The first hole completed (OEDD-38) is a diamond twin hole of Charger Reverse Circulation hole OERC-89 and is interpreted to have successfully intersected the equivalent to the high-grade gold mineralization reported in OERC-89 (see Company News Release dated June 14, 2021 ; Figure 1). Assays reported from OERC-89 included:

OERC-89

1m @ 20.3 grams/tonne ("g/t") gold ("Au") from 16m downhole, plus

3m @ 9.0 g/t Au from 30m downhole

Diamond twin hole (OEDD-38) has intersected 5 meters of a sulfide-bearing iron breccia from 24 meters down hole (Figure 2; assays pending) in a corresponding downhole position to the high-grade mineralization previously reported in OERC-89. The Company will commence drill testing a fold plunge model as follow up to OEDD-38 later this week.

Figure 1. Reverse circulation drill chips of high-grade gold mineralization in OERC-89 ( 3m at 9 g/t Au from 30m downhole).

Figure 2. Sulfide-bearing Iron Breccia (with hematite and chlorite) at approximately 25m downhole in OEDD-38. Core is HQ or 6.3cm in diameter.

Company CEO Glen Parsons commented today:

"Seeing the extensive alteration system around these high grade, fresh rock results at Charger gives us an exciting high-grade target to understand and chase. We look forward to developing our understanding of this intensely iron altered hydrothermal breccia as the potential core of mineralization by reviewing the core and subsequent analysis from the newly planned plunge test drilling.

We see a busy period for us going forward with the ongoing reporting of results from the Bondoukou scout drilling program in the ensuing weeks as well as results from this follow up drilling at the Charger and Empire Main targets."

Table 1: Drill Collar location for OEDD-38 Assays are pending.

Hole ID

East

North

RL

Azimuth

Dip

EOH Depth

Comment

OEDD-38

647790

1032309

478

292

-50

57.4

Assays Pending

Quality Control and Assurance

Analytical work for auger 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 Bondoukou or Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro , Cote d'Ivoire 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 Ghana where a 50g charge is Fire Assayed with an AAS finish. 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

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

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SOURCE Awale Resources

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