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West African Resources Ltd.

Publié le 27 juillet 2016

West African hits 41m at 2.2 g/t Au including 8m at 5.7 g/t Au at M5

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Mots clés associés :   Burkina Faso | K Street |

West African hits 41m at 2.2 g/t Au including 8m at 5.7 g/t Au at M5

Press Release

28th July 2016

West African hits 41m at 2.2 g/t Au including 8m at 5.7 g/t Au at M5

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

  • Strong results in M5 resource definition RC drilling 41m at 2.2 g/t Au including 8m at 5.7 g/t Au

  • Step-out drilling at M1 North intercepts 8m at 2.71 g/t Au

  • New results not included in Q3 resource estimate, further resource update planned Q4

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

    Managing Director Richard Hyde commented:

    "Step-out drilling at M1 North has intercepted mineralisation 50m north of the current resource area, returning 8m at 2.71 g/t Au.

    "Strong results have also been returned from resource definition drilling at M5 including 41m at 2.2 g/t Au including 8m at 5.7 g/t Au.

    "Drilling is currently focussing on open-pitable mineralisation at M1 and M5. Resource estimation studies for M1, M3 and M5 are in progress and will be release later in Q3 2016. A further resource update incorporating new results will be completed in Q4 2016."

    M5 Resource Definition Drilling

    Resource definition RC drilling underway at M5. A drill program of 3,000m is being completed to upgrade mineralisation from Inferred to Indicated category for inclusion in CIL open-pit mining studies in Q3/Q4 2016. Previous drilling by WAF at M5 in 2014-15 had focussed on the predominantly oxide mineralisation. None of these results have been included in the current resource estimation studies planned for release in Q3 2016, and will be included in a Q4 resource update 2016. Significant results include:

  • TAN16-RC189 22m at 1.15 g/t Au from 80m, including 5m at 4.12 g/t Au

  • TAN16-RC193 29m at 1.60 g/t Au from 58m, including 4m at 9.38 g/t Au*

  • TAN16-RC194 15m at 1.32 g/t Au from 19m

  • TAN16-RC196 33m at 1.54 g/t Au from 36m, including 10m at 2.88 g/t Au

  • TAN16-RC198 14m at 0.98 g/t Au from 29m

  • TAN16-RC199 56m at 0.79 g/t Au from 73m, including 12m at 2.11 g/t Au

  • TAN16-RC200 41m at 2.22 g/t Au from 84m, including 3m at 7.05 g/t Au and 8m at 5.68 g/t Au*

  • TAN16-RC201 55m at 0.99 g/t Au from 81m, including 9m at 2.7 g/t Au

  • TAN16-RC202 81m at 1.12 g/t Au from 11m, including 8m at 3.72 g/t Au*

  • TAN16-RC203 58m at 0.80 g/t Au from 35m, and 14m at 1.02 g/t Au from 97m*

  • TAN16-RC204 32m at 0.76 g/t Au from 72m

  • TAN16-RC205 41m at 1.19 g/t Au from 1m, including 7m at 1.78 g/t Au and 4m at 3.04 g/t Au

* Denotes ended in mineralisation

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

A number of RC drill holes have been stopped early due to ground water ingress. These holes will be extended with diamond tails to ensure sample quality is satisfactory for Q4 2016 resource estimation studies.

M1 Open to the North

Step-out drilling the northwest of the current resource area on section NW300 has intercepted mineralisation with TAN16-RC176 returning 8m at 2.71 g/t Au from 60m in RC drilling. Step-out drilling on NW500 intercepted broad lower grade mineralisation including 9m at 0.85 g/t Au from 17m and 7m at 0.83 g/t Au from 32m in TAN16-RC180, and 10m at 0.54 g/t Au from 4m in TAN16-RC181, indicating a fertile system open along strike at M1 North.

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. 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 summary plan for M5 presented below as Figure 2 as well as cross-sections for SW150 and NE200 as Figures 3 and 4. A summary plan for M1 North is presented as Figure 5. Full results are presented in Tables 1 - 3.

Figure 2: M5 Summary Plan

Figure 3: M5 Cross-section SW150

Figure 4: M5 Cross-section NE200

Lire la suite de l'article sur www.publicnow.com
Données et statistiques pour les pays mentionnés : Burkina Faso | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Burkina Faso | Tous

West African Resources Ltd.

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CODE : WAF.AX
ISIN : AU000000WAF6
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West African Resources est une société d’exploration minière basée en Australie.

Ses principaux projets en exploration sont MARANDET au Niger et BOULSA au Burkina Faso.

West African Resources est cotée en Australie. Sa capitalisation boursière aujourd'hui est 639,2 millions AU$ (409,3 millions US$, 384,5 millions €).

La valeur de son action a atteint son plus bas niveau récent le 26 février 2016 à 0,05 AU$, et son plus haut niveau récent le 19 novembre 2021 à 1,47 AU$.

West African Resources possède 484 249 984 actions en circulation.

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Dans les médias de West African Resources Ltd.
25/07/2016in The Australian
Financements de West African Resources Ltd.
18/08/2016Issue of securities
18/08/2016ISSUE OF SECURITIES WITHOUT A DISCLOSURE DOCUMENT
25/03/2011$7 Million Capital RaisingUser-Agent: ExpressionEngine 1.6.9
Nominations de West African Resources Ltd.
28/02/2014Appointment of Colin Jones as Non-Executive Director
Rapports Financiers de West African Resources Ltd.
31/10/2016Quarterly Activities and Cashflow Report
29/07/2016June 2016 Quarterly Activities Report
02/05/2016March 2016 Quarterly Activities Report
14/02/2016December 2015 Quarter Interim Financial Report
Projets de West African Resources Ltd.
14/09/2016hits 10m at 18.33g/t Au including 1m at 165.14g/t at M1 Sout...
01/08/2016(Tanlouka)Upgrades Mineral Resources as at Tanlouka
01/02/2016West African hits 19m at 1.9g/t Au from 40m, including 3m at...
15/10/2015West African commences drilling at M3 gold discovery
16/08/2015New gold zone returns up to 13g/t Au in auger drilling
18/06/2015Outstanding results at Mankarga 1 prospect – Up to 4g/t Au i...
19/02/2014Acquires Heap Leach Plant Targeting Gold Production 2015
20/01/2014Completes Acquisition of Channel Resources
13/12/2013Channel Receives Final Court Approval for Arrangement With W...
26/09/2013Channel Resources and West African Resources
18/05/2011Further high-grade results at MokteduUser-Agent: ExpressionE...
20/03/2011New high grade gold discoveryUser-Agent: ExpressionEngine 1....
Communiqués de Presse de West African Resources Ltd.
31/07/2017June 2017 Quarterly Activities and Cashflow Report
25/08/2016West African Resources Repays US$5m Loan Facility
01/08/2016West African Upgrades Mineral Resources as at Tanlouka
27/07/2016West African hits 41m at 2.2 g/t Au including 8m at 5.7 g/t ...
20/07/2016Clarus Securities initiates coverage on West African Resourc...
17/07/2016West African hits 1107g/t Au at M1 South
16/06/2016West African hits visible gold at 175m, confirms depth poten...
13/05/2016March 2016 Quarter Interim Financial Report
13/05/2016March 2016 Quarter Management Discussion & Analysis
11/05/2016West African hits 14m at 8.7g/t Au from 75m including 1m at ...
05/05/2016West African hits 6m at 9.2g/t Au from 15m at M1 South
26/04/2016Notice of General Meeting/Proxy Form
26/04/2016Section 708 Notice
20/04/2016West African hits 9m at 9.7g/t Au from 112m, including 1m at...
13/04/2016Trading Halt
05/04/2016West African hits 96.3g/t Au at M1 North
23/12/2015Becoming a substantial holder for WAF
21/12/2015Preliminary metallurgical recoveries average 97.5% at M1 and...
14/12/201515m at 1.2g/t Au including 7m at 2.2g/t Au from 4m at M3
30/09/2015Management Discussion & Analysis
30/09/2015Annual Report
18/09/2015Company Update
01/09/2015Final Director’s Interest Notice x 2
31/07/2015June Quarterly Activities Report
17/06/2015West African extends M5 by 1.5km, up to 0.63g/t Au in Auger
06/10/2014West African Resources Limited 72m at 2.2 g/t Au Including 7...
19/08/2014West African Resources Limited 15m at 5.9 g/t Au including 5...
12/08/2014West African Resources Limited Finds Extension of Mankarga 5...
06/08/2014West African Resources Limited West African Oxide Drilling 2...
06/12/2013Acquisition by West African Resources Approved
14/08/2013Letter of Intent for the Acquisition of Channel Resources by...
09/10/2012Hartleys initiates coverage on West African Resources (ASX: ...
29/07/2011June 2011 Quarterly ReportUser-Agent: ExpressionEngine 1.6.9
27/04/2011March 2011 Quarterly ReportUser-Agent: ExpressionEngine 1.6....
31/01/2011December 2010 Quarterly ReportUser-Agent: ExpressionEngine 1...
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