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High Grade Gold Mineralization Extension at the Empire Gap Prospect and IOCG Style Mineralization Confirmed at the Charger Prospect

High Grade Gold Mineralization Extension at the Empire Gap Prospect and IOCG Style Mineralization Confirmed at the Charger Prospect

PR Newswire

VANCOUVER, BC , Sept. 1, 2021 /PRNewswire/ - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC) is pleased to report further results from drilling at the Empire and Charger prospects, Odienne Project, Cote d'Ivoire (Figures 1 and 2). Final assay results have now been returned for the last 11 holes completed (3 diamond drill holes/"DDH" and 8 Reverse Circulation/"RC" holes for a total of 1,297m ) with the following highlights:

Empire Prospect – 'Empire Gap' Offset Drilling

Five RC holes and one diamond hole were drilled into a 150m lateral offset (Figure 3 and 4) from the Empire Main discovery known as Empire Gap. This drilling has delineated a further 180m strike potential of new, open and high grade gold mineralisation at the Empire prospect. The combined mineralized strike length for Empire Main and Empire Gap is now approximately 400m .

Highlights

  • OERC-119 – 9 metres ("m") at 1.9 grams per tonne gold ("g/t Au") from 139m downhole including 3m at 3.9 g/t Au from 139m . This RC hole is a 40m step-out west of previously reported hole OERC102 – see Company News Release dated 23 rd June 2021 ) (Figure 5)
  • OERC-118 - 8m at 1.4 g/t Au from 110m downhole including 1 m at 8.4 g/t Au. This RC hole is a 40m step-out east of OERC102.
  • OEDD-39. 2m at 2g/t Au from 164m downhole. This DDH is a 50 metre step back from OERC-102.

This drilling has resulted in the discovery of a new mineralized zone at Empire Gap, with drillholes OERC-118, OERC-119 and OEDD39 all intercepting more than 50 down hole metres of the target 'Empire Diorite' with brittle ductile deformation and associated alteration. Holes drilled along strike east and west have intercepted shorter intervals of diorite within a package of sheared and mineralised volcanic and mylonitic rocks.

The mineralized shear zone defining the Empire Gold Corridor remains open down dip and along strike and future follow up drilling is planned.

Charger Prospect

Three RC holes and 2 diamond holes were completed at Charger (Figures 6 and 7) as follow up to the previously reported 3m at 9 g/t Au and peak copper value of 0.71% (handheld pXRF results) in hole OERC-89 (see Company News Releases dated June 14 , June 30 , and July 22 2021).  The Charger prospect is interpreted by the Company to have all the hallmarks of Iron Oxide Copper Gold "IOCG" systems with strong hematite and magnetite alteration being associated with the gold and copper mineralization.

Highlights

  • OEDD-38 - 6m at 0.3 g/t Au from 24m downhole. Mineralized interval is hosted within a hematite breccia at equivalent position as OERC-89 (See section in Figure 7), and
    • 4m at 1.1 g/t Au from 50m downhole.
  • OERC-124 1m at 1.1 g/t Au from 51m downhole within a 40-metre-wide hematite alteration zone

The IOCG style mineralization at Charger is now interpreted to tie in with district scale copper and base metal anomalism identified by Awale within the Odienné Project area (Figure 2).  Approximately 3 km north of the Charger discovery lies a >5 km long Cu-Au soil anomaly with impressive Cu values up to 0.18% and known as the Sceptre Target. This anomaly was delineated using a combination of Company and former Randgold Resources (now Barrick) legacy data sourced by the company (see release dated August 10 th 2021)

See Figures : http://www.awaleresources.com/_resources/maps/2021_08_24_Figures_Empire_Drilling_Update_Final.pdf

Company CEO Glen Parsons commented today:

"Follow up drilling has now confirmed at least 180m of new, open mineralisation on an offset extension to the Empire Main mineralisation. There are very few holes in this new zone and most have returned encouraging results with high-grade gold, 'Empire style' mineralisation and alteration. Follow up drilling is planned as we now chase the Empire Corridor style as well as the exciting new Charger style mineralization.

Following the discovery at Charger we continue to explore and develop the potential of IOCG systems within the Odienné project. As previously reported, strong copper anomalism exists to the north of the Empire Corridor with a significant 5km copper with gold anomaly at the "Sceptre Prospect" advancing to drill ready status.

The 4 th Quarter will be a productive one for Awale, geochemical sampling is currently underway over the greater Charger prospect area as well as the new Sceptre target. This work will be complemented with permit wide Aerial Magnetic and radiometric surveys planned for Q4 2021 as well as ground gravity surveys over the Charger prospect. These works will culminate with Q4 drilling of the new targets at Sceptre and Sceptre East as well as follow up drilling at the Charger prospect and the Empire Corridor."



Table  1: All Significant Intercepts from this Charger and Empire Offset Program (Gap Targets)

HOLEID

East

North

RL

Dip

Azi

EOH

From

To

Length

Au g/t

Prospect

OEDD0038

647,791

1,032,306

468

-50

292

57.4

4.1

4.2

1.1

0.2

Charger

OEDD0038



15.5

22

24

50

18

23

30

54

2.5

1

6

4

0.3

0.2

0.3

1.1

Charger

Charger

Charger

Charger

OEDD0038

OEDD0038

OEDD0038

OEDD0039

647,561

1,029,980

478

-52

360

219

164

166

2

2.0

Gap

OEDD0039



176

183

177

185

1

2

0.5

0.5

Gap

Gap

OEDD0039

OEDD0040

647,755

1,032,249

472

-54

18

135

0

1.4

1.4

0.3

Charger

OEDD0040



40

42

2

0.5

Charger

OERC0118

647,595

1,030,028

479

-53

360

160

39

40

1

0.3

Gap

OERC0118



41

46

51

80

89

93

99

103

110

42

48

53

81

90

94

100

104

118

1

2

2

1

1

1

1

1

8

0.2

0.2

0.8

0.2

3.8

0.6

0.2

0.3

1.4

Gap

Gap

Gap

Gap

Gap

Gap

Gap

Gap

Gap

OERC0118

OERC0118

OERC0118

OERC0118

OERC0118

OERC0118

OERC0118

OERC0118

OERC0118



Including

116

118

2

4.5



OERC0118



129

134

5

0.8

Gap

OERC0119

647,521

1,030,025

477

-52

360

160

27

28

1

0.3

Gap

OERC0119



78

99

105

110

123

128

136

139

80

100

106

111

124

131

137

148

2

1

1

1

1

3

1

9

1.2

0.3

1.9

0.2

0.2

0.3

0.3

1.9

Gap

Gap

Gap

Gap

Gap

Gap

Gap

Gap

OERC0119

OERC0119

OERC0119

OERC0119

OERC0119

OERC0119

OERC0119

OERC0119



Including

139

142

3

3.9

Gap

OERC0120

647,655

1,030,163

479

-52

180

163

45

46

1

0.3

Gap

OERC0120



61

65

75

62

69

76

1

4

1

0.2

1.0

0.3

Gap

Gap

Gap

OERC0120

OERC0120

OERC0121

647,481

1,030,026

475

-52

360

160

37

39

2

0.6

Gap

OERC0121



114

117

116

119

2

2

0.3

0.2

Gap

Gap

OERC0121

OERC0122

647,561

1,029,980

478

-52

360

41.8

Failed Hole - No Significant Values

OERC0123

647,882

1,032,266

466

-55

292

84

3

4

1

0.7

Gap

OERC0123



53

57

61

63

70

54

59

62

68

71

1

2

1

5

1

0.5

0.3

0.2

0.5

0.4

Charger

Charger

Charger

Charger

Charger

OERC0123

OERC0123

OERC0123

OERC0123

OERC0124

647,781

1,032,340

469

-54

198

100

46

47

1

0.4

Charger

OERC0124



51

54

3

0.6

Charger

* Significant Intercepts calculated using a 0.2 g/t Au trigger value and include 2m of internal waste. No High Cuts.

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.

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 18 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

Cision View original content: https://www.prnewswire.com/news-releases/high-grade-gold-mineralization-extension-at-the-empire-gap-prospect-and-iocg-style-mineralization-confirmed-at-the-charger-prospect-301367019.html

SOURCE Awale Resources