IP Geophysics Surveys begins at Odienné gold-copper project

Ground geophysics (Induced Polarization, or ‘IP’) survey has commenced at the Odienné gold-copper Joint Venture project in Cote D’Ivoire.

Awalé Resources Limited made the announcement and said the survey will allow for the prioritization of these targets for a scout drill program expected to commence in December 2022. The Odienné Project is subject to an earn in joint venture agreement with Newmont Ventures Limited (“Newmont”).

Scope of work

The IP survey will cover the core of the 2.2 km long Sceptre East and the high grade Charger Iron Oxide Copper Gold (“IOCG”) targets and the results  will be reported in November to pave way for the drilling program. The current work program is being funded by Newmont as part of an earn-in JV agreement through which Newmont retains the option to earn-in to a minimum 65% interest, from Awalé, in the Odienné project in return for the sole funding of USD 15M in exploration. Awalé is the project manager for the initial 3-year phase.

Company CEO Glen Parsons commented: “We are pleased to announce the continued drive toward exploration success at Odienné with the commencement of this IP program. We are eager to complete this phase of geophysics for the JV to finalise an initial scout drill program at Sceptre and follow up drilling at Charger, both of which are scheduled for the end of Q4.

Awalé has recently achieved significant milestones and we are building our exploration pipeline with new targets such as the Lando target and progressing existing ones such as Sceptre and Charger toward drilling. The compelling new 4km long Lando target has the same geochemical footprint to the Sceptre and Charger targets. Exploration intensity is increasing as the wet season closes and we look forward to keeping the market informed of our progress”