Press Release
15th November 2016
West African hits 5m at 30.28 g/t Au and 14m at 11.82 g/t Au from 216m 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.
Highlights
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Further high-grade results at M1 South; 5m at 30.28 g/t Au and 14m at 11.82 g/t Au from 216m
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Deepest results to date, outside current resource area, down dip of previous drilling
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New results to be included in resource update in Q4 2016
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Feasibility study on track for completion in Q4 2016, reporting Q1 2017
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$19.5m cash at bank and no debt
Managing Director Richard Hyde commented:
"Extensional drilling at M1 South has intercepted further high grade mineralisation beneath the current resource area, returning 5m at 30.28 g/t Au from 216m and 14m at 11.82 g/t Au from 216m in Diamond hole TAN16-DD063.
"Diamond drilling continues to demonstrate continuity of very high grade mineralisation at M1 South. An updated resource is on track for Q4 2016, in parallel with completion of feasibility studies for the open pit component of the project."
M1 South Drilling at Depth
Diamond drilling is in progress at M1 South with the aim of extending mineralisation beneath the current resource. Drilling is being completed using two multipurpose contract rigs operating double shift, in parallel with WAF's two Diamond rigs operating on a single shift basis. Drilling is being completed on 25m by 50m grid along 350m strike. High grade in TAN16-DD063 located southeast and down plunge of 16m at 69.1g/t Au including 2m at 315.3g/t Au from 209m in TAN16-DD055 (ASX/TSXV: 15/10/16). Significant results from the on-going drilling program include:
TAN16-DD060 4m at 6.74 g/t Au from 197m
TAN16-DD062 10m at 2.94 g/t Au from 207m
TAN16-DD063 5m at 30.28 g/t Au from 216m, including 1m at 104.95 g/t Au
TAN16-DD063 14m at 11.82 g/t Au from 224m, including 1m at 131.80 g/t Au
TAN16-DD066 2m at 17.85 g/t Au from 257m
TAN16-DD066 15m at 2.45 g/t Au from 262m
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
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Table 1: Tanlouka Gold Project M1 South Diamond Drilling TAN16-DD063 One Metre Results
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Hole ID
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From (m)
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To (m)
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Sample Id
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Au g/t
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Hole ID
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From (m)
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To (m)
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Sample Id
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Au g/t
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TAN16-DD063
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215
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216
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218184
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0.07
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TAN16-DD063
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228
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229
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218198
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0.22
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TAN16-DD063
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216
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217
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218185
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4.48
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TAN16-DD063
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229
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230
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218199
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0.44
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TAN16-DD063
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217
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218
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218186
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11.59
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TAN16-DD063
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230
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231
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218202
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0.52
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TAN16-DD063
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218
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219
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218187
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29.23
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TAN16-DD063
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231
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232
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218203
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3.49
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TAN16-DD063
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219
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220
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218188
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104.95
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TAN16-DD063
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232
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233
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218204
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131.80
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TAN16-DD063
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220
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221
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218189
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1.14
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TAN16-DD063
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233
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234
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218205
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2.90
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TAN16-DD063
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221
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222
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218191
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0.15
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TAN16-DD063
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234
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235
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218206
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0.45
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TAN16-DD063
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222
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223
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218192
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0.07
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TAN16-DD063
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235
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236
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218207
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2.61
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TAN16-DD063
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223
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224
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218193
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0.15
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TAN16-DD063
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236
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237
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218208
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2.22
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TAN16-DD063
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224
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225
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218194
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1.51
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TAN16-DD063
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237
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238
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218209
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3.16
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TAN16-DD063
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225
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226
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218195
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15.02
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TAN16-DD063
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238
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239
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218210
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0.06
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TAN16-DD063
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226
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227
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218196
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0.58
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TAN16-DD063
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239
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240
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218211
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0.31
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TAN16-DD063
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227
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228
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218197
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0.56
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Infill Resource Drilling at M5
In July, the Company reported infill RC drilling aimed at improving the resource category at M5 (ASX/TSXV 28/7/16). This drilling was suspended due to heavy rains causing access issues with ground conditions. However, several of these holes were also stopped early due to water ingress. These holes are currently being extended with Diamond tails using WAF's two company-owned Diamond rigs. Significant results that will be included in updated resource estimation studies in Q4 2016 include:
TAN16-DD058 22m at 2.0 g/t Au from 58m
TAN16-RC189 ended in 5m at 4.12 g/t Au - extended by TAN16-DD059 returning 15.25m at 2.6g/t Au, overall intercept now 20.25m at 2.98 g/t Au
TAN16-RC202 returned 81m at 1.12 g/t Au from 11m, including 8m at 3.72 g/t Au - extended by TAN16-DD064 and returned a further 7m at 0.78 g/t Au from 126m and 8m at 1.09 g/t Au from 136m
None of these results have been included in the current resource estimation studies planned for release in Q4 2016. A summary plan and sections for M1 South are presented below. Full results are presented in Table 1 and Table 2.
Figure 1: Tanlouka Gold Project - Mineralised Trends and Prospect Locations
Figure 2: M1 South Summary Plan