High-Grade Gold Mineralization Intersected in Scout Drilling at the New Charger Prospect, Odienné Project

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VANCOUVER, BC, June 14, 2021 /CNW/ - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC) is pleased to announce new high-grade gold mineralization in scout Reverse Circulation ("RC") drilling at the newly-defined Charger prospect, which is located 3km north of the high-grade Empire Main gold discovery. Results have now been received for 22 holes of an initial 23 hole / 1,634m RC program at Charger (Figures 1 to 3), with highlights including:

  • OERC-89 - 1m at 20.3 grams per tonne gold ("g/t Au") from 16m downhole, plus

  • OERC-91 - 16m at 0.8 g/t Au from 2m downhole

* True widths of mineralization are unknown from this scout percussion drilling program.

Link to Figures: https://www.awaleresources.com/_resources/maps/2021-06-10-Figures-Charger-Scout-Drilling-V3-Final.pdf

The Charger prospect is a 600m long auger soil gold anomaly (with gold values consistently >90 parts per billion, and a peak value of 0.56 g/t Au; see Company News Release dated March 23, 2021), with this initial drill program consisting of three 160 meter-spaced drill lines targeting the central portion of the anomaly.

The high-grade gold mineralization at Charger is hosted within a diorite body interpreted to have intruded the nose of a fold structure (see Figure 2). The diorite host is variably iron-altered (hematite, magnetite +/- chlorite) with both disseminated sulphide and sulphide veins (Figure 5). This style of alteration is different to that of the Empire Main discovery and is believed by the Company to be conducive to a high grade disseminated style of mineralisation. Follow-up diamond drilling to determine the precise geometry of this new mineralized zone at Charger is currently expected to commence on or around the 16th of June.

Company CEO Glen Parsons commented today:

"We have initial exciting, high grade fresh rock intercepts from the first shallow scout drilling program at Charger.

These new high grade results at Charger are hosted in a fold hinge target that has uncovered a new style of alteration and mineralisation for the Empire Corridor. The Iron Alteration with disseminated sulphides differs from Empire Main and presents as a potential new high grade disseminated style of mineralisation proximal to Empire Main.

These results at Charger and of course Empire Main highlight multiphase fluid flow, alteration, and mineralized systems of the greater Odienné Project, reinforcing Awalé Resources ability to continually unlock and develop the potential for a significant gold camp in Côte d'Ivoire.

We are pleased to be planning and preparing for an immediate follow up diamond and RC phase of drilling to determine the geometry and orientation of the intercepted mineralization"

We also anticipate reporting results from the Empire Main targets in the ensuing weeks as well as initial results from the Bondoukou Scout drilling program in July."

Table 1: Significant Intercepts - All Charger Drilling

Hole ID

East

North

RL

Depth

Incl

Azimuth

From

To

Length

Au ppm

OERC0081

647756

1032146

480

64

-50

292

24

26

2

0.4


31

32

1

0.5

47

48

1

0.3

OERC0082

647727

1032158

480

72

-50

292

15

18

3

0.5


69

72

3

0.5

OERC0083

647692

1032174

480

56

-50

293

0

1

1

0.6

OERC0084

647669

1032184

481

72

-50

293

0

1

1

0.3


12

13

1

0.2

26

27

1

0.8

31

33

2

0.4

39

42

3

0.6

47

48

1

0.2

49

50

1

0.2

61

62

1

0.8

OERC0085

647635

1032197

481

65

-50

293

7

8

1

0.2

OERC0086

647609

1032207

480

60

-50

293

6

7

1

1.6


14

15

1

0.2

29

31

2

0.3

OERC0087

647579

1032219

477

60

-50

293

18

19

1

0.4


28

30

2

0.3

33

37

4

0.6

45

47

2

1.3

51

54

3

0.4

OERC0088

647733

1032333

471

66

-50

292

13

14

1

0.3








26

27

1

0.2








38

40

2

0.2








42

43

1

3.2








48

49

1

0.3

OERC0089

647790

1032308

471

60

-50

292

2

3

1

1.1


11

12

1

0.3



13

34

21

2.6

Including

16

17

1

20.3

and

30

33

3

9.0


38

39

1

0.9

50

51

1

2.3

OERC0090

647816

1032296

472

60

-50

292

2

3

1

0.2

OERC0091

647845

1032281

474

120

-50

292

2

18

16

0.8


Including

4

7

3

1.7

and

14

15

1

2.6

OERC0092

647661

1032358

484

75

-50

112

17

18

1

0.4


24

25

1

0.3

30

31

1

0.2

56

58

2

0.4

63

68

5

0.3

OERC0093

647732

1032334

472

78

-50

112

55

57

2

0.3


69

70

1

0.2

71

72

1

0.3

OERC0094

647529

1032071

470

60

-50

292

0

3

3

0.5


4

5

1

0.2

OERC0095

647553

1032057

471

70

-50

292

0

4

4

0.6


39

40

1

0.2

OERC0096

647581

1032049

472

69

-50

292

0

4

4

0.6


14

15

1

0.3

17

19

2

1.1

63

64

1

0.3

OERC0097

647609

1032037

473

70

-50

292

0

3

3

0.6


8

12

4

0.3

16

17

1

0.4

29

30

1

0.2

OERC0098

647639

1032026

474

61

-50

292

0

4

4

0.4

OERC0099

647665

1032013

475

55

-50

292

0

1

1

0.4

OERC0100

647694

1032003

471

63

-50

292

0

1

1

0.3

OERC0101

647698

1032170

480

132

-50

293

65

70

5

0.5


73

81

8

0.5

OERC0115

647843

1032377

476

66

-55

180

9

10

1

0.3


14

15

1

0.2

25

26

1

2.1

41

42

1

0.2

OERC0116

647854

1032401

476

80

-55

180

Results Not Received

* Significant Intercepts calculated using a 0.2 g/t Au trigger value and include 2m of internal waste. No High Cuts.

Quality Control and Assurance

Analytical work for auger 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 preparation laboratory in Yamoussoukro, Cote d'Ivoire 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 Ghana where a 50g charge is Fire Assayed with an AAS finish. 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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SOURCE Awale Resources

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View original content: http://www.newswire.ca/en/releases/archive/June2021/14/c5311.html

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