Microsoft Word - 160504_M1_Final
Press Release
4th May 2016
West African hits 6m at 9.2g/t Au from 15m including 1m at 49.5g/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 6m at 9.2g/t Au from 15m, including 1m at 49.5g/t Au
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Results over 350m strike, open to the northwest
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Further round of step-out drilling at M1 North planned
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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-RC154 returning 6m at 9.2g/t Au from 15m, including 1m at 49.5g/t Au in the hanging wall zone, and 4m at 6.19g/t Au from 59m, including 2m at 10.36g/t Au in the footwall zone.
"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
Drilling has been completed over 350m of strike at M1 South on 25m sections in the top 80m. Infill shallow RC drilling at the M1 South prospect has shown good continuity with strong results from TAN16-RC154 returning 6m at 9.2g/t Au from 15m, including 1m at 49.5g/t Au in the hanging wall zone, and 4m at 6.19g/t Au from 59m, including 2m at 10.36g/t Au in the footwall zone. A follow-up RC and Diamond core program is in progress at M1 South targeting mineralisation at 100 vertical metres depth. Increased drill density is required at M1 South due to late faulting causing mineralised lodes to be offset. 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:
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TAN16-RC148: 12m at 1.67g/t Au from 97m, including 1m at 9.23g/t Au
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TAN16-RC149: 1m at 27.48g/t Au from 138m
TAN16-RC152: 1m at 53.29g/t Au from 65m
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TAN16-RC153: 1m at 10.64g/t Au from 62m
TAN16-RC154: 6m at 9.15g/t Au from 15m, including 1m at 49.47g/t Au
TAN16-RC154: 4m at 6.19g/t Au from 59m, including 2m at 10.36g/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.
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 (ASX/TSX: 4th & 11th Feb, 1st , 15th , 22nd & 30th March 2016). 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 cross-section through section SE275, long-section through the M1 South mineralised zone and summary plan are presented below as Figures 2 - 4. Full results are presented in Table 1.
Figure 2: M1 Cross section - SE0275
West African Resources Limited
Figure 3: M1 South Long-section
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