West African drills 2.5 m of 37.8 g/t Au at San­brado

Stockwatch Daily - - MINES & METALS - Mr. Richard Hyde re­ports

WEST AFRICAN Re­sources Ltd. has re­leased fur­ther high-grade drilling re­sults from its San­brado gold project, Burk­ina Faso.

High­lights:

• High-gra de re­sults from depth at M1 South in­clude:

• 7.5 me­tres at 15.2 grams per tonne gold from 565.5 m, in­clud­ing 2.5 m at 37.8 g/t Au;

• 5.5 m at 10.8 g/t Au from 584.5 m, in­clud­ing one m at 41.7 g/t Au;

• Three m at 9.7 g/t Au from 579.5 m;

• 1.5 m at 14.1 g/t Au from 547 m;

• Three drill rigs cur­rently on site dou­ble shift­ing, in­fill­ing and ex­tend­ing min­er­al­iza­tion;

• Ground geo­phys­i­cal sur­vey com­pleted — data pro­cess­ing in progress;

• Re­source up­date com­ple­tion by end of Oc­to­ber and up­dated fea­si­bil­ity study in mid-2018;

• Fi­nanced to com­plete all work pro­grams with ap­prox­i­mately$26-mil­lion cash at bank.

Man­ag­ing di­rec­tor Richard Hyde said: “Deep drilling at M1 South has in­ter­cepted high-grade min­er­al­iza­tion at more than 450 ver­ti­cal me­tres be­low sur­face. Min­er­al­iza­tion re­mains open along strike to the north­west and at depth.

“TAN17-DD162 in­ter­cepted 5.5 m at 10.8 g/t Au from 584.5 m, in­clud­ing one m at 41.7 g/t Au, which is the deep­est re­sult to date. TAN17-DD165 in­ter­cepted 7.5 m at 15.2 g/t Au from 565.5 m, in­clud­ing 2.5 m at 37.8 g/t Au.

“The com­pany will de­liver a re­source up­date in the com­ing weeks, and an up­dated fea­si­bil­ity study in mid-2018.”

M1 South drilling pro­gram

Deep drilling at M1 South has in­ter­cepted high-grade min­er­al­iza­tion demon­strat­ing the M1 South struc­ture re­mains wide open at depth and along strike to the north­west. TAN17-DD162 on Sec­tion SE400 is the deep­est re­sult to date, tak­ing min­er­al­iza­tion 450 me­tres be­low sur­face. TAN17-DD165 in­ter­cepted high-grade min­er­al­iza­tion, as well as 25 m along strike to the north­west on Sec­tion SE375. Drilling is con­tin­u­ing, in­fill­ing and ex­tend­ing min­er­al­iza­tion, with two con­tract di­a­mond rigs dou­ble shift­ing.

Sig­nif­i­cant re­sults from re­cent drilling in­clude:

• TAN17-DD162: 5.5 m at 10.78 g/t Au from 584.5 m, in­clud­ing one m at 41.7 g/t Au;

• TAN17-DD162: two m at 9.02 g/t Au from 611.5 m;

• TAN17-DD163: one m at 7.58 g/t Au from 502 m;

• TAN17-DD163: three m at 9.68 g/t Au from 579.5 m;

• TAN17-DD164A: 1.5 mat 14.11 g/t Au from 547 m;

• TAN17-DD165: 0.5 m at 19.9 g/t Au from 548.5 m;

• TAN17-DD165: 7.5 m at 15.22 g/t Au from 565.5 m, in­clud­ing 2.5 m at 37.8 g/t Au.

The com­pany will de­liver a re­source up­date in the com­ing weeks, in­cor­po­rat­ing re­sults from TAN17-DD162 and TAN17-DD165. The com­pany will ac­cel­er­ate drilling again with at least six drill rigs from early Novem­ber, for the du­ra­tion of the 2017-2018 field sea­son (Nov. 17 to July 18).

De­tail ground mag­net­ics and in­duced po­lar­iza­tion sur­veys have been com­pleted, and data are cur­rently be­ing pro­cessed.

Drill plan­ning is cur­rently un­der way, and a fur­ther ex­plo­ration and drilling up­date will be made in early Novem­ber, once data from the geo­phys­i­cal sur­veys and a struc­tural study have been re­viewed. The com­pany ex­pects to re­lease an ad­di­tional re­source up­date in sec­ond quar­ter 2018 ahead of com­plet­ing and an up­dated fea­si­bil­ity study in mid-2018.

We seek Safe Har­bor.

Karen Bax­ter con­densed this news re­lease (karenb@stock­watch.com).

Mark Con­nelly, Richard Hyde, Si­mon Storm

(WAF) Shares: 578,699,727

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