West African Resources Limited
ACN 121 539 375
Principal Office:
Unit 14, 531 Hay Street
Subiaco WA 6008
Western Australia
For personal use only
Phone:
Fax:
Email:
Web:
+ 61 8 9481 7344
+ 61 8 9481 7355
[email protected]
www.westafricanresources.com
ASX ANNOUNCEMENT
Monday 25
t h
February2013
Primary gold-copper-molybdenum +150m wide on SW0400
Result 400m southwest of Discovery Section 7
+500 metres potential width at depth
Managing Director Richard Hyde said: “Latest drilling, 400m southwest of the discovery line, has
intercepted very wide copper-gold zones confirming primary mineralisation is at least 150m wide on
section SW0400 with potential during the current drilling program to expand mineralisation on section
to more than 500m width beneath existing shallow oxide drilling.”
SDH008: 53m at 0.5% Cueq* from 92m
(0.9g/t Aueq*, 0.3g/t Au, 0.2% Cu and 233g/t Mo)
including 1m at 0.8% Cueq* from 102m
(1.4g/t Aueq*, 0.4g/t Au, 0.2% Cu and 729g/t Mo)
and 7m at 0.9% Cueq* from 111m
(1.6g/t Aueq*, 0.5g/t Au, 0.3% Cu and 546g/t Mo)
and 5m at 0.7% Cueq* from 139m
(1.3g/t Aueq*, 0.5g/t Au, 0.3% Cu and 329g/t Mo)
SDH013: including: 24m at 0.5% Cueq* from 96m
(0.9g/t Aueq*, 0.3g/t Au, 0.2% Cu and 369g/t Mo)
and: 1m at 1.9% Cueq* from 101m
(0.2g/t Au, 0.1% Cu and 3,070g/t Mo)
and: 6m at 0.8% Cueq* from 109m
(1.4g/t Aueq*,0.5g/t Au, 0.3% Cu and 466g/t Mo)
and: 1m at 0.9% Cueq* from 119m
(1.5g/t Aueq*,0.9g/t Au, 0.2% Cu and 326g/t Mo)
1,500m of drill core and 7,000m aircore in Perth laboratory
Continuous drilling and news flow in 2013
Maiden Resource in June 2013
Page: 1
West African Resources Limited
For personal use only
West African Resources Limited (ASX: WAF) is pleased to report further assay results from diamond
drilling at its 100%-owned Sartenga copper-gold discovery, part of the Boulsa Project, in Burkina Faso.
Strong copper, gold and molybdenum results have been returned from diamond drilling on section
SW0400, 400m southwest of the discovery line (Figure 1). Results on SW0400 confirms copper-goldmolybdenum mineralisation is at least 150m wide at 150m vertical metres depth, with the current
drilling program designed to test more than 500m of potential mineralisation across strike (width).
Holes SDH008 and SDH013 on SW0400 returned peak grades of 1.1g/t Au, 0.8% and Cu 3,070 g/t Mo.
SDH008 returned significant results from strongly sheared and altered diorite with best results including
53m at 0.5% Cueq* (0.9g/t Aueq*, 0.3g/t Au, 0.2% Cu and 233g/t Mo) from 92m, including 7m at 0.9%
Cueq* (1.6g/t Aueq* , 0.5g/t Au, 0.3% Cu and 546g/t Mo) from 111m and 5m at 0.7% Cueq* (1.3g/t
Aueq*, 0.5g/t Au, 0.3% Cu and 329g/t Mo) from 139m. SDH008 intercepted over 50m of >0.5 Cueq*
mineralisation.
Strong mineralisation has been intercepted on the south-eastern breccia contact with SDH013
returning 24m at 0.5% Cueq* (0.9g/t Aueq*, 0.3g/t Au, 0.2% Cu and 369g/t Mo) from 96m which
included a higher grade zone of 6m at 0.8% Cueq* (1.4g/t Aueq*, 0.5g/t Au, 0.3% Cu and 466g/t Mo).
This zone dips moderately to the southeast and has now been intercepted over at least 1km along the
south-eastern margin of the Sartenga Main Zone. SDH013 intercepted over 40m of >0.5
Cueq*mineralisation.
Figure 1: Sartenga Main Zone Cross-Section SW0400
Showing Selected Drillhole Intercepts and Planned RC and Diamond Drilling (in progress)
Page: 2
For personal use only
West African Resources Limited
Figure 2: Sartenga Main Zone Drill Plan
Showing Selected Drillhole Intercepts and Planned RC and Diamond Drilling (in progress)
SDH008 and SDH013 will be followed-up during the current 10,000m RC and diamond drilling program
which commenced last week (ASX: 19/02/13). Planned drillholes are shown as dashed traces on Figures
1 and 2. Full results for SDH008 and SDH013 at 0.7% Cueq*, 0.5% Cueq* and 0.3% Cueq* cut offs are
presented in Tables 1, 2 and 3. Selected results at 0.5% Cueq* from previously reported results are
presented in Table 4.
Background information regarding assaying and compositing of drilling results, and gold and copper
equivalent calculations is presented at the end of this announcement. So far this season at Sartenga 17
deep RC and diamond holes have been drilled for 3,500m covering 1.2km of strike (Figure 1). More than
22,000m of aircore drilling at 100m spacing in the main zone, and on 200m sections on the southwest
and northeast extensions have been completed. Pending assays are shown in Table 5. Results for
further deep diamond core are imminent and will be reported as soon as they are received and
interpreted by the Company.
Page: 3
West African Resources Limited
For personal use only
Hole
SDH008
SDH008
SDH008
SDH008
SDH008
SDH013
SDH013
SDH013
SDH013
SDH013
SDH013
SDH013
SDH013
Hole
SDH008
SDH008
SDH008
SDH008
SDH008
SDH008
SDH008
SDH008
SDH013
SDH013
SDH013
SDH013
SDH013
SDH013
SDH013
SDH013
SDH013
SDH013
Hole
SDH008
SDH008
SDH008
SDH008
SDH008
SDH008
SDH008
SDH013
SDH013
SDH013
From
12
61
102
111
139
101
109
119
134
136
151
166
173
From
12
45
61
71
92
95
100
135
84
96
127
134
142
151
166
173
206
209
From
4
32
40
61
69
84
92
80
96
205
To
13
62
103
118
144
102
115
120
135
137
152
167
174
To
17
50
62
72
93
96
127
144
87
120
130
139
143
152
167
177
207
210
To
19
33
52
64
72
86
145
88
193
213
Int
1
1
1
7
5
1
6
1
1
1
1
1
1
Int
5
5
1
1
1
1
27
9
3
24
3
5
1
1
1
4
1
1
Int
15
1
12
3
3
2
53
8
97
8
Aueq* g/t
1.4
1.6
1.3
3.2
1.4
1.5
1.3
1.5
1.2
1.4
2.8
Table 1
Significant Results 0.7% Cueq* Cut Off
SDH008 and SDH013 SW0400
Cueq* % Au g/t Cu % Mo g/t
North
1.0
0.2
22
1408748
0.7
0.4
23
0.8
0.4
0.2
729
0.9
0.5
0.3
546
0.7
0.5
0.3
329
1.9
0.2
0.1
3070
1408675
0.8
0.5
0.3
466
0.9
0.9
0.2
326
0.8
0.3
0.2
756
0.9
0.5
0.2
657
0.7
1.1
0.1
29
0.8
0.5
0.4
241
1.6
0.5
0.2
2180
Aueq* g/t
0.9
1.0
1.0
0.9
1.1
0.9
0.9
0.9
1.0
0.9
1.2
1.4
1.2
1.1
0.9
Table 2
Significant Results 0.5% Cueq* Cut Off
SDH008 and SDH013 SW0400
Cueq* % Au g/t Cu % Mo g/t
North
0.5
0.3
24
1408748
0.3
0.3
105
0.7
0.4
23
0.5
0.3
0.2
333
0.6
0.2
0.4
209
0.6
0.5
0.2
115
0.5
0.3
0.2
299
0.6
0.4
0.2
249
0.5
0.4
0.2
166
1408675
0.5
0.3
0.2
369
0.5
0.4
0.2
241
0.6
0.3
0.2
520
0.5
0.6
0.1
134
0.7
1.1
0.1
29
0.8
0.5
0.4
241
0.7
0.4
0.1
639
0.7
0.1
0.0
1040
0.5
0.2
0.2
388
Aueq* g/t
0.6
0.6
0.9
0.6
0.6
0.7
Table 3
Significant Results 0.3% Cueq* Cut Off
SDH008 and SDH013 SW0400
Cueq* % Au g/t Cu % Mo g/t
North
0.3
0.2
45
1408748
0.2
0.2
23
0.3
0.2
89
0.3
0.2
64
0.4
0.2
0.1
260
0.4
0.2
0.2
94
0.5
0.3
0.2
233
0.4
0.3
0.1
114
1408675
0.4
0.2
0.1
233
0.4
0.1
0.1
371
East
741931
RL
341
Dip
-60
Azi
315.0
TDepth
150
Section
SW0400
741989
340
-60
315.0
217
SW0400
East
741931
RL
341
Dip
-60
Azi
315.0
TDepth
150
Section
SW0400
741989
340
-60
315.0
217
SW0400
East
741931
RL
341
Dip
-60
Azi
315.0
TDepth
150
Section
SW0400
741989
340
-60
315.0
217
SW0400
Page: 4
West African Resources Limited
For personal use only
Hole
SAC0060
SAC0063
SAC0064
SAC0064
SAC0067
SAC0069
SAC0075
SAC0076
SAC0078
SAC0079
SAC0079
SAC0079
SAC0080
SAC0081
SAC0082
SAC0368
SAC0588
SAC0589
SAC0589
SAC0591
SAC0592
SAC0592
SAC0593
SDH003
SDH003
SDH003
SDH003
SDH003
SDH003
SDH003
SDH003
SDH003
SDH003
SDH003
SDH005
SDH005
SDH005
SDH005
SDH005
SDH005
SDH005
SDH005
SRC0006
SRC0006
SRC0006
SRC0006
SRC0007
SRC0007
SRC0007
SRC0008
From
48
32
12
28
28
16
16
16
16
12
32
56
40
32
4
8
48
8
64
24
24
40
16
8
15
30
51
58
62
73
116
118
129
134
27
29
42
74
79
82
90
96
12
30
69
84
20
28
136
160
To
55
40
16
32
32
20
24
35
28
16
40
59
44
61
16
16
52
28
68
32
28
44
44
9
16
31
52
59
63
110
117
119
132
141
28
30
64
75
80
87
91
107
14
37
70
85
24
32
140
162
Int
7
8
4
4
4
4
8
19
12
4
8
3
4
29
12
8
4
20
4
8
4
4
28
1
1
1
1
1
1
37
1
1
3
7
1
1
22
1
1
5
1
11
2
7
1
1
4
4
4
2
Aueq* g/t
0.9
0.9
1.0
0.9
1.1
1.0
1.8
1.0
1.1
1.1
1.1
1.3
1.3
1.1
0.9
0.9
1.2
1.5
Table 4
Previously Reported Significant Results
0.5% Cueq* Cut Off SW0400
Cueq* %
Au g/t
Cu %
Mo g/t
North
0.1
0.4
16
1409067
0.3
1.1
34
1409031
0.4
0.2
72
1409012
0.1
0.5
27
0.1
0.4
19
1408971
0.1
0.3
11
1408929
0.3
0.3
31
1408829
0.3
0.3
47
1408815
0.4
0.2
16
1408793
0.4
0.2
59
1408778
0.2
0.3
38
1.5
0.3
127
0.6
0.2
27
1408759
0.6
0.3
43
1408743
0.6
0.3
30
1408721
0.6
0.2
15
1408706
0.6
0.2
6
1408690
0.6
0.2
11
1408704
0.4
0.3
623
0.9
0.5
95
1408752
0.6
0.3
30
1408770
0.5
0.2
5
0.3
0.3
56
1408796
0.5
0.2
58
1408768
0.5
0.2
49
0.7
0.2
61
0.4
0.2
7
0.2
0.2
476
0.3
0.1
329
0.5
0.3
0.2
233
0.5
0.4
0.1
239
0.6
0.5
0.1
330
0.5
0.4
0.1
348
0.6
0.3
0.2
377
0.4
0.2
23
1408706
0.5
0.2
6
0.6
0.2
34
0.6
0.4
0.1
403
1.0
0.0
0.1
1683
0.6
0.4
0.1
304
0.6
0.4
0.2
360
0.6
0.4
0.2
279
0.7
0.8
0.2
24
1408744
0.7
0.7
0.3
12
0.8
0.8
0.3
87
0.6
0.6
0.3
23
0.5
0.5
0.2
12
1408798
0.5
0.5
0.2
33
0.7
0.9
0.2
349
0.9
1.4
0.1
30
1408858
East
741606
741643
741663
RL
346
346
346
Dip
-60
-60
-60
Azi
135.0
135.0
135.0
TDepth
55
60
50
741704
741742
741844
741855
741879
741893
344
344
343
340
340
340
-60
-60
-60
-60
-60
-60
135.0
135.0
135.0
135.0
135.0
135.0
60
58
39
35
42
59
741914
741929
741949
741961
741972
741952
341
341
340
340
340
340
-60
-60
-60
-60
-60
-60
135.0
135.0
135.0
315.0
315.0
315.0
44
61
44
24
58
75
741913
741894
341
340
-60
-60
315.0
315.0
53
60
741881
741908
340
340
-60
-60
315.0
135.0
66
147
741961
340
-60
315.0
120
741928
341
-55
135.0
162
741877
340
-55
135.0
156
741829
343
-55
135.0
162
Page: 5
Section
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
SW0400
West African Resources Limited
Table 5
2012-13 Field Season
Sample Status
For personal use only
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
0029
0030
0031
0032
0033
0034
0035
0036
0037
0038
0039
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
192
149
208
202
214
213
212
208
187
113
239
Sample Type
Hole IDs
Status
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
Drillcore
Drillcore
Aircore
Aircore
Aircore
Aircore
Aircore
Aircore
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
SDH008
SDH016
SAC0486-0499; 0651-0654
SAC0655-0675
SAC0676-0694
SAC0695-0713
SAC0714-0737
SAC0738-0754
SDH017
SDH018
SAC0755-0783
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Reported
Pending
Pending
Reported
Pending
Reported
Pending
Pending
Pending
Pending
Pending
Pending
Pending
Pending
Comment
Priority
Priority
Priority
Priority
Priority
Page: 6
West African Resources Limited
For personal use only
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 AuCu-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 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]
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 0.3g/t Cueq*,0.5 g/t Cueq* and 0.7Cueq* lower cut offs, and not more than 8m of internal dilution, unless
otherwise stated. For oxide intercepts, Cueq* has only been used as a guide for compositing results. All results are reported as
down hole 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.
Copper/Gold Equivalent Calculations (Cu eq* and Au eq*)
The copper or gold equivalent calculation represents total metal value for each metal, summed and expressed in equivalent per
cent copper or grams per tonne gold. 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. As Sartenga is still at an early stage
of development, ratios between gold and copper are variable in different parts of the system, therefore the Company considers
it appropriate to report exploration results in both copper and/or gold equivalents depending on the dominant metal. At the
time of reporting copper and 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 report individual metal results for
oxide intercepts until preliminary test work has been completed.
Copper equivalent conversion factors and long-term price assumptions used are as follows:
Copper Equivalent Formula= Cu % + Au g/t x 0.58 + Mo g/t x 0.0005 + Ag x0.015
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 x0.025
Price Assumptions- Au (US$1200/oz) Cu (US$3/lb) Mo (US$15/lb) Ag (US$30/oz)
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West African Resources Limited
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Technical Terms
Ag
Aircore Drilling
Au
Auger Drilling
Cu
Diamond Drilling (DD)
g/t
ICP
Induced Polarisation
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)
Induced polarization (IP) is a geophysical imaging technique used to identify subsurface materials,
such as ore. An electric current is induced into the subsurface through two electrodes, and
voltage is monitored through two or more other electrodes.
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.
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