HIGHLIGHTS
- Commenced a 2,600-metre drill program across 25 holes at Lando.
- Lando is a substantial copper geochemical footprint, both in size and tenor, including a 4km-long gold-copper-molybdenum anomaly that will be tested.
- Lando is located 10km northwest of the BBM target and 17km north of the Sceptre target.
- Geological Significance: Lando shares structural similarities with BBM and lies on the northeast side of the same major structure, highlighting its potential within Odienné's broader mineralized system.
Toronto, Ontario--(Newsfile Corp. - March 20, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to announce that it has commenced a 2,600m drill program across 25 holes at the Lando target, a significant 4km-long copper-gold-molybdenum anomaly within the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. Lando represents an opportunity for a potential new discovery at the Project, where the Company is undertaking an aggressive 18,000m drill program this quarter across multiple targets.
Andrew Chubb, CEO of Awalé Resources commented: "The Lando target represents an exciting new opportunity within the Odienné Project. As a high-priority discovery drilling target, Lando is another product of our systematic exploration approach, which continues to deliver high-priority drill targets. We look forward to this drilling bringing Lando into our broader vision for the Project.
Awalé is nearing completion of its 18,000m diamond and reverse circulation drill program planned for the quarter, with results expected from the BBM, Charger, Empire, Fremen, and Lando targets. With each phase of drilling, we are uncovering more of Odienné's potential, and we anticipate further strong results as we progress this emerging gold-copper district."
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Watch CEO Andrew Chubb Discuss the Lando Target
Current Drill Program at Lando
The Company has commenced a 2,600m drill campaign at Lando, comprising approximately 1,000m of diamond drilling and 1,600m of reverse circulation (RC) drilling. This program aims to test the gold-copper-molybdenum anomaly with three main drill fences along 2km of strike within the anomaly's core. Diamond drilling is prioritized in areas of higher topography where RC drilling is challenging, while RC drilling is focused on lower-lying sections across the valley floor. Encouraging chargeability and resistivity anomalies, coinciding with soil geochemistry, further support Lando's potential for a new discovery.
Background on Lando
The Lando target exhibits another substantial copper geochemical footprint, both in size and tenor. This 4km-long copper-gold anomaly is located in the northern region of the Odienné East permit, approximately 10km northwest of the BBM target and 17km north of the Sceptre target. Lando is positioned along a subsidiary structure to the west of the interpreted belt-basin margin, similar to BBM, which lies on a similar structure on the northeast side of the same major domain boundary.
Soil and IP surveys delineated a significant 4km-long chargeable resistive anomaly that conforms with a high-order Cu-Au footprint from soil geochemistry. The Lando footprint consists of a high-tenor copper anomaly (>99ppm Cu) with a 1km core exceeding 387ppm Cu. Gold-in-soil analysis confirmed a 3.5km-long anomaly exceeding 86ppb Au (95th percentile), with a peak value of 921ppb Au within a 1km-long core. The anomalism is supported by rock chip* samples of up to 4.8 g/t Au collected from artisanal workings at the prospect, the anomaly also remains open to the north and south (see August 23, 2022 news release and November 28, 2022 news release).
*Note: Rock chip sampling is selective and not necessarily representative of the overall grade of mineralization for this prospect.
Figure 1: Gold (left) and Copper (right) soil geochemistry for the Lando target.
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The mineralization sits close to a high-strain intrusive contact to the west with the highest grades coincident with a left-stepping flexure of this high-strain zone. Active traditional artisanal gold workings have been located close to the core of the mineralization where they are exploiting quartz breccias with iron oxide fill, presumably after sulphide. The breccias are hosted in a series of high-strain basaltic rocks and schists.
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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 | |
| Cu | Copper | |
| g/t | Grams per tonne | |
| IP | Induced polarization | |
| km | Kilometres | |
| m | Metres | |
| Mo | Molybdenum | |
| ppb | Parts per billion | |
| ppm | Parts per million |
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.
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SOURCE: Awale Resources Ltd.
