Awale Resources Reports First Assay Results from Deeper Drilling at BBM Gold-Copper Deposit; Shares up 13.5%
Awale Resources' (ARIC.V) first assay results from deeper drilling at the BBM gold-copper deposit at the Odienne Project, Cote d'Ivoire, confirmed that BBM's "high-grade" core continues below the current open pit Mineral Resource, it said Monday.The first two holes of a twelve-hole program drilled below and beyond the open pit Mineral Resource, intersected "strong" gold mineralization, returning 7m at 7.21 grams per tonne of gold equivalent from 385 meters downhole and 46 meters at 2.35 g/t gold equivalent from 364 meters downhole, added Awale.The company expects the results from the remaining ten holes over the coming weeks, it said."The first holes below the open pit hit where we expected and returned the highest gold grade drilled at the deposit to date," said Chief Executive Officer Andrew Chubb. "This tells us the high-grade core continues at depth and reinforces our belief that the system has more to give. With ten more holes from this program at the lab, we look forward to showing shareholders how BBM grows from here."The company's shares were last seen up C$0.10, or 14%, to C$0.84 on the TSX Venture Exchange.Price: $0.84, Change: $+0.10, Percent Change: +13.51%
