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Goldman Thick Zones of Gold Mineralisation Confirm Resource Model
West African Resources Limited (ASX:WAF) has announced results from its maiden grade control drilling program at the Kiaka Gold Project in Burkina Faso.
Highlights:
- Thick zones of gold mineralisation intercepted in grade control drilling at Kiaka.
- Significant results include (all holes end in mineralisation):
- 30m at 4.1g/t gold
- 29m at 2.6g/t gold
- 31m at 2.0g/t gold
- 32m at 1.9g/t gold
- 30m at 1.9g/t gold
- 28m at 2.0g/t gold
- Drilling confirms gold mineralisation between 130m and 185m wide from surface.
- Results support Kiaka Main Stage 1 open-pit strip ratio of 0.8:1 (waste).
- Resource grades within the initial grade control area confirmed.
- Pre-production grade control drilling on schedule and budget to support first mining in Q1 2025.
West African Executive Chairman Richard Hyde commented:
Maiden RC grade control drilling at Kiaka has returned thick zones of near-surface gold mineralisation including 30m at 4.1g/t gold and 29m at 2.6g/t gold. Results confirm WAF’s geological model with gold mineralisation 130m to 185m wide near surface.
Drilling results also support the low strip ratio of 0.8 to 1 (waste to ore) of the Kiaka Main – Stage 1 open-pit and significantly de-risks the early production plan with owner-mining on-track to commence in Q1 2025.
Supply and logistics of the owner-mining fleet is progressing to plan, with some equipment ready to ship and first arrivals expected on site late 2024. Kiaka construction is also progressing on time and on budget, with first gold production expected in Q3 2025.
WAF is on track to produce 4 million ounces over the next decade, with annual production set to peak in 2029 at 473,000 ounces of gold. Our unhedged resources now stand at 12.8 million ounces and Ore Reserves at 6.1Moz of gold.
