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Press Release
12th May 2016
West African hits 14m at 8.7g/t Au from 75m including 1m at 93.6g/t Au at M1 South
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
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RC drilling returns 14m at 8.7g/t Au from 75m, including 1m at 93.62g/t Au
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Results over 350m strike, open to the northwest
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Drilling in progress at M1 South targeting deeper mineralisation at 100m vertical
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Feasibility study commenced - funded by $12.5m oversubscribed institutional capital raising
Managing Director Richard Hyde commented:
"Infill shallow RC drilling at the M1 South prospect has shown good continuity with strong results from TAN16-RC155 returning 14m at 8.7g/t Au from 75m, including 1m at 93.62g/t Au and 1m at 19.55g/t Au.
"New results confirm continuity of high grade open-pitable gold mineralisation at the M1 South prospect. Deeper drilling is currently in progress at M1 South, with one RC rig and two Diamond rigs working."
Confirmation of high grade gold at M1 South
Shallow infill RC drilling at the M1 South prospect continues to show good continuity with strong results from TAN16-RC155 returning 14m at 8.7g/t Au from 75m, including 1m at 93.62g/t Au and 1m at 19.55g/t Au. A follow-up RC and Diamond core program is in progress at M1 South targeting mineralisation at 100 vertical metres depth. Drilling will continue to be completed on 25m sections which will enable WAF geologists to determine plunge orientation of high grade shoots. Latest results presented below include:
TAN16-RC155: 14m at 8.7g/t Au from 75m, including 1m at 93.62g/t Au and 1m at 19.55g/t Au
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TAN16-RC156: 2m at 12.54g/t Au from 118m,including 1m at 23.05g/t Au
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TAN16-RC157: 9m at 0.86g/t Au from 42m, 3m at 4.83g/t Au from 91m and 4m at 1.94g/t Au from 98m
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TAN16-RC158: 2m at 11.88g/t Au from 82m and 3m at 1.63g/t Au from 133m
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
West African Resources Limited
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.
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 long-section through the M1 South mineralised zone and summary plan are presented below as Figures 2 and 3. Full results are presented in Table 1.
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West African Resources Limited
Figure 2: M1 South Long-section
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West African Resources Limited
Figure 3: M1 Summary Plan (Inset)
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