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HIGHLIGHTS
- Two step-back holes extend down-plunge mineralization by 400m to a known depth of 570m.
- 54m @ 1.9 g/t AuEq. from 494m downhole in hole OEDD-152, including 21m at 3.3 g/t AuEq.
- 38m @ 1.4 g/t AuEq. from 635m downhole in hole OEDD-153, including 12m @ 2.0 g/t AuEq.
- Shallow drilling also confirms continuity of mineralization along strike northwest and southeast.
- BBM system remains open down-plunge and along strike with potential for additional high-grade plunging shoots.
Awalé Resources Limited (TSXV: ARIC,OTC:AWLRF) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to announce that step-down diamond drilling at the BBM discovery has successfully extended gold mineralization 400m down-plunge. Additionally, surface RC drilling on potential satellite targets has confirmed continuity of the BBM system both northwest and southeast of the discovery area within the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire.
"With just two diamond drill holes, we've doubled the known depth of mineralization at BBM, returning highly encouraging widths and grades that suggest BBM has underground target potential. Intersections such as 21 metres at 3.3 g/t AuEq. suggest the potential to test down-plunge, alongside the infill drilling planned at BBM as we advance toward our first resource estimate next year. These recent RC and diamond drilling results confirm that BBM remains open. The Company is now preparing to launch its currently planned 100,000-metre drill campaign at Odienné, contemplated to commence at the end of October 2025 as the wet season subsides," commented Andrew Chubb, CEO of Awalé Resources.
View Video of CEO Andrew Chubb Discussing Results
Higher-Grade Plunging Mineralization at BBM
Diamond drill holes OEDD-152 and OEDD-153 are step-back holes drilled (See Figures 3, 4, and 5) down-plunge from previously reported higher-grade intercepts in drill holes OEDD-74, OEDD-104, and OEDD-119 (See Company news releases dated March 18, 2024, January 29, 2025, and March 18, 2025). The mineralized shoot is interpreted to be approximately 300m long with true widths1 of 15-35 metres. These higher grade intervals are summarized in Table 1.
Table 1: Selected Higher-Grade Intercepts from the Plunging Shoot at BBM
| Hole ID | From (m) | To (m) | Width (m) | Comp. Trigger (Au g/t) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (ppm) | AuEq. (80%) |
| OEDD0074 | 265 | 286 | 21 | 2 | 3.1 | 0.55 | 1.9 | 329 | 3.1 |
| OEDD0074 | 304 | 315 | 11 | 2 | 3.6 | 0.45 | 1.5 | 349 | 3.4 |
| OEDD0097 | 461 | 471 | 10 | 2 | 2.1 | 0.46 | 1.2 | 137 | 2.2 |
| OEDD0104 | 326 | 338 | 12 | 2 | 2.8 | 0.84 | 3.8 | 704 | 3.2 |
| OEDD0105 | 93 | 103 | 10 | 2 | 2.4 | 0.54 | 1.8 | 511 | 2.5 |
| OEDD0119 | 208 | 223 | 15 | 2 | 3.6 | 0.52 | 1.8 | 479 | 3.4 |
| OEDD0152 | 523 | 544 | 21 | 2 | 3.2 | 0.68 | 2.1 | 534 | 3.3 |
| OEDD0153 | 657 | 669 | 12 | 2 | 2.2 | 0.43 | 1.8 | 359 | 2.2 |
Satellite Drilling Extends Strike
Shallow RC drilling has extended mineralization to both the northwest and southeast of the BBM discovery. To the northwest of the main drill area, three RC drill lines (3-5) consisting of approximately 7 holes per line, targeted on trend shallow mineralization under higher order geochemical and geophysical anomalies. Target geology was intercepted in all three lines and extended mineralization by 1 km.
Significant mineralization in lines RC-3 and RC-4 included (see Figures 3 and 6):
- 25m at 0.9 g/t AuEq. from 12m downhole in hole OERC-155,
- 1m at 18.3 g/t Au from 41m downhole in hole OERC-161, and
- 3m at 2.4 g/t Au from 17m downhole in OERC-169
To the southeast, two RC drill lines also intercepted shallow mineralization, extending the known BBM trend at surface by 4 km, with OERC-146 returning 8m @ 0.9 g/t Au from 32m.
Table 2: Significant Downhole Intercepts from Diamond Drilling - (from this release)
| Hole ID | From (m) | To (m) | Width (m) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (ppm) | AuEq. (80%) | Comp. Trigger (Au g/t) |
| OEDD0152 | 494 | 548 | 54 | 1.9 | 0.40 | 1.4 | 325 | 1.9 | 0.2 |
| including | 501 | 503 | 2 | 3.2 | 0.27 | 1.0 | 74 | 2.8 | 2 |
| and | 512 | 546 | 34 | 2.6 | 0.56 | 1.8 | 435 | 2.7 | 0.5 |
| and | 523 | 544 | 21 | 3.2 | 0.68 | 2.1 | 534 | 3.3 | 2 |
| and | 528 | 544 | 16 | 3.6 | 0.75 | 2.3 | 590 | 3.7 | 3 |
| OEDD0153 | 559 | 560 | 1 | 0.9 | 0.00 | 0.0 | 1 | 0.8 | 0.2 |
| 607 | 608 | 1 | 0.5 | 0.43 | 1.9 | 110 | 0.9 | 0.2 | |
| 635 | 671 | 36 | 1.3 | 0.33 | 1.2 | 211 | 1.4 | 0.2 | |
| including | 641 | 669 | 28 | 1.6 | 0.39 | 1.3 | 245 | 1.7 | 0.5 |
| and | 657 | 669 | 12 | 2.2 | 0.43 | 1.8 | 359 | 2.2 | 2 |
| OEDD0153 | 706 | 726 | 20 | 1.2 | 0.30 | 0.8 | 177 | 1.3 | 0.2 |
| including | 706 | 721 | 15 | 1.5 | 0.39 | 1.0 | 230 | 1.6 | 0.5 |
| and | 713 | 719 | 6 | 2.2 | 0.48 | 1.0 | 287 | 2.3 | 2 |
Table 3: Significant Downhole Intercepts for all BBM Satellite RC Drill Holes - (from this release)
| Hole ID | From (m) | To (m) | Width (m) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (ppm) | AuEq. (80%)1 | Comp. Trigger (Au g/t) |
| OERC0146 | 34 | 42 | 8 | 0.9 | 0.01 | 0.2 | 5 | 0.2 | |
| including | 34 | 35 | 1 | 4.0 | 0.01 | 0.4 | 2 | 1 | |
| OERC0152 | 13 | 14 | 1 | 1.2 | 0.03 | 0.3 | 4 | 0.2 | |
| OERC0153 | 35 | 37 | 2 | 0.6 | 0.14 | 0.8 | 23 | 0.6 | 0.2 |
| 52 | 57 | 5 | 0.4 | 0.04 | 0.4 | 164 | 0.2 | ||
| OERC0154 | 6 | 8 | 2 | 0.4 | 0.01 | 0.1 | 2 | 0.2 | |
| 37 | 40 | 3 | 0.5 | 0.01 | 0.1 | 2 | 0.2 | ||
| OERC0155 | 12 | 37 | 25 | 0.3 | 0.56 | 1.2 | 18 | 0.9 | 0.2 |
| OERC0156 | 40 | 46 | 6 | 0.8 | 0.00 | 0.2 | 3 | 0.2 | |
| including | 43 | 46 | 1 | 1.3 | 0.00 | 0.3 | 3 | 1 | |
| OERC0160 | 34 | 35 | 1 | 0.5 | 0.49 | 3.1 | 25 | 0.9 | 0.2 |
| OERC0161 | 41 | 42 | 1 | 18.3 | 0.01 | 0.3 | 3 | 0.5 | |
| OERC0168 | 53 | 58 | 5 | 0.9 | 0.01 | 0.1 | 3 | 0.2 | |
| including | 53 | 54 | 1 | 3.8 | 0.00 | 0.1 | 3 | 1 | |
| OERC0168 | 74 | 75 | 1 | 1.2 | 0.00 | 0.1 | 1 | 0.2 | |
| OERC0169 | 17 | 20 | 3 | 2.4 | 0.00 | 0.4 | 2 | 0.2 |
1 AuEq. shown only for intervals with Cu values over 0.05%.
Table 4: Drill Collar Details for all RC and DD Holes from this Phase of Drilling
| Hole ID | Easting | Northing | RL_M | Azimuth_True | DIP | EOH_M |
| OEDD0152 | 655,597.72 | 1,048,026.65 | 422.85 | 14.84 | -66.00 | 587.65 |
| OEDD0153 | 655,464.16 | 1,048,058.36 | 424.75 | 9.00 | -69.35 | 746.30 |
| OERC0146 | 657,708.36 | 1,045,602.04 | 429.40 | 64.00 | -50.00 | 90.00 |
| OERC0147 | 657,748.27 | 1,045,623.73 | 428.45 | 64.00 | -50.00 | 84.00 |
| OERC0148 | 657,790.77 | 1,045,641.25 | 427.66 | 64.00 | -50.00 | 81.00 |
| OERC0149 | 657,832.06 | 1,045,660.39 | 427.36 | 64.00 | -50.00 | 80.00 |
| OERC0150 | 656,808.14 | 1,046,992.13 | 413.88 | 55.00 | -50.00 | 80.00 |
| OERC0151 | 656,845.90 | 1,047,019.68 | 420.02 | 55.00 | -50.00 | 90.00 |
| OERC0152 | 656,884.78 | 1,047,043.41 | 420.60 | 55.00 | -50.00 | 90.00 |
| OERC0153 | 656,923.98 | 1,047,066.46 | 421.30 | 55.00 | -50.00 | 80.00 |
| OERC0154 | 656,958.02 | 1,047,097.04 | 422.43 | 55.00 | -50.00 | 80.00 |
| OERC0155 | 655,429.65 | 1,048,353.98 | 422.65 | 36.00 | -50.00 | 80.00 |
| OERC0156 | 655,458.45 | 1,048,389.05 | 421.47 | 36.00 | -50.00 | 84.00 |
| OERC0157 | 655,485.78 | 1,048,426.06 | 420.28 | 36.00 | -50.00 | 80.00 |
| OERC0158 | 655,513.07 | 1,048,463.52 | 418.83 | 36.00 | -50.00 | 90.00 |
| OERC0159 | 655,539.87 | 1,048,499.85 | 417.70 | 36.00 | -50.00 | 80.00 |
| OERC0160 | 655,232.82 | 1,048,539.34 | 416.28 | 37.00 | -50.00 | 114.00 |
| OERC0161 | 655,257.69 | 1,048,578.27 | 415.25 | 37.00 | -50.00 | 84.00 |
| OERC0162 | 655,286.61 | 1,048,613.19 | 414.26 | 37.00 | -50.00 | 84.00 |
| OERC0163 | 655,315.33 | 1,048,649.51 | 413.05 | 37.00 | -50.00 | 96.00 |
| OERC0164 | 655,342.79 | 1,048,686.35 | 411.73 | 37.00 | -50.00 | 80.00 |
| OERC0165 | 655,370.87 | 1,048,723.62 | 410.77 | 37.00 | -50.00 | 84.00 |
| OERC0166 | 654,781.12 | 1,048,866.25 | 416.85 | 37.00 | -50.00 | 90.00 |
| OERC0167 | 654,806.53 | 1,048,903.58 | 414.86 | 37.00 | -50.00 | 84.00 |
| OERC0168 | 654,834.35 | 1,048,940.36 | 413.75 | 37.00 | -50.00 | 80.00 |
| OERC0169 | 654,859.56 | 1,048,978.67 | 411.93 | 37.00 | -50.00 | 80.00 |
| OERC0170 | 654,883.06 | 1,049,017.45 | 409.96 | 37.00 | -50.00 | 80.00 |
| OERC0171 | 654,910.52 | 1,049,053.97 | 407.65 | 37.00 | -50.00 | 111.00 |
| OERC0192 | 654,755.94 | 1,048,836.36 | 417.14 | 37.00 | -50.00 | 90.00 |
| OERC0193 | 655,209.19 | 1,048,509.05 | 417.18 | 37.00 | -50.00 | 90.00 |
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d'Ivoire, where the Company is exploring the Odienné Copper-Gold Project ("Odienné" or the "Project"), covering 2,346 km2 across seven permits-five granted and two applications. This includes 797 km2 in two permits held under the Awalé-Newmont Joint Venture ("OJV"). Awalé currently manages all exploration activities over the OJV, with funding currently provided by Newmont Ventures Limited ("Newmont") under an Exploration Agreement signed in May 2022.
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum mineralized systems within the OJV and has recently commenced exploration on its 100%-owned properties.
The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well-seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Quality Control and Assurance
Analytical work for geochemistry samples is being carried out at the independent ALS Laboratories in Ghana, Canada and Ireland, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags until collected by ALS from the Company's secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Canada or Ireland where the sample is analyzed by 52 element ICP/MS with a 4-Acid digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis. Fire Assay results above 5 g/t are routinely screen fire assayed and those results used in reported intervals. Sampled core is dominantly NQ diameter sampled at 1 metre intervals, with HQ diameter in pre collars sampled at 0.5 to 1.5m intervals depending on recovery. All sampling is half core.
Mineralized Interval Calculations
Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the BBM target, initial mineralized zones are calculated at a 0.2 g/t Au trigger and include up to 3 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 0.5 g/t, 1 g/t, 2 g/t trigger values, with up to 3 metres of internal waste. True widths are estimated to be 70% of the downhole widths.
Au Equivalent Calculations
Au Equivalent is calculated using the following parameters in USD: Au - 1910/Oz (Troy), Cu 3.80/lb, Mo 40,000/Tonne, and Ag 23.40/Oz (Troy). The Formula AuEq = Au (g/t) + ((Cu (ppm) * 0.00014) + (Mo (ppm) * 0.00065) + (Ag (g/t)*0.01225)). An 80% metallurgical recovery is assumed for all metals, as the specific recovery rates for individual metals are unclear, and assuming different recoveries would be premature at this stage.
Qualified Person
The technical and scientific information contained in this news release has been reviewed and approved for release by Andrew Chubb, the Company's Qualified Person as defined by National Instrument 43-101. Mr. Chubb is the Company's Chief Executive Officer and holds an Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic Geoscientists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.
Abbreviations Used in this Release
| Ag | Silver |
| Au | Gold |
| AuEq. | Gold Equivalent |
| Cu | Copper |
| g/t | Grams per tonne |
| km | Kilometres |
| m | Metres |
| Mo | Molybdenum |
| ppm | Parts per million |
AWALÉ Resources Limited
On behalf of the Board of Directors
"Andrew Chubb"
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
a.chubb@awaleresources.com
Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
a.keshishian@awaleresources.com
The Company's public documents may be accessed at www.sedarplus.ca. For further information on the Company, please visit our website at www.awaleresources.com.
Forward-Looking Information
This news release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, propose, potential, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this news release include but are not limited to statements regarding, the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, timing and extent of planned drilling, expectations to achieve a first mineral resource estimate and preliminary economic assessment, advancing towards a pre-feasibility study, potential for new discoveries, timing for providing assay results, commencement of operations. Although the Company believes any forward-looking statements in this news release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the results of the proposed drilling programs, the number of drilling rigs on site, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected and that the proposed drilling program will proceed as planned. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Neither the 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.
1 True widths are estimated at 70% of the downhole width of mineralization intercepted in drilling.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271977
