West African Resources Limited (ASX/TSXV:WAF) Confirms High Grade Depth Potential at Mankarga 5: 38madmin
West African Resources Limited (ASX/TSXV:WAF) Confirms High Grade Depth Potential at Mankarga 5: 38m at 2.19g/t Au from 244m including 5m at 8.87g/t Au
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Perth, Australia, March 18, 2014 /FSC/ – West African Resources Ltd(ASX/TSXV:WAF) Confirms High Grade Depth Potential at Mankarga 5: 38m at 2.19g/t Au from 244m including 5m at 8.87g/t Au
Perth, Mar 19, 2014 (ABN Newswire) – West African Resources Limited (ASX:WAF) (CVE:WAF) is pleased to report high-grade results from the first deep diamond hole at its Mankarga 5 Deposit located on the Tanlouka Permit, part of the Boulsa Project, in Burkina Faso.
The results, part of a 2,500m diamond core drilling program, are located in the southwest portion of the deposit from section SW800 to SW500. TAN14-DD001 and TAN14-DD002 have intercepted mineralisation on sections SW800 and SW600 respectively, at more than 240m down-hole depth.
TAN14-DD005 was a diamond core twin hole on SW500 which correlates well with TAN11-RC-58 which returned 38m at 3.53g/t Au from surface. Full results are presented at the end of this report.
Significant results include:
TAN14-DD001: 38m at 2.19g/t Au from 244m
– including 5m at 8.87g/t Au
TAN14-DD002: 17m at 2.24g/t Au from 258m
– including 4m at 3.39g/t Au and 1m at 18.26g/t Au
TAN14-DD005: 34m at 4.0g/t Au from 11m
– including 22m at 5.52g/t Au
“We remain focussed on initial production from oxide material at Mankarga 5 via a low-cost heap leach starter project, which has potential to fund the development of a larger project in future years, subject to further exploration success. We have set a goal of being a +50,000oz per annum gold producer within two years, subject to study outcomes,” Managing Director Richard Hyde said.
An updated cross-section of SW800 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 company recently reported significant oxide results from a 5,000m RC drilling program along 2km strike at Mankarga 5. Deep diamond drilling is ongoing in the south-western portion of the deposit with TAN14-DD03 nearing completion 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 at 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 below in Table 1 in link below.
To view tables and figures, please visit:
To view the press release as a PDF, please click on the following link:
Source: West African Resources Ltd (TSX-V: WAF) http://www.westafricanresources.com
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Posted: March 19th, 2014 under FSCWIRE.