PERTH, Australia--(BUSINESS WIRE)--
Gold developer West African Resources Limited (ASX:WAF)(TSC-V:WAF) is pleased to announce further highgrade gold results from oxide resource definition drilling at its Mankarga 5 deposit, Burkina Faso. Managing Director Richard Hyde commented:
"The latest round of results complete the oxide infill drilling program at Mankarga 5 required to commence mining for the Stage 1 project. This drilling program has hit a number of sweet spots in the resource that were not evident in previous wider-spaced drilling, including 15m at 5.93 g/t Au from 13m. "These results will significantly improve the oxide grade in the updated resource estimate to be included in the upcoming definitive feasibility study.
"We have kicked off definitive feasibility studies following the positive scoping study reported last month and we look forward to reporting metallurgical results from column test work."
Resource definition drilling is now complete at the Mankarga 5 deposit. Drilling in the central and southern portion of the deposit has again returned grades significantly higher than represented in the previous resource model (ASX, TSXV: 14/4/14). Oxide resource definition drilling will improve grade and category in the resource update planned for the December quarter. Results from the ongoing program include:
- TAC0462: TAC0462: 7m at 1.52 g/t Au from surface and 3.7 g/t Au from 12m on section SW0350
- TAC0463: 15m at 2.45 g/t Au from 4m on section SW0450
- TAC0464: 2m at 8.05 g/t Au from 16m on section SW0550
- TAC0465: 15m at 5.93 g/t Au from 13m including 5m at 15.8 g/t Au on section SW0550
- TAC0466: 7m at 4.71 g/t Au from surface on section SW0550
Notwithstanding the current wet season, diamond drilling targeting higher grades at depth mineralisation is continuing with further results expected in the near future.
An updated cross-section of SW0550 and a summary plan showing results from recent drilling is shown below in Figures 1 and 2, with results presented in Tables 2 and 3 in link below.
In February, West African acquired a second-hand 1.6Mtpa heap leach plant as part of its plan to fasttrack 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.
To view all tables, charts and diagrams, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-WAF-688158.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:
West African Resources Limited
Nathan Ryan, Investor Relations
T: +61-420-582-887
Richard Hyde
Managing Director
Ph: 08 94817344
E: info@westafricanresources.com
WWW: www.westafricanresources.com