West African Resources Ltd.

Published : April 05th, 2016

West African hits 96.3g/t Au at M1 North

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Keywords :   Burkina Faso | Diamond | K Street | Silica |

West African hits 96.3g/t Au at M1 North

Microsoft Word - 160406_M1_Final

Press Release

6th April 2016

West African hits 96.3g/t Au at M1 North

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 returns 20m at 5.8g/t Au from 68m, including 1m at 96.3g/t Au

  • Results over 300m strike, open to the northwest

  • Seven holes completed at M1 North - visible gold logged in TAN16-RC141. Assays pending

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

  • Resource definition and step-out drilling at M1 prospects in progress - further results imminent

Managing Director Richard Hyde commented:

"Deeper RC drilling in the northwest of the M1 prospect has delivered strong results with TAN16-RC136 returning 20m at 5.8g/t Au from 68m, including 1m at 96.3g/t Au.

TAN16-RC137 down-dip of TAN16-RC136 returned 12m at 5g/t Au from 104m, including 6m at 8.2g/t Au

"New results confirm continuity of high grade open-pitable gold mineralisation at the M1 North prospect over at least 300m.

"Step-out drilling has been planned, RC and Diamond drilling is in progress and further results are imminent."

Confirmation of high grade gold at M1 North

Drilling has been completed over 300m of strike at M1 North targeting results from early 2016 (TAN16- RC93-111, ASX/TSXV: 22/1/2016 & 2/2/2016), many of which returned lower than expected results due to holes intercepting open stopes and backfill material. The Ausdrill RC rig has finished a second round of deeper drilling at M1 North, where a further 7 holes are awaiting assay results. A follow-up RC and Diamond core program has commenced at M1 South.

Latest results are presented below include:

  • TAN16-RC132: 5m at 6.2g/t Au from 60m, including 1m at 25.88g/t Au

  • TAN16-RC133: 8m at 0.5g/t Au from 61m and 2m at 1.97g/t Au from 100m

    TAN16-RC134: 17m at 4.28g/t Au from 93m, including 2m at 14.5g/t Au and 1m at 28.3g/t Au

  • TAN16-RC135: hole collapsed - redrill planned

TAN16-RC136: 20m at 5.78g/t Au from 68m, including 1m at 96.25g/t Au

TAN16-RC137: 12m at 5.02g/t Au from 104m, including 6m at 8.21g/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.

The second round of drilling at M1 North aimed to intercept mineralisation beneath historic workings at depths of between 60 and 100m down hole. Mineralisation is associated with laminated quartz veining and pervasive silica-sericite alteration. Mineralisation is open along strike and at depth. Step-out drilling has been planned. Figure 1 below shows the M1 prospect in relation to the M3 and M5 trends.

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 at least 300m 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 continue to reinforce the potential of the broader project.

Due to the extremely high-grade results at M1 South and now strong broad zones of high grade mineralisation at M1 North, the company is in the process of reviewing feasibility and development options. A cross-section through section NW225, long-section through the M1 North mineralised zone and summary plan are presented below as Figures 2 - 4. Full results are presented in Table 1.

Figure 2: M1 Cross section - NW0225

West African Resources Limited

Figure 3: M1 North Long-section

Page: 4

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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$ 518.1 millions as of today (US$ 374.0 millions, € 327.6 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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