AUS
NZ
UK
CA
USA
IND
West African Resources Ltd (ASX:WAF) has announced a significant intercept of 22 meters at 7.6 grams per tonne (g/t) of gold from its maiden grade control drilling at the Kiaka South pit, part of the broader Kiaka Gold Project in Burkina Faso. This new pit, located 700 meters from the Kiaka Main pit, is anticipated to provide high-grade mill feed within the project's first 18 months of production.
The drilling results from the central portion of Kiaka South have exceeded expectations, revealing thick zones of high-grade mineralisation near the surface. Noteworthy intercepts include:
- 22 meters at 7.6 g/t gold
- 26 meters at 5.8 g/t gold
- 26 meters at 5.6 g/t gold
- 28 meters at 4.8 g/t gold
To date, 975 grade control holes have been drilled at the project, totaling 27,559 meters at an average depth of 28 meters.
Richard Hyde, Executive Chairman of West African Resources, expressed satisfaction with the results, noting that the 7.6 g/t intercept over 22 meters was an unexpected but welcome discovery.
“Results from the central portion of Kiaka South have surpassed our expectations, showing higher grades closer to the surface compared to our current resource model,” Hyde commented.
The technical team at WAF is focused on optimizing the shape of the Kiaka South open pit to enhance grade and reduce the strip ratio before mining begins in Q1 2025. West African Resources is on track to produce 4 million ounces of gold over the next decade, with annual production projected to peak at 473,000 ounces in 2029. The company's unhedged resources now total 12.8 million ounces, with Ore Reserves at 6.1 million ounces.
West African Resources shares are currently trading at $1.33.
