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The Market Online
29-05-2025
- Business
- The Market Online
Fortuna Mining de-risks junior gold stock with new investment
Fortuna Mining (TSX:FVI), a gold and silver company across multiple emerging markets, invested C$8.25 million at C$0.55 per share into Awalé Resources (TSXV:ARIC), a copper-gold explorer in Côte d'Ivoire, representing a 15-per-cent stake in the company on an undiluted basis Fortuna joins existing high-profile investors Orecap Invest and Newmont Corporation Awalé Resources stock is down by 27.54 per cent year-over-year and 37.50 per cent since 2020 Fortuna Mining (TSX:FVI), a gold and silver company across multiple emerging markets, invested C$8.25 million at C$0.55 per share into Awalé Resources (TSXV:ARIC), a copper-gold explorer in Côte d'Ivoire, representing a 15-per-cent stake in the company on an undiluted basis. Awalé will allocate the proceeds to continued exploration on its 2,346-square-kilometre Odienné project, which management believes to hold the potential for the discovery of West Africa's first major iron-oxide-copper-gold deposit. Fortuna will form a joint technical advisory committee with Awalé, bringing its proven operational expertise in Côte d'Ivoire to the table, and be granted the right to maintain its pro-rata ownership, both privileges contingent on its investment remaining at a minimum of 10 per cent of issued and outstanding shares. According to Thursday's news release, the transaction is expected to close by June 20, 2025, with shares subject to a customary four-month sale restriction. Awalé will issue a news release should existing shareholders Orecap Invest (TSXV:OCI) and Newmont Corporation (TSX:NGT) elect to top up their stakes on the same terms. The latter's 797-square-kilometre Awalé-Newmont Joint Venture within the Odienné project has yielded four gold, gold-copper and gold-copper-silver-molybdenum mineralized systems to date. Leadership insights 'We are extremely pleased to welcome Fortuna Mining as a strategic investor,' Andrew Chubb, Awalé Resources' chief executive officer, said in a statement. 'As an established and successful operator with a strong presence in West Africa and particularly in Côte d'Ivoire, Fortuna's investment is a strong endorsement of our technical team, our exploration approach and our clear vision for the Odienné district. This investment positions the company strategically as we launch intensive exploration on our 100-per-cent-owned ground.' About Awalé Resources Awalé is a mineral exploration company dedicated to discovering large high-grade gold and copper-gold deposits in mining friendly Côte d'Ivoire. Awalé Resources stock (TSXV:ARIC) is up by 16.28 per cent on the news trading at C$0.50 as of 10:17 am ET. The stock is down by 27.54 per cent year-over-year and 37.50 per cent since 2020. Join the discussion: Find out what everybody's saying about this African gold and copper stock on the Awalé Resources Ltd. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
12-05-2025
- Business
- Yahoo
Awalé Hits 5.2 g/t Gold over 15 Metres Among Multiple High-Grade Intercepts at the Empire Target, Odienné Project
HIGHLIGHTS 15m @ 5.2 g/t gold from 215m downhole in hole OEDD-127 16m @ 3.0 g/t gold from 44m in hole OEDD-114 19m @ 2.3 g/t gold from 76m in hole OEDD-124 39m @ 1.4 g/t gold from 97m in hole OEDD-126 Notable previous results include 15m @ 13.1 g/t gold in hole OEDD-24 Empire is a high-grade target on a 20 km-long corridor located 3 km from Charger Toronto, Ontario--(Newsfile Corp. - May 12, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to report assay results from 1,168m of diamond drilling in six holes at the high-grade Empire target, Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. Empire had not been drilled since 2020, and Awalé was excited to return to this highly prospective target, located just 2.5 kilometres from the Charger discovery. These two nearby zones are part of four discoveries made to date at the Project, underscoring its district-scale potential. All holes intersected significant mineralization, including OEDD-127 which returned 15m @ 5.2 grams per tonne ("g/t") gold ("Au") from 215m, including 10m @ 7.5 g/t Au from 215m. This intercept is significant as it is located at a similar depth to hole OEDD-15 and shows the potential of further high-grade mineralization at depth on the Empire zone. The updated geology model also suggests that other zones may be open to the southeast. Exploration to date has covered only 5 km of Empire's 20 km trend, with significant potential for further expansion. In this program, the Company targeted the top 120 vertical metres to refine the structural model of the discovery and drill hole OEDD-127 has extended down plunge mineralization to a vertical depth of approximately 200m. "Empire was Awalé's first high-grade gold discovery, and we're excited to resume drilling where we left off with significant mineralization similar in nature to our previous programs in 2019 and 2020. We are particularly happy to see the result of 5.2 g/t gold over 15 metres in OEDD-127 demonstrating that the system remains open at depth, with our new interpretation indicating further expansion potential along strike to the southeast. Bringing Empire back into play reinforces our confidence in the district-scale potential of the Odienné Project," commented Andrew Chubb, CEO of Awalé Resources. Link to All Figures Watch CEO Andrew Chubb Discuss Empire How Empire Fits into Odienné Empire is Awalé's first discovery from the first drill program on the Odienné Project in 2019. It is a high-grade gold discovery that sits within a 20 km WNW (west-northwest) trending structure corridor, and 2.5 km south of the Charger discovery. The Company has now demonstrated that the Odienné Project lies within a large plumbing system where multiple discoveries have been made. Taken together, these discoveries form the potential for a mining camp where multiple sites would feed a central processing facility, Empire is a high-grade discovery that is part of this vision. Background on Empire Previous drilling highlighted below confirmed robust mineralization extending to 125m vertical depth, with high-grade gold intercepts remaining open at depth and along strike. The Empire Main discovery is characterized by multiphase deformation, alteration, and veining with early potassic alteration +/- Au and pyrite, calc silicate alteration (rare garnet, clinopyroxene, and pyrrhotite), carbonate and silica sericite alteration. The observed free gold is likely late and associated with the final silica-carbonate-sericite phase. Prior to the Newmont exploration agreement, Awalé drilled 8,377m in 68 holes over multiple phases at Empire. Highlights from the previous Empire drill campaigns included: OEDD-01: 18.15m @ 4.9 g/t Au from 40m downhole OEDD-02: 27m @ 3.1 g/t Au from 43.2m downhole OEDD-09: 17m @ 2.6 g/t Au from 40m downhole OERC-21: 18m @ 3 g/t Au from 97m downhole and 2m @ 15.5 g/t Au from 111m downhole OEDD-24: 15m @ 13.1 g/t Au from 69m downhole OEDD-18: 11m @ 4.9 g/t Au from 40m downhole OEDD-16: 17m @ 3.5 g/t Au from 86m downhole OEDD-32: 22m @ 3.8 g/t Au from 92m downhole OEDD-31: 16m @ 2 g/t Au from 45m downhole OEDD-37: 68m @ 2.4 g/t Au from surface (0m) Details on Empire's previous drill results are available in news releases date February 26, 2020, October 28, 2020, and December 15, 2020. Table 1: Significant intercepts and collar details for all 6 drill holes from this news release Hole ID From(m) To(m) Length(m) Au(g/t) CompositeTrigger(g/t) Easting Northing RL_M Azim-True Dip EOH_M OEDD0114 0 6.5 6.5 4.0 0.5 647,497 1,030,232 474 0 -55 152.35 including 3 5 2 11.6 514 15.5 1.5 1.1 0.520.5 21 0.5 0.7 0.535 36 1 0.6 0.544 60 16 3.0 0.5 including 49 54 5 5.3 5 and 53 54 1 16.1 1077 78 1 1.0 0.592 93 1 12.3 0.5 OEDD0116 24 34 10 1.0 0.5 647,458 1,030,246 474 0 -55 167.2440 62 22 1.5 0.5 including 46 51 5 3.3 2 and 46 47 1 6.4 5 and 48 49 1 7.1 566 68 2 1.3 0.5 OEDD0117 0 8 8 0.8 0.5 647,421 1,030,252 472 0 -55 116.2313 14 1 0.5 0.519 20 1 3.4 0.529 30 1 5.8 0.535 36 1 2.7 0.540 41 1 0.8 0.547 49 2 1.4 0.5 OEDD0124 36 37 1 1.0 0.5 647,395 1,030,209 472 0 -55 209.1555 64 9 0.6 0.569 70 1 0.5 0.576 95 19 2.3 0.5 including 83 87 4 6.1 2 and 83 84 1 18.7 5 and 93 95 2 6.6 2 and 93 94 1 9.7 5102 103 1 1.1 0.5109 110 1 1.1 0.5 OEDD0126 8 9.5 1.5 0.8 0.5 647,459 1,030,192 475 0 -55 230.142 44 2 6.6 0.5 including 43 44 1 11.6 1050 51 1 0.5 0.597 136 39 1.4 0.5 including 115 132 17 2.7 2 and 119 120 1 21.7 10145 150 5 8.3 0.5 including 145 146 1 24.4 10 and 147 148 1 13.5 10 OEDD0127 102 109 7 0.8 0.5 647,472 1,030,138 475 0 -55 293.15118 119 1 0.7 0.5123 124 1 0.8 0.5144 146 2 3.0 0.5164 165 1 0.7 0.5175 176 1 0.5 0.5183 191 8 0.7 0.5201 202 1 1.4 0.5210 211 1 0.6 0.5215 230 15 5.2 0.5 including 215 225 10 7.5 2 and 215 216 1 27.2 10 and 220 221 1 15.6 10237 239 2 2.3 0.5253 267 14 0.5 0.5271 273 2 1.7 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 2,346 km2 across seven permits-five granted and two applications. This includes 797 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. Fire Assay results above 5 g/t are routinely screen fire assayed and those results used in reported intervals. Sampled core is dominantly NQ diameter sampled at 1 metre intervals, with HQ diameter in pre collars sampled at 0.5 to 1.5m intervals depending on recovery. All sampling is half core. Mineralized Interval Calculations Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the Empire target, initial mineralized zones are calculated at a 0.5 g/t Au trigger and include up to 3 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 2 g/t, 5 g/t and 10 g/t Au trigger values, with up to 3 metres of internal waste. Table 1 contains a list of all Empire holes reported in this release. True widths are estimated to be 70% of the downhole widths. 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 km2 Kilometres square 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) Ardem Keshishian, VP Corporate Development+1 (416) The Company's public documents may be accessed at For further information on the Company, please visit our website at 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 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 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
Yahoo
20-03-2025
- Business
- Yahoo
Awalé Commences Drilling at the Lando Target, Odienné Project
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." Cannot view this video? Visit: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. To view an enhanced version of this graphic, please visit: 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. To view an enhanced version of this graphic, please visit: 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 LimitedOn behalf of the Board of Directors "Andrew Chubb"Chief Executive Officer FOR FURTHER INFORMATION, PLEASE CONTACT:Andrew Chubb, CEO(+356) Ardem Keshishian, VP Corporate Development+1 (416) The Company's public documents may be accessed at For further information on the Company, please visit our website at 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 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 Sign in to access your portfolio
Yahoo
18-03-2025
- Business
- Yahoo
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) Ardem Keshishian, VP Corporate Development+1 (416) The Company's public documents may be accessed at For further information on the Company, please visit our website at 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 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
Yahoo
27-02-2025
- Business
- Yahoo
Awalé Provides Progress Update for Odienné Project
HIGHLIGHTS Completed 2,014m scout RC drill program across 22 holes over high-priority geochemical and IP anomalies at the 100%-owned Fremen target, with initial results expected in April 2025. Completed a 150-line-km IP geophysics survey covering over 15km of strike along the BBM trend, with final processed images expected in March 2025. Commenced up to 4,000m of RC drilling on the BBM extensions, with initial results expected in April/May 2025. Completed 6,380m of DD across 22 holes and one re-entry hole at BBM. Continuing with 2,500m of DD in 10 holes at Charger, testing the fold model, with results expected in April/May 2025. Completed 1,168m of DD in 6 holes at Empire, targeting the top 120 vertical metres to increase confidence in the structural model, with results expected in April/May 2025. Preparing to commence drill program at Lando, with a plan for 5 DD holes for 1,000m and 20 RC holes for 1,600m. Toronto, Ontario--(Newsfile Corp. - February 27, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to provide an update on its exploration activities at the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire (Figure 1). At the start of the year, the Company set an ambitious work program that included commencing drilling at its 100%-owned Fremen property, advancing de-risking efforts at the BBM and Charger targets, resuming work on the Empire and Lando targets, and expanding its regional exploration focus to unlock the full potential of Odienné. Andrew Chubb, CEO of Awalé Resources, commented: "With multiple active exploration fronts, Awalé remains committed to delivering consistent updates and advancing its high-grade gold-copper targets at Odienné. Most recently, the completion of 2,014m of drilling at the 100%-owned Fremen target and geophysics along the BBM trend mark another important milestone in our systematic exploration approach to unlocking the potential of the Odienné Project. We look forward to updating the market as results become available and as we continue advancing exploration of the Odienné Project." Current Target Summary Fremen Target (100% Awalé) Completed 2,014m scout reverse circulation ("RC") drill program across 22 holes over high-priority geochemical and IP anomalies (Figure 2), with initial results expected in April 2025. BBM extensions Commenced up to 4,000m of RC drilling on the BBM extensions, targeting key structural trends identified from previous drilling and geophysical surveys, with initial results expected in April/May 2025. BBM trend Completed a 150-line-km Induced Polarization ("IP") geophysics survey covering over 15km of strike along the BBM trend, extending from the Fremen target in the southeast to the recently identified Boba and Fett targets in the north (Figure 3), with final processed images expected in March 2025. BBM Target Completed a total of 6,379.9m of diamond drilling across 22 holes and one re-entry hole, with pending assay results from 18 drill holes. Results continue to meet expectations, returning robust gold and copper mineralization with consistent broad width and grade and further confirming the continuity of mineralization at BBM and its potential as a significant near-surface resource. Charger Target Drilling continues with 2,500m of DD in 10 holes, testing the fold model, which has previously returned 57m @ 26 g/t Au in hole OEDD-83 and 59m @14.7 g/t Au in OEDD-100. Eight holes have been completed, with results expected in April/May 2025. Empire Target Empire was the Company's first high-grade gold discovery, with previous results including 15m @ 13.1 g/t Au in hole OEDD-24. Exploration had covered approximately only 5km of 20km trend. Completed 1,168m of DD in 6 holes at Empire, targeting the top 120 vertical metres to increase confidence in the structural model, with results expected in April/May 2025. Lando Target Lando is a large 4km-long copper-gold soil anomaly, located 10km northwest of BBM. Preparing to commence a 5 DD holes for a 1,000m and 20 RC holes for 1,600m program. Figure 1: The Odienné Project - 2,462 square kilometres, showing targets for the project area. To view an enhanced version of this graphic, please visit: Figure 2: Induced Polarization 'Chargeability' image with the BBM and Fremen gold footprint superimposed in red. Drilled RC lines for the Fremen target are shown as black lines P1 to P4. Top right in an inset of the Fremen target. To view an enhanced version of this graphic, please visit: Figure 3: The 15km-long BBM shear - A 15km trend with Fremen to the southeast, BBM, and Boba and Fett targets to the north. To view an enhanced version of this graphic, please visit: 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 focused on 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 discoveries within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024. The 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. Abbreviations Used in this Release Au Gold DD Diamond drilling g/t Grams per tonne IP Induced Polarization RC Reverse circulation km Kilometres m Metres 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. AWALÉ Resources LimitedOn behalf of the Board of Directors "Andrew Chubb"Chief Executive Officer FOR FURTHER INFORMATION, PLEASE CONTACT:Andrew Chubb, CEO(+356) Ardem Keshishian, VP Corporate Development+1 (416) The Company's public documents may be accessed at For further information on the Company, please visit our website at 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 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 Sign in to access your portfolio
