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 a 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$ 685.2 millions as of today (US$ 494.5 millions, € 433.2 millions).

Its stock quote reached its lowest recent point on February 26, 2016 at AU$ 0.05, and its highest recent level on November 19, 2021 at AU$ 1.47.

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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