West African Resources Ltd.

Published : July 17th, 2016

West African hits 1107g/t Au at M1 South

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Keywords :   9/11 | Burkina Faso | Diamond | K Street |

West African hits 1107g/t Au at M1 South

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Press Release

18th July 2016

West African hits 1107g/t Au in Diamond core confirms depth potential at M1 South

Gold developer West African Resources Limited (ASX, TSXV: WAF) is pleased to report further high-grade RC results from the M1 prospect, at its 100%-owned Tanlouka Gold Project, Burkina Faso.


  • 18m at 82.3g/t Au from 98m including 1m at 1107g/t Au in TAN16-DD044 at M1 South

  • 3m at 145.99g/t Au from 125m in TAN16-DD044 at M1 South

  • 4m at 43.16g/t Au from 174m including 1m at 169.7g/t Au in TAN16-DD045 at M1 South

  • Mineral resource studies in progress for M1, M3 and M5 incorporating new results due Q3 2016

  • Feasibility study underway - funded by $12.5m oversubscribed institutional capital raising

    Managing Director Richard Hyde commented:

    "Ultra high-grade gold has been intercepted in Diamond core drilling at M1 South with TAN16-DD044 returning 1m at 1107g/t within 18m grading 82.3g/t Au from 98m down hole.

    "Strong results were also returned from the deepest intercept to date with TAN16-DD045 returning 4m at 43.16g/t Au from 174m including 1m at 169.7g/t Au, confirming depth potential of the prospect.

    Confirmation of high grade gold at M1 South

    Diamond drilling at M1 South has continued to deliver high grade results at M1 South. TAN16-DD044 has returned the best intercept on the project to date returning 18m at 82.28g/t Au from 98m including 1m at 1107.5g/t Au. A further high grade zone was intercepted at 125m down hole returning 3m at 145.99g/t Au.

    TAN16-DD045 was drilled towards 020o through high grade mineralisation at the southernmost high- grade shoot, where late faulting has rotated mineralisation from northwest trending to almost east- most trending. Structures measured in TAN16-DD045 support the current interpretation of steep c. 70o plunge of high grade shoots.

    Importantly, as shown in Photo 1, gold mineralisation is associated with the main deformation event (D2) which is seen elsewhere on the project (M5). Photo 1 shows the free nature of the gold mineralisation in TAN16-DD044 at 107m parallel to the dominant shear fabric, indicating gold mineralisation occurs during the D2 deformation event, therefore is likely to be persistent at depth.

    Principal Office: 14 Southbourne Street, Scarborough WA 6019, Western Australia

    T: + 61 8 9481 7344 F: + 61 8 9481 7355 E: [email protected] www.westafricanresources.com ACN: 121 539 375

    Photo 1: TAN16-DD044 visible gold at 107m & 107.4m depth grading 1107g/t Au.

    TAN16-DD045 100m along strike from TAN16-DD044 has delivered the deepest result on the M1 South system to date returning 4m at 43.16g/t Au from 174m including 1m at 169.7g/t Au, and 2m at 6.64g/t Au from 182m including 1m at 11.5g/t Au. Mineralisation is shown in Photo 2 at 175m depth, with free gold parallel with shearing (D2).

    Further results from recent Diamond drilling at M1 South include:

  • TAN16-DD042: 10m at 0.51g/t Au from 133m

  • TAN16-DD043: 2m at 1.44g/t Au from 34m and;

    • 3m at 2.15g/t Au from 46m and;

    • 2m at 5.18g/t Au from 113m (visible gold logged)

  • TAN16-DD044: 13m at 0.65g/t Au from 81m

    • 18m at 82.28g/t Au from 98m including 1m at 1107.5g/t Au; and

    • 2m at 94.4g/t from 114m

      ­ 3m at 145.99g/t Au from 125m

  • TAN16-DD045: 4m at 43.16g/t Au from 174m including 1m at 169.7g/t Au, and;

    • 2m at 6.64g/t Au from 182m including 1m at 11.5g/t Au

Recent Diamond and RC drilling at M1 South has delivered extremely high grade gold mineralisation over 350m at the southern end of the M1 trend. Recent high grade results from M1 North have reinforced the potential of the broader project. On April 15th 2016, the Company announced a heavily oversubscribed

$12.5m capital raising to fund drilling programs and a CIL feasibility study for the Tanlouka Gold Project.

The Company expects to report a resource update for the project during Q3 2016, which incorporate a maiden resource for M1 and M3, and a resource update for M5. This work will focus on open-pitable mineralisation. Drilling will continue throughout the year with a further resource update to be completed towards the end of the year. It is expected that this update will include deeper drilling targeting the underground potential of M1 prospect and the southwestern portion of the M5 deposit.

The feasibility study is investigating the combination of high grade gold mineralisation from M1 with the predominantly oxide mineralisation from M5. This study is leveraging off the work completed during 2014-15 for the heap leach project.

Cross-sections for TAN16-DD044 andTAN16-DD045 are presented below as Figures 2 and 3, along with an updated long-section through the M1 South mineralised zone and summary plan as Figures 4 and 5. Full results are presented in Table 1.

Photo 2: TAN16-DD045 visible gold at 175m depth grading 169.7g/t Au.

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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$ 484.2 millions as of today (US$ 349.5 millions, € 306.2 millions).

Its stock quote reached its lowest recent point on February 26, 2016 at AU$ 0.05, and its highest recent level on October 16, 2020 at AU$ 1.23.

West African Resources has 484 249 984 shares outstanding.

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