HIGHLIGHTS
- The Charger zone stands out with some of the highest-grade intercepts in West Africa in the last 12 months, including 32m @ 45.7 g/t Au from 165m downhole in OEDD-83. Awalé is now following up on these high-grade intersections.
- Charger is a near-surface, high-grade gold discovery hosted within a 200m-long breccia corridor.
- Ten holes have been completed at Charger, with drilling on two more in progress, with results expected in April/May 2025.
Toronto, Ontario--(Newsfile Corp. - March 13, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to provide an update on exploration activities at the Charger target within the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire.
Andrew Chubb, CEO of Awalé Resources commented: "Charger has already delivered some of the highest-grade gold intercepts in West Africa, and we believe we are only beginning to unlock its full potential. With the current drill program well underway, we are systematically testing Charger's northeast trending corridor to confirm continuity and volume potential. Drilling to date has consistently intersected the breccia target, warranting an extension of the initial program based on these encouraging observations. This phase of drilling will play a critical role in our broader strategy to define a district-scale gold system at Odienné."
Charger's Geological Model and the Significance of its Hinge Zone
The Company's geological modeling on Charger has identified folding as a key control on high-grade mineralization. Thickening within the hinge zones of these folds has resulted in broader and higher-grade gold intercepts, as demonstrated in recent drill results. The breccia has now been intersected at multiple points along the northeast corridor, with mineralization remaining open both up and down plunge of previously reported intercepts. Additionally, there is potential for multiple fold hinges within the existing mineralized corridor, as well as parallel zones to the southeast, which could further expand Charger's high-grade volume (see November 11, 2024 news release). Charger represents a high-grade gold discovery, and along with other discoveries on the Project-including BBM, Empire, and Sceptre-provides evidence of a potentially large-scale mineralized system within the broader Odienné Project.
Previous standout results include:
- OEDD-83: 57m @ 26 g/t Au from 164m downhole, including 32m @ 45.7 g/t Au from 165m downhole
- OEDD-88: 29m @ 20 g/t Au from 149m downhole, including 8m @ 39.5 g/t Au from 149m downhole
- OEDD-100: 59m @ 14.7 g/t Au from 140m downhole
These exceptional results highlight Charger's potential as a high-grade gold system. The Company's ongoing work has established a 200-metre strike length of mineralization, with significant opportunity for further expansion.
Charger's Current Diamond Drill Program
The current exploration program at Charger is designed to build upon the geological model refined in 2024, which identified structural folding as a key control on gold mineralization.
- Current Drill Activity: The initial 1,500m drill program has been extended to 2,500m, targeting additional high-grade fold hinges that could significantly expand the mineralized corridor. Ten holes have now been completed, with 2 holes remaining. Assay results from Charger are expected in April/May 2025.
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 underway in the underexplored regions of Côte d'Ivoire, where the Company is exploring the Odienné Copper-Gold Project ("Odienné" or the "Project"), covering 2,489 km2 across seven permits. This includes 796 km2 in two permits held under the Awalé-Newmont Joint Venture ("OJV"). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited ("Newmont").
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum mineralized systems 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.
Quality Control and Assurance
Analytical work for geochemistry samples is being carried out at the independent ALS Laboratories in Ghana and Ireland, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags until collected by ALS from the Company's secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Ireland where the sample is analyzed by 52 element ICP/MS with a 4-Acid 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 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 Geoscientists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.
Abbreviations Used in this Release
| Au | Gold |
| g/t | Grams per tonne |
| km | Kilometres |
| m | Metres |
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
a.chubb@awaleresources.com
Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
a.keshishian@awaleresources.com
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 include 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 other 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 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/244432
SOURCE: Awale Resources Ltd.
