West African Resources Ltd (ASX:WAF) Reports High-Grade Gold Intercepts at M1 South Deeps in Burkina Faso

1 min read | August 20, 2024 10:18 AM AEST | By Team Kalkine Media

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West African Resources Ltd (ASX:WAF) Reports High-Grade Gold Intercepts at M1 South Deeps in Burkina Faso — Image source: shutterstock

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West African Resources Ltd (ASX:WAF) has identified a significant gold intercept from its infill diamond drilling program at the M1 South Deeps resource in Burkina Faso. The new data reveals high-grade mineralisation with continuous results, confirming the deposit's geometry.

Key intercepts from the drilling include:

- 45 metres at 7.3 grams per tonne (g/t) of gold

- 16 metres at 8.3 g/t

- 23 metres at 5.5 g/t

- 20.5 metres at 5.5 g/t

The company is advancing its drilling efforts at M1 South Deeps, part of the broader Sanbrado Gold Operations, with an updated mineral resource estimate (MRE) and ore reserves scheduled for release in Q1 2025.

Executive Chairman Richard Hyde expressed satisfaction with the results, noting that the high-grade intercepts validate the resource model and support plans to extend mining beneath the existing M1 South Ore Reserves.

West African Resources aims to produce 4 million ounces of gold over the next decade, with annual production expected to peak at 473,000 ounces in 2029. The company's unhedged resources are now estimated at 12.8 million ounces, with ore reserves totaling 6.1 million ounces.

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