EXPLORATION & DEVELOPMENT

More high grade WAF gold

EMERGING gold junior West African Resources has again had strong drill success at its Tanlouka project in Burkina Faso.

Michael Quinn
More high grade WAF gold

At the M1 prospect the junior hit 1m at 1107 grams per tonne gold from 107m depth and 3m at 146gpt from 125m within a broader interval put at 18m at 82.3gpt from 98m.

West African Resources (WAF) made the point that geological indicators suggest the likelihood of gold mineralisation persisting at depth.

A maiden resource estimate for M1 is expected during the current quarter (as is one for another prospect M3), while an updated resource for the M5 deposit has also been flagged.

A feasibility study is investigating a conventional CIL mine development incorporating the combination of high grade M1 mineralisation with the predominantly oxide mineralisation from M5.

Prior to the emergence of M1 in the second half of 2015, WAF had been looking at developing a heap leach operation.

Shares in WAF closed Friday unchanged at A22c, capitalising the company at $90 million.

The junior recently raised $12.5 million by issuing new shares 12.5c, with the stock at 5c at the end of March.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.