West African Resources Limited (ASX/TSXV:WAF) Consistent High Grade Intercepts Along 2 km of Strikeadmin
West African Resources Limited (ASX/TSXV:WAF) Consistent High Grade Intercepts Along 2 km of Strike at Mankarga 5
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Perth, Australia, March 17, 2014 /FSC/ – West African Resources Limited (ASX:WAF) (CVE:WAF) is pleased to report final gold results from a 5,000m reverse circulation (RC) drilling program at its Mankarga 5 Deposit located on the Tanlouka Permit, part of the Boulsa Project, in Burkina Faso.
“We are very pleased with the final results from the shallow RC drilling program at Mankarga 5. The program has been very successful with consistent high-grade mineralisation intercepted along 2km of strike. The new data will result in an increase in the grade of oxide mineralisation which will be reported in the updated resource estimate for the Mankarga 5 deposit later this month,” Managing Director Richard Hyde said.
This announcement finishes the 5,000m shallow RC program at the Mankarga 5 deposit. The program has been completed since acquiring TSX-V listed Channel Resources less than two months ago. The results in this report cover more than 1km of strike on the central and northeast portions of the deposit from section NE100 to NE1250. Significant results include:
TAC0045: 9m at 1.44g/t Au from 48m
TAC0048: 12m at 8.82g/t Au from 38m; including 9m at 11.35g/t Au
TAC0050: 8m at 5.69g/t Au from 35m; including 1m at 41.51g/t Au
TAC0051: 14m at 2.42g/t Au from 9m; including 1m at 21.22g/t Au
TAC0052: 17m at 0.99g/t Au from 6m
TAC0058: 24m at 1.33g/t Au from 15m
TAC0072: 16m at 0.95g/t Au from 18m
TAC0101: 14m at 1.12g/t Au from 9m
TAC0116: 17m at 2.23g/t Au from 12m; including 5m at 4.56g/t Au
The recent results from the West African drilling complements historic diamond drilling and RC highgrade results on the same sections, which include:
TAN11-RC-39: 50m at 2.18g/t Au from 28m
TAN11-DD-47: 28.5m at 3.41g/t Au from 5m
TAN11-RC-40: 50m at 1.49g/t Au from 64m
TAN11-RC-62: 42m at 1.48g/t Au from 12m
TAN11-DD-02: 27.1m at 1.97g/t Au from 34m
TAN11-DD-21: 8.6m at 5.85g/t Au from 100m
TAN11-DD-33: 22.5m at 2.2g/t Au from 212m
An updated plan showing results from recent RC drilling as well as historic drilling is shown in link below in Figure 1 with results presented in Table 2 and 3 at the end of this report. Deep diamond drilling is ongoing in the south-western portion of the deposit, with TAN14-DD03 nearing completion, following some delays due to mechanical issues on section SW700. Test work has commenced in Perth on samples from the four metallurgical diamond holes, which will determine expected recoveries from heap leach processing.
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 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.
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.
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Source: West African Resources Ltd (TSX-V: WAF) http://www.westafricanresources.com
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Posted: March 18th, 2014 under FSCWIRE.