Awale Resources Jumps As Much As 170% After Hitting 45.7 g/t Gold Over 32 Metres
Awale Resources (TSXV: ARIC) this morning announced a massive intercept at its Odienne Project, which is located in the northwest of Cote d’Ivoire.
The results come from a 4,000 metre, 21 hole drill program that ran from December through to February. The program focused on three targets, with 14 holes drilled at the BBM discovery, four at Charger, and three scout holes drilled at the Lando target. The latest result comes from the Charger target, with highlights including:
- OEDD-83: 26 g/t gold over 57 metres, from a depth of 164 metres
- Including 45.7 g/t gold over 32 metres from a depth of 165 metres
The drill hole, which interested a new breccia pipe, is said to be one of the highest grade gold intersections in Africa in decades, with mineralization consistently high grade throughout the interval. No large nugget effect occurs in the hole, with the company going as far as providing metre-by-metre grade data for the 32 metre interval.
“This drill hole is absolutely spectacular. I have been looking at gold projects for the last 20 years and have never seen anything like this. Odienné has produced very high-grade mineralization since we started drilling, though we always felt that some special things would come as we continued our work. The harder we press at Odienné, the more it gives back, and we’ve only just scratched the surface,” commented CEO Andrew Chubb.
Of the four holes conducted at Charger under the drill program, only OEDD-83 intersected significant mineralization. The company claims that the other three holes focused on testing a new 3D geologic framework for mineralization, while the hole that did hit mineralization was specifically targeting potential mineralization related to a northeast structural control.
Awale Resources last traded at $1.05 on the TSX Venture.
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