Quarterly Activities Report
Perth, May 1, 2014 AEST (ABN Newswire) - West African Resources Limited (
ASX:WAF) (CVE:WAF) is pleased to report activities on its 100%-owned and 100%-earning gold and copper-cold projects in Burkina Faso, West Africa, for the quarter ending 31 March 2014.
An updated independent resource estimate for the Mankarga 5 deposit at the Tanlouka Permit, part of the Boulsa Gold Project, was completed and reported on 14 April 2014, increasing the Inferred Resources by 74% and the Indicated Resources by 12% (using a 0.5g/t gold cut-off). This followed West African entering an agreement to acquire the remaining 10% of the Tanlouka Permit in March. The Company now has the right to earn 100% of the project following completion of a positive feasibility study.
West African purchased a used 1.6 Mtpa heap leach plant for the Boulsa Project in February and is targeting gold production from the Mankarga 5 deposit within two years. A scoping study to determine the economic potential of a low cost heap leach starter project will be completed by the end of June 2014.
A breakdown of drilling for the March Quarter includes:
- Diamond: 10 holes for 1,828.2 m
- Auger: 281 holes for 1,550 m
- AC: 72 holes for 1,925 m
Exploration Highlights
- Completed aircore program at Mankarga 5 (4,600m)
- Ongoing diamond program at Mankarga 5 (1,200m+)
- Auger drilling encompassing Tanlouka tenement commenced (Mankarga 1-4, Manesse, Tanwaka targets)
- Aircore program commenced at Goudré
March 2014 Quarter Summary:
- 5,303m drilled
- $930k Exploration Expenditure
- $352k Administration Costs
- $1.2m cash at 31 March 2014 ($4m after April placement)
- Fully funded exploration programs into 2014
To view the complete quarterly activities report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-WAF-676360.pdf
About West African Resources Limited
West African Resources Limited (
ASX:WAF) (CVE:WAF) is a gold-copper exploration company dedicated to creating shareholder value through the acquisition, exploration and development of resource projects in Burkina Faso, West Africa.
West African has a landholding of 6,370sq km and 200km of strike length of early Proterozoic Birimian greenstone belts, which are highly prospective for gold mineralisation.
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