West African hits 7.5m at 15.2 g/t Au including 2.5m at 37.8 g/t Au at M1 South

Scarborough , Australia (FSCwire) - Gold developer West African Resources Limited (ASX, TSXV: WAF) is pleased to report further high-grade drilling results from its Sanbrado Gold Project, Burkina Faso.

Highlights

• High-grade results from depth at M1 South include;
  • 7.5m at 15.2 g/t Au from 565.5m, including 2.5m at 37.8 g/t Au
  • 5.5m at 10.8 g/t Au from 584.5m, including 1m at 41.7 g/t Au
  • 3m at 9.7 g/t Au from 579.5m
  • 1.5m at 14.1 g/t Au from 547m
• Three drill rigs currently on-site double shifting, infilling and extending mineralisation
• Ground geophysical survey completed – data processing in progress
• Resource update completion by end of October and updated Feasibility Study in mid-2018
• Funded to complete all work programs with approximately $26m cash at bank

M1 South Drilling Program

Deep drilling at M1 South has intercepted high grade mineralisation demonstrating the M1 South structure remains wide open at depth and along strike to the northwest (Figure 1).  TAN17-DD162 on section SE400 is the deepest result to date taking mineralisation 450m below surface. TAN17-DD165 intercepted high-grade mineralisation as well 25m along strike to the northwest on section SE375.  Drilling is ongoing, infilling and extending mineralisation, with two contract diamond rigs double shifting.

The Company will deliver a resource update in the coming weeks, incorporating results from TAN17-DD162 and TAN17-DD165.  The Company will accelerate drilling again with at least 6 drill rigs from early November, for the duration 2017-18 field season (Nov 17-July 18).

Detail ground magnetics and IP surveys have been completed and data is currently being processed.

Drill planning is currently underway and a further exploration and drilling update will be made in early November, once data from the geophysical surveys and a structural study have been reviewed.  The Company expects to release an additional resource update in Q2 2018 ahead of completing and an updated Feasibility Study in mid-2018.

Significant results from recent drilling include:

• TAN17-DD162: 5.5m at 10.78 g/t Au from 584.5m, including 1m at 41.7 g/t Au
• TAN17-DD162: 2m at 9.02 g/t Au from 611.5m
• TAN17-DD163: 1m at 7.58 g/t Au from 502m
• TAN17-DD163: 3m at 9.68 g/t Au from 579.5m
• TAN17-DD164A: 1.5m at 14.11 g/t Au from 547m
• TAN17-DD165: 0.5m at 19.9 g/t Au from 548.5m
• TAN17-DD165: 7.5m at 15.22 g/t Au from 565.5m, including 2.5m at 37.8 g/t Au

Previous results from the 2017 drilling program, that commenced after the February resource and open pit Feasibility Study at M1 South include:

• TAN17-DD104:  11m at 20.4 g/t Au from 286m, including 2m at 101.71 g/t Au
• TAN17-DD107:  8.5m at 37.98 g/t Au from 296.5m, including 1m at 260.93 g/t Au
• TAN17-DD109:  29.5m at 20.67 g/t Au from 349.5m, including 1.5m at 250.29 g/t Au
• TAN17-DD110A:  22m at 10.52 g/t Au from 373.5m, including 1.5m at 61.71 g/t Au
• TAN17-DD110A:  15m at 12.4 g/t Au from 431.5m, including 2.5m at 57.6 g/t Au
• TAN17-DD111:  21m at 53.13 g/t Au from 408.5m, including 0.5m at 1,613.41 g/t Au
• TAN17-DD111:  14.5m at 38.27 g/t Au from 459m, including 4.5m at 104.16 g/t Au
• TAN17-DD128:  2.5m at 58.9 g/t Au from 254m, including 0.5m at 280.3 g/t Au from 256m
• TAN17-DD135:  1.5m at 91.76 g/t Au from 155m, including 0.5m at 215.6 g/t Au

A summary long-section through the M1 South is presented as Figure 1, along with a cross-section and drill plan as figure 2

Figure 1: M1 South – Long Section

To view the graphic in its original size, please click here

Figure 2: M1 South – Section SE375

To view the graphic in its original size, please click here

Figure 3: Sanbrado Gold Project – Mineralised Trends and Prospect Locations

To view the graphic in its original size, please click here

Competent Persons and Qualified Persons Statement

Information in this announcement that relates to exploration results, exploration targets or mineral resources is based on information compiled by Mr Richard Hyde, a Director, who is a Member of The Australian Institute of Mining and Metallurgy and Australian Institute of Geoscientists. Mr Hyde has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and a Qualified Person under National Instrument 43-101. Mr Hyde consents to the inclusion in this announcement of the statements based on his information in the form and context in which they appear.

Forward Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian and Australian securities legislation, including information relating to West African's future financial or operating performance may be deemed “forward looking”. All statements in this news release, other than statements of historical fact, that address events or developments that West African expects to occur, are “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “does not expect”, “plans”, “anticipates”, “does not anticipate”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled”, “forecast”, “budget” and similar expressions, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to important risk factors and uncertainties, many of which are beyond West African’s ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. In the case of West African, these facts include their anticipated operations in future periods, planned exploration and development of its properties, and plans related to its business and other matters that may occur in the future. This information relates to analyses and other information that is based on expectations of future performance and planned work programs. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if a mineral property is developed.

Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation: exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in West African’s ability to obtain funding; gold price fluctuations; recent market events and conditions; risks related to the uncertainty of mineral resource calculations and the inclusion of inferred mineral resources in economic estimation; risks related to governmental regulations; risks related to obtaining necessary licenses and permits; risks related to their business being subject to environmental laws and regulations; risks related to their mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and technical resources; risks relating to the inability to meet financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks related to their directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect West African’s forward-looking information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information.

West African’s forward-looking information is based on the reasonable beliefs, expectations and opinions of their respective management on the date the statements are made and West African does not assume any obligation to update forward looking information if circumstances or management’s beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information. For a complete discussion with respect to West African, please refer to West African’s financial statements and related MD&A, all of which are filed on SEDAR at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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