Awalé Resources releases update on Odienné gold-copper project in Cote D’Ivoire

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Awalé Resources releases update on Odienné gold-copper project in Cote D'Ivoire

Awalé Resources Limited is pleased to provide the following update on ongoing exploration activities at the Odienné gold-copper project in Cote D’Ivoire.

The Odienne Project is subject to an earn in joint venture agreement with Newmont Ventures Limited. The JV is now fully operational, and the Company is pleased to report the discovery of a new 4km-long high-tenor copper (+molybdenum & arsenic) anomaly at the Lando prospect.

The Lando prospect is located approximately 18km due N of the Sceptre copper-gold anomaly, and was identified as an area of interest from initial soil sampling completed in the area by Randgold in the 1990’s.

Sample soil

The Lando anomaly is a 4km long, >99ppm (80th percentile) copper (“Cu”) anomaly with a 1km >387ppm Cu core (98th percentile). The Lando copper anomaly, defined through pXRF analyses, is also associated with elevated values of both molybdenum and arsenic. These latest results are indicative of a third significant copper footprint at Odienne with similarities to both the Sceptre and Charger targets in the south of the permit area.

Legacy soils from a small 600x600m soil grid completed by Randgold in the area returned up to 350ppb gold – old trenches (with no data) have been located at Lando and the soil grid is thought to cover the same locality. Approximately 836 samples covering this pXRF anomaly have been sent for 52 element ICP and gold analysis and results are expected in 4 to 6 weeks.

Furthermore, the company has now collected around 75% of a planned c.2800 sample soil and termitaria program along the ‘BBM’ prospect to the east and southeast of Lando. The BBM prospect covers some 17 strike kilometers along the interpreted belt-basin margin between deep water sedimentary rocks to the east and northeast and a volcanic/volcaniclastic series to the west – a typical setting for gold mineralization in west Africa. Initial pXRF* results for this program are anticipated to be available by the end of Q3.

Planned exploration for the remainder of the 2nd half of 2022 will include ground geophysics – consisting of targeted IP surveys (gradient array and pole dipole sections) at both Charger and Sceptre. This will be accompanied by targeted pitting and/or trenching. These surveys will commence as soon as the monsoon season abates in late September 2022. If warranted, these surveys will be followed with scout drilling in Q4. All pitting or trenching samples will be submitted for Gold and multielement analysis.

At the BBM prospect collection of soil and Termitaria samples is ongoing. Results expected in c. 2 months. However, in the interim all samples are being analyzed by pXRF and will be reported in the ensuing weeks.

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