Awalé Resources issues update on Odienné Project in Côte d’Ivoire
Awalé Resources has provided an update on its ongoing drill program at the Charger Target as part of the Odienné Project in the Northwest of Côte d’Ivoire.
The company has reported that the first two drill holes completed at the Charger Target have intersected visible gold in extensions to previously reported intervals of high-grade gold-copper mineralization. These drill holes were designed to target mineralization underlying a previously reported intercept in a reverse circulation (RC) drill hole called OERC-132, which returned a result of 32 meters at 3.0 grams per tonne of gold (g/t Au) and 96 grams per tonne of copper (g/t Cu). The new drill holes are interpreted to define a down-dip extension of the mineralization encountered in OERC-132 and a potential new parallel mineralized structure.
The presence of visible gold in these drill holes is seen as a positive sign, confirming the depth potential and high-grade fluid flow of the Charger mineralized system. The discovery of a potential new parallel mineralized structure also presents an upside opportunity for the Charger Target, indicating the presence of multiple parallel lodes.
Odienné Project
In one of the drill holes, OEDD-45, multiple points of visible gold were observed over a 10-meter interval between 90 to 100 meters downhole, confirming the presence of mineralization beneath drill hole OERC-132. Additionally, visible gold encountered in another drill hole, OEDD-44, confirms the presence of gold mineralization in a second structure located approximately 80 meters behind and parallel to the initial discovery structure at Charger.
Andrew Chubb, the CEO of Awalé Resources, expressed excitement about the results, stating that the visible gold found 40 meters down dip from the intercept in hole OERC-132 is a fantastic outcome. The discovery of a new parallel mineralized structure with similar characteristics also significantly increases the resource potential of the Charger Target.
Chubb further mentioned that the company is eagerly awaiting the complete multi-element and gold results from these drill holes. Meanwhile, drilling activities continue at the Lando and Sceptre Main targets within the Odienné Copper-Gold Project.
The Odienné Project is a joint venture between Awalé Resources and Newmont Ventures, covering one permit and one application. Newmont has the option to earn-in to a minimum of 65% interest in the Odienné Project JV by spending US$15 million on exploration expenditures. Newmont is currently funding the exploration program, with Awalé managing the project in the initial three-year phase. The budget allocated for 2023 by Newmont for the Odienné Project JV is US$3 million.
