High grades again for WAF

WEST African Resources continues to hit high grade gold at its M1 South deposit in Burkina Faso and says recent work has further demonstrated both lateral and depth potential.
High grades again for WAF High grades again for WAF High grades again for WAF High grades again for WAF High grades again for WAF

Michael Quinn

A headline hit of 13.5m grading 18.21 grams per tonne gold from 575m was reported, including 1m at 131.9gpt and 2.5m at 43.97gpt Au from 614m.

Follow up drilling is underway 50m along strike.

The ASX and Canadian listed company said it “appears mineralisation below … 400m (depth) is either offset to the northwest by late faulting, or the plunge of mineralisation is shallowing”.

Drilling is continuing with four rigs double shifting, and the focus being on both infill and extensional work.

Last month West African reported M1 South had resources of 1.6Mt at 14.4gpt for 745,000 ounce, with 75% in the indicated category.

M1 South is the high grade component of the Sanbrado project, where an updated bankable feasibility study is due next year.

A resource update is pegged for the first quarter.

West African currently has about $23 million cash.

Share in the company were up 5% to 42c in afternoon trade, capitalising West African at $243 million.

The stock hit a 12 month high last month when it spiked to 44c.