West African Resources expects inferred grade increase

SUCCESSFUL high grade gold explorer West African Resources expects to report an increased grade of inferred resources being drilled out at the game-changing M1 South deposit of the Sanbrado gold project in Burkina Faso.

Michael Quinn

“Given the grade and tenor of recent (infill drilling) results, it is expected that inferred resources will be upgraded in terms of both category and grade,” West African Resources said.

The recent hits included 10m grading 54.2 grams per tonne from 499m.

Inferred underground resources at M1 South have previously been reported as totalling 350,000 tonnes grading 16.1gpt for 180,000 ounces.

That compares with indicated underground resources of 470,000t at 26.4gpt for 395,000oz.

West African Resources is working on completing an undated feasibility study for Sanbrado by mid-year comprising both open cut and underground mining.

The company has about A$20 million cash.

Shares in West African Resources were off 1% to 43.5c in early trade, capitalising the company at $252 million.

The stock was at levels around 26c 12 months ago and 6c 24 months ago.