Awale Resources (TSXV: ARIC) is planning on undertaking substantial exploration over the course of the next year. The company this morning announced that it intends to conduct 100,000 metres of drilling at the Odienne Project in Cote d’Ivoire by the end of 2026.
“We are very pleased to launch 100,000 metres of drilling at the Odienné Project, the program consists of a combination of resource development and discovery drilling that is designed to deliver the first resource estimate and preliminary economic study for the Project. We have an impressive inventory of discoveries demonstrating Odienné as a district-scale gold and copper mineralized system, and we have confidence in the potential for the Project to deliver new discoveries in our recently granted permits,” commented Andrew Chubb, CEO of Awale.
The large scale drill program has been broken down into two separate segments, with the first being a 12,000 metre discovery drill program on wholly owned permits. Discovery drilling is to focus on the recently obtained Sama and Seydou permits, which sit along strike from the BBM, Charger, and Empire zones.
The second portion is a 88.000 metre discovery and resource definition drill program at the Odienne East JV.
The program as a whole intends to result in the delivery of an initial resource estimate, alongside a preliminary economic assessment, that are expected to be delivered in the second quarter of 2026. Following that, Awale intends to advance towards a pre-feasibility study that is slated for release in 2027, which is to encompass the BBM, Charger, and Empire zones.
The program on Awale’s wholly owned properties is fully funded by $15 million in cash on hand, while the exploration on the joint venture claims will be funded by Newmont. The program is expected to commence this month upon the end of the rainy season, with five drill rigs expected to execute upon the program. Drilling on the JV claims meanwhile remains subject to Newmont’s ongoing approval.
Awale Resources last traded at $0.58 on the TSX Venture.
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