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West African Resources Ltd.

Publié le 05 avril 2016

West African hits 96.3g/t Au at M1 North

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Mots clés associés :   Burkina Faso | K Street |

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.

Highlights

  • 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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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 624,7 millions AU$ (405,4 millions US$, 380,4 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
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26/09/2013Channel Resources and West African Resources
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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 ...
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17/07/2016West African hits 1107g/t Au at M1 South
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13/05/2016March 2016 Quarter Interim Financial Report
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11/05/2016West African hits 14m at 8.7g/t Au from 75m including 1m at ...
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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
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06/10/2014West African Resources Limited 72m at 2.2 g/t Au Including 7...
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12/08/2014West African Resources Limited Finds Extension of Mankarga 5...
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