Excellent Oxide Grades From Continuing Oxide Resource Definition Drilling at the Mankarga 5 deposit Burkina Faso
Perth, May 27, 2014 AEST (ABN Newswire) - West African Resources Limited (
ASX:WAF) (CVE:WAF) is pleased to announce results from continuing oxide resource definition drilling at the Mankarga 5 deposit, Burkina Faso. An additional contract reverse circulation (RC) rig has commenced work at the project, in addition to three WAF rigs which have been working following the resource update for Mankarga 5 in April 2014. The contract rig will focus on completing 50m spaced sections to improve resource category to enable detailed feasibility studies later this year. WAF rigs have focussed on filling in gaps in the existing resource model on 100m sections in the oxide zone, as well as testing mineralisation at depth and twinning historic RC drill holes to confirm the integrity of historic drilling.
"We are focussed on initial production from oxide material at Mankarga 5 via a low-cost heap leach starter project. Scoping study results based on the existing resource will be reported by the end of June. New drilling results will be incorporated into a resource update later this year. We have set a goal of being a +50,000oz per annum gold producer within two years, subject to study outcomes." Oxide resource definition drilling on 100m sections has returned significant results which will improve grade and category of the resource model in future resource updates. Significant results from the ongoing drilling program include:
- TAC0153: 30m at 2.48g/t Au from surface including 2m at 6.83g/t Au and 2m at 18.55g/t Au
- TAC0158: 20m at 2.75g/t Au from 12m including 8m at 3.45g/t Au
- TAC0160: 21m at 5.43g/t Au from surface including 14m at 7.21g/t Au
- TAC0166: 22m at 1.60g/t Au from 9m including 4m at 3.68g/t Au
Ongoing diamond drilling on 100m sections has also returned significant results which include:
- TAN14-DD003: 7m at 4.09g/t Au from 333m including 3m at 7.83g/t Au
- TAN14-DD004: 12m at 4.82g/t Au from 129m including 1m at 51.31g/t Au
- TAN14-DD005: 34m at 4.00g/t Au from 11m including 22m at 5.52g/t Au*
- TAN14-DD008: 29m at 1.31g/t Au from 9m including 5m at 3.53g/t Au
- TAN14-DD008: 20m at 1.03g/t Au from 43m
*Reported previously 19/3/14
Contract shallow RC (aircore) drilling has commenced on 50m spaced sections which will improve the grade, geological continuity and resource category in future resource estimates. The contract rig will complete 8,000m of drilling for a budget program of $250,000.
An updated cross-section of SW100 and summary plan showing results from recent drilling as well as is shown in Figures 1 and 2 in link below, with results presented in Tables 2 and 3 in link below.
Further metallurgical test work for the Mankarga 5 deposit is underway following the excellent recoveries announced earlier this month (ASX, TSXV: 9/5/14). Scoping studies into a low-cost heap leach starter project at Mankarga 5 are well advanced, and we look forward to reporting the results of these studies by the end of June 2014.
The Company is focussed on near-term production with the immediate focus on the Mankarga 5 deposit and existing nearby gold prospects. The Company aims to be a +50,000oz per annum gold producer within two years, subject to study outcomes, via a low-cost heap leach starter project. In February, West African secured a second-hand 1.6Mtpa heap leach plant as part of its plan to fast-track development of Mankarga 5. The proposed project development schedule for Mankarga 5 and surrounding prospects is shown in Table 1 in link below.
To view figures, tables and the release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-WAF-678946.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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