West African Resources Ltd.

Published : August 01st, 2016

Upgrades Mineral Resources as at Tanlouka

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Keywords :   Burkina Faso | Diamond | Gold |
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West African Announces Maiden Mineral Resources for M1 & M3, updated Mineral Resource for M5 at Tanlouka Gold Project

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Gold developer West African Resources Limited (ASX, TSXV: WAF) is pleased to announce results of maiden mineral resource estimates for M1 and M3 prospect, and an updated mineral resource estimate for the M5 deposit at its 100%-owned Tanlouka Gold Project, Burkina Faso.  Mineral Resource estimates for the Tanlouka Gold Project were completed by independent resource consultant International Resource Solutions Pty Ltd (IRS) and was prepared in accordance with the requirements the 2012 JORC Code and disclosed in accordance with NI 43-101, under which the 2012 JORC Code is acceptable for mineral resource calculation and disclosure.

Highlights

  • Project mineral resources now 9.8Mt tonnes at 2.1 g/t Au for 670,000 ounces of gold (Indicated) and a further 10.7Mt tonnes at 2.0 g/t Au for 695,000 ounces of gold (Inferred)
  • 34% increase in Indicated mineral resources for Tanlouka Gold Project
  • Maiden M1 South Indicated mineral resource of 290,000 tonnes at 10.3 g/t Au for 96,000 ounces of gold and Inferred mineral resource of 410,000 tonnes at 6.4 g/t Au for 83,000 ounces of gold
  • M1 South structure averages 1,600 ounces per vertical metre 30m to 130m below surface and remains open along strike and down plunge
  • The Company will report a further resource update at M1 South in Q4 following a 10,000m Diamond drilling campaign to test mineralisation down to 300 vertical metres

Managing Director Richard Hyde commented:

�We are pleased to deliver a maiden resource for M1 South in such a short period of time.  This discovery should significantly impact on the potential economics of the project.  M1 South mineralisation is open down plunge and along strike.

�The bulk of the current M1 south resource sits between 30m and 130m below surface, where contained gold averages 1,600 ounces per vertical metre.  To date M1 South has only been drilled to an average vertical depth of 120m.

�The Company�s focus at has strongly shifted to M1 South since the discovery of high grade gold shoots in March 2016.  We are stepping up the drilling campaign with additional Diamond rigs focussed on adding to the resource inventory and upgrading inferred resources.  This is principally focussed on M1 South but also the M5, M1 North and M3 deposits.  We will provide a further resource update for the Tanlouka Gold Project in Q4. The Company aims to have a completed feasibility study and granted mining permit for the project by the end of 2016."

Click here for the full ASX announcement

www.westafricanresources.com

Data and Statistics for these countries : Burkina Faso | All
Gold and Silver Prices for these countries : 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$ 668.3 millions as of today (US$ 436.2 millions, € 410.9 millions).

Its stock quote reached its lowest recent point on February 26, 2016 at AU$ 0.05, and its highest recent level on October 28, 2024 at AU$ 1.84.

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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