West African Resources Ltd.

Published : October 06th, 2014

West African Resources Limited 72m at 2.2 g/t Au Including 7m at 7.7 g/t Au from 231m

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West African Resources Limited 72m at 2.2 g/t Au Including 7m at 7.7 g/t Au from 231m

PERTH, Australia--(BUSINESS WIRE)--

Gold developer West African Resources Limited (ASX:WAF) (TSX-V:WAF) is pleased to announce further high-grade gold results from sulphide Diamond drilling at its Mankarga 5 deposit, Burkina Faso.

Managing Director Richard Hyde commented:

"Diamond drilling beneath the proposed oxide starter pit reinforces the potential for a stage two CIL project at Mankarga.

"Our scoping study released in July, which focussed on heap leaching near surface oxide material, showed that we can produce up to 60,000 ounces of gold per year from a single open-pit, at all in sustaining costs of US$685 per ounce, with initial capital costs of less than US$45m.

"Diamond drilling targeting mineralisation beneath the oxide starter pit is continuing, and we will complete scoping studies investigating a stage two CIL project early next year."

Diamond drilling at the Mankarga 5 deposit has again demonstrated excellent grade continuity beneath the proposed oxide starter pit that the Company intends to treat by conventional heap leach processing (Figures 1 and 2 in link below). Results from the ongoing Diamond drilling program targeting primary mineralisation include:

TAN14-DD020: 29m at 1.59g/t Au including 4m at 2.98g/t Au and 3m at 4.5g/t Au from 62m

TAN14-DD022: 3m at 5.75g/t Au including 1m at 16.65g/t Au from 185m and;

TAN14-DD022: 72m at 2.15g/t Au from 231m including;

- 7m at 7.68g/t Au from 243m
- 5m at 3.58g/t Au from 263m
- 1m at 17.57g/t Au from 271m
- 8m at 2.69g/t Au from 278m
- 3m at 2.93g/t Au from 295m

High-grade gold mineralisation on SW650 is open at depth with intercepts in TAN14-DD022 down dip of TAN11-RC-56 which returned 16m at 5.23g/t Au including 4m at 18.4g/t Au. High-grade mineralisation has also been located in the hanging wall of the main zone including 8m at 13.41g/t Au from 6m in TAC0214, and immediately adjacent to 2m at 15.55g/t Au from 56m in TAN11-RC71.

Diamond drilling targeting higher grades at depth mineralisation is continuing. An updated cross-section of SW0650 and a summary plan showing results from recent drilling is shown below in Figures 1 and 2, with results presented in Tables 1 and 2 in link below.

In February, West African acquired a second-hand 1.6Mtpa heap leach plant as part of its plan to fast-track development of Mankarga 5. In July, the Company delivered positive results from a Scoping Study which demonstrated a low capital cost, high margin, heap leach starter project (ASX,TSXV: 29/7/14).

The Company is focussed on near-term production with its immediate attention on the Mankarga 5 deposit and existing nearby gold prospects. The Company aims to be a +50,000oz per annum gold producer by the end of 2015 via a low-cost heap leach starter project.

The proposed project development schedule for Mankarga 5 and surrounding prospects is shown below in Table 3 in link below.

To view figures and tables, please visit: http://media.abnnewswire.net/media/en/docs/ASX-WAF-693891.pdf

About West African Resources Limited
West African Resources Limited (ASX:WAF) (TSX-V:WAF) is a gold-copper exploration company dedicated to creating shareholder value through the acquisition, exploration and development of resource projects in Burkina Faso, West Africa.

West African has a landholding of 6,370sq km and 200km of strike length of early Proterozoic Birimian greenstone belts, which are highly prospective for gold mineralisation.

Contact

Richard Hyde
Managing Director
Ph: +61-8-9481-7344

Nathan Ryan
Investor Relations
Ph: +61-420-582-887

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

West African Resources Ltd.

EXPLORATION STAGE
CODE : WAF.AX
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$ 554.5 millions as of today (US$ 400.2 millions, € 350.5 millions).

Its stock quote reached its lowest recent point on February 26, 2016 at AU$ 0.05, and its highest recent level on November 19, 2021 at AU$ 1.47.

West African Resources has 484 249 984 shares outstanding.

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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...
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