VANCOUVER, BC, Aug. 10, 2021 /CNW/ - Awalé Resources Limited
("Awalé" or the "Company") (TSXV: ARIC) is
pleased to announce that following the recent high grade IOCG
("Iron Oxide Copper Gold") styled discovery at the Charger
prospect, significant copper/gold ("Cu/Au") anomalism has been
delineated in geochemistry surveys completed over the greater
Odienné Permit area (Figure 1 and 2). Highlights include:
- Delineation of a >5 km long Cu-Au soil anomaly with Cu
values up to 0.18% ('Sceptre Target' in Figure 3). The Sceptre
Target is located north of the Charger Prospect where recent drill
results of up to 14.3 grams per tonne ("g/t") Au and 0.76% Cu were
reported by the company on 22nd July 2021. The new Sceptre Anomaly was delineated
using a combination of Company and former Randgold Resources (now
Barrick) legacy data sourced by the company.
- Significant gold anomalism is associated with this copper
anomaly, with a peak value of 1.6 g/t Au in company soil sampling.
Gold anomalies are not isolated and several >1km and up to 2km
long trends have been delineated, coincident nickel, arsenic and
lead anomalies are also associated with the same Cu anomaly (Figure
3).
View Attached Figures:
http://www.awaleresources.com/_resources/maps/2021-08-09-Figures-Odienne-Geochemistry-Final.pdf
Company CEO Glen Parsons
commented today:
"The recognition and
significance of this >5km copper anomaly with associated gold is
a result of the recent discovery of IOCG style mineralization at
Charger, this has given us the exciting opportunity to place such
anomalism in context using new interpretation and a new
mineralization model at Odienné.
Since Awalé acquired the
Odienné Project and commenced exploration, the company has been
aware of significant base metal anomalism within the greater
Odienné project area. Now, with this new understanding comes the
reinterpretation of Odienné targets which has created significant
excitement as to the potential scale of mineralization around these
current prospects and the greater Odienné Project, as we advance
our exploration focus.
We look forward to rapidly
developing these current targets through further geophysics,
geochemistry and drilling as the monsoon rains abate."
Figure 2 highlights that detailed geochemistry has been
completed over just 25% of the granted permit area and has
delineated gold and/or copper anomalism at all prospects sampled so
far, as well as leading to the Empire high grade gold discovery.
Further high grade gold intercepts have been recorded in all drill
programs completed to date. There are at least 3 new targets to
follow up within the 5km anomaly discussed in this release, as well
as other prospective areas within the permit area that contain
significant stream sediment anomalism as well as artisanal mining
zones.
During the monsoon season the company plans to continue mapping
and geochemistry over these targets with a view to flying aerial
magnetic and radiometric surveys followed by trench and drill
programs from late Q3 to the end of the 2021 year.
Awalé is using an IOCG model as the setting for the Odienné
Projects which consists a suite of volcanic and volcaniclastic
rocks of basaltic to intermediate composition that are intruded by
a series of late plutons. The project area sits on the margins of
an interpreted deep seated major crustal structure that extends
from Cote d'Ivoire westward into
Guinea for over 200km. Recent
studies show that a large igneous intrusive province has formed
along this structure, and this province extends through Odienné –
see inset in figure 2. This along with the occurrence of copper and
gold anomalies within iron oxide and potassic alteration in the
Odienné permit area has led to the company to postulate an IOCG
model to explain the Cu-Au anomalism withing the project area.
Background on Randgold Geochemical Sampling
Randgold resources complete early phase exploration with the
Government Mineral Development Group SODEMI (Société pour le
Developpement MInier de la Côte d'Ivoire) in the mid 90's. The
Company has been able to retrieve a portion of this original data
from Randgold Resources (now Barrick). Randgold collected and
analyzed over 15,000 Soil samples in the district, of which the
company has 11,212 data points, of these 3,942 samples lie within
the bounds of the Odienné Est Permit. Most samples were analyzed
for gold (95%) and 99% of samples analyzed for Copper and Zinc with
varying numbers of samples analyzed for Arsenic, Nickel, Lead and
Silver. The data obtained by Awalé was collected between 1994 and
1996, other work was completed by the joint venture which included
trenching, mapping and regional sample, raw data for this work has
not been found but maps and reports do exist.
Soil and Termitaria sampling completed by the company both
covers new areas along with overlap areas to verify Randgold work.
Simple statistical analysis of Awale Soils compared to Randgold
soils that lie within the Odienné Est permit show the data sets are
similar when assessing grade thresholds and background tenor for
copper and gold (Table 1).
Table 1: Statistics for Awale and Randgold soil and termite
samples within the Odienné Est Permit
Percentile
|
Awale - Soil
Samples
|
Randgold - Soil
Samples
|
Awale - Termite
Samples
|
|
Copper_ppm
|
Gold_ppb
|
Copper_ppm
|
Gold_ppb
|
Copper_ppm
|
Gold_ppb
|
|
70
|
72
|
11
|
58
|
17
|
47
|
3
|
|
80
|
86
|
17
|
71
|
26
|
57
|
5
|
|
90
|
112
|
36
|
101
|
48
|
76
|
10
|
|
95
|
254
|
81
|
148
|
80
|
91
|
17
|
|
98
|
220
|
199
|
254
|
184
|
128
|
33
|
|
99
|
263
|
343
|
369
|
317
|
164
|
57
|
|
Max Value
|
596
|
2150
|
1875
|
1677
|
464
|
954
|
|
Total
Number of
Samples
|
2945
|
3942
|
2298
|
|
|
Quality Control and Assurance
Analytical work for auger/soil and termitaria geochemical
samples is being carried out at the independent Intertek
Laboratories Australia Ltd. an ISO 17025 (2017) Certified
Laboratory. Samples are stored at the Company's field camps and put
into sealed bags until collected by Intertek from the Company's
secure Bondoukou or Odienné office and transported by Intertek to
their laboratory in Tarkwa, Ghana
for preparation. Samples are logged in the tracking system,
weighed, dried and pulverized to better than 85%, passing a
75-micron screen, this pulp sample is then shipped to Australia where 10-gram split is analysed by
ICP/MS with an Aqua Regia digest. Blanks, duplicates and certified
reference material (standards) are being used to monitor laboratory
performance during the analysis.
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 Operating 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 Geologists (SEG). Mr Chubb has 18
years of experience in international minerals exploration and
mining project evaluation.
ON BEHALF OF THE BOARD
AWALE RESOURCES
LIMITED.
"Glen
Parsons"
Glen Parsons, President and
CEO
Forward-Looking Information
This news release contains "forward-looking information"
within the meaning of applicable securities laws. Readers are
cautioned not to place undue reliance on forward-looking
information. Actual results and developments may differ materially
from those contemplated by such information. The statements in this
news release are made as of the date hereof. The Company undertakes
no obligation to update forward-looking information except as
required by applicable law.
Cautionary Statement
NEITHER 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
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content:https://www.prnewswire.com/news-releases/awale-resources-delineates-significant-surface-coppergold-anomalies-at-the-odienne-project-cote-divoire-301352009.html
SOURCE Awale Resources