http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Fri, 20 Jul 2018 22:35:23 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - West African Resources confirms Sanbrado as a robust gold project ]]> http://www.proactiveinvestors.com.au/companies/news/199357/west-african-resources-confirms-sanbrado-as-a-robust-gold-project-199357.html West African Resources Ltd (ASX:WAF) has confirmed that the Sanbrado Gold Project in Burkina Faso is a robust high-margin gold project capable of producing more than 200,000 ounces annually.

An updated feasibility study envisages an initial 11-year mine life including 4.5 years of underground mining, with average annual production of 211,000 ounces over the first five years.

Strong early cashflow

The study, which is based on a gold price of US$1,300 per ounce, outlines strong early cashflow and rapid payback of capital.

Managing director Richard Hyde said: “The updated feasibility study confirms that Sanbrado is robust, generating an after-tax IRR of 49% and paying back capital in less than 16 months.”

He said that the AISC put forward for the initial five years of mine life was US$551 per ounce.

Updated ore reserves

The study has updated ore reserves with the probable reserve up 76% to 20.4 million tonnes at 2.4 g/t gold for 1.574 million ounces.

Sanbrado is expected to comprise several open pits within 1-2 kilometres of the plant site and an underground mine accessed through a portal at the southeast end of the M1 South open pit.

Sanbrado Gold Project resources and site layout.

The plant will comprise a conventional SABC milling circuit, gravity and carbon in leach processing with a nominal annual throughput capacity of 2 million tonnes.

Scope to further improve value

Hyde said: “Recent intercepts including 11 metres at 10.5 g/t gold and 6 metres at 24.4 g/t, 70 metres beneath current resources and reserves, provide scope to improve project value further.

“A scoping study has also commenced focusing on the underground potential of M5.

“Drilling at M1 South and M5 is ongoing, with further resource and reserve updates expected by year-end.

“Discussions with project financiers are underway and the company expects to be in a position to appoint a banking syndicate by quarter four of 2018.”

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Fri, 22 Jun 2018 09:19:00 +1000 http://www.proactiveinvestors.com.au/companies/news/199357/west-african-resources-confirms-sanbrado-as-a-robust-gold-project-199357.html
<![CDATA[News - West African Resources high-grade gold results augur well for funded feasibility study ]]> http://www.proactiveinvestors.com.au/companies/news/189915/west-african-resources-high-grade-gold-results-augur-well-for-funded-feasibility-study-189915.html West African Resources Ltd's (ASX:WAF) intercepts of two zones of high-grade mineralisation at its M1 South deposit, part of the Sanbrado Gold Project in Burkina Faso could have a positive impact on its updated feasibility study.

Two zones of high-grade mineralisation were intercepted, including 3.5 metres at 30.46 g/t gold from 469 metres and 10 metres at 54.2 g/t gold from 499 metres.

The results will contribute to an upgrade of the existing Inferred Resources in terms of both category and grade.

West African cashed up to complete full works program

West African's primary aim at M1 South is to upgrade inferred material to the indicated category.

The updated feasibility study incorporating open pit and underground mine schedules will be released in mid-2018, a possible share price catalyst.

All of the work that needs to be completed to progress to this stage can be funded from the company’s existing cash of circa $20 million.

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Fri, 12 Jan 2018 10:44:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189915/west-african-resources-high-grade-gold-results-augur-well-for-funded-feasibility-study-189915.html
<![CDATA[News - West African Resources drills more high-grade gold in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/183500/west-african-resources-drills-more-high-grade-gold-in-burkina-faso-183500.html West African Resources Ltd (ASX:WAF, CVE:WAF) has received further high-grade drilling results from its Sanbrado Gold Project in Burkina Faso, including 1 metre at 116 g/t gold.

Significant results from the M5 prospect includes:

- 8 metres at 17.5 g/t gold from 452 metres, including 1 metre at 116 g/t gold and 1 metre at 17.4 g/t gold; and
- 7 metres at 1.91 g/t gold from 273 metres and 6 metres at 2.17 g/t gold from 323 metres.

West African has six rigs on site and is well-funded to complete its proposed work programs, with $28.5 million in cash.

A new drilling program has been designed to take mineralisation to more than 500 vertical metres down dip on the southern shoot at M1 South.

A definitive feasibility study for the Sanbrado has confirmed it as a robust project with strong early cashflow, rapid payback of capital and the expected production of 150,000 ounces of gold per year.

The company’s shares were last trading at $0.35, rising circa 59% during the last six months.

West African remains on track to deliver a resource update in Q3 2017 and an updated feasibility study in mid-2018.

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Wed, 06 Sep 2017 14:21:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183500/west-african-resources-drills-more-high-grade-gold-in-burkina-faso-183500.html
<![CDATA[News - West African Resources continues to hit high-grade gold in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/181186/west-african-resources-continues-to-hit-high-grade-gold-in-burkina-faso-181186.html West African Resources (ASX:WAF, CVE:WAF) has received further high-grade drilling results from its Sanbrado Gold Project in Burkina Faso including 0.5 metres at 280.3 g/t gold.

High-grade results from depth at M1 South includes:

- 2.5 metres at 58.9 g/t gold from 254 metres, including 0.5 metres at 280.3 g/t gold from 256 metres; and
- 2.5m at 24.4 g/t gold from 162 metres, including 0.5 metres at 64.9 g/t gold from 163.5 metres.

Significant results from M5 includes:

- 36.5 metres at 2.5 g/t gold from 320 metres, including 0.5 metres at 49.5 g/t gold; and
- 37 metres at 2.4 g/t gold from 298.5 metres, including 1.5 metres at 18.1 g/t gold.

Six drill rigs are currently on-site double shifting, infilling and extending the mineralised zone.

A new drilling program has been designed to take mineralisation to more than 500 vertical metres down dip on the southern shoot at M1 South.

There are less than three holes to complete in the current drilling program for the Q3 resource update and then the deep drilling program will commence.

Additional drilling will be planned once all results are received for the current program.

Importantly, West African is well funded to complete all work programs for 2017.

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Thu, 20 Jul 2017 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181186/west-african-resources-continues-to-hit-high-grade-gold-in-burkina-faso-181186.html
<![CDATA[News - West African Resources shares rise on high-grade gold hits at Sanbrado ]]> http://www.proactiveinvestors.com.au/companies/news/178907/west-african-resources-shares-rise-on-high-grade-gold-hits-at-sanbrado-178907.html West African Resources’ (ASX:WAF, CVE:WAF) shares were trading 12% higher intra-day after intersecting high-grade gold from drilling at its Sanbrado Gold Project in Burkina Faso.

The drilling at the M1 deposit returned 21 metres at 53 g/t gold from 409 metres including 0.5 metres at 1,613 g/t gold and 0.5 metres at 530 g/t gold.

Five out of six diamond holes have hit extremely high grades over significant widths which will add to the resource base and have a material impact on project economics.

West African’s February 2017 open-pit feasibility study demonstrated robust economics, rapid payback of capital and simple metallurgy for the Sanbrado Gold Project.

However, it did not reflect the full potential of the project, as demonstrated by the results of drilling completed since the open-pit feasibility study was released.

The current drilling program has defined mineralisation outside the M1 South pit, which was the basis of the open-pit feasibility study, and may result in a material increase in the mine life.

West African has now decided to focus on resource and extensional drilling for the remainder of 2017, and will revisit development scenarios in the first half of 2018.

The company is expected to complete a resource update in Q3 2017.

West African has six rigs on site and is well-funded to complete its proposed work programs, with $14 million cash and over $7.5 million ‘in-the-money’ options.

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Wed, 07 Jun 2017 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178907/west-african-resources-shares-rise-on-high-grade-gold-hits-at-sanbrado-178907.html
<![CDATA[News - West African Resources drilling reveals higher gold potential ]]> http://www.proactiveinvestors.com.au/companies/news/175177/west-african-resources-drilling-reveals-higher-gold-potential-175177.html West African Resources (ASX:WAF, CVE:WAF) has received high-grade gold results from a drilling program at the M5 prospect at its Sanbrado Gold Project in Burkina Faso.

Drill testing the south-western end of M5 returned thick zones of higher grade gold mineralisation beneath the existing reserve pit shells, including:

- 29 metres at 4.96 g/t gold from 128 metres, including 9 metres at 10.6 g/t gold; and ¬
- 15 metres at 5.03 g/t gold from 256 metres, including 2 metres at 27.3 g/t gold.

Significant diamond drilling results have also been received beneath the north-eastern end of the M5 deposit.

The recent drilling results are generally higher grade than the previous oxide drilling and higher than the corresponding resource block grades.

Importantly, mineralisation is open at depth and given the improved grades, warrants follow-up drilling.

The latest results will be included in the upcoming resource and reserve update scheduled for Q3 2017, feeding into the optimised definite feasibility study due for completion in Q3 2017.

West African is continuing to drill using two rigs at M1 South and two rigs at M5.

The company is well funded with a cash balance of circa $18.5 million as at 31 December 2016.

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Wed, 22 Mar 2017 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175177/west-african-resources-drilling-reveals-higher-gold-potential-175177.html
<![CDATA[News - West African Resources Ltd to raise funds after positive re-rating ]]> http://www.proactiveinvestors.com.au/companies/news/165311/west-african-resources-ltd-to-raise-funds-after-positive-re-rating-70316.html West African Resources Ltd's (ASX:WAF) shares last traded at $0.32, or over five-times higher than where they were six-months ago.

The company has recently been delivering gold exploration success in Burkina Faso.

WAF is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Thursday 11th August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 09 Aug 2016 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165311/west-african-resources-ltd-to-raise-funds-after-positive-re-rating-70316.html
<![CDATA[News - West African Resources Ltd completes oversubscribed placement ]]> http://www.proactiveinvestors.com.au/companies/news/147279/west-african-resources-ltd-completes-oversubscribed-placement-69072.html West African Resources Ltd (ASX:WAF, TSXV:WAF) has completed its $12.5 million oversubscribed placement after receiving recent shareholder approval.

Funds will be used for an aggressive drilling programme targeting the recent high grade gold discovery at the M1 prospect within the Tanlouka Gold Project in Burkina Faso.

A maiden resource at M1 is looking to be established through activities including exploration drilling and resource definition drilling.

Reverse circulation drilling over 350 metres of strike at the M1 has delivered strong results, including 12 metres at 53.11 g/t gold, including 1 metre at 534.5 g/t gold.

A definitive feasibility study (DFS) has also commenced based on a larger-scale development scenario at the Tanlouka Gold Project.

The $12.5 placement included a cornerstone investment of $4 million from a leading North American institutional precious metals investor.

The company is trading strongly, up 120% year to date, currently priced at circa $0.16 per share.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 07 Jun 2016 10:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147279/west-african-resources-ltd-completes-oversubscribed-placement-69072.html
<![CDATA[News - West African Resources Ltd trousers $12.5M from oversubscribed placement ]]> http://www.proactiveinvestors.com.au/companies/news/147278/west-african-resources-ltd-trousers-125m-from-oversubscribed-placement-68098.html West African Resources Ltd (ASX:WAF, TSXV:WAF) will use funds from an oversubscribed $12.5 million share placement to aggressively pursue gold drilling at the Tanlouka Gold Project in Burkina Faso.

The company is placing 100 million shares at $0.125 each to international and domestic institutional and sophisticated investors to raise $12.5 million.

The $12.5 million commitment includes a cornerstone investment of $4 million from a leading North American institutional precious metals investor.

The funds raised will be applied towards an aggressive drilling program at the recent high-grade gold discovery at the M1 prospect within the company’s Tanlouka Gold Project in Burkina Faso.

Reverse circulation drilling over 300 metres of strike at the M1 delivered strong results, including 20 metres at 5.8 g/t gold from 68 metres depth, including 1 metre at 96.3g/t gold.

Another drill-hole returned 12 metres at 5g/t gold from 104 metres depth, including 6 metres at 8.2g/t gold.

The new activities at the M1 prospect will include exploration drilling as well as resource definition drilling to establish a maiden resource.

In parallel with the drilling program which is planned to continue throughout 2016, the company will undertake a Definitive Feasibility Study at the Tanlouka Gold Project.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 15 Apr 2016 16:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147278/west-african-resources-ltd-trousers-125m-from-oversubscribed-placement-68098.html
<![CDATA[News - West African Resources Ltd gets ready to raise after shares triple ]]> http://www.proactiveinvestors.com.au/companies/news/147277/west-african-resources-ltd-gets-ready-to-raise-after-shares-triple-68047.html West African Resources Ltd (ASX:WAF) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

Shares in the company have tripled in the last six weeks after hitting some broad gold zones at its wholly-owned Tanlouka Gold Project in Burkina Faso.

The halt will remain in place until the opening of trade on Friday 15th April 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 13 Apr 2016 16:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147277/west-african-resources-ltd-gets-ready-to-raise-after-shares-triple-68047.html
<![CDATA[News - West African Resources to raise cash after high-grade gold hits ]]> http://www.proactiveinvestors.com.au/companies/news/147276/west-african-resources-to-raise-cash-after-high-grade-gold-hits-66093.html West African Resources (ASX:WAF) has recently been delivering some impressive drilling intersections from the wholly-owned Tanlouka Gold Project, which is located in Burkina Faso.

Such as: 14 metres at 4.5g/t gold, including 3 metres at 16.2g/t gold from 36 metres.

This gives the potential to add to the existing heap leach Ore Reserve of 440,000 gold ounces.

The next step for the company is going to market with a capital raising, and the ASX has granted a trading halt to complete.

The halt will last until the opening of trade on Monday 14th December 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 10 Dec 2015 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147276/west-african-resources-to-raise-cash-after-high-grade-gold-hits-66093.html
<![CDATA[News - West African Resources hits high-grade gold in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147275/west-african-resources-hits-high-grade-gold-in-burkina-faso-66003.html West African Resources (ASX, TSX-V:WAF) has improved its potential to enhance the economics of its Tanlouka gold project in Burkina Faso, with new drilling extending high-grade mineralisation down-dip in an area which could add significant ounces to the inventory.

The most recent diamond core hole at the project’s Mankarga 1 (M1) prospect returned 14 metres at 4.5 g/t gold, including 3 metres at 16.2 g/t gold from 36 metres.

None of the mineralisation at M1 is currently in the project inventory, although the prospect is only 2 kilometres from Tanlouka’s proposed Mankarga 5 (M5) starter pit, where initial production is planned at a rate of 70,000 ounces of gold per annum at a cash cost of $428 per ounce.

As such, development of M1 is expected to improve Tanlouka economics if additional gold holdings can be factored into new modelling and mine planning at the site.

M1 mineralisation will be modelled and incorporated in a resource to be released in Q1 2016.

It is expected that oxide mineralisation from M1 will exhibit similar metallurgical characteristics to M5 oxides, and will be amenable to heap leach processing.

Follow-up diamond core drilling is in progress and reverse circulation drilling has been planned in the area.

Recent shallow reverse circulation drilling at M1 has returned 8 metres at 1.45 g/t gold from 25 metres, 10 metres at 1.04 g/t gold from surface and 8.6 metres at 1.84 g/t gold from 9 metres.

A smaller 3-metre intersection at the prospect also recorded 21.54 g/t gold from 10 meters.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 04 Dec 2015 16:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147275/west-african-resources-hits-high-grade-gold-in-burkina-faso-66003.html
<![CDATA[News - West African Resources extends strike at Burkina Faso gold project ]]> http://www.proactiveinvestors.com.au/companies/news/147274/west-african-resources-extends-strike-at-burkina-faso-gold-project-62981.html West African Resources (ASX:WAF) has extended the strike length of the Mankarga 5 trend by 1.5 kilometres through auger drilling from the proposed open pit at the Tanlouka Permit in Burkina Faso.

Drilling intersect up to 0.63 grams per tonne gold, revealing a gold anomaly over this previously untested zone that has similar grades and tenor to auger results over the existing Mankarga 5 resource area.

Results along strike of the M5 resource demonstrate that there is significant potential to add more oxide tonnes to the heap leach starter project and extend the current Pre-Feasibility Study mine life of 7 years.

The company has also completed infill auger drilling at the Mankarga 1 prospect located approximately 500 metres northwest of the Mankarga 5.
 
Mankarga 1 has significant potential to add additional oxide tonnes to the proposed heap leach starter project.

A contract reverse circulation rig will be used to test the area once auger drilling results are received.

Mankarga 5 has an Ore Reserve of 11.2 million tonnes at 1.22 grams per tonne, or 440,000 ounces of gold.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 17 Jun 2015 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147274/west-african-resources-extends-strike-at-burkina-faso-gold-project-62981.html
<![CDATA[News - West African Resources aims for 2015 gold production from Bousla project; buys heap leach plant ]]> http://www.proactiveinvestors.com.au/companies/news/147273/west-african-resources-aims-for-2015-gold-production-from-bousla-project-buys-heap-leach-plant-53005.html West African Resources (ASX, TSXV:WAF) has bought a second- hand heap leach plant for the Bousla Project in Burkina Faso with the aim of producing gold from its Mankarga 5 gold deposit in 2015.

The plant, with an expected throughput capacity of 1.6 million tonnes per annum, was acquired substantially below replacement costs with the plant package including primary and secondary crushers, agglomerator, conveyor and radial stacker.

Subject to study outcomes, the company believes the heap leach plant could help fast-track the recently acquired Mankarga 5 deposit into production, processing 1.6 Mtpa to achieve initial production of at least 50,000 ounces of gold per annum,

A resource upgrade for Mankarga 5 is likely by end of this quarter and completion of a preliminary economic assessment and scoping study expected in the first half of this year.

The Boulsa Project in Burkina Faso covers over 6,000 square kilometres and 200 kilometres of strike length of early Proterozoic Birimian green-stone belts which are highly prospective for gold mineralisation.

In January 2014 West African Resources acquired Channel Resources, which owned the Tanlouka Permit hosting the Mankarga 5 deposit.

It also recently reaffirmed gold grades at the Mankarga 5 deposit intersecting up to 15 metres at 4.69g/t gold from 17 metres; including 7m at 9.15g/t gold ending in mineralisation.

With a targeted gold production from Mankarga 5 in 2015, West African Resources is likely to make a low risk transition from explorer to producer.


Proactive Investors Australia is the market leader in producing news,articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 20 Feb 2014 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147273/west-african-resources-aims-for-2015-gold-production-from-bousla-project-buys-heap-leach-plant-53005.html
<![CDATA[News - West African Resources strikes gold at Boulsa, Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147272/west-african-resources-strikes-gold-at-boulsa-burkina-faso-52612.html West African Resources (ASX: WAF, TSXV: WAF) has hit 16 metres at 2.58 grams per tonne gold from 30 metres in first gold results from drilling at its 90%-owned Mankarga 5 Deposit, within the Boulsa project in Burkina Faso.

The intersection included 7 metres at 4.54 grams per tonne gold, and notably, ended in mineralisation.

Results confirm continuity of strong mineralisation from depth into the oxide zone at Mankarga 5, and validates WAF's decision to acquire the deposit as a low-cost, heap-leach development target.

Several other assays above 1 gram per tonne from the 7500 metre program have also been received, which complement historic results such as 16 metres at 1.89 grams per tonne from 54 metres.

In January, WAF finalised the acquisition of neighbouring gold explorer Channel Resources' (TSX.V: CHU) Tanlouka project, which included Mankarga 5, and is now part of WAF's Boulsa project.

WAF’s programs have been tailored to improve the oxide and transitional components of the deposit and better define the orientation of high-grade mineralisation in deeper drilling.

Deep diamond drilling is nearing completion on the SW800 prospect, targeting high-grade mineralisation down-dip from a previous intersection of 9 metres at 9.04 grams per tonne 24 metres at 3.23 grams per tonne from 120.5 metres.

Further assays will be released as they become available, following which a resource upgrade is expected by the end of the quarter.

Scoping studies will be completed in the first half of 2014, with the objective of short term cash-flow from the expanded base of near surface gold assets.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 07 Feb 2014 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147272/west-african-resources-strikes-gold-at-boulsa-burkina-faso-52612.html
<![CDATA[News - West African Resources wraps up acquisition of Channel Resources, Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147271/west-african-resources-wraps-up-acquisition-of-channel-resources-burkina-faso-52024.html West African Resources (ASX: WAF) should trade slightly firmer after completing its previously announced acquisition of neighbouring gold explorer Channel Resources (TSX.V: CHU) in Burkina Faso.

West African has issued 32,036,754 shares, 14,918,508 three year warrants exercisable at $0.40, and 1,365,000 replacement options to former Channel shareholders.

West African shares and warrants will commence trading on the TSX Venture Exchange this week, which will have the added benefit of increasing exposure and potential funding options for the company.

Channel's Tanlouka project lies adjacent to West African's existing Boulsa project and has a known gold resource of 1 million ounces at 1 gram per tonne.
 
The company will commence work at Tanlouka with drilling to focus on improving the oxide components of the resource, while also targeting higher grade mineralisation at depth with diamond drilling.

These activities should lead to a resource upgrade by the end of the first quarter of 2014.

Scoping studies will be completed in the first half of 2014 in order to create a low-cost heap leach starter project, with the objective of short term cash-flow from the expanded base of near surface gold assets.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 20 Jan 2014 14:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147271/west-african-resources-wraps-up-acquisition-of-channel-resources-burkina-faso-52024.html
<![CDATA[News - West African Resources to start drilling at Burkina Faso gold project ]]> http://www.proactiveinvestors.com.au/companies/news/147270/west-african-resources-to-start-drilling-at-burkina-faso-gold-project-50329.html West African Resources (ASX: WAF) plans to immediately begin aircore and diamond drilling at the Tanlouka gold property in Burkina Faso once it completes the acquisition of Channel Resources (TSX.V: CHU).

Channel’s shareholders are expected to approve the acquisition on 6 December 2013.

The main priority will be to test the near-term production potential of oxide gold mineralisation on the consolidated project as soon as possible, with the primary target being Tanlouka’s Mankarga 5 structure where resources have been outlined.

Other potential oxide gold targets include the Moktedu structure and the South Sartenga target at the southern part of West African’s Boulsa project. The objective will be to generate resource estimates and project updates in early 2014.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 19 Nov 2013 16:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147270/west-african-resources-to-start-drilling-at-burkina-faso-gold-project-50329.html
<![CDATA[News - West Africa Resources hits broad copper-gold at Sartenga, Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147269/west-africa-resources-hits-broad-copper-gold-at-sartenga-burkina-faso-49444.html West African Resources (ASX: WAF) has intersected broad copper-gold mineralisation from diamond drilling at its Sartenga copper-gold discovery, part of the Boulsa project in Burkina Faso.

Several broad intersections were assayed, including a 231 metre hit at 0.6% copper equivalent with 21 metres at 1.1% copper equivalent.

Diamond drilling with two company-owned rigs is continuing at Sartenga, focusing on defining higher grade breccia zones along the south-eastern margin of the deposit.

Further assay results are imminent, and a grade and tonnage resource upgrade is expected prior to year' end.

In addition, aircore drilling has commenced at the Moktedu Prospect, with first results expected by mid-November.

West Africa also notes that the transaction with Channel Resources announced on the 14th of August is progressing on schedule, with completion of the merger expected by the end of November.

Channel is the owner of the Tanlouka gold project immediately adjacent to West African’s Moktedu prospect, within the Boulsa project. Resource definition drilling will commence here upon completion of the acquisition.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 24 Oct 2013 14:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147269/west-africa-resources-hits-broad-copper-gold-at-sartenga-burkina-faso-49444.html
<![CDATA[News - West African Minerals raises $3M, to fast track heap-leach starter project ]]> http://www.proactiveinvestors.com.au/companies/news/147268/west-african-minerals-raises-3m-to-fast-track-heap-leach-starter-project-47058.html West African Resources (ASX:WAF) has completed step-out aircore drilling at Sartenga South, extending known gold mineralisation with intervals such as 20 metres at 2.5 grams per tonne, including 4 metres at 9 grams per tonne from 36 metres.

WAF has two drill rigs on site which will drill throughout the wet season, testing mineralised extensions along strike and at depth. Results for further deep diamond core drilling are imminent.

The Sartenga copper-gold discovery presently has a 174,000 tonne copper, 651,000 ounce gold Inferred Resource.

The new zone is open along strike and located 3.2 kilometres northeast from the previous intercept of: 26 metres at 1.1 grams per tonne from surface. It is located 4 kilometres south south-east of the main Sartenga Resource, and has potential to enhance early economics of the large scale copper-gold project.

West African has also completed a 10% placement, raising $3 million, by issue of 20 million ordinary shares at $0.15 to existing shareholders and sophisticated investors.

Funds raised will fast-track development of their new low capex gold heap leach project, accelerate resource definition drilling at its high-grade Moktedu Project, and on the adjacent 1 million ounce gold Tanlouka Project following completion of the acquisition of TSX-listed Channel Resources.

 

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Thu, 22 Aug 2013 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147268/west-african-minerals-raises-3m-to-fast-track-heap-leach-starter-project-47058.html
<![CDATA[News - West African Resources to raise funds following Channel Resources acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/147267/west-african-resources-to-raise-funds-following-channel-resources-acquisition-46918.html West African Resources (ASX: WAF) is heading to market with a capital raising, with the ASX granting the company a trading halt - with its shares placed in pre-open.

Last week WAF pounced on Channel Resources (TSX.V: CHU) in a takeover which will increase the company's gold and copper exposure in Burkina Faso.

The outcome is that WAF has consolidated neighbouring near surface high-grade gold targets at WAF’s Moktedu and CHU’s Tanlouka Project (1Moz at 1g/t, including 0.54Moz at 1.6g/t, Initial Inferred and Indicated Resources – NI 43-101).

There is the potential for near term production from the consolidation of oxide gold targets, using a low capex heap-leach process.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 22nd August 2013.

 

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Tue, 20 Aug 2013 08:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147267/west-african-resources-to-raise-funds-following-channel-resources-acquisition-46918.html
<![CDATA[News - West African Resources buys neighbour, boosts gold copper exposure in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147266/west-african-resources-buys-neighbour-boosts-gold-copper-exposure-in-burkina-faso-46727.html West African Resources (ASX: WAF) has pounced on Channel Resources (TSX.V: CHU) in a takeover which will increase the company's gold and copper exposure in Burkina Faso.

The transaction represents a 100% premium over Channel’s recent trading price (based on WAF's last closing share price of A$0.16) and has been unanimously approved by the board of directors of both companies.

The outcome is that WAF has consolidated neighbouring near surface high-grade gold targets at WAF’s Moktedu and CHU’s Tanlouka Project (1Moz at 1g/t, including 0.54Moz at 1.6g/t, Initial Inferred and Indicated Resources – NI 43-101).

There is the potential for near term production from the consolidation of oxide gold targets, using a low capex heap-leach process.

 

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Wed, 14 Aug 2013 17:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147266/west-african-resources-buys-neighbour-boosts-gold-copper-exposure-in-burkina-faso-46727.html
<![CDATA[News - West African Resources to reveal acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/147265/west-african-resources-to-reveal-acquisition-46137.html West African Resources (ASX: WAF) is preparing to announce a corporate transaction involving an acquisition, with the ASX granting the company additional time in the form of a trading halt. WAF shares are now in pre-open.

WAF is currently focused on the Boulsa Project in Burkina Faso, which covers an extensive 6,370 square kilometres, including 200 kilometres of strike length of early Proterozoic Birimian greenstone belts.

These belts are highly prospective for gold mineralisation.

WAF is targeting copper-gold, and helping exploration is the fact that the company owns and operates a fleet of six drill rigs that are working continuously on Boulsa.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 1st August 2013.

 

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Tue, 30 Jul 2013 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147265/west-african-resources-to-reveal-acquisition-46137.html
<![CDATA[News - West African Resources defines maiden resource at Burkina Faso copper-gold and molybdenum project ]]> http://www.proactiveinvestors.com.au/companies/news/147264/west-african-resources-defines-maiden-resource-at-burkina-faso-copper-gold-and-molybdenum-project-44927.html West African Resources (ASX: WAF) has penned in a maiden Inferred Resource of 70 million tonnes at 0.2% copper, 0.3 grams per tonne gold, 166g/t molybdenum and 1.1g/t silver at its wholly-owned Sartenga deposit in Burkina Faso.

The contained resource of 174,000 tonnes of copper, 651,000 ounces of gold, 11,000 tonnes of molybdenum and 2.5 million ounces of silver comes just 12 months after discovery of the deposit.

This Resource also include 57Mt of transitional and primary material at 0.6% copper equivalent for some 316,000 tonnes of copper equivalent metal.

Drilling is ongoing at Sartenga, which is within the Boulsa Project, with two company-owned diamond rigs targeting a major resource upgrade in both tonnes and JORC category by year end.

This is focused on the higher grade mineralisation in the core of the deposit as well as targeting extensions at depth.

Sartenga has an initial Exploration Target of 170Mt to 250Mt at 0.5% to 0.9% copper equivalent.

West African had previously demonstrated that Sartenga ore is amenable to low-energy coarse grinding and conventional flotation recovery methods.

The Boulsa Project covers 6,370 square kilometres and 200 kilometres of strike length of early Proterozoic Birimian greenstone belts which are prospective for gold mineralisation.

The project is located immediately along strike from Orezone Gold Corp’s (TSE: ORE) 5.2 million gold ounce Bomboré Deposit.

 

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Thu, 27 Jun 2013 12:50:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147264/west-african-resources-defines-maiden-resource-at-burkina-faso-copper-gold-and-molybdenum-project-44927.html
<![CDATA[News - West African Resources hits new copper-gold and molybdenum zones in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147263/west-african-resources-hits-new-copper-gold-and-molybdenum-zones-in-burkina-faso-44659.html West African Resources (ASX: WAF) has intersected new thick zones of copper-gold and molybdenum mineralisation at the wholly-owned Sartenga copper-gold discovery - which is within the Boulsa Project in Burkina Faso.

Results are from diamond, reverse circulation and air-core drilling, with the latest highlights including:

- 13 metres at 1.1% Cueq within 20 metres at 0.8% Cueq;
- 10 metres at 1.3% Cueq and 69 metres at 0.6% Cueq, within 116 metres at 0.5% Cueq; and
- 10 metres at 0.7% Cueq and 27 metres at 0.6% Cueq, within 71 metres at 0.5% Cueq.

West African Resources currently has two diamond drill rigs turning on site, testing mineralisation between 200 metres and 400 metres depth across 500 metres to 800 metres width beneath strong oxide mineralisation over 1,200 metres of strike on 200 metre spaced sections.

The Boulsa Project covers 6,370 square kilometres and 200 kilometres of strike length of early Proterozoic Birimian greenstone belts which are prospective for gold mineralisation.

The project is located immediately along strike from Orezone Gold Corp’s (TSE: ORE) 5.2 million gold ounce Bomboré Deposit.

 

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Thu, 20 Jun 2013 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147263/west-african-resources-hits-new-copper-gold-and-molybdenum-zones-in-burkina-faso-44659.html
<![CDATA[News - West African Resources' metallurgical results confirm copper/gold potential at Burkina Faso project ]]> http://www.proactiveinvestors.com.au/companies/news/147262/west-african-resources-metallurgical-results-confirm-coppergold-potential-at-burkina-faso-project-43360.html West African Resources (ASX:WAF) has returned positive metallurgical results for its Sartenga copper/gold discovery in Burkina Faso with initial test work indicating that the mineralisation is amenable to treatment via conventional grinding and flotation methods.

Mineralogical studies on drill core samples from Sartenga discovery at the Boulsa project show that the dominant sulphide mineral in the primary material is bornite that represents more than 95% of copper metal in the samples studied followed by Molybdenite.

Free gold was also found and mostly located along sulphide mineral boundaries.

Since bornite has a higher copper content compared to other sulphide copper minerals, Sartenga has potential to produce a high-grade copper-gold concentrate.
 
Preliminary bottle roll cyanide leach test work indicated recoveries for gold of greater than 90% for all ore types, while preliminary acid leach tests indicated recoveries of copper of greater than 90% for transitional mineralisation.

Flotation test work is now underway on primary ore types with the aim of creating a high-grade copper-gold and molybdenum sulphide concentrate.

Deep drilling for potential mineralised extensions and shallow drilling targeting high grade extensions is ongoing at Sartenga.

The company also awaiting results for further deep diamond core and will be reporting a maiden resource for Sartenga in June 2013.

The Boulsa Project in Burkina Faso covers 6,370 square kilometres and 200 kilometres of strike length of early Proterozoic Birimian greenstone belts which are highly prospective for gold mineralisation.

Significant results have already been returned from the project, which is located immediately along strike from Orezone Gold Corp’s 5.2 million ounce gold Bombore Deposit.


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Thu, 16 May 2013 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147262/west-african-resources-metallurgical-results-confirm-coppergold-potential-at-burkina-faso-project-43360.html
<![CDATA[News - West African Resources hits high grade zones at Sartenga copper-gold project ]]> http://www.proactiveinvestors.com.au/companies/news/147261/-west-african-resources-hits-high-grade-zones-at-sartenga-copper-gold-project-40669.html West African Resources (ASX:WAF) has intercepted high grade zones at its Sartenga copper-gold discovery in Burkina Faso, with assays returning upto 33 metres at 0.9% copper equivalent from 73 metres.

Primary intercepts also included 10 metres at 0.9% Cueq from 123 metres including 7 metres at 1% Cueq from 123 metres within 88 metres at 0.6% Cueq from 58 metres.

Oxide intercepts from the drillhole include 30 metres at 0.4 grams per tonne gold and 0.1% copper from 19 metres including 6 metres at 0.9g/t gold and 0.2% copper from 19 metres.

The latest diamond and aircore results from the Boulsa project, which intercepted thick zones of higher grade primary mineralisation via step out drilling, could add substantial tonnes at higher grades to the maiden resource to be reported in June 2013.

Results in the drillhole confirm higher grade primary copper-gold-molybdenum mineralisation over at least 300 metres strike in the central portion of the Sartenga prospect.

The company currently has four drill rigs on site, testing mineralisation between 200 metres and 400 metres depth across 500 metres to 800 metres width beneath strong oxide mineralisation over 1200 metres of strike on 200 metres spaced sections.

The Boulsa Project in Burkina Faso covers 6,370 square kilometres and 200 kilometres of strike length of early Proterozoic Birimian greenstone belts which are highly prospective for gold mineralisation.

Significant results have already been returned from the project, which is located immediately along strike from Orezone Gold Corp’s (TSX:ORE) 5.2 million ounce Au Bomboré Deposit.

West African has made a major Au-Cu-Mo discovery at the Sartenga Discovery in 2012.

The company had a cash balance  of just over $5 million at the end of last quarter


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Tue, 12 Mar 2013 09:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147261/-west-african-resources-hits-high-grade-zones-at-sartenga-copper-gold-project-40669.html
<![CDATA[News - West African Resources extends strike length at Sartenga copper-gold discovery ]]> http://www.proactiveinvestors.com.au/companies/news/147260/west-african-resources-extends-strike-length-at-sartenga-copper-gold-discovery-38349.html West African Resources (ASX: WAF) has extended the Sartenga discovery strike length to over 2.5 kilometres, which is part of the Boulsa Project in Burkina Faso.

Boulsa covers 6,370 square kilometres and 200 kilometres of strike length of early Proterozoic Birimian greenstone belts which are highly prospective for gold mineralisation.

Highlighting the strategic location of the project, it is located immediately along strike from Orezone Gold Corp’s 5.2 million ounce gold Bomboré Deposit.


Extending the Sartenga strike

The latest oxide results confirm the strike at over 2.5 kilometres in shallow aircore drilling, while SDH015 on Section 7 confirms primary sulphide mineralisation is more than 150 metres wide on Section 7.

Importantly for the potential to further extend, mineralisation is still open along and across strike, and at depth.

West African Resources now plan to accelerate the resource drill-out with additional contract reverse circulation and deep diamond drilling in combination with the company-owned drill fleet already working at Sartenga


Diamond Core Hole: SDH015 Section 7

- 28m at 0.6% copper equivalent from 152m (1.1g/t Au eq, 0.3g/t Au, 0.2% Cu, 313g/t Mo);
- and 17m at 0.7% copper equivalent from 210m (1.2g/t Au eq, 0.3g/t Au, 0.2% Cu, 480g/t Mo);
- within 183m at 0.4 % copper equivalent from 124m (0.7 g/t Au eq, 0.2g/t Au, 0.1% Cu, 230g/t Mo).


Shallow oxide aircore results including:

- 24m at 0.5 g/t Au, 0.1% Cu and 217g/t Mo from 4m (Section 1);
- 20m at 0.7 g/t Au, 0.3% Cu and from 4m (Section 2);
- 32m at 0.6g/t Au, 0.2% Cu and from 8m (Section 4).

 

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Thu, 17 Jan 2013 09:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147260/west-african-resources-extends-strike-length-at-sartenga-copper-gold-discovery-38349.html
<![CDATA[News - West African Resources to reveal exploration results ]]> http://www.proactiveinvestors.com.au/companies/news/147259/west-african-resources-to-reveal-exploration-results-37372.html West African Resources (ASX: WAF) has been placed in pre-open this morning pending exploration results.

West African has not yet provided any further information, but the company has been delivering a string of results this month from the wholly-owned Sartenga copper‐gold discovery, part of the Boulsa Project, Burkina Faso.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 19th December.

 

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Mon, 17 Dec 2012 09:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147259/west-african-resources-to-reveal-exploration-results-37372.html
<![CDATA[News - West African Resources extends Burkina Faso copper/gold mineralisation ]]> http://www.proactiveinvestors.com.au/companies/news/147258/west-african-resources-extends-burkina-faso-coppergold-mineralisation-36901.html West African Resources (ASX: WAF) has extended the shallow copper-gold mineralisation at its Sartenga Prospect in Burkina Faso through its latest drilling.

Aircore drilling has confirmed the mineralisation now extends more than 500 metres in width on Section 5 while a number of holes have ended in transitional mineralisation indicating the deeper drilling may deliver further zones of parallel primary mineralisation.

Significant results include a hole with assay of 63 metres at 0.4 grams per tonne (g/t) gold and 0.2% copper and 65g/t molybdenum from surface ending in 3 metres at 1.4g/t gold, 0.5% copper and 11g/t molybdenum.

In Section 8, which was also subject to drilling, mineralisation has been intersected over 350 metre width.

Results included a 25 metre intercept at 0.4 g/t gold and 0.4% copper from 36 metres including 5 metres at 1.1 g/t gold and 0.5% copper from 40 metres ending in mineralisation.

Further aircore assays are pending while results from diamond drilling are also expected shortly.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 05 Dec 2012 15:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147258/west-african-resources-extends-burkina-faso-coppergold-mineralisation-36901.html
<![CDATA[News - West African Resources’ drilling program returns highest gold grades to date at Boulsa Project ]]> http://www.proactiveinvestors.com.au/companies/news/147257/west-african-resources-drilling-program-returns-highest-gold-grades-to-date-at-boulsa-project-33307.html West African Resources (ASX: WAF) has announced positive drilling results following further significant gold-copper mineralisation at its fully owned Sartenga copper-gold discovery, part of the Boulsa Project in Burkina Faso.

The company's aggressive drilling campaign is fast tracking its maiden Burkina Faso resource for December 2012. West African Resources has $4 million in cash and is the largest ASX-listed landholder in Burkina Faso, West Africa.

The company's recent drilling results have returned the highest gold grades to date at the Sartenga gold-copper discovery, with grades of up to 6.9 grams per tonne (g/t) gold and 1.0% copper.

Drilling results from Section 11, to the northeast, have also confirmed shallow gold-copper mineralisation in oxide at Sartenga now extends more than 2 kilometres and over 250 metres in width. These are broadly supported by the following drilling results:

- 20 metres at 2.0g/t gold and 0.2% copper from 4 metres, including 4 metres at 6.9g/t gold and 0.3% copper;
 
- 60 metres at 0.5g/t gold and 0.2% copper from 4 metres; and

- 42 metres at 0.9g/t gold and 0.1% copper from 8 metres, which ended in mineralisation.

West African Resources’ deep drilling program will continue in September, targeting a high-grade  primary zone along the 2 kilometre strike. This will be followed by aircore drilling in October to fully test the 3 kilometre plus high tenor portion of the auger gold-in-saprolite anomaly which remains open to the west.



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Tue, 11 Sep 2012 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147257/west-african-resources-drilling-program-returns-highest-gold-grades-to-date-at-boulsa-project-33307.html
<![CDATA[News - West African Resources discovers copper, gold in Burkina Faso, targets maiden Resource in 2012 ]]> http://www.proactiveinvestors.com.au/companies/news/147256/west-african-resources-discovers-copper-gold-in-burkina-faso-targets-maiden-resource-in-2012-30293.html West African Resources (ASX: WAF) has made a major copper gold discovery at the company’s Sartenga Prospect in Burkina Faso, with recent drill results returning grades up to 4.78 grams per tonne (g/t) gold and 1.92% copper.

The company is making good progress on achieving its goal of taking Sartenga to resource status by the end of 2012.

Copper gold mineralisation has been intercepted in the third line of wide spaced aircore drilling at the prospect.

Diamond drilling has returned 72.8 metres at 1.08g/t gold and 0.48% copper from 6 metres, including 21 metres at 2.31g/t gold and 1.09% copper.

The discovery aircore hole intersected 57 metres at 0.88g/t gold and 0.44% copper, including 9 metres at 2.16g/t gold and 0.99% copper.

Importantly, both drill holes ended in mineralisation, with potential for continuity at depth.

A 15 hole, 1,998 metre reverse circulation drilling program has been completed to more than 170 metres depth on three sections over 800 metres strike, with assays pending.

Diamond drilling is continuing at Sartenga, while the aircore drilling program has been extended to 25,000 metres.

West African Resources is also carrying out drilling at the Moktedu and Meguet prospects, as well as on a number of regional prospects.

With A$4.5 million in cash reserves, the company is well funded to continue aggressive exploration to delineate a maiden JORC Resource at Sartenga.



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Wed, 20 Jun 2012 08:50:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147256/west-african-resources-discovers-copper-gold-in-burkina-faso-targets-maiden-resource-in-2012-30293.html
<![CDATA[News - West African Resources has exploration results pending; trading halt granted ]]> http://www.proactiveinvestors.com.au/companies/news/147255/west-african-resources-has-exploration-results-pending-trading-halt-granted-30154.html West African Resources (ASX: WAF) has some potentially very interesting news on the horizon, with today the ASX granting the company a trading halt pending the release of exploration results.

West African Resources has not yet elaborated any further of where the results are from, but the company has recently been conducting deep drilling at the Boulsa Gold Project in Burkina Faso.

The drilling is part of a 5000 metre reverse circulation program.

Worth noting - gold has already been discovered nearer the surface earlier in the year by the company, with results including some very impressive intersections such as; 6 metres at 8.36 grams per tonne (g/t) gold from surface, including 1 metre at 42.95g/t gold.

Currently, West African Resources is drilling more than 15,000 metres per month using company owned and operated rigs. Turnaround time for assays though in the region can be long.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 19th June.

 

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Fri, 15 Jun 2012 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147255/west-african-resources-has-exploration-results-pending-trading-halt-granted-30154.html
<![CDATA[News - West African Resources extends gold prospective Moktedu prospect to 10km in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147254/west-african-resources-extends-gold-prospective-moktedu-prospect-to-10km-in-burkina-faso-28382.html West African Resources (ASX: WAF) has identified a 3.2 kilometre extension to the Moktedu Prospect in Burkina Faso following the results of an auger drilling program.

The company is targeting a maiden JORC Resource on Moktedu in late 2012.

All results from drilling on three permits, Zam Sud, Sondo and Sondo Sud, within the company’s Boulsa Gold Project, have been received, with up to 0.93 grams per tonne (g/t) intercepted.

The total strike length for the Moktedu prospect now stands at 10 kilometres. So far only 3 kilometres of this has been tested by aircore drilling, while just 500 metres has been tested by reverse circulation and diamond drilling.

Results from the reverse circulation and diamond drilling program included intercepts of up to 42.95g/t gold, with highlights including:

- 6 metres at 8.36g/t gold from surface, including 1 metre at 42.95g/t gold;
- 6 metres at 5.78g/t gold from 74 metres, including 1 metre at 28.4g/t gold; and
- 21 metres at 1.13g/t gold from 121 metres, including 1 metre at 10.96g/t gold.

Aircore drilling will commence in June 2012 to test the new zones incorporating the extension to Moktedu.

The extensive drilling program planned at Moktedu will test for high grade mineralisation at depth and along strike.

West African has also identified three new zones of potential mineralisation on the Sondo and Sondo Sud permits, 5 kilometres south of Orezone’s (TSE: ORE) 3.5 million ounce gold Bomboré deposit.

Results for 25,000 metres of previous drilling are pending, including 10,000 metres of rotary air blast and reverse circulation work.



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Wed, 02 May 2012 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147254/west-african-resources-extends-gold-prospective-moktedu-prospect-to-10km-in-burkina-faso-28382.html
<![CDATA[News - West African Resources commences 200,000m drill program targeting gold in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147253/west-african-resources-commences-200000m-drill-program-targeting-gold-in-burkina-faso-21668.html West African Resources (ASX: WAF) has resumed exploration at its 100%-owned Boulsa Gold Project in Burkina Faso, West Africa, following the recent wet season.

The 2011-12 field season program includes an extensive 200,000 metre drilling campaign, targeting further mineralisation for a maiden resource estimate in June 2012.

With six drill rigs on site, more than 40 kilometres strike of auger anomalies are being followed up, representing less than 15% of anomalies drill tested to date.

Rotary airblast drilling at Meguet is in-progress and reverse circulation drilling along 1.6 kilometres strike of significant mineralisation at Moktedu has also commenced.

In addition, two auger rigs are infill drilling at the Sartenga Prospect which West African acquired in June 2011.

Richard Hyde, West African's managing director, said “with an extensive exploration program planned for the 2011-12 field season, we are targeting a maiden resource June 2012. We are looking forward to a busy year and updating the market on our progress.”

Previous significant results at Meguet include 10 metres at 7.67 g/t gold from 0 metres and 10 metres at 2.77 g/t gold from 0 metres, with both ended in mineralisation.

Significant mineralisation has been intercepted over a strike length of 1.6 kilometres at Moktedu with high-grade results from RAB drilling including 28 metres at 9.22 g/t gold from surface.

Prior to the onset of the wet season the company defined a large anomaly at Sartenga on a broad 200 metre by 800 metre grid, some 6.2 kilometre in strike length and up to 1.4 kilometre wide, with a peak result of 609 parts per billion (ppb) gold. Results from Sartenga are expected in late December 2011.

The 2011-12 auger drilling programs will test new areas acquired by West African in June 2011. These new landholdings include permits adjoining Orezone Gold Corporation’s (TSE: ORE) 3.5 million ounce Bomboré Deposit.

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Mon, 07 Nov 2011 13:38:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147253/west-african-resources-commences-200000m-drill-program-targeting-gold-in-burkina-faso-21668.html
<![CDATA[News - West African Resources ramps up Burkina Faso gold exploration, aims for maiden resource ]]> http://www.proactiveinvestors.com.au/companies/news/147252/west-african-resources-ramps-up-burkina-faso-gold-exploration-aims-for-maiden-resource-20446.html West African Resources (ASX: WAF) is preparing to increase exploration at its Boulsa Gold Project in Burkina Faso, located immediately along strike from the emergent 3.5 million ounce gold Bombore Deposit, with the aim of releasing a maiden resource in the June quarter of 2012.

Exploration is due to commence in mid October after the harvest season.

West African is targeting 200,000 metres of drilling in the 2011-12 field season. The company is fully funded for up to three years of intensive exploration of up to 200,000 metres of drilling per annum.

In addition to its existing rotary air blast drill rig and three augur rigs, West African has purchased reverse circulation and diamond drilling multi-purpose rigs to carry out its planned intensive exploration program.

The new rigs, along with compressors and exploration and drilling consumables have been delivered to Burkina Faso capital city Ouagadougou.

Exploration crews have returned to site and reconnaissance site visits have been completed to the main prospects, however it is too wet to start work.

Exploration will begin at the Meguet Prospect, which has less crop cover than the company’s other prospects.

West African’s 100%-owned Boulsa project covers 6,125 square kilometres and 185 kilometres of strike length of early Proterozoic Birmian greenstone belts, which are highly prospective for gold mineralisation.

Recent auger geochemical sampling at Boulsa delineated 25 robust targets over less than 10% of the current project area.

West African Resources also owns the Marandet Uranium Project in northern Niger, which covers 1,000 square kilometres of licence applications straddling the southern extension of the Arlit Fault, a major north trending structure known to be a dominant controlling structure for uranium mineralisation in the region.

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Thu, 06 Oct 2011 10:37:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147252/west-african-resources-ramps-up-burkina-faso-gold-exploration-aims-for-maiden-resource-20446.html
<![CDATA[News - West African Resources surface gold hits include 10m at 7.67 g/t in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147251/west-african-resources-surface-gold-hits-include-10m-at-767-gt-in-burkina-faso-18869.html West African Resources (ASX: WAF) is continuing to unlock the potential of the Boulsa Gold Project in Burkina Faso, with the latest round of near surface gold hits.

High grade highlights included 10 metres at 7.67 grams per tonne (g/t) gold from surface, and 4 metres at 4.40g/t gold from 8 metres.

Supporting the high grade hits were wider areas of gold mineralisation, which included 10 metres at 2.77g/t gold from surface, 12 metres at 1.59g/t gold from surface, and 24 metres at 1.00g/t gold from surface.

Where the exploration story becomes even more interesting for the company is that most of the gold hits from the shallow rotary air blast drilling ended in mineralisation, providing the potential for a deeper drill to extend these known zones.

West African Resources is already looking to drill deeper, with diamond and reverse circulation drilling planned for the 2011-12 field season, with the company fully funded for up to three years of intensive exploration including up to 200,000 metres of drilling annually.

The company is targeting a maiden resource estimate in mid-2012.

Adding to the potential of the project is the strategic location along strike from Orezone Gold Corp’s (TSE: ORE) 3.5 million gold ounce Bombore deposit.

Boulsa covers an extensive landholding of 6,125 square kilometres and 185 kilometres of strike length of early Proterozoic Birimian greenstone belts - which are highly prospective for gold mineralisation.

 

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Tue, 23 Aug 2011 08:58:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147251/west-african-resources-surface-gold-hits-include-10m-at-767-gt-in-burkina-faso-18869.html
<![CDATA[News - West African Resources discovers 6km gold anomaly at Sartenga Prospect in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147250/west-african-resources-discovers-6km-gold-anomaly-at-sartenga-prospect-in-burkina-faso-18131.html West African Resources (ASX: WAF) has discovered a large gold anomaly from first pass regional auger drilling at the Sartenga Prospect within its 100%-owned Boulsa Gold Project in Burkina Faso, West Africa.

The anomaly is a whopping 6.2 kilometres in strike length by up to 1.4 kilometres width, at a 10 parts per billion gold contour, in the northwest region of the prospect. There was a peak result of 3 metres at 0.61 grams per tonne (g/t) gold within the central portion of the anomaly.

Richard Hyde, West African's managing director, said “this is another exciting discovery by the company’s exploration team, and reinforces our long held strategy of holding large areas over Burkina’s under-explored greenstone terrains, and exploring as rapidly as possible using company owned rigs.”

The Boulsa Gold Project covers 6165 square kilometres and 185 kilometres of strike length of early Proterozoic Birimian greenstone belts which are highly prospective for gold mineralisation.

Significant results have already been returned from the project, which is located immediately along strike from Orezone Gold Corporation's (TSX: ORE) emergent 3.5Moz gold Bomboré Deposit.

Mineralisation at Sartenga has been discovered by West African through mapping, geochemistry, geophysics and drilling as mineralisation does not outcrop.

In addition there is no historic artisanal mining on the site therefore making this West African’s second gold discovery from the application of modern exploration methods in the past 12 months.

The company is planning to commence infill auger and rotary air blast  drilling in October following the wet season.

West African is fully funded for three years of intensive exploration including up to 200,000 metres of drilling per annum.

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Tue, 26 Jul 2011 16:07:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147250/west-african-resources-discovers-6km-gold-anomaly-at-sartenga-prospect-in-burkina-faso-18131.html
<![CDATA[News - West African Resources extends stike to 8kms at Moktedu, adjacent to 3.5m gold ounce Bomboré ]]> http://www.proactiveinvestors.com.au/companies/news/147249/west-african-resources-extends-stike-to-8kms-at-moktedu-adjacent-to-35m-gold-ounce-bombor-17244.html West African Resources (ASX: WAF) has boosted the potential of the Moktedu Trend in the resource evolving Burkina Faso, by extending the strike by 3 kilometres to 8 kilometres, with the company's landholding increasing to around 6165 square kilometres.

The strike is supported by a coincident magnetic trend, with WAF auger drilling and historic soil sampling peaking at 83 parts per billion gold.

West African already has a data review underway, with pattern auger drilling to commence in October 2011 following the country's wet season.

Moktedu can be considered highly prospective due to being strategically located adjacent to the Orezone Gold Corp (TSE: ORE) 3.5 million gold ounce Bomboré Deposit.

West African's landholding increase is through 100% ownership, applications and agreements to earn 100% ownership.

Previous high grade results from Moktedu include:

- 28 metres at 9.22 grams per tonne (g/t) gold from the surface, including 8 metres at 31.67g/t gold;
- 8 metres at 10.67g/t gold from 12 metres; and
- 13 metres at 4.60g/t gold from 20 metres, including 5 metres at 11.66g/t gold.

 

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Mon, 20 Jun 2011 09:18:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147249/west-african-resources-extends-stike-to-8kms-at-moktedu-adjacent-to-35m-gold-ounce-bombor-17244.html
<![CDATA[News - West African Resources hits more near surface high grade gold in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147248/west-african-resources-hits-more-near-surface-high-grade-gold-in-burkina-faso-16375.html West African Resources (ASX: WAF) has intersected more near surface high grade gold from first pass rotary air blast (RAB) drilling at its wholly-owned Boulsa Gold Project in Burkina Faso, West Africa.

Drilling has extended the oxide mineralised zone to three kilometres and has been from surface to an average vertical depth of only 25 metres, on broad 200 metre lines.

Highlights from drilling at the Moktedu Prospect, within Boulsa, include:

- 8 metres at 10.67 grams per tonne (g/t) gold from 12 metres, including: 4 metres at 17.79g/t gold;
- 3 metres at 3.23g/t gold from 28 metres ending in mineralisation; and
- 18 metres at 0.67g/t gold from 4 metres ending in mineralisation.

These results are located 800 metres to the northeast and along strike from high grade results reported in March which included:

- 28 metres at 9.22 grams per tonne (g/t) gold from surface; including 8 metres at 31.67g/t gold;
- 13 metres at 4.60g/t gold from 20 metres; including 5m at 11.66g/t gold; and
- 13 metres at 3.16g/t gold from 4 metres; including 4 metres at 9.91g/t gold.

The company has planned for resource definition drilling following the wet season and will have two reverse circulation drill rigs shipped to Burkina Faso in June with one rig able to drill both reverse circulation and diamond core holes.

West African is aiming to have deeper reverse circulation drilling completed at the target before the onset of the wet season.

The drilling is part of a continuous campaign of more than 100,000 metres of augur, RAB and reverse circulation drilling ongoing until July 2011.

To highlight just how big the company's footprint in West Africa is, the Boulsa Gold Project covers 5,345 square kilometres.

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Wed, 18 May 2011 09:45:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147248/west-african-resources-hits-more-near-surface-high-grade-gold-in-burkina-faso-16375.html
<![CDATA[News - West African Resources raises $7m for extensive exploration campaign in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147247/west-african-resources-raises-7m-for-extensive-exploration-campaign-in-burkina-faso-14945.html West African Resources (ASX: WAF) is fully funded for an expansive exploration campaign in the resource hot West African country of Burkina Faso, after a $7 million placement boosted cash reserves to $10 million.

The placement comprised 15.5 million shares at $0.45, well below today's last traded price of $0.53.

West African will now follow-up some recent high grade near surface gold hits at the Moktedu prospect which included:

- 28 metres at 9.22 grams per tonne (g/t) gold from surface; including 8 metres at 31.67g/t gold;
- 13 metres at 4.60g/t gold from 20 metres; including 5m at 11.66g/t gold; and
- 13 metres at 3.16g/t gold from 4 metres; including 4 metres at 9.91g/t gold.

Adding the potential for more discoveries is that Moktedu remains open in all directions and along strike.

Exploration by the company will be extensive over the medium term, which includes 200,000 metres over the next three years.

To highlight just how big the company's footprint in West Africa is, the Boulsa Gold Project covers 5,345 square kilometres.

Blackwood Capital arranged the raising.

 

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Fri, 25 Mar 2011 12:01:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147247/west-african-resources-raises-7m-for-extensive-exploration-campaign-in-burkina-faso-14945.html
<![CDATA[News - West African Resources hits 28m at 9.22g/t gold from surface in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147246/west-african-resources-hits-28m-at-922gt-gold-from-surface-in-burkina-faso-14805.html West African Resources (ASX: WAF) has returned a high-grade gold discovery from first pass RAB drilling at its Moketdu Prospect in Burkina Faso, including an intercept of 28 metres at 9.22g/t gold.

Mineralisation was intercepted over 1.6km strike length and is open in all directions.

Results include:

- 28m at 9.22 g/t gold from surface; including 8m at 31.67 g/t gold;
- 13m at 4.60 g/t gold from 20m; including 5m at 11.66 g/t gold; and
- 13m at 3.16 g/t Au from 4m; including in 4m at 9.91 g/t gold.

Mineralisation is open along strike to the northeast, southwest and at depth. Drilling was from surface to an average vertical depth of only 30m with a number of holes ending in gold mineralisation.

Drilling is on-going to the northeast, along strike following coincident auger and magnetic trend for a further 4km.
Two reverse circulation (RC) rigs have been commissioned and a drill manager employed to manage the company’s drilling programs and to advance the Moktedu to resource status.

A continuous 100,000m Auger, rotary air blast (RAB) and RC drilling program will be ongoing through to July 2011.

Richard Hyde, West African's managing director said, "the results have the potential to lift us from a junior explorer to resource developer with further exploration success."

Moketdu is located in the southwest corner of the company’s 100%-owned Boulsa Gold Project, only 4km northeast of Orezone Gold Corp’s (TSE: ORE) 3.5 million ounce (Moz) Au Bombore deposit, in Burkina Faso, West Africa.

The company has RAB drilled less than 30% of the strike at the Moktedu auger anomaly. There is also no active artisanal mining on the site therefore making this a true exploration discovery from the application of modern exploration methods.

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Mon, 21 Mar 2011 11:41:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147246/west-african-resources-hits-28m-at-922gt-gold-from-surface-in-burkina-faso-14805.html
<![CDATA[News - West African Resources hits high grade at surface gold at Boulsa in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147245/west-african-resources-hits-high-grade-at-surface-gold-at-boulsa-in-burkina-faso-13728.html West African Resources (ASX: WAF) has hit high grade gold including; 10 metres at 7.09 grams per tonne (g/t) gold from the surface at the Boulsa Gold project in Burkina Faso, West Africa.

Other highlights from the rotary air-blast drilling include; 10 metres at 2.55g/t gold, and, 10 metres at 0.94g/t gold, with both hits from the surface.

The company said mineralisation is open to the east, south and at depth, with an additional rotary air-blast rig commissioned to accelerate drilling programs.

The market liked the results, pushing the stock 8% higher to $0.39 in intra-day trade around midday.

 

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Mon, 07 Feb 2011 12:37:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147245/west-african-resources-hits-high-grade-at-surface-gold-at-boulsa-in-burkina-faso-13728.html
<![CDATA[News - West African Resources hits near surface gold at wholly owned Burkina Faso Projects ]]> http://www.proactiveinvestors.com.au/companies/news/147244/west-african-resources-hits-near-surface-gold-at-wholly-owned-burkina-faso-projects-12092.html Near surface and wide gold intersections have been identified over an extensive strike length by West African Resources (ASX: WAF), at its wholly owned Burkina Faso Projects, named the Meguet, Fatmatenga and Barnstoneworth prospects.

High grade intersections include; 12m at 4.57g/t gold, with broad intersections from surface including; 52m at 0.60g/t gold, from the current drilling program.

Drilling across all prospects consisted of reverse circulation fences with holes between 40m and 50m in depth, and on 20m to 25m centres, for a total of 65 holes for 3,234m.

Richard Hyde, managing director, said "Detailed auger drilling using our own rigs is on-going across the 30km strike of anomalies encompassing the Meguet and Moktedu areas."

The company will continue auger and rotary air blast drilling will continue through to July 2011, with more than 100,000m of drilling planned and budgeted.

 

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Mon, 29 Nov 2010 12:44:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147244/west-african-resources-hits-near-surface-gold-at-wholly-owned-burkina-faso-projects-12092.html
<![CDATA[News - West African Resources to begin aggressive drilling at Boulsa ]]> http://www.proactiveinvestors.com.au/companies/news/147243/west-african-resources-to-begin-aggressive-drilling-at-boulsa-10763.html With A$4.8 million cash on hand, a well funded West African Resources (ASX: WAF) has used the wet season to plan a continuous ten month drilling program to commence immediately at the highly prospective Boulsa Gold Project in Burkina Faso.

Detailed auger infill drilling will continue uninterrupted over the next six months, with the company conducting rotary air blast drilling through to July 2011, with a budgeted expenditure of A$2.5 million.

The work program comprises 5,000m of RC drilling, a 100,000m plus auger and rotary air blast while a detailed structural interpretation and targeting program is ongoing.

West African has the structure in place to complete the program within its set timelines, as all personnel required have been hired and are in place.

RC drilling highlights from Fatmatenga include:

- 8m at 10.37g/t Au from 56m in hole MRC012, including 1m at 58.30g/t Au from 57m;
- 6m at 3.14g/t Au from 17m in hole MRC020; and
- 6m at 2.46g/t Au from 28m in hole MRC022.

RC drilling highlights from Meguet include:

- 7m at 2.32g/t Au from 4m in hole MRC008;
- 1m at 9.43g/t Au from 15m in hole MRC008; and
- 20m at 0.95g/t Au from surface in hole MRC052.

The Boulsa Gold covers 4,750km2, and 150km of strike length of early Proterozoic Birimian greenstone belts, which are highly prospective for gold mineralisation.

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Wed, 13 Oct 2010 06:06:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147243/west-african-resources-to-begin-aggressive-drilling-at-boulsa-10763.html
<![CDATA[News - West African Resources encouraged by drill results at Boulsa Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/147242/west-african-resources-encouraged-by-drill-results-at-boulsa-gold-project-8453.html Perth-based gold exploration company West African Resources (ASX: WAF) has reported high grade drilling results of 8m at 10.37g/t Au at its Fatmatenga prospect within the Boulsa Gold Project in Burkina Faso.

In a statement the company said first pass sampling on shallow holes of less than 50m deep drilled prior to the initial public offering (IPO) was completed on a 4m composite basis.

Following receipt of mineralised composites a detailed 1m sampling and relogging program was undertaken through gold mineralised zones.

Significant results for the drilling completed at the Fatmatenga and Meguet prospects, based on 1m sampling are:

Fatmatenga Prospect - 8m at 10.37g/t Au from 56m in hole MRC012 (including 1m at 58.30g/t Au from 57m); 3m at 3.42g/t Au from 8m in hole MRC017; and 6m at 3.14g/t Au from 17m in hole MRC020.

Meguet Prospect - 7m at 2.32g/t Au from 4m in hole MRC008; 1m at 9.43g/t Au from 15m in hole MRC008; and 7m at 1.55g/t Au from 28m in hole MRC042.

Detailed logging of RC holes in combination with surface mapping and sampling indicates that mineralisation at Fatmatenga and Meguet occurs within east-west trending stacked gold bearing veins, within an overall northeast mineralised trend.

Richard Hyde , managing director, said the company is encouraged by the shallow depth at which mineralisation has been encountered and has designed a 5,000m program of follow-up RC drilling, which is scheduled to commence within two weeks.

Follow-up reverse circulation (RC) drilling along strike extensions and at depth is planned with a drill rig booked to start within two weeks.

The mineralised zones remain open and proposed drilling will test extensions along strike and beneath intercepts returned from previous drilling.

A 20,000 line km airborne magnetic survey is complete and interpretation for drilling
targets is underway. Auger drilling on regional permits is ongoing with initial results due to be available shortly.

Regional auger sampling on the company’s permits is ongoing, with two rigs working continuously. Sampling is being completed on an 800m by 200m grid over previously untested greenstone terrains.

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Wed, 07 Jul 2010 14:18:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147242/west-african-resources-encouraged-by-drill-results-at-boulsa-gold-project-8453.html
<![CDATA[News - West African Resources increases landholding in Burkina Faso ]]> http://www.proactiveinvestors.com.au/companies/news/147241/west-african-resources-increases-landholding-in-burkina-faso-8220.html West African Resources Ltd (ASX: WAF) has increased its landholding from 2,000 km2 to 4,750 km2 through 14 licence applications adjacent to its current project area in Burkina Faso.

The new project area continues along strike from the Boulsa Gold Project, incorporating a number of high priority structural targets and increases coverage of highly prospective shear zones to over 250km.

The new area extends coverage over the Manga-Sebba greenstone belt and the southern extension of the Fada N’Gourma Belt. The Manga-Sebba belt hosts a number of deposits including the 2.71Moz Au Bombore (Orezone Gold Corp.) which is immediately adjacent to the southwest corner of West African Resources project area.

The new areas also extend the coverage of the Markoye Fault to the northeast which crosscuts the west portion of the projects area, and hosts a number of deposits including Taparko-Bouroum (1.7Moz Au - High River Gold Mines Ltd), Essakane (5.3Moz Iamgold Corporation) and Kiaka (2.65Moz Au Moz Volta Resources Inc).

The lodgement of the applications follows a detailed structural review and reconnaissance of the area surrounding the Boulsa Gold Project using regional geophysical and remote sensing datasets.

Ministerial approval is required in Burkina Faso before permits are granted and work programs can commence, and this should coincide with the end of the wet season later this year. Based on past experience the Company anticipates that granting will take 3 to 6 months, however there is no guarantee that the permits will be granted or that they will be granted without undue delays.

West African managing director Richard Hyde said data collation and reconnaissance had started on the new areas and that the applications had been in keeping with the Company’s regional strategy.

“The new ground is a significant addition to our exploration portfolio in Burkina Faso and supports our strategy in the Boulsa region” Mr Hyde said.

“We will continue to grow the Company’s landholding in Burkina Faso through regional targeting and applications, however where appropriate, we will negotiate directly with local land holders.”

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Mon, 28 Jun 2010 07:12:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147241/west-african-resources-increases-landholding-in-burkina-faso-8220.html
<![CDATA[News - West African Resources advances exploration at Boulsa Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/147240/west-african-resources-advances-exploration-at-boulsa-gold-project-7873.html Gold exploration company West African Resources (ASX: WAF) has commenced work programs at its Boulsa Gold Project in Burkina Faso and budgeted $2.5 million for exploration in 2010-11.

The company said regional and infill auger sampling, using company-owned rigs, has been ongoing for the past two months at Boulsa and auger drilling will continue during the next 12 months, with programs only scheduled to break during Burkina Faso’s wet season (July– September).

West African custom built a RAB rig in early 2010 and is currently finalising shipping of RAB drilling equipment and consumables to Burkina Faso and RAB programs will commence following the wet season. A 3000m RC program has also been designed to follow up significant results from 2009 RC drilling.

The company is in discussions with drill contractors and aims to have the RC program completed prior to the wet season.

Richard Hyde, managing director, said exploration work had been ongoing at Bousla throughout the listing process.

“We have the people we want already in place to carry out our programs,” Hyde said.

“The airborne survey will be completed in a fortnight and we are looking forward to a busy year with continuous news flow,” he added.

A detailed airborne geophysical survey has been designed to cover the company’s entire landholding at Boulsa, which incorporates magnetic, radiometric and digital elevation model (DTM) data. This program commenced on 3 June 2010, and the company expects it to be completed within two weeks.

West African Resources was listed on the ASX on 11 June after an initial public offering raised $6.5 million.

The company has 147.7 million shares on issue and 29.5 million options on issue, with a market capitalisation of $32.5 million at 22c and $6.1 million cash in bank.

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Tue, 15 Jun 2010 11:50:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147240/west-african-resources-advances-exploration-at-boulsa-gold-project-7873.html