West African Resources Ltd.

Published : February 01st, 2016

West African hits 19m at 1.9g/t Au from 40m, including 3m at 5.7 g/t Au at M1 from shallow RC drilling

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Keywords :   Australia | Burkina Faso | Diamond | Georgia | Gold | K Street |

West African hits 19m at 1.9g/t Au from 40m, including 3m at 5.7 g/t Au at M1 from shallow RC drilling

Microsoft Word - 160202_M1_Final

Press Release

2nd February 2016

West African hits 19m at 1.9g/t Au from 40m, including 3m at 5.7 g/t Au at M1 from shallow RC drilling

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.


  • RC drilling at M1 north delivers more high grade gold mineralisation

  • Continuity of geology and mineralisation over 250m, within +1.5km mineralised trend

  • Potential to add ounces to existing heap leach Probable Ore Reserve of 440,000oz gold1

  • Further resource definition drilling at M1 and M3 in progress through Q1 2016

  • Updated resource estimate and completion of feasibility studies expected Q2 2016

    Managing Director Richard Hyde commented:

    "Gold mineralisation at M1 North has now been intercepted on consecutive drill-sections over 250m. Mineralisation is open along strike, at depth and will add important ounces to the heap leach starter project, which currently only includes resources from the M5 prospect.

    "We are working on upgrading the new mineralisation from M1 and M3 to resource status. Subsequent inclusion in the project mine plan will improve the economics of the heap leach starter project."

    Continuous shallow gold at M1 North

    Drilling has confirmed continuity of shallow gold mineralisation at the northern end of the M1 mineralised trend. Follow-up drilling has confirmed continuity of gold mineralisation in this area (Figure 1 and 2) with TAN16-RC111 returning a result of 19m at 1.91g/t Au from 40m, including 3m at 5.68 g/t Au and 12m at 1.34g/t Au from 63m. TAN16-RC110 intercepted mineralisation up dip of TAN16-RC111 returning 10m at 3.0g/t Au from 25m. Some holes have intercepted cavities where mineralisation has been stoped out by artisanal mining (e.g. TAN16-RC101). Mineralisation at the M1 North zone can now be traced over 250m and remains open along strike and at depth. Latest results include:

  • TAN16-RC100: 18m at 0.93g/t Au from 21m

  • TAN16-RC101: 13m at 0.51g/t Au from 22m, including 2m cavity

  • TAN16-RC102: 6m at 2.16g/t Au from 48m, and 3m at 4.24g/t Au from 58m

  • TAN16-RC103: 6m at 3.11g/t Au from 23m

  • TAN16-RC104: 10m at 1.68g/t Au from 68m

  • TAN16-RC105: 13m at 0.82g/t Au from 18m

  • TAN16-RC106: 12m at 1.17g/t Au from 40m, and 10m at 1.27g/t Au from 42m

  • TAN16-RC110: 10m at 3.0g/t Au from 25m

  • TAN16-RC111: 19m at 1.91g/t Au from 40m, including 3m at 5.68 g/t Au, and 12m at 1.34g/t Au from 63m

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

1 See page 5 Ore Reserve Table

Figure 1: M1 Cross section - NW0275

Figure 2: M1 Cross section - NW0200

Figure 3: M1 Cross section - NW0100

Recent shallow RC and Diamond drilling by WAF at M1 has returned significant results including:

  • TAC0657: 8m at 1.45g/t Au from 25m

  • TAC0856: 10m at 1.04g/t Au from Surface

  • TAC0887: 8.6m at 1.84g/t Au from 9m

  • TAC0891: 3m at 21.54g/t Au from 10m

  • TAN15-DD28: 14m at 4.5g/t Au, including 3m at 16.2/t Au from 36m

  • TAN16-RC093: 8m at 1.12g/t Au from 24m

  • TAN16-RC094: 12m at 1.42g/t Au from 24m

  • TAN16-RC095: 12m at 1.15g/t Au from 44m

  • TAN16-RC097: 16m at 1.91g/t Au from 56m

  • TAN16-RC098: 16m at 1.28g/t Au from 20m

  • TAN16-RC099: 16m at 5.3g/t Au from 48m including 8m at 9.44g/t Au

    Historic RC and Diamond drilling from M1 has returned significant results including:

  • TAN10-RC-10: 16m at 4.8g/t Au from 56m

  • TAN10-RC-12: 8m at 31.78g/t Au from 58m

  • TAN10-RC-23: 2m at 25g/t Au from 58m

  • TAN11-RC-52: 4m at 16.95g/t Au from 46

TAN12-DD-73: 13.5m at 10.11g/t Au from 56m

Significant Potential to Increase Project Resources

The recently discovered gold mineralisation at the M1 prospect is yet to be included in the project resource inventory. M1 mineralisation will be modelled and incorporated in a resource update with completion of Feasibility Studies expected in Q2 CY2016. Any additional higher grade oxide tonnes will have a positive impact on the project economics (see page 5).

It is expected that oxide mineralisation from M1 and M3 will continue to exhibit similar metallurgical characteristics to M5 oxides (ASX/TSXV: 22/12/2015) and will be amenable to heap leach processing. Follow-up RC and Diamond drilling is in progress and will continue during 2016. Results from recent drilling are shown below in Figures 1 - 4 with results presented in Table 1.

Figure 4: M1 Summary Plan

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Data and Statistics for these countries : Australia | Burkina Faso | Georgia | All
Gold and Silver Prices for these countries : Australia | Burkina Faso | Georgia | 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$ 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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4/26/2016Section 708 Notice
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4/13/2016Trading Halt
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12/14/201515m at 1.2g/t Au including 7m at 2.2g/t Au from 4m at M3
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9/18/2015Company Update
9/1/2015Final Director’s Interest Notice x 2
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6/17/2015West African extends M5 by 1.5km, up to 0.63g/t Au in Auger
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