West African Resources Ltd.

Published : July 31st, 2017

June 2017 Quarterly Activities and Cashflow Report

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Keywords :   Burkina Faso | Cash | Copper | Diamond | End | Future | Gold | Report | Reserve | Work |
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June 2017 Quarterly Activities and Cashflow Report


West African Resources Limited (ASX: WAF) is pleased to report activities on its 100%-owned gold and copper-gold projects in Burkina Faso, West Africa, for the quarter ending 30 June 2017.


Sanbrado Gold Project

  • High-grade Diamond drilling results from M1 more than 400m down hole
  • Mineralisation at M1 now more than double the average depth of the current reserve
  • Deep drilling at M1 and M5 targeting open zones & infill drilling targeting category upgrades
  • Ground geophysical surveys commenced targeting additional M1-style mineralisation
  • Resource for M1 and M5 update on track for Q3 2017
  • C$17.25m bought deal private placement completed post quarter end

M1 drilling adds further high-grade at depth

  • 22m at 10.5 g/t Au from 373.5m including 1.5 m at 61.7 g/t Au (TAN17-DD110A)
  • 15m at 12.4 g/t Au from 431.5m including 2.5 m at 57.6 g/t Au (TAN17-DD110A)
  • 21m at 53.1 g/t Au from 408.5m including 1 m at 1,071.9 g/t Au (TAN17-DD111)
  • 14.5m at 38.3 g/t Au from 459m including 4.5 m at 104.2 g/t Au (TAN17-DD111)
  • 2.5m at 58.9 g/t Au from 254m including 0.5 m at 280.3 g/t Au (TAN17-DD128)
  • 2.5m at 24.4 g/t Au from 162m including 0.5 m at 64.9 g/t Au (TAN17-DD129)

M5 drilling hits solid mineralisation beneath reserve pit shell

  • 7m at 3.3 g/t Au from 179m (TAN17-DD105B)
  • 20m at 2.1 g/t Au from 178m (TAN17-DD116)
  • 36.5m at 2.5 g/t Au from 320m (TAN17-DD118)
  • 20m at 1.5 g/t Au from 187m (TAN17-DD121)
  • 40.5m at 1.4 g/t Au from 240m (TAN17-DD122)
  • 12m at 3.3 g/t Au from 211m (TAN17-DD126)
  • 37m at 2.4 g/t Au from 298.5m (TAN17-DD127)
  • 25.5m at 1.9 g/t Au from 341.5m (TAN17-DD127)

Managing Director Richard Hyde commented:

�The 2017 June quarter added further value at Sanbrado with ultra-high grade mineralisation intercepted at more than 400m down hole, more than double the reserve depth from the February feasibility study. TAN17-DD111 returned a spectacular result with 1.6 kilograms of gold per tonne over a half metre sample, within 21m at 53.1 g/t Au. A second deeper zone in TAN17-DD111 returned and 14.5m at 38.3 g/t Au including 4.5 m at 104.2 g/t Au."

Late in the June quarter the Company announced a C$17.25m bought deal private placement led by Sprott Capital Partners. The deal subsequently closed post the end of the quarter on 24th July, 2017. The Company now has approximately $26m in cash and is fully funded for all 2017 work programs.

Click here to view the full ASX announcement


Data and Statistics for these countries : Burkina Faso | All
Gold and Silver Prices for these countries : Burkina Faso | All

West African Resources Ltd.

ISIN : AU000000WAF6
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West African Resources is an exploration company based in Australia.

Its main exploration properties are MARANDET in Niger and BOULSA in Burkina Faso.

West African Resources is listed in Australia. Its market capitalisation is AU$ 506.0 millions as of today (US$ 392.3 millions, € 327.4 millions).

Its stock quote reached its lowest recent point on February 26, 2016 at AU$ 0.05, and its highest recent level on July 10, 2020 at AU$ 1.06.

West African Resources has 484 249 984 shares outstanding.

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In the News and Medias of West African Resources Ltd.
7/25/2016in The Australian
Financings of West African Resources Ltd.
8/18/2016Issue of securities
3/25/2011$7 Million Capital RaisingUser-Agent: ExpressionEngine 1.6.9
Nominations of West African Resources Ltd.
2/28/2014Appointment of Colin Jones as Non-Executive Director
Financials of West African Resources Ltd.
10/31/2016Quarterly Activities and Cashflow Report
7/29/2016June 2016 Quarterly Activities Report
5/2/2016March 2016 Quarterly Activities Report
2/14/2016December 2015 Quarter Interim Financial Report
Project news of West African Resources Ltd.
9/14/2016hits 10m at 18.33g/t Au including 1m at 165.14g/t at M1 Sout...
8/1/2016(Tanlouka)Upgrades Mineral Resources as at Tanlouka
2/1/2016West African hits 19m at 1.9g/t Au from 40m, including 3m at...
10/15/2015West African commences drilling at M3 gold discovery
8/16/2015New gold zone returns up to 13g/t Au in auger drilling
6/18/2015Outstanding results at Mankarga 1 prospect – Up to 4g/t Au i...
2/19/2014Acquires Heap Leach Plant Targeting Gold Production 2015
1/20/2014Completes Acquisition of Channel Resources
12/13/2013Channel Receives Final Court Approval for Arrangement With W...
9/26/2013Channel Resources and West African Resources
5/18/2011Further high-grade results at MokteduUser-Agent: ExpressionE...
3/20/2011New high grade gold discoveryUser-Agent: ExpressionEngine 1....
Corporate news of West African Resources Ltd.
7/31/2017June 2017 Quarterly Activities and Cashflow Report
8/25/2016West African Resources Repays US$5m Loan Facility
8/1/2016West African Upgrades Mineral Resources as at Tanlouka
7/27/2016West African hits 41m at 2.2 g/t Au including 8m at 5.7 g/t ...
7/20/2016Clarus Securities initiates coverage on West African Resourc...
7/17/2016West African hits 1107g/t Au at M1 South
6/16/2016West African hits visible gold at 175m, confirms depth poten...
5/13/2016March 2016 Quarter Interim Financial Report
5/13/2016March 2016 Quarter Management Discussion & Analysis
5/11/2016West African hits 14m at 8.7g/t Au from 75m including 1m at ...
5/5/2016West African hits 6m at 9.2g/t Au from 15m at M1 South
4/26/2016Notice of General Meeting/Proxy Form
4/26/2016Section 708 Notice
4/20/2016West African hits 9m at 9.7g/t Au from 112m, including 1m at...
4/13/2016Trading Halt
4/5/2016West African hits 96.3g/t Au at M1 North
12/23/2015Becoming a substantial holder for WAF
12/21/2015Preliminary metallurgical recoveries average 97.5% at M1 and...
12/14/201515m at 1.2g/t Au including 7m at 2.2g/t Au from 4m at M3
9/30/2015Management Discussion & Analysis
9/30/2015Annual Report
9/18/2015Company Update
9/1/2015Final Director’s Interest Notice x 2
7/31/2015June Quarterly Activities Report
6/17/2015West African extends M5 by 1.5km, up to 0.63g/t Au in Auger
10/6/2014West African Resources Limited 72m at 2.2 g/t Au Including 7...
8/19/2014West African Resources Limited 15m at 5.9 g/t Au including 5...
8/12/2014West African Resources Limited Finds Extension of Mankarga 5...
8/6/2014West African Resources Limited West African Oxide Drilling 2...
12/6/2013Acquisition by West African Resources Approved
8/14/2013Letter of Intent for the Acquisition of Channel Resources by...
10/9/2012Hartleys initiates coverage on West African Resources (ASX: ...
7/29/2011June 2011 Quarterly ReportUser-Agent: ExpressionEngine 1.6.9
4/27/2011March 2011 Quarterly ReportUser-Agent: ExpressionEngine 1.6....
1/31/2011December 2010 Quarterly ReportUser-Agent: ExpressionEngine 1...
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