Gold developer West African Resources Limited (ASX, TSXV: WAF) is pleased to report high-grade Diamond drilling results from the M1 deposit, at its 100%-owned Sanbrado Gold Project, Burkina Faso.
Managing Director Richard Hyde commented:
�TAN17-DD111 has returned the best hole to date in the 2017 drilling program with 21m at 53.13 g/t Au from 408.5m including 0..5m at 1,613.41 g/t Au and 0.5m at 530.38 g/t Au and 14.5m at 38.27 g/t Au from 459m.
"Five out of six Diamond holes this year at M1 South have hit extremely high grades over significant
widths which will add to the resource base and have a material impact on project economics.
�It is essential we define the extent of the deposits and maximise the project NPV, before finalising a development strategy and project finance. The board has decided to focus on resource and
extensional drilling for the remainder of 2017, and will revisit development scenarios in the first half of 2018. The Company will complete a resource update in Q3 2017.
�West African currently has 6 rigs on site and is well-funded to complete all of our proposed work programs, with $14m cash bank
and over $7.5m �in-the-money� options.�
Highlights
- High-grade results from depth at M1 South;
� 1,613.41 g/t Au over 0.5m and 530.38 g/t Au over 0.5m within 21m at 53.13 g/t Au from 408.5m
� 104.16 g/t Au over 4.5m within 14.5m at 38.27 g/t Au from 459m
- High-grade mineralisation extended to more than 350m vertical, double
- Six drill rigs currently on-site double shifting, infilling and extending mineralisation
- Resource update Q3 2017
- Well-funded to complete all work programs for 2017, with $14m cash bank and over $7.5m �in-the-money� options.
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www.westafricanresources.com