Sign up Australia
Proactive Investors - Run By Investors For Investors

West African Resources drills more high-grade gold in Burkina Faso

The company remains on track to deliver a resource update in Q3 2017.
West African Resources drills more high-grade gold in Burkina Faso
West African is well-funded with $28.5 million in cash

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.

View full WAF profile View Profile

West African Resources Ltd Timeline

Related Articles

1539587791_Kavango.jpg
October 15 2018
KSZ holds potential for world class base and precious metals deposits
1536759814_Bluejay---ilmenite.jpg
September 12 2018
Bluejay is now sending off product samples to potential customers
lithium batteries
October 12 2018
New $10 million facility allows EUR to ensure the DFS process is fully funded whilst retaining flexibility in partner negotiations.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use