Awalé Completes Drilling on BBM Satellite Targets at the Odienné Project
2,416 metres of RC drilling in 28 holes completed over the BBM satellite targets, with initial results expected in Q2 2025.
The program comprised of 4 scout drill lines consisting of approximately 7 shallow RC holes over higher order geochemical anomalies within the BBM trend.
Satellite targets hold potential for new discoveries within 1 to 3 kilometres from BBM.
Awalé also awaits results from drilling at the Charger, Empire, Fremen, and Lando targets.
Toronto, Ontario--(Newsfile Corp. - April 2, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to announce the completion of a 28-hole, 2,416-metre reverse circulation ("RC") scout drill program targeting potential satellite mineralization along strike from the BBM discovery at the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. These targets represent new prospective zones for potential discoveries in close proximity to BBM, which have been drilled as part of a broader 18,000m drill campaign across multiple targets at the Project.
The BBM discovery and its potential satellite targets reported in this release lie along the same structural corridor spanning over 15km, extending from Awalé's 100%-owned Fremen target in the southeast to the Lando target in the northwest. The satellite target program comprised 4 scout RC drill lines consisting of approximately 7 shallow RC holes per line over higher order geochemical anomalies within the BBM trend (see Figure 1 below). Each drill fence is targeting a potential satellite discovery within 1 to 3 kilometres of the BBM discovery zone. A recently completed Induced Polarization ("IP") geophysics survey along the BBM trend helped refine the drill program by delineating structural targets coincident with the Company's soil and termitaria anomalies. The RC drilling and IP surveys are a continuation of the previously announced 5km IP survey at the Fremen target (see February 11, 2025 news release). Assays from this program are expected in Q2 2025. The Company also eagerly awaits results from drilling at the Charger, Empire, Fremen, and Lando targets throughout the second quarter of 2025.
"Exploration is advancing rapidly at the Odienné Project, where the Company is close to completing a 18,000-metre diamond and RC drill program. The RC drill program commenced at the Fremen target and has since progressed onto the properties joint ventured with Newmont, where we have recently completed 28 holes over potential satellite targets in close proximity to the BBM discovery. Satellite discoveries near BBM represent potential incremental resources for the BBM zone. We look forward to releasing results from this program in Q2 2025. Since completion of this program, the rigs have mobilized to the Lando target, the last target from our 18,000m program, where Awalé will continue to apply its disciplined, systematic exploration approach as it works to unlock new discoveries and deliver long-term value for shareholders," commented Andrew Chubb, CEO of Awalé Resources.
Figure 1: Induced Polarization 'Chargeability' image with the BBM and Fremen targets shown. Scout drill lines for the BBM target are shown as black lines.
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/10016/247060_82c07b49c44b98c6_002full.jpg
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d'Ivoire, where the Company is exploring the Odienné Copper-Gold Project ("Odienné" or the "Project"), covering 2,489 km2 across seven permits. This includes 796 km2 in two permits held under the Awalé-Newmont Joint Venture ("OJV"). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited ("Newmont").
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum mineralized systems within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024.
The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well-seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Abbreviations Used in this Release
IP
Induced Polarization
km
Kilometres
m
Metres
RC
Reverse circulation
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 Executive 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 Geoscientists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.
AWALÉ Resources LimitedOn behalf of the Board of Directors
"Andrew Chubb"Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:Andrew Chubb, CEO(+356) 99139117a.chubb@awaleresources.com
Ardem Keshishian, VP Corporate Development+1 (416) 471-5463a.keshishian@awaleresources.com
The Company's public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.awaleresources.com.
Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Neither the 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247060
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