West African Resources Limited
ACN 121 539 375
Principal Office:
Unit 14, 531 Hay Street
Subiaco WA 6008
Western Australia
Phone:
Fax:
Email:
Web:
+ 61 8 9481 7344
+ 61 8 9481 7355
[email protected]
www.westafricanresources.com
ASX ANNOUNCEMENT
Wednesday 19th December 2012
Wide primary mineralisation confirmed at depth over 1.2km
strike length within 4km main zone at Sartenga
Oxide zone now 1.2km strike at 300m to 500m wide
West African Managing Director Richard Hyde said: “New diamond core drilling results
indicate a very large copper-gold-molybdenum system developing at Sartenga which has now
been confirmed over more than 1.2km in strike length. Mineralisation is open across strike
and at depth on all sections. The potential for discovery of primary mineralisation along the
strike extensions in the main zone, and further parallel zones is high. We will continue to drill
Sartenga aggressively through 2013 and into 2014.”
SDH012 on Section 9
70m at 0.2% Cu and 220 g/t Mo from 194m end of hole*
10m at 0.2% Cu and 259 g/t Mo from 125m*
*Interim Results (awaiting gold assays)
SDH016 on Section 11
38m at 0.2% Cu and 196 g/t Mo from 112m* end of hole
*Interim Results (awaiting gold assays)
SDH006 on Section 9
58m at 0.4g/t Au, 0.2% Cu and 123 g/t Mo from 59m end of hole
including 11m at 0.5g/t Au, 0.3% Cu and 252 g/t Mo from 84m
and 3m at 0.8 g/t Au, 0.3% Cu and 846 g/t Mo from 114m
SAC0548 on Section 9
75m at 0.3g/t Au and 0.3% Cu from surface
including 20m at 0.1g/t Au and 0.5% Cu from 8m
and 19m at 0.5g/t Au and 0.3% Cu from 56m end of hole
17 batches, 12,000m of drill core and aircore in Perth laboratory
3,500m of drill core and aircore in Ouagadougou awaiting airfreight
Solid news flow to continue well into 2014 from pending results
Page: 1
West African Resources Limited
West African Resources Limited (ASX: WAF) is pleased to announce that primary sulphide mineralisation
has been intersected in diamond core drilling over 1.2km at its 100%-owned Sartenga copper-gold
discovery, part of the Boulsa Project, Burkina Faso. Further oxide results confirm mineralisation is more
than 300m wide on Section 9 and remains to be effectively tested at depth. New results in this
announcement are located on Sections 9, 11 and 3 (Figures 1 to 4).
Section 9
Strong copper and molybdenum results have been returned from interim XRF analysis (XRF cannot test
for gold) of primary sulphide mineralisation on Section 9 in SDH012returning 70m at 0.2% Cu and 220
g/t Mo from 194m ending in mineralisation at 264m and 10m at 0.2% Cu and 259 g/t Mo from 125m.
Complete Fire Assay and Inductively Coupled Plasma (ICP) results for SDH012 are expected within the
next week. Oxide copper-gold mineralisation has also been intercepted over 300m in width on Section 9
with most aircore holes mineralised from surface to bottom of hole. Section 9 also includes shallow
diamond core hole SDH006 which returned 58m at 0.4g/t Au, 0.2% Cu and 123 g/t Mo from 59m
including 11m at 0.5g/t Au, 0.3% Cu and 252 g/t Mo and 3m at 0.8 g/t Au, 0.3% Cu and 846 g/t Mo
from 114m, ending in mineralisation. Further significant oxide results on Section 9 include 75m at
0.3g/t Au and 0.3% Cu from surface ending in mineralisation; including 20m at 0.1g/t Au and 0.5% Cu
from 8m, ending in 19m at 0.5g/t Au and 0.3% Cu in aircore hole SAC0548.
Figure 1: Sartenga Main Zone Section 9
As previously reported a higher grade oxide copper zone was intercepted in the north-western portion
of sections 5 to 8(ASX: 12/12/12). This zone is also present on Section 9 with SAC0554 returning 68m at
0.1g/t Au and 0.3% Cu from surface, including 16m at 0.1g/t Au and 0.6% Cu from 32m. High potential
exists for the discovery of further parallel primary mineralisation beneath the mineralised oxide zone
across strike on Section 9 which will be tested with deep diamond core or RC early in 2013.
Page: 2
West African Resources Limited
Section 11
Prior to the 2012 wet season strong gold, copper and molybdenum results were returned from Section
11. Follow up diamond drill holes SDH010 and SDH016 have intercepted strong primary sulphide
mineralisation in interim XRF analysis. SDH016 has intercepted a number of mineralised zones including
38m at 0.2% Cu and 196 g/t Mo from 112m ending in mineralisation at 150m. SDH010 also
intercepted numerous strongly mineralised zones including 26.1m at 0.2% Cu and 112 g/t Mo from
145m ending in mineralisation at 171.1m. Complete Fire Assay and ICP results for SDH010 are expected
within the next week.
Figure 2: Sartenga Main Zone Section 11
Results for SDH016are expected within two weeks. Oxide copper-gold mineralisation has now been
intercepted over 250m width on Section 11 with a number of aircore holes mineralised from surface to
the end of the hole. Significant oxide results from SAC00263 include 32m at 0.2g/t Au and 0.7% Cu from
8m including 16m at 0.2g/t Au and 1.2% Cu. High potential also exists for the discovery of further
parallel primary mineralisation on across strike on Section 11which is already interpreted to be over
80m true width.
Section 3
Oxide and primary copper-gold-molybdenum mineralisation has been intercepted over 500m in width
on Section 3 in aircore, RC and diamond core. Interim results have been returned from XRF analysis of
SDH008 which has returned results of 23m at 0.2% Cu and 333 g/t Mo from 102m and 10m at 0.2% Cu
and 252 g/t Mo from 135m ending in mineralisation at 150m. Interim results have been returned from
SDH0013 including results of 40m at 0.1% Cu and 301 g/t Mo from 102m and 10m at 0.2% Cu and 252
g/t Mo from 135m ending in mineralisation at 150m. Complete Fire Assay and ICP results for SDH0008
and SDH013 are expected within two weeks. Significant oxide results from SAC00589 include40m at
0.4g/t Au and 0.2% Cu from 8m ending in 11m at 0.3g/t Au and 0.2% Cu.
Page: 3
West African Resources Limited
Figure 3: Sartenga Main Zone Section 3
Previously reported diamond core results on this section include SDH005 which returned include50m at
0.4g/t Au and 0.2% Cu from 25m including 22m at 0.6g/t Au and 0.3% Cu, and 23m at 0.3g/t Au, 0.2%
Cu and 238 g/t Mo from 84m. Significant primary mineralisation on Section 3 confirms the current
drilled strike length of mineralisation to more than 1.2km at Sartenga. This represents a very large
copper-gold-molybdenum system which will be aggressively drilled through 2013 into 2014.
Significant results for new diamond core and aircore, as well as previously reported results in section
and plan are shown in Figures 1 to 4, while the general exploration summary for work completed to
date at Sartenga is presented in Figure 5. All significant results to date are presented below in Tables 1
and 2 for Section 9 results for Section 11 are presented as Tables 3 and 4, while results for Section 3 are
presented in Tables 5 to 7. Background information regarding assaying and compositing of drilling
results is presented at the back of this announcement.
Exploration has been ongoing at a considerable rate at Sartenga since early October with up to six drill
rigs in operation. In total, 13 diamond holes have now been drilled for 2,400m covering 1.2km of strike
(Figure 3). Further, more than 17,000m of aircore drilling at 100m spacing in the main zone, and on
200m sections on the southwest and northeast extensions has been completed. Pending assays are
shown in Table 8. Complete results for deep diamond core are imminent and will be reported as soon
as they are received by the Company.
Page: 4
West African Resources Limited
Figure 4: Sartenga Main Zone Drill Plan
Figure 5: Sartenga Exploration Summary (Note: detailed plan inset)
Page: 5
West African Resources Limited
Table 1
Section 9
Significant Results – New Aircore (Fire Assay Au and ICP Cu Mo and Ag)
Aueq*
To
Interval
Au g/t Cu % Mo g/t
Ag g/t
g/t
Hole
From
SAC0545
4
8
4
-
0.0
0.1
453
-
SAC0546
16
20
4
-
0.2
0.1
61
2
SAC0546
40
63
23
-
0.5
0.1
11
-
SAC0547
4
24
20
-
0.1
0.3
54
-
SAC0547
56
60
4
-
0.2
0.2
4
-
SAC0548
0
75
75
-
0.3
0.3
40
-
including
8
28
20
-
0.1
0.5
24
2
and
40
44
4
-
0.3
0.4
26
2
and
56
75
19
-
0.5
0.3
13
-
SAC0549
0
71
71
-
0.2
0.3
48
-
SAC0550
0
57
57
-
0.3
0.3
105
1
including
12
16
4
-
0.2
0.4
93
1
and
20
52
32
-
0.3
0.4
85
1
Comment
Ended in mineralisation
Ended in mineralisation
Ended in mineralisation
SAC0551
4
56
52
-
0.2
0.3
41
1
including
12
20
8
-
0.1
0.5
63
1
and
44
48
4
-
0.9
0.2
34
1
SAC0552
8
48
40
-
0.2
0.3
77
1
including
12
16
4
-
0.2
0.5
67
2
SAC0553
4
63
59
-
0.1
0.3
69
1
Ended in mineralisation
SAC0554
0
68
68
-
0.1
0.3
100
2
Ended in mineralisation
including
32
48
16
-
0.1
0.6
71
1
Hole
From
SDH006
59
Table 2
Section 9
2010-11 Season Diamond Drilling (Fire Assay Au, XRF Cu and Mo - SDH006)
Interim Diamond Core Results (XRF for Cu and Mo– SDH012)
Aueq*
To
Interval
Au g/t
Cu % Mo g/t
Ag g/t
g/t
117
58
0.4
0.2
123
NA
including
68
76
8
-
0.5
0.3
9
NA
and
84
95
11
1.2
0.5
0.3
252
NA
and
101
102
1
1.2
1.0
0.1
23
NA
and
114
117
3
2.1
0.8
0.3
846
NA
SDH012
125
135
10
-
Pending
0.2
258
Pending
SDH012
194
264
70
-
Pending
0.2
220
Pending
Ended in mineralisation
Comment
Ended in mineralisation
NA denotes not assayed for.
Page: 6
West African Resources Limited
Table 3
Section 11
Significant Results –Aircore 2010-11 Season (Fire Assay Au, XRF Cu and Mo)
To
Interval
Aueq* g/t
Au g/t
Cu %
Mo g/t
Ag g/t
Hole
From
SAC0256
36
64
28
-
0.4
0.2
45
NA
SAC0256
56
60
4
-
1.5
0.2
115
NA
SAC0257
48
52
4
-
1.2
0.1
60
NA
SAC0257
64
66
2
-
0.1
0.3
69
NA
SAC0258
28
60
32
-
0.2
0.4
46
NA
including
44
48
4
-
0.5
0.4
154
NA
and
52
56
4
-
0.2
0.5
37
NA
Comment
Ended in mineralisation
SAC0259
16
52
36
-
0.1
0.3
22
NA
including
12
16
4
-
0.0
0.9
8
NA
Ended in mineralisation
SAC0260
8
52
44
-
0.1
0.4
17
NA
Ended in mineralisation
SAC0261
16
39
23
-
0.1
0.4
28
NA
Ended in mineralisation
including
20
28
8
-
0.1
0.6
35
NA
SAC0262
16
44
28
-
0.2
0.2
25
NA
including
28
32
4
-
0.3
0.4
30
NA
SAC0263
8
40
32
-
0.2
0.7
14
NA
including
8
24
16
-
0.2
1.2
18
NA
SAC0264
4
20
16
-
0.1
0.5
6
NA
including
4
12
8
-
0.1
0.6
9
NA
SAC0265
20
24
4
-
0.4
0.3
22
NA
SAC0265
40
44
4
-
0.2
0.2
28
NA
SAC0280
44
46
2
-
0.2
0.3
100
NA
SAC0281
20
28
8
-
0.3
0.1
120
NA
SAC0287
20
25
5
-
0.7
0.0
127
NA
Table 4
Section 11
Interim Diamond Core Results (XRF for Cu and Mo SDH010 and SDH016)
Interval
Aueq* g/t
Au g/t
Cu %
Mo g/t
Ag g/t
Hole
From
To
SDH010
6
52
46
-
Pending
0.2
8
Pending
SDH010
63
66
3
-
Pending
0.2
59
Pending
SDH010
81
100
19
-
Pending
0.2
117
Pending
SDH010
110
111
1
-
Pending
0.2
11
Pending
SDH010
114
115
1
-
Pending
0.3
784
Pending
SDH010
123
124
1
-
Pending
0.2
197
Pending
SDH010
140
141
1
-
Pending
0.2
392
Pending
SDH010
145
171
26
-
Pending
0.2
112
Pending
SDH016
29
56
27
-
Pending
0.2
19
Pending
SDH016
68
72
4
-
Pending
0.2
31
Pending
SDH016
77
80
3
-
Pending
0.2
40
Pending
SDH016
88
89
1
-
Pending
0.6
292
Pending
SDH016
100
103
3
-
Pending
0.2
54
Pending
SDH016
112
150
38
-
Pending
0.2
196
Pending
Comment
Ended in mineralisation
Ended in mineralisation
Ended in mineralisation
Page: 7
West African Resources Limited
Table 5
Section 3
Significant Results – New Aircore (Fire Assay Au and ICP Cu Mo and Ag)
Interval
Aueq* g/t
Au g/t
Cu %
Mo g/t
Ag g/t
Hole
From
To
SAC0584
44
48
4
-
0.2
0.3
26
-
SAC0585
36
40
4
-
0.2
0.1
5
2
SAC0587
20
24
4
-
0.4
0.1
4
1
SAC0588
8
16
8
-
0.4
0.2
33
-
SAC0588
48
58
10
-
0.4
0.2
14
1
Ended in mineralisation
SAC0589
8
48
40
-
0.4
0.2
26
1
Ended in mineralisation
including
8
24
16
-
0.6
0.2
11
1
SAC0589
64
75
11
-
0.3
0.2
347
1
including
64
68
4
-
0.4
0.3
623
1
SAC0590
4
8
4
-
0.2
0.1
55
1
SAC0591
20
36
16
-
0.5
0.4
62
-
including
24
32
8
-
0.9
0.5
95
-
SAC0591
48
53
5
-
0.4
0.2
17
1
SAC0592
0
60
60
-
0.2
0.2
28
1
including
24
28
4
-
0.6
0.3
30
-
SAC0593
0
66
66
-
0.2
0.3
51
1
including
16
24
8
-
0.4
0.5
82
-
SAC0594
8
28
20
-
0.2
0.2
21
-
SAC0594
44
48
4
-
0.3
0.2
9
1
SAC0594
56
60
4
-
0.2
0.2
33
1
Hole
From
SDH008
5
Table 6
Section 3
Interim Diamond Core Results (XRF for Cu and Mo– SDH008 and SDH013)
Aueq* g/t
To
Interval
Au g/t
Cu %
Mo g/t
Ag g/t
19
14
Pending
0.2
19
Pending
SDH008
32
33
SDH008
SDH008
SDH008
41
61
72
51
64
73
1
-
Pending
0.2
24
Pending
10
-
Pending
0.2
87
Pending
3
-
Pending
0.2
64
Pending
1
-
Pending
0.2
74
Pending
SDH008
85
86
1
-
Pending
0.2
91
Pending
SDH008
92
96
4
-
Pending
0.2
128
Pending
SDH008
102
125
23
-
Pending
0.2
333
Pending
SDH008
135
145
10
-
Pending
0.2
252
Pending
1
-
Pending
0.2
3
Pending
1
-
Pending
0.2
166
Pending
3
-
Pending
0.2
160
Pending
SDH013
SDH013
SDH013
55
80
84
56
81
87
SDH013
99
139
40
-
Pending
0.1
301
Pending
SDH013
156
157
1
-
Pending
0.2
109
Pending
SDH013
166
167
1
-
Pending
0.3
236
Pending
SDH013
209
210
1
-
Pending
0.2
398
Pending
Comment
Ended in mineralisation
Ended in mineralisation
Ended in mineralisation
Comment
Ended in mineralisation
Page: 8
West African Resources Limited
Table 7
Section 3
2010-11 Season RC and Diamond Drilling (Fire Assay Au, XRF Cu and Mo)
To
Interval
Au eq* g/t Au g/t
Cu %
Mo g/t
Ag g/t
Hole
From
SRC0005
8
12
4
-
0.4
0.1
3
NA
SRC0006
9
18
9
-
0.4
0.2
16
NA
including
12
13
1
-
1.1
0.2
38
NA
SRC0006
29
49
20
-
0.4
0.2
10
NA
including
30
37
7
-
0.7
0.4
12
NA
SRC0006
58
70
12
-
0.3
0.1
79
NA
including
69
70
1
-
0.8
0.3
87
NA
SRC0006
78
86
8
0.6
0.3
0.2
20
NA
including
84
85
1
1.2
0.6
0.4
23
NA
SRC0007
12
40
28
-
0.3
0.2
28
NA
SRC0007
52
76
24
-
0.2
0.2
59
NA
SRC0007
116
120
4
0.8
0.2
0.2
247
NA
SRC0007
136
140
4
1.6
0.9
0.2
349
NA
SRC0008
44
96
52
-
0.3
0.2
47
NA
SRC0008
140
148
8
0.8
0.4
0.1
160
NA
SRC0008
160
162
2
1.5
1.4
0.1
30
NA
SDH003
4
23
19
-
0.2
0.2
43
NA
SDH003
30
31
1
-
0.7
0.2
61
NA
SDH003
36
41
5
-
0.3
0.1
50
NA
SDH003
46
47
1
-
0.2
0.3
64
NA
SDH003
51
52
1
-
0.4
0.2
7
NA
SDH003
58
59
1
-
0.2
0.3
476
NA
SDH003
62
63
1
-
0.3
0.1
329
NA
SDH003
68
69
1
-
0.3
0.2
61
NA
SDH003
74
98
24
0.9
0.3
0.2
214
NA
including
78
84
6
1.4
0.4
0.4
317
NA
and
90
91
1
2.1
1.2
0.3
433
NA
and
94
95
1
1.3
0.7
0.2
190
NA
SDH003
107
110
3
0.9
0.4
0.1
238
NA
SDH003
113
114
1
0.6
0.2
0.2
95
NA
SDH003
116
119
3
0.7
0.4
0.1
202
NA
SDH003
126
127
1
0.7
0.6
0.0
33
NA
SDH003
129
141
12
0.9
0.3
0.1
340
NA
including
140
141
1
1.9
0.2
0.6
715
NA
SDH005
25
75
50
-
0.4
0.2
36
NA
including
42
64
22
-
0.6
0.3
34
NA
SDH005
84
107
23
0.8
0.3
0.2
238
NA
including
84
85
1
1.8
0.7
0.3
718
NA
and
96
97
1
1.8
0.9
0.4
391
NA
and
104
105
1
2.0
0.7
0.5
472
NA
Comment
Ended in mineralisation
Page: 9
West African Resources Limited
Table 8
2012-13 Field Season
Aircore and Diamond Core Lab Sample Status
Batch Number
0001
0002
0003
0004
0005
0006
0007
0008
0009
0010
0011
0012
0013
0014
0015
0016
0017
0018
0019
0020
0021
0022
0023
0024
0025
0026
0027
0028
No. of
samples
193
189
197
188
191
192
198
182
189
197
191
232
189
233
192
192
185
189
175
116
197
281
321
194
266
213
305
219
Sample Type
Hole IDs
Status
Comment
Aircore
Aircore
Aircore
Aircore
Aircore
Aircore
Aircore
Aircore
Aircore
Aircore
Aircore
Drillcore
Aircore
Drillcore
Aircore
Aircore
Aircore
Aircore
Aircore
Drillcore
Aircore
Drillcore
Drillcore
Aircore
Drillcore
Drillcore
Drillcore
Drillcore
SAC0390-0403
SAC0500-0510
SAC0511-0522
SAC0523-0533
SAC0534-0543
SAC0404-0419
SAC0544-0554
SAC0555-0565
SAC0566-0577
SAC0578-0589
SAC0590-0602
SDH009
SAC0420-0432
SDH009
SAC0603-0615
SAC0433-0451
SAC0616-0627
SAC0628-0639
SAC0640-0650
SDH007
SAC0452-0469
SDH011
SDH012
SAC469-485
SDH015
SDH013
SDH014
SDH010
Reported
Reported
Reported
Reported
Reported
Pending
Reported
Reported
Pending
Reported
Reported
Reported
Pending
Reported
Pending
Pending
Pending
Pending
Pending
Pending
Pending
Pending
Pending
Pending
Pending
Pending
Pending
Pending
No Significant Results
ASX: 12/12/12
ASX: 12/12/12; ASX:5/12/12
ASX: 3/12/12
ASX: 12/12/12ASX: 19/12/12
ASX: 5/12/12
ASX: 19/12/12
ASX: 19/12/12
ASX:9/12/12
ASX:9/12/12
Priority samples
Priority samples
Priority samples
Priority samples
Priority samples
Priority samples
Priority samples
Page: 10
West African Resources Limited
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 made a major Au-CuMo discovery at the Sartenga Prospect 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 RCdiamond 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]
Page: 11
West African Resources Limited
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
Drill holes from SDH007 and SAC0390 onwards 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, Ag and Re at Bureau Veritas Laboratories in Perth. Holes
from SAC001 to SAC0389, SDH001 to SDH006 and SRC001 to SRC015 have been analysed by 50g Fire Assay at BIGS Laboratory
in Ouagadougou for gold, copper and molybdenum by XRF using an Innov-x DP4000 on pulverised sample 90%p 75um. 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 1.71 + 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)
Page: 12
West African Resources Limited
Technical Terms
Ag
Aircore Drilling
Au
Auger Drilling
Cu
Diamond Drilling (DD)
g/t
ICP
MAD
Mo
MS
OES
ppb
ppm
RAB Drilling
RC Drilling
Re
Rhenium
XRF
Chemical symbol for silver.
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.
Chemical symbol for gold.
A drilling method in which the sample is brought to the surface via a helical or spiral rods.
Chemical symbol for copper.
A rotary drilling method with diamond impregnated bits to produce a solid, continuous core
sample of the rock.
grams per tonne.
Inductively Coupled Plasma (ICP)
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.
Chemical symbol for molybdenum.
Mass Spectrometry
Optical Emission Spectrometry
parts per billion, e.g. 1000 ppb Au equals 1 ppm Au, or 1 g/t Au.
parts per million, equivalent to g/t.
Rotary Air Blast drilling. A drilling method in which the sample is brought to the surface outside of
the drill rods using compressed air.
Reverse Circulation drilling. A drilling method in which the sample is brought to the surface inside
the drill rods using compressed air, reducing contamination.
Chemical symbol for 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.
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.
Page: 13