Copper-gold assay results to trigger resource upgrades

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 21 Nov 2013   Posted by admin


POSITIVE assay drill results at West African Resources’ wholly-owned Sartenga copper-gold discovery within the Boulsa project are expected to lead to both tonnage and grade resource upgrades by the end of the year.
Two diamond drill rigs are in operation at the Burkina Faso project, focussed on defining higher grade breccia zone along the south-eastern margin of the deposit, where strong copper, gold and molybdenum grades have been indicated.
Recent results include 231m grading 0.6 per cent copper equivalent from 100m, with a 21m interval from 201m grading 1.1 per cent copper equivalent, and will be used to upgrade the 174,000t copper and 651,000oz gold inferred resource announced in June 2012.
Definition air core drilling also began at the Moktedu prospect, with first results expected by mid-November. This prospect contains more than 10 targets across a cumulative total of more than 10km strike length. The central 500m of the prospect has been drilled with wide-spaced reverse core and diamond drilling returning results including 21m grading 1.13g per tonne of gold from 121m.
West African Resources previously announced that its definitive agreement with Channel Resources was progressing on schedule, with completion expected by the end of November. West African Resources already holds 19.9 per cent of Channel’s shares and intends to acquire all of the issued and outstanding common shares in Channel; by late October it had entered into ‘hard-lockup’ agreements with a further 8 per cent of Channel shareholders.
Channel owns the Tanlouka gold project, which is immediately adjacent to the Moktedu prospect. Following the acquisition, West African Resources intends to capitalise on near-term production potential resulting from the consolidation of shallow gold mineralisation at both Moktedu and Tanlouka.