2014-03-10 14:45:17 -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Perth, March 10, 2014 /FSC/ - West African Resources Ltd., (ASX, TSXV: WAF) is pleased to report further high grade results from a 7,500m reverse circulation (RC) and diamond core drilling program at its Mankarga 5 Deposit located on the Tanlouka Permit, part of the Boulsa Project, in Burkina Faso.
Results cover 600m of strike on the southwest portion of the deposit from section SW600 to the central line (000). Since 7th February the Company has reported high-grade results along 800 metres of strike at Mankarga 5. Full results are presented in the link at the end of this release however significant results include:
28m at 1.87g/t Au from 8m including; 1m at 6.02g/t Au and 1m at 15.61g/t Au and;
9m at 5.95g/t Au from 40m including; 5m at 9.7g/t Au ending in mineralisation
TAC0034: 8m at 0.94g/t Au from 19m
TAC0038: 6m at 3.54g/t Au from 53m including; 1m at 17.16g/t Au
TAC0040: 9m at 0.81g/t Au from 35m and;
1m at 6.15g/t Au from 56m
TAC0042: 14m at 1.1g/t Au from 10m and;
11m at 3.11g/t Au from 27m including; 1m at 15.16g/t Au and 3m at 4.54g/t Au
Drilling programs in conjunction with a reinterpretation of the Mankarga 5 deposit will lead to a resource update towards the end of this month. The combination of the results of the work programs will enable West African to complete a Preliminary Economic Analysis (PEA) and Scoping Study in the first half of 2014.
The recent results from West African drilling complement historic diamond drilling and RC high-grade results on the same sections which include:
TAN10-RC-07: 12m at 2.85g/t Au from 66m
TAN11-DD-22: 16.2m at 2.25g/t Au from 65m
TAN11-DD-43: 12m at 2.43g/t Au from 99m
TAN11-DD-50: 7.5m at 2.72g/t Au from 92m
TAN11-RC-58: 38m at 3.53g/t Au from surface including 16m at 5.77g/t Au
TAN12-DD-67: 24m at 4.86g/t Au from 150m including 10.5m at 9.02g/t Au
TAN12-DD-68: 21m at 2.91g/t Au from 85.5m including 3m at 5.95g/t Au & 1.5m at 10.65g/t Au
An updated cross-section of SW600 showing results from recent RC drilling as well as historic drilling is shown below in Figure 1 and 2 with results presented in Table 2 and 3 at the end of this report. The current work program at Mankarga 5 includes shallow RC drilling (5,000m - completed) over 25 sections along 2.8km strike, six 350m oriented diamond core holes (2,100m - ongoing) beneath open zones at depth, and metallurgical test work drilling along the strike of the deposit (400m - completed). Deep diamond drilling is ongoing in the south-western portion of the deposit with TAN14-DD03 nearing completion on section SW700. The four metallurgical test work holes have arrived in Perth. Test work is to commence this week and will determine expected recoveries from heap leach processing. Historic test work on Mankarga 5 mineralisation has returned excellent results including up to 95.3% gold recovery from oxide and up to 92.3% gold recovery from sulphide material in bottle roll tests.
The Company is focussed on near-term production with the immediate focus on the Mankarga 5 deposit and existing nearby gold prospects. The Company has set a goal of being 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 announced it had 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 link below in Table 1.
About West African Resources and the Boulsa Gold Project
The Boulsa Project in Burkina Faso covers over 6,000km2 and 200km of strike length of early Proterozoic Birimian greenstone belts which are highly prospective for gold mineralisation. In January 2014 West African Resources Ltd acquired Channel Resources Ltd, which owned the Tanlouka Permit hosting the Mankarga 5 deposit.
West African Resources Ltd is focused on cost-effective exploration, by keeping our administration and corporate costs to a minimum and exploring as expeditiously as possible. We own and operate a fleet of six drill rigs which are working continuously on the Boulsa Gold Project. Our drill fleet includes three auger rigs, one RAB rig and two multi-purpose RCdiamond rigs. In Burkina Faso we have a local exploration, drilling and support team of more than 50 people. The Company is committed to the training and development of our local workforce.
The information relating to the Mankarga 5 Mineral Resource Estimate is extracted from Channel's NI43-101 report dated August 17, 2012 and is available to view on www.westafricanresources.com and on Channel Resources Ltd's profile on www.sedar.com. Supplementary information about the Mangarga 5 Mineral Resource is also included in the Company's December 2013 Quarterly Report.
To view all tables and figures, please visit:
About West African Resources Limited
Dual listed (TSX-V and ASX) West African Resources Limited 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.
Link: Report High Grade Gold Results from Mankarga 5 Deposit
Source: West African Resources Ltd (TSX-V: WAF) www.westafricanresources.com
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