30-Sep-2020: WAF hits 15.5m at 20.5 g/t Au beneath reserves at M1 South
WAF intercepts 15.5m at 20.5 g/t Au including 5m at 52.2 g/t Au beneath reserves at M1 South
Unhedged gold mining company West African Resources Limited (ASX: WAF) is pleased to report high grades and extensive visible gold have been intercepted in the deep diamond drilling beneath reserves at the M1 South deposit, Sanbrado Gold Project, Burkina Faso.
Highlights
- Deep diamond drilling beneath reserves at M1 South returns high grade results including;
- 15.5m at 20.5 g/t Au from 852m including;
- 5m at 52.2 g/t Au and,
- 4m at 10.4 g/t Au
- 32m at 4.9 g/t Au from 854.5m including;
- 4m at 14.3 g/t Au and,
- 4.5m at 18.7 g/t Au
- 7m at 7.8 g/t Au from 1238m including;
- Deepest intercept 950m below surface, 400m beneath current Probable Ore Reserves
- Geological model reinforced
- Demonstrates potential to extend the M1 South underground mine life
- Drilling ongoing with two rigs on site extending high-grade gold mineralisation
West African Executive Chairman Richard Hyde commented:
“High-grade gold mineralisation has been intercepted beneath the current underground ore reserves at M1 South, with diamond drilling returning 15.5m at 20.5 g/t gold and 32m at 4.9 g/t gold.
“The results confirm the predictable geometry of high-grade zone at M1 South. The current drilling program has been designed to extend high-grade mineralisation to support an underground mine life out to 2030.
“Drilling is continuing onsite with two rigs operating on double shift, with further results expected over the coming weeks. Updated resources, reserves and a life of mine plan incorporating new results are expected by late Q4 2020.”
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[I do not hold WAF shares. It's all in the name - West Africa is not where I like my gold companies to be mining. However - there is no denying they've had a good year! WAF is up +161% since April 3rd, when they closed at 41c after a lot of sideways trading in the months leading up to that point. Since early April, it's been a beautiful north easterly trajectory to close today at $1.07, and they were nudging $1.15/share a couple of weeks ago.]
