Awalé Hits 2.0 g/t Gold Eq. over 52 Metres at the BBM Zone, Odienné Project
HIGHLIGHTS
Hole OEDD-119 intercepted 52m @ 2.0 grams per tonne ("g/t") gold equivalent ("AuEq.") from 197m,
including 15m @ 3.6 g/t Au, 0.52% Cu, and 479ppm Mo from 208m, and
2m @ 9.3 g/t Au, 0.87% Cu, and 1,206ppm Mo from 215m downhole.
Hole OEDD-122 intercepted 32m @ 1.2 g/t AuEq. from 59m downhole.
Hole OEDD-119 confirms the higher-grade core to mineralization within a 300m wide plunging shoot.
Assays pending for 6 remaining holes from the 22-hole, 6,380m, diamond drill program at BBM.
Toronto, Ontario--(Newsfile Corp. - March 18, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to report results from seven diamond drill holes completed as part of the expanded drill campaign targeting the BBM zone at the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. The drill program, which began in November 2024, is complete with a total of 6,379.9m drilled. The seven drill holes reported are within the east, west, and central parts of the BBM mineralization, where the Company has closed drill spacing to a 100m grid (see drill plans and sections in the link below). Notably, hole OEDD-119 has confirmed the interpreted high-grade mineralization within a 300m wide plunging shoot. Assay results from 6 drill holes of the BBM diamond drill program are still pending.
"We are excited to see continued strong results from BBM, reinforcing the robust gold and copper mineralization at this target. The 52m at 2.0 g/t AuEq. intercept in hole OEDD-119 confirms the plunging higher-grade core to mineralization, particularly with the consistently higher-grade zone at the footwall contact. The BBM system remains open down-plunge, and we look forward to additional results from this diamond drilling campaign, as well as from the completed reverse circulation scout drilling, which tested for satellite targets along strike.
BBM continues to demonstrate its potential, supported by the intensive exploration efforts launched at the start of the 2024-2025 dry season, which are now delivering tangible results-not only at BBM but also across multiple high-priority targets. By systematically advancing these parallel exploration programs, we are unlocking Odienné's broader potential- where we do not view each of our discoveries individually but as part of a greater camp," commented Andrew Chubb, CEO of Awalé Resources.
Link to All Figures
Watch CEO Andrew Chubb Discuss the Results
A full table of significant intercepts from the current release, with drill collar locations for all drilling in this phase at BBM are presented in Table 1 and Table 2, respectively.
Table 1: Significant Intercepts - (from this release)
Hole ID
From(m)
To(m)
Width(m)
Au(g/t)
Cu(%)
Ag(g/t)
Mo(ppm)
AuEq.(g/t) (80%)
Comp Trigger(Au g/t)
OEDD0112
52
64
12
0.3
0.18
0.8
51
0.5
0.2
and
72
87
15
1.5
0.18
0.9
87
1.5
0.2
including
81
85
4
3.9
0.41
2.0
212
3.7
2
OEDD0113
230
259
29
0.3
0.18
0.7
142
0.5
0.2
OEDD0115
352
354
2
0.6
0.41
1.9
45
1.0
0.5
and
376
404
28
0.4
0.15
0.6
162
0.5
0.2
Including
389
398
9
0.8
0.26
1.1
399
1.0
0.5
OEDD0119
182
183
1
0.6
0.17
0.6
51
0.7
0.5
and
197
249
52
1.8
0.50
2.0
322
2.0
0.2
including
197
201
4
2.4
0.33
1.2
301
2.3
0.5
Including
208
249
41
2.0
0.59
2.4
371
2.2
0.5
Including
197
199
2
4.0
0.51
1.9
595
3.8
2.0
Including
208
223
15
3.6
0.52
1.8
479
3.4
2.0
Including
215
215
2
9.3
0.87
3.3
1206
8.4
5.0
OEDD0122
59
91
32
0.5
0.73
1.1
265
1.2
2.0
and
182
202
20
0.4
0.18
0.5
196
0.5
0.2
including
195
200
5
0.7
0.28
0.8
438
0.9
0.5
OEDD0123
59
76
17
0.4
0.25
0.8
89
0.6
0.2
Including
67
74
7
0.7
0.40
1.3
91
1.0
0.5
OEDD0125
172
191
19
0.5
0.20
0.5
110
0.7
0.2
Including
172
173
1
3.0
0.22
0.5
56
2.6
0.5
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.
Table 2: BBM Drilling Collar Cable - (all collars from this program)
Hole ID
Easting
Northing
RL_M
AZIM_TRUE
DIP
EOH_M
Results Received
Comments
OEDD0103
655899
1048090
450
35
-55
197.43
✓OEDD0104
655737
1048029
451
35
-55
452.3
✓OEDD0105
656034
1048010
454
35
-55
182.17
✓OEDD0106
655947
1047877
453
35
-55
434.3
✓OEDD0107
656024
1047863
455
35
-55
30.5Failed Hole
OEDD0108
656027
1047867
453
35
-55
338.2
✓OEDD0109
655999
1047787
455
35
-55
411.13
✓OEDD0110
656075
1047766
457
35
-55
380
✓OEDD0111
656179
1047907
457
35
-55
155.1
✓OEDD0112
656248
1047824
461
35
-55
140.2
✓OEDD0113
656157
1047726
460
44
-56
320.2
✓OEDD0115
656118
1047645
460
35
-55
431.29
✓OEDD0119
655870
1048027
448
35
-55
341.6
✓OEDD0122
655737
1048132
451
35
-55
245.2
✓OEDD0123
656299
1047755
462
35
-55
140.15
✓OEDD0125
656253
1047682
462
35
-55
251
✓OEDD0128
655693
1048160
453
35
-55
275.74
OEDD0129
656211
1047615
448
35
-55
341.15
OEDD0130
655650
1048106
433
35
-55
107.2
OEDD0131
655823
1048362
419
215
-55
360.2
OEDD0132
655566
1048098
424
35
-55
422.2
OEDD0133
655546
1048192
442
35
-55
332.1
OEDD0076
655766
1048079
450
35
-55
344.7690.56m re-entry
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.
Mineralized Interval Calculations
Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the BBM target, initial mineralized zones are calculated at a 0.2 g/t trigger and include up to 3 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 0.5 g/t, 1 g/t, and 2 g/t trigger values, with up to 3 metres of internal waste. Table 1 contains a list of all BBM holes reported in this release. True widths are estimated to be 70% of the downhole widths.
Au Equivalent Calculations
Au Equivalent is calculated using the following parameters in USD: Au - 1910/Oz (Troy), Cu 3.80/lb, Mo 40,000/Tonne, and Ag 23.40/Oz (Troy). The Formula AuEq = Au (g/t) + ((Cu (ppm) * 0.00014) + (Mo (ppm) * 0.00065) + (Ag (g/t)*0.01225)). An 80% metallurgical recovery is assumed for all metals, as the specific recovery rates for individual metals are unclear, and assuming different recoveries would be premature at this stage.
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
Ag
Silver
Au
Gold
AuEq.
Gold Equivalent
Cu
Copper
g/t
Grams per tonne
km
Kilometres
m
Metres
Mo
Molybdenum
ppm
Parts per million
AWALÉ Resources LimitedOn behalf of the Board of Directors
"Andrew Chubb"Chief Executive Officer FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO(+356) 99139117a.chubb@awaleresources.com
Ardem Keshishian, VP Corporate Development+1 (416) 471-5463a.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/244998
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The words, without limitation, "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. Forward-looking statements are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances that are difficult to predict and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statement. Other factors include the risks described under Item 3. "Opportunity and Risk Report — 5.3 Risk," in our audited Annual Report for FY 2023 published on the Company´s website (VIA optronics - Investors - Financials & Filings - Annual Reports). Moreover, new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. Any forward-looking statements contained in this press release are based on the current expectations of VIA's management team and speak only as of the date hereof, and VIA specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. View source version on Contacts Media Contact VIA: Alexandra Müller-PlötzPhone: +49 911 597 575-302Amueller-ploetz@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
