West African Resources Ltd.

Published : May 05th, 2016

West African hits 6m at 9.2g/t Au from 15m at M1 South

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Burkina Faso | Diamond | K Street |

West African hits 6m at 9.2g/t Au from 15m at M1 South

Microsoft Word - 160504_M1_Final

Press Release

4th May 2016

West African hits 6m at 9.2g/t Au from 15m including 1m at 49.5g/t Au 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

  • RC drilling returns 6m at 9.2g/t Au from 15m, including 1m at 49.5g/t Au

  • Results over 350m strike, open to the northwest

  • Further round of step-out drilling at M1 North planned

  • Drilling in progress at M1 South targeting deeper mineralisation at 100m vertical

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

Managing Director Richard Hyde commented:

"Infill shallow RC drilling at the M1 South prospect has shown good continuity with strong results from TAN16-RC154 returning 6m at 9.2g/t Au from 15m, including 1m at 49.5g/t Au in the hanging wall zone, and 4m at 6.19g/t Au from 59m, including 2m at 10.36g/t Au in the footwall zone.

"New results confirm continuity of high grade open-pitable gold mineralisation at the M1 South prospect. Deeper drilling is currently in progress at M1 South, with one RC rig and two Diamond rigs working."

Confirmation of high grade gold at M1 South

Drilling has been completed over 350m of strike at M1 South on 25m sections in the top 80m. Infill shallow RC drilling at the M1 South prospect has shown good continuity with strong results from TAN16-RC154 returning 6m at 9.2g/t Au from 15m, including 1m at 49.5g/t Au in the hanging wall zone, and 4m at 6.19g/t Au from 59m, including 2m at 10.36g/t Au in the footwall zone. A follow-up RC and Diamond core program is in progress at M1 South targeting mineralisation at 100 vertical metres depth. Increased drill density is required at M1 South due to late faulting causing mineralised lodes to be offset. Drilling will continue to be completed on 25m sections which will enable WAF geologists to determine plunge orientation of high grade shoots. Latest results presented below include:

  • TAN16-RC148: 12m at 1.67g/t Au from 97m, including 1m at 9.23g/t Au

  • TAN16-RC149: 1m at 27.48g/t Au from 138m

    TAN16-RC152: 1m at 53.29g/t Au from 65m

  • TAN16-RC153: 1m at 10.64g/t Au from 62m

TAN16-RC154: 6m at 9.15g/t Au from 15m, including 1m at 49.47g/t Au

TAN16-RC154: 4m at 6.19g/t Au from 59m, including 2m at 10.36g/t Au

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

All drilling results reported are composited using a trigger of 0.2g/t Au and do not include more than two metres of internal waste (0.2g/t Au). Higher grade intervals reported are composited using a 5g/t Au trigger again with no more than two metres of internal waste (5g/t Au). Further details for interested readers are presented in the footnotes following Table 1 and Section 1 at the back of this announcement.

Figure 1: Tanlouka Gold Project - Mineralised Trends and Prospect Locations

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 (ASX/TSX: 4th & 11th Feb, 1st , 15th , 22nd & 30th March 2016). 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 which will investigate the combination of high grade gold mineralisation from M1 with the predominantly oxide mineralisation from M5. This study will leverage off the work completed during 2014-15 for the heap leach project.

A cross-section through section SE275, long-section through the M1 South mineralised zone and summary plan are presented below as Figures 2 - 4. Full results are presented in Table 1.

Figure 2: M1 Cross section - SE0275

West African Resources Limited

Figure 3: M1 South Long-section

Page: 4

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Burkina Faso | All
Gold and Silver Prices for these countries : Burkina Faso | All

West African Resources Ltd.

EXPLORATION STAGE
CODE : WAF.AX
ISIN : AU000000WAF6
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
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
8/18/2016ISSUE OF SECURITIES WITHOUT A DISCLOSURE DOCUMENT
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...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
AUSTRALIA (WAF.AX)
1.00+3.63%
AUSTRALIA
AU$ 1.00
09/29 11:00 0.040
3.63%
Prev close Open
0.965 1.02
Low High
0.995 1.02
Year l/h YTD var.
0.965 -  1.43 -24.24%
52 week l/h 52 week var.
0.965 -  1.47 2.04%
Volume 1 month var.
5,424,151 -14.53%
24hGold TrendPower© : 9
Produces
Develops
Explores for Gold - Uranium
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20225.82%
2021-9.57%1.160.72
2020143.02%1.230.40
201972.00%0.570.21
2018-37.50%0.480.23
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.02+2.33%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.26+4.15%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.58+1.93%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.10-9.09%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.43-0.41%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 6.98+0.14%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.26+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.30+8.16%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.22+1.37%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 60.13-1.38%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :