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West African Resources Ltd.
Summary
| Project: | Sanbrado | |
|---|---|---|
| Deposit: | M1 | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 6/7/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-6-2017: West African Resources Ltd. announces an Exploration/Drilling Update report for its M1 deposit at the Sanbrado project. Drilling results incl. 21m @ 53.13g/t Au from 408.5m. Gold developer West African Resources Limited (ASX, TSXV: WAF) is pleas | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Richard Hyde (Internal) | |
| ABSTRACT: | Gold developer West African Resources Limited (ASX, TSXV: WAF) is pleased to report high-grade diamond drilling results from the M1 deposit, at its 100%-owned Sanbrado Gold Project, Burkina Faso. Managing Director Richard Hyde commented: “TAN17-DD111 has returned the best hole to date in the 2017 drilling program with 21m at 53.13 g/t Au from 408.5m including 0.5m at 1,613.41 g/t Au and 0.5m at 530.38 g/t Au and 14.5m at 38.27 g/t Au from 459m. "Five out of six diamond holes this year at M1 South have hit extremely high grades over significant widths which will add to the resource base and have a material impact on project economics. “It is essential we define the extent of the deposits and maximise the project NPV, before finalising a development strategy and project finance. The board has decided to focus on resource and extensional drilling for the remainder of 2017, and will revisit development scenarios in the first half of 2018. The Company will complete a resource update in Q3 2017. “West African currently has 6 rigs on site and is well-funded to complete all of our proposed work programs, with $14m cash bank1 and over $7.5m ‘in-the-money’ options.” | |
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