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West African Resources Limited ACN 121 539 375
Principal Office:
Unit 14, 531 Hay Street
Subiaco WA 6008
Western Australia
Phone: + 61 8 9481 7344
Fax: + 61 8 9481 7355
Email: [email protected]
Web: www.westafricanresources.com
A S X A N N O U N C E M E N T M o n d a y 1 0 t h D e c e m b e r 2 0 1 2
Wide zones of primary gold-copper-molybdenum
intersected in first deep +400m hole, large-scale potential
of Sartenga confirmed, drill-out under-way
Grades up to 1.8g/t Au, 0.8% Cu, 1140g/t Mo,
37g/t Ag, 2.8 g/t Re
200m grading 0.7 g/t gold equivalent* from 128m
(0.2g/t Au, 0.1% Cu, 181g/t Mo, 1g/t Ag, 0.3g/t Re)
including
32m grading 1.0 g/t gold equivalent* from 128m,
(0.4g/t Au, 0.2% Cu, 188g/t Mo, 1g/t Ag, 0.3g/t Re)
and
10m grading 1.0 g/t gold equivalent* from 199m,
(0.3g/t Au, 0.2% Cu, 366g/t Mo, 1g/t Ag, 0.7g/t Re)
+1.0g/t gold equivalent* over 80m aggregated down-hole
Sartenga mineralisation intersected over a 2km strike, up to 500m width
in shallow RC drilling and to 300m depth in SDH009
Sartenga fast-tracked to resource status in parallel with Moktedu; full-
scale Mineral Resource drill out has commenced
19 batches representing 15,000m of drill core and aircore in Perth
laboratory. Results for 9 diamond core to be reported in coming weeks F
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West African Resources Limited (ASX: WAF) is pleased to report assay results from the first deep
diamond core hole SDH009, the first drill hole to target the primary mineralisation, at its 100%-owned
Sartenga copper-gold discovery, part of the Boulsa Project, Burkina Faso.
“We are delighted with the results from the first deep diamond drill hole into primary material
beneath the large mineralised oxide layer at Sartenga,” West African Managing Director Richard Hyde
said.
“SDH009 confirms the large-scale potential of Sartenga intersecting +1.0g/t gold equivalent over 80
metres aggregated down-hole within a 200m zone grading 0.7g/t gold equivalent. This is an excellent
start to the Mineral Resource drill out. Further deep diamond core and shallow RC results are pending
and will be reported as they are received by the Company.”
Figure 1: Sartenga Main Zone Section 7 showing SDH009
SDH009 was drilled on the discovery Section 7 beneath the previously reported results 45.5m grading
1.1 g/t Aueq* (0.5g/t Au, 0.3% Cu, 315g/t Mo) including 15.5m grading 1.6 g/t Aueq* (0.7g/t Au, 0.5%
Cu, 407g/t Mo) and 36m grading 1.0g/t Aueq* (0.5g/t Au, 0.2% Cu, 295g/t Mo) (ASX: 6/8/12). SDH009
intercepted continuous mineralisation grading from 128m for 200m at 0.7g/t Aueq* (0.2g/t Au, 0.1% Cu,
181 g/t Mo, 1 g/t Ag, 0.3 g/t Re).
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Within this zone a number of +1.0g/t Aueq* zones were intercepted including (full results in Table 1 and
2):-
- 32m at 1.0g/t Aueq* (0.4g/t Au, 0.2% Cu, 188g/t Mo, 1g/t Ag, 0.4g/t Re) from 128m
- 3m at 1.2g/t Aueq* (0.5g/t Au, 0.2% Cu, 241g/t Mo, 1g/t Ag, 0.6g/t Re) from 180m
- 4m at 1.1g/t Aueq* (0.4g/t Au, 0.2% Cu, 214g/t Mo, 1g/t Ag, 0.3g/t Re) from 185m
- 3m at 1.1g/t Aueq* (0.2g/t Au, 0.2% Cu, 493g/t Mo, 1g/t Ag, 0.8g/t Re) from 195m
- 10m at 1.0g/t Aueq* (0.3g/t Au, 0.2% Cu, 366g/t Mo, 1g/t Ag, 0.7g/t Re) from 199m
- 4m at 1.1g/t Aueq* (0.4g/t Au, 0.2% Cu, 253g/t Mo, 1g/t Ag, 0.3g/t Re) from 247m
- 2m at 1.1g/t Aueq* (0.4g/t Au, 0.2% Cu, 286g/t Mo, 1g/t Ag, 0.5g/t Re) from 262m
- 4m at 1.0g/t Aueq* (0.3g/t Au, 0.2% Cu, 339g/t Mo, 1g/t Ag, 0.6g/t Re) from 271m
Mineralisation at Sartenga has been intersected in aircore, RC and diamond drilling over a very large
target area in Mineral Resource drilling which is underway. Including the first primary drill hole result
from SDH009, gold-copper-molybdenum mineralisation has now been intersected over 2km of strike, up
to 500m of width in shallow oxide drilling and down to 300m in depth.
Primary mineralisation is associated with strong shearing and brecciation within altered diorite and is
interpreted to be over 200m true width at depth on Section 7 at +0.5g/t Aueq*. Mineralisation remains
open at depth and to the northwest beneath extensive oxide mineralisation and will be tested with
further deep diamond core drilling this field season.
Significant grades of Rhenium (Re) were also returned from molybdenum rich zones in fresh material.
Rhenium is often associated with copper and molybdenum deposits, and is used the manufacture of
high-temperature superalloys. In recent times Re has traded between US$2,500 and $12,500 per
kilogram.
All pulverised drill samples are analysed by XRF in the Company’s exploration office in Ouagadougou,
the capital of Burkina Faso, to assist with exploration planning. Based on the information received to
date, a consistent relationship between XRF and ICP is being established. Currently results for a further
nine drill core holes are pending at the laboratory. SDH012 has reported a strong zone of copper (0.2-
0.3%) and molybdenum (200-220g/t Mo) mineralisation between 190m and 250m downhole (EOH:
267m). SDH012 is located on Section 9 200m northeast of Section 7. XRF results are also pending for
other key holes.
Results in section and plan are shown in Figures 1 and 2, while the general exploration summary for
work completed to date at Sartenga is presented in Figure 3. Significant results are presented below in
Table 1 and 2 at 0.5 g/t and 1.0 g/t gold equivalent respectively. Exploration has been ongoing at a
considerable rate at Sartenga since early October. In total, 14 diamond holes have now been drilled for
2,500m covering 1.2km of strike (Figure 3). More than 370 aircore holes have been drilled for 16,800m
over 100m spacing in the main zone, and 200m section on the southwest and northeast extensions.
Outstanding assays are shown in Table 3. Results for further deep diamond core are imminent and will
be reported as soon as they are received by the company.
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Table 1
Significant Results
SDH009 +0.5 Aueq*
Hole From To Interval Aueq* g/t Au g/t Cu % Mo g/t Ag g/t Re g/t Oxidation
State
SDH009 3 5 2 - - 0.1 489 - - Oxide
SDH009 10 11 1 - 0.3 0.1 12 1 - Oxide
SDH009 12 21 9 - 0.1 0.1 6 8 - Oxide
SDH009 23 24 1 - 0.7 0.1 11 - - Oxide
SDH009 27 28 1 - 0.7 0.1 16 - - Oxide
SDH009 46 47 1 - 0.4 0.1 5 - - Trans
SDH009 83 84 1 - 0.1 0.2 47 1 - Trans
SDH009 86 87 1 - 0.3 0.1 29 2 - Trans
SDH009 93 94 1 0.5 0.1 0.1 137 - 0.5 Fresh
SDH009 99 100 1 0.5 0.2 0.1 185 1 0.3 Fresh
SDH009 106 117 11 0.6 0.2 0.1 97 1 0.2 Fresh
SDH009 128 328 200 0.7 0.2 0.1 181 1 0.3 Fresh
SDH009 345 349 4 0.5 0.2 0.1 159 1 0.2 Fresh
SDH009 356 357 1 1.3 0.2 0.4 373 2 0.3 Fresh
SDH009 370 371 1 1.0 0.2 0.3 151 2 0.1 Fresh
Table 2
Significant Results
SDH009 +1.0 Aueq*
Hole From To Interval Aueq* g/t Au g/t Cu % Mo g/t Ag g/t Re g/t Oxidation
State
SDH009 16 17 1 - 0.1 0.1 5 37 0.0 Oxide
SDH009 115 116 1 1.1 0.5 0.2 134 2 0.4 Fresh
SDH009 128 160 32 1.0 0.4 0.2 188 1 0.4 Fresh
SDH009 180 183 3 1.2 0.5 0.2 241 1 0.6 Fresh
SDH009 185 189 4 1.0 0.4 0.2 214 1 0.3 Fresh
SDH009 190 191 1 1.2 0.5 0.2 251 1 0.5 Fresh
SDH009 195 198 3 1.1 0.2 0.2 493 1 0.8 Fresh
SDH009 199 209 10 1.0 0.3 0.2 366 1 0.7 Fresh
SDH009 233 235 2 1.2 0.4 0.1 440 1 0.6 Fresh
SDH009 236 239 3 1.1 0.3 0.1 457 - 0.8 Fresh
SDH009 243 245 2 1.1 0.6 0.2 146 2 0.2 Fresh
SDH009 247 251 4 1.1 0.4 0.2 253 1 0.3 Fresh
SDH009 252 253 1 1.2 0.5 0.3 182 2 0.2 Fresh
SDH009 255 256 1 1.0 0.1 0.1 625 - 1.2 Fresh
SDH009 260 261 1 1.4 0.5 0.2 385 2 0.7 Fresh
SDH009 262 264 2 1.1 0.4 0.2 286 1 0.5 Fresh
SDH009 271 275 4 1.0 0.3 0.2 339 1 0.6 Fresh
SDH009 313 314 1 1.1 0.2 0.3 312 1 0.4 Fresh
SDH009 321 322 1 1.0 0.3 0.1 431 1 0.6 Fresh
SDH009 348 349 1 1.1 0.5 0.2 145 2 0.2 Fresh
SDH009 356 357 1 1.3 0.2 0.4 373 2 0.3 Fresh
SDH009 370 371 1 1.0 0.2 0.3 151 2 0.1 Fresh
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Figure 2: Sartenga Main Zone Drill Plan
Figure 3: Sartenga Exploration Summary (Note: detailed plan inset)
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Table 3
2012-13 Field Season
Aircore and Diamond Core Sample Status
Batch Number No. of
samples
Sample
Type Hole IDs Status Comment
0001 193 Aircore SAC0390-0403 Reported No Significant Results
0002 189 Aircore SAC0500-0510 Pending -
0003 197 Aircore SAC0511-0522 Reported SAC0511-114 pending; ASX:5/12/12
0004 188 Aircore SAC0523-0533 Reported ASX: 3/12/12
0005 191 Aircore SAC0534-0543 Pending -
0006 192 Aircore SAC0404-0419 Pending -
0007 198 Aircore SAC0544-0554 Pending -
0008 182 Aircore SAC0555-0565 Reported ASX: 5/12/12
0009 189 Aircore SAC0566-0577 Pending -
0010 197 Aircore SAC0578-0589 Pending -
0011 191 Aircore SAC0590-0602 Pending -
0012 232 Drillcore SDH009 Pending Reported
0013 189 Aircore SAC0420-0432 Pending -
0014 233 Drillcore SDH009 Pending Priority samples
0015 192 Aircore SAC0603-0615 Pending -
0016 192 Aircore SAC0433-0451 Pending -
0017 185 Aircore SAC0616-0627 Pending -
0018 189 Aircore SAC0628-0639 Pending -
0019 175 Aircore SAC0640-0650 Pending -
0020 116 Drillcore SDH007 Pending Priority samples
0021 197 Aircore SAC0452-0469 Pending -
0022 281 Drillcore SDH011 Pending Priority samples
0023 181 Aircore SAC0469-0485 Pending -
0024 299 Drillcore SDH012 Pending Priority samples
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About West African Resources and the Boulsa Gold Project
The Boulsa Project in Burkina Faso covers 6,370km² and 200km 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 5.2Moz Au Bomboré Deposit. West African has made a major Au-Cu-Mo discovery at the
Sartenga Discovery in 2012.
West African Resources Ltd is focused on cost-effective copper-gold exploration, by keeping our
administration and corporate costs to a minimum and exploring as expeditiously as possible. We own
and operate a fleet of six drill rigs which are working continuously on the Boulsa Gold Project. Our drill
fleet includes three auger rigs, one RAB rig and two multi-purpose RC-diamond rigs. In Burkina Faso we
have a local exploration, drilling and support team of more than 50 people. West African Resources is
committed to the training and development of our local workforce.
West African will keep the market informed as results are received.
Further information is available at www.westafricanresources.com
For further information contact:
Richard Hyde Nathan Ryan
Managing Director Investor Relations
Ph: 0413 874 740 Ph: 0420 582 887
Email: [email protected]
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Competent Person’s Statement
Information in this announcement that relates to exploration results or mineral resources is based on
information compiled by Mr Richard Hyde, a Director, who is a Member of The Australian Institute of
Mining and Metallurgy. Mr Hyde has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr Hyde consents to the
inclusion in this announcement of the statements based on his information in the form and context in
which they appear.
Statements regarding West African Resources’ plans with respect to its mineral properties are forward-
looking statements. There can be no assurance that West African Resources’ plans for development of
its mineral properties will proceed as currently expected. There can also be no assurance that West
African Resources’ will be able to confirm the presence of additional mineral deposits, that any
mineralisation will prove to be economic or that a mine will successfully be developed on any of West
African Resources’ mineral properties.
Notes on assaying and compositing
Drilling results reported in this announcement have been assayed using the Fire Assay method (40g) for
Au with ICP OES finish, and by ‘Mixed Acid Digest’ ICP OES method for Cu, and ICP MS for Mo and Ag at
Bureau Veritas Laboratories in Perth. All results for aircore drilling are based on 4m riffle-split
composites, and RC and diamond results are based on representative 1m samples, at 0.5g/t Aueq* and
1.0 g/t Aueq* lower cut offs, and not more than 8m of internal dilution, unless otherwise stated. For
oxide intercepts, Aueq* has only been used as a guide for compositing results. All results are reported
as downhole intercepts, true widths are yet to be determined. WAF employs strict QAQC protocols,
including regularly inserting blank, field duplicate and reference material into the sample sequence. For
the data contained in this release, all QAQC results have reported within acceptable limits for the assay
methods used.
Gold Equivalent Calculations
The gold equivalent calculation represents total metal value for each metal, summed and expressed in
equivalent gold grams per tonne. These results are exploration results only. No assumptions have been
made for potential metal recoveries, however it is the Company’s opinion that metals considered here
have a reasonable potential to be recovered as evidenced in similar Au-Cu-Mo related mineralisation
elsewhere in the world. At the time of reporting gold equivalent results have only been reported for
fresh material. The Company is investigating the potential to recover metals from oxide material, and
for the moment will continue to individual metals for oxide intercepts until preliminary testwork has
been completed.
Gold equivalent conversion factors and long-term price assumptions used are as follows:
Gold Equivalent Formula= Au g/t + Cu % x 1.7 + Mo g/t x 0.0009 + Ag x0.03 +Re x 0.17
Price Assumptions- Au (US$1200/oz) Cu (US$3/lb) Mo (US$15/lb) Ag (US$30/oz) Re ($200/oz)
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Technical Terms Ag Chemical symbol for silver. Aircore Drilling Reverse Circulation drilling method, using a blade bit. A drilling method in which
the sample is brought to the surface inside the drill rods using compressed air,
reducing contamination. Au Chemical symbol for gold. Auger Drilling A drilling method in which the sample is brought to the surface via a helical or
spiral rods. Cu Chemical symbol for copper. Diamond Drilling (DD) A rotary drilling method with diamond impregnated bits to produce a solid,
continuous core sample of the rock. g/t grams per tonne. ICP Inductively Coupled Plasma (ICP) MAD Mixed acid digest including Hydrofluoric, Nitric, Hydrochloric and Perchloric
Acids. This extended digest approaches a total digest for many elements
however some refractory minerals are not completely attacked. Mo Chemical symbol for molybdenum. MS Mass Spectrometry OES Optical Emission Spectrometry ppb parts per billion, e.g. 1000 ppb Au equals 1 ppm Au, or 1 g/t Au. ppm parts per million, equivalent to g/t. RAB Drilling Rotary Air Blast drilling. A drilling method in which the sample is brought to the
surface outside of the drill rods using compressed air. RC Drilling Reverse Circulation drilling. A drilling method in which the sample is brought to
the surface inside the drill rods using compressed air, reducing contamination. Re Chemical symbol for Rhenium. Rhenium Rhenium is a rare metal that is highly resistant to heat and wear. Rhenium
resembles manganese chemically and is obtained as a by-product of
molybdenum and copper ore. XRF X-ray fluorescence (XRF) is the emission of characteristic "secondary" (or
fluorescent) X-rays from a material that has been excited by bombarding with
high-energy X-rays or gamma rays. The phenomenon is widely used for
chemical analysis.
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