Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum Awale Resources Ltd V.ARIC

Alternate Symbol(s):  AWLRF

Awale Resources Limited is a Canada-based mineral exploration company focused on discovering high-grade gold and copper-gold deposits. The Company undertakes exploration activities in the underexplored parts of Cote d'Ivoire. The Company’s portfolio includes the Odienne Project in north-west Cote d’Ivoire. Odienne Project lies in the northwest Denguele Region of Cote d’Ivoire, close to the... see more

TSXV:ARIC - Post Discussion

Awale Resources Ltd > Plus the massive potential of Empire Gold discovery
View:
Post by nozzpack on Nov 21, 2024 10:46pm

Plus the massive potential of Empire Gold discovery

Awal Resources: Phase 2 Drill Update for the Empire Gold Discovery, Odienn, Cte d'Ivoire

VANCOUVER, BCSept. 14, 2020 /CNW/ - Awal Resources Limited ("Awal" or the "Company") (TSXV: ARIC) is pleased to report that it has completed the first 2 diamond holes of its Phase 2 drill program at the Empire high grade gold discovery (Figures 1 and 2).

The first holes (OEDD0016 and OEDD0017, collar details below) of this program were designed to test for potential down-plunge extensions to the gold mineralization in discovery holes OEDD0001 and -OEDD0002.


These holes have successfully intersected target geology and alteration with visible gold reported from 6 locations in OEDD0016 and 3 locations in OEDD0017.

Both holes have now been logged, split, sampled and have been shipped to the laboratory for analysis, with assays expected to be returned in 2 to 3 weeks.

Photos in figure 3 depict examples of visible gold seen in both holes. Down hole locations of observed gold and summary geology are depicted in a cross section (figure 4).

The Empire discovery is summarized in a release dated 29th January 2020, along with other releases dated the 19th of November and 23rd of December 2019.

The company notes that visible gold is not a quantifiable indicator of tenor, it is however an indication of gold mineralization in these drill holes.

The geology of the zones correlates with deformation zones containing visible gold mineralization in previous holes.

These two holes and the ongoing diamond core drilling is testing a shallow eastward plunge to high grade gold mineralization intercepted in the Phase 1 discovery drill program.

A flexure in footwall geometry is modelled to be the principle control to this mineralization, with secondary controls also being tested based on flat dipping lineations. The Long section in Figure 5 depicts the coincident gram-meter grade contours which form the target for these holes along the interpreted axis of the flexure.

Further to the plunge targets at Empire Main, the company is targeting 3 high order (>100ppb) auger anomalies along strike from the discovery area with RC drilling (Figure 6), (see release dated 28th April 2020).

Each of these >100ppb targets are of similar size to the discovery zone at Empire Main and represent compelling targets to rapidly expand gold mineralisation at the prospect.

These extension targets add a potential 1200 metres to the discovery zone.

The company has planned 50 holes for 4500m over these extension targets.

To accelerate this program Capital Drilling has mobilized a second drill rig so these extension targets can be drilled in tandem with the plunge test drilling at Empire Discovery.

LINK: SEE FIGURES 1 TO 6: 
https://www.awaleresources.com/_resources/maps/Awale_Septmeber_14_2020.pdf

Company CEO Glen Parsons commented today:

"We are pleased to see the first 2 plunge test holes at Empire main have successfully intercepted target geology and visible gold. The company looks forward to delivering the results from these first holes in the ensuing weeks. 

We also eagerly anticipate commencing the RC program over the exciting 3 new extension targets, which are similar in size to the Discovery zone.


These exiting targets have potential to extend mineralization by a further 1200m.

Encouragingly the second rig will certainly help us meet our stated drilling timeline objective to ensure our exploration momentum is maintained.

The Empire discovery and current focus is testing the initial 3km strike of the >20km long Empire structure, we also look forward to extending exploration along this shear zone." 

Table 1: Collar Details for Holes OEDD0016 and OEDD0017

Hole ID

East 

North

Elevation

Azimuth

Inclination

Hole Depth

OEDD0016

647441

1030206

473

0

-55

159.4

OEDD0017

647447

1030232

473

0

-55

123.4

The Empire discovery is summarized in a release dated 29th January 2020, along with other releases dated the 19th of November and 23rd of December 2019. Selected highlights from the Initial discovery drill program include:

  • OEDD0001 - The discovery Hole (Drill Section 2)
    • 18.15m at 4.9 grams per tonne ('g/t Au') from 40 meters ('m') downhole,
      • including 10.4 m at 7.9 g/t Au from 40m downhole
  • OEDD0002 Scissor of OEDD0001 (Drill Section 2)
    • 27 m at 3.1 g/t Au from 43.2 m downhole
      • including 9 m at 5.3 g/t Au from 43.2 m downhole.
  • OEDD0009 Step West - Drill Section 2a
    • 17m at 2.6 g/t Au from 40 m downhole,
      • including 2.65m at 15.4 g/t Au from 40m,
    • 16.74m at 1.9 g/t Au from 74.26m downhole,
      • including 9.28m at 2.7g/t Au from 80.72m and,
    • 16m at 1.8 g/t Au from 98m downhole,
      • including 3m at 7.6 g/t Au from 111m downhole
  • OERC0021 Step West- Drill section 2a
    • 2m at 4.8g/t Au from 53m downhole
    • 18m at 3g/t Au from 97m downhole including 2m at 15.5 g/t Au from 111m downhole
    • 29m at 1.2g/t Au from 134m downhole,
      • including 11m at 2.5g/t Au from 140m downhole and 2m at 5.6g/t Au from 140m downhole

Note; True width Intercepts are approximately 75 to 90% of the reported downhole interval downhole. The Broad intercepts above are calculated at a 0.2g/t Au trigger with included intercepts calculated at a 1 g/t Au trigger. All calculated intercepts include 3m of internal waste.

Quality Control and Assurance

Analytical work for drill core and RC percussion samples is being carried out at the independent Intertek Laboratories Ghana Ltd. an ISO 17025 Certified Laboratory. Samples are stored at the company's field camps and put into sealed bags; they are stored securely until collected by Intertek for transportation to Ghana. Samples are logged in the tracking system, weighed, dried and finely crushed to better than 70%, passing a 2 mm screen. A split of up to 1,000 g is taken and pulverized to better than 85%, passing a 75-micron screen, and a 50-gram split is analyzed by Fire Assay with an AAS finish. Blanks, duplicates and certified reference material (standards) are being used to monitor laboratory performance during the analysis. Due to the presence of free gold the lab was requested to run a quarV 

Be the first to comment on this post
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities