HIGHLIGHTS
- New +5 km gold-in-termitaria footprint identified, extending the Fremen target southward
- Potential for standalone discoveries on 100%-owned Awalé properties
- Additional scout drilling set to begin in June
- Drilling confirms near-surface mineralization along strike from BBM discovery
- Confirming significant gold-mineralized trend stretching +10 km within 100%-owned ground
Toronto, Ontario--(Newsfile Corp. - June 16, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to report a 5-kilometre ("km") extension of the Fremen target, based on results from termite mound sampling. In addition, gold assay results from recent scout drilling confirms mineralization along the same structural trend as the BBM discovery. The significant extension, along with positive drilling results, confirms a significant gold-mineralized trend stretching over 10 kilometres within Awalé's 100%-owned ground, from the BBM discovery.
Additional Drilling on Fremen Set to Begin
Further scout drilling is planned for June, ahead of the seasonal rains. This program consists of a 1,200-metre reverse circulation ("RC") scout drilling campaign to test the newly defined +5-kilometre gold-in-termitaria anomaly. Follow-up diamond drilling is scheduled for October 2025. An aeromagnetic survey will also be completed in June, covering the three granted 100%-owned Awalé permits: Sienso, Sama, and Seydou. These activities, along with upcoming results from BBM satellite targets, Charger deep drilling, and Lando, are expected to generate a steady stream of news flow from Awalé.
"Fremen is the first of our 100%-owned targets in what is emerging as a new gold and copper district in Côte d'Ivoire. Located along strike from the BBM discovery, Awalé has now extended the Fremen footprint to 10 kilometres with termite mound sampling. This demonstrates the potential of the Odienné Project to deliver standalone discoveries within our 100% ground. This is further reinforced by Fortuna Mining's recent equity investment, which will fund the advancement of our 100%-owned properties as we aggressively expand exploration across the greater Odienné district. Given the scale of mineralization and ongoing discoveries, the Project's center of gravity may ultimately reside within our wholly owned ground," commented Andrew Chubb, CEO of Awalé Resources.
Video of CEO Andrew Chubb Discussing Results
Background on Termite Mound Programs and Drilling
The 400m x 50m termitaria sampling grid consisting of 1,404 samples covered the southern extension of the Fremen drill zone to the permit boundary. Results from this program have outlined a consistent, 5-km-long gold-in-termitaria anomaly, averaging above 14 parts per billion ("ppb") gold with a peak value of 119 ppb. The anomaly curves around an intrusive contact to the east in a structural setting similar to BBM. The scout RC drill program consisted of 2,230-metres across 24 holes at the 100%-owned Fremen target. Gold mineralization intercepted is associated with alteration and shearing, similar to the BBM discovery and represent significant early-stage intercepts over broad intervals coincident with the interpreted extension of the structure that hosts the BBM discovery. Some selected intercepts from the Fremen target scout drilling include:
- 15m @ 0.6 g/t gold from 40m downhole in hole SSRC-20, including 7m @ 1.1 g/t gold from 46m downhole,
- 8m @ 0.5 g/t gold from 100m downhole in hole SSRC-02,
- 8m @ 0.7 g/t gold from 78m downhole in hole SSRC-03.
Turaco Option Exercise
Following the successful renewal of the Sienso exploration permit ("PR-840") for an additional three-year term—and with all other conditions of the agreement now satisfied—Awalé has elected to exercise its exclusive option to acquire a 100% interest in the Sienso permit from Turaco Gold Limited ("Turaco").
The Sienso permit represents an important part of the Odienné Project area, which Awalé is actively advancing through a district-scale exploration program targeting gold-copper mineral systems.
Pursuant to the agreement, Awalé will issue 680,715 common shares to Turaco. These shares will be subject to a 12-month escrow from the date of issuance. Upon completion of the share issuance, Awalé will hold a 100% interest in the Sienso permit, subject to an existing 2.5% net smelter return (NSR) royalty in favour of Resolute Mining Ltd.
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d'Ivoire, where the Company is exploring the Odienné Copper-Gold Project ("Odienné" or the "Project"), covering 2,346 km2 across seven permits—five granted and two applications. This includes 797 km2 in two permits held under the Awalé-Newmont Joint Venture ("OJV"). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited ("Newmont").
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum mineralized systems within the OJV and has recently commenced exploration on its 100%-owned properties.
The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well-seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Table 1: Significant Intercepts - (from this release)
| Drill Line | Hole ID | From (m) |
To (m) |
Length (m) |
Au (g/t) |
Comp. Trigger (g/t) |
| P2 | SSRC0001 | 37.00 | 47.00 | 10.00 | 0.2 | 0.10 |
| including | 41.00 | 46.00 | 5.00 | 0.4 | 0.20 | |
| SSRC0001 | 60.00 | 77.00 | 17.00 | 0.1 | 0.10 | |
| including | 66.00 | 70.00 | 4.00 | 0.2 | 0.20 | |
| and | 73.00 | 74.00 | 1.00 | 0.3 | 0.20 | |
| 105.00 | 106.00 | 1.00 | 0.9 | 0.20 | ||
| 110.00 | 112.00 | 2.00 | 0.4 | 0.20 | ||
| P2 | SSRC0002 | 1.00 | 27.00 | 26.00 | 0.2 | 0.10 |
| including | 4.00 | 9.00 | 5.00 | 0.3 | 0.20 | |
| and | 13.00 | 19.00 | 6.00 | 0.2 | 0.20 | |
| 31.00 | 32.00 | 1.00 | 0.3 | 0.20 | ||
| 44.00 | 50.00 | 6.00 | 0.2 | 0.10 | ||
| including | 44.00 | 47.00 | 3.00 | 0.2 | 0.20 | |
| 71.00 | 72.00 | 1.00 | 0.2 | 0.20 | ||
| 97.00 | 108.00 | 11.00 | 0.4 | 0.10 | ||
| including | 100.00 | 108.00 | 8.00 | 0.5 | 0.20 | |
| 121.00 | 128.00 | 7.00 | 0.4 | 0.20 | ||
| P2 | SSRC0003 | 29.00 | 30.00 | 1.00 | 0.4 | 0.20 |
| 75.00 | 87.00 | 12.00 | 0.5 | 0.10 | ||
| including | 78.00 | 86.00 | 8.00 | 0.7 | 0.20 | |
| and | 83.00 | 84.00 | 1.00 | 2.8 | 1.00 | |
| P2 | SSRC0004 | 39.00 | 40.00 | 1.00 | 0.2 | 0.20 |
| P1 | SSRC0008 | 74.00 | 75.00 | 1.00 | 0.3 | 0.20 |
| P1 | SSRC0010 | 74.00 | 79.00 | 5.00 | 0.3 | 0.20 |
| 84.00 | 85.00 | 1.00 | 0.3 | 0.20 | ||
| P3 | SSRC0019 | 22.00 | 23.00 | 1.00 | 0.4 | 0.20 |
| P3 | SSRC0020 | 13.00 | 36.00 | 23.00 | 0.1 | 0.10 |
| 40.00 | 55.00 | 15.00 | 0.6 | 0.10 | ||
| including | 46.00 | 53.00 | 7.00 | 1.1 | 0.50 | |
| P3 | SSRC0021 | 1.00 | 6.00 | 5.00 | 0.3 | 0.20 |
| P3 | SSRC0023 | 54.00 | 55.00 | 1.00 | 0.3 | 0.20 |
| 61.00 | 69.00 | 8.00 | 0.2 | 0.10 | ||
| including | 61.00 | 65.00 | 4.00 | 0.2 | 0.20 | |
| 82.00 | 95.00 | 13.00 | 0.2 | 0.10 | ||
| including | 84.00 | 90.00 | 6.00 | 0.4 | 0.20 | |
| P2 | SSRC0024 | 12.00 | 28.00 | 16.00 | 0.2 | 0.10 |
| including | 12.00 | 22.00 | 10.00 | 0.3 | 0.20 | |
| SSRC0024 | 108.00 | 113.00 | 5.00 | 0.4 | 0.10 | |
| including | 108.00 | 111.00 | 3.00 | 0.6 | 0.20 |
Table 2: Fremen Drilling Collar Cable - (all collars from this program)
| Hole ID | Easting | Northing | RL_M | Azim_True | Dip | Depth (m) |
| SSRC0001 | 659054.2 | 1042583.2 | 438.9 | 65 | -50 | 126 |
| SSRC0002 | 659097.9 | 1042597.6 | 439.8 | 65 | -50 | 144 |
| SSRC0003 | 659175.6 | 1042639.2 | 439.9 | 65 | -50 | 108 |
| SSRC0004 | 659237.8 | 1042664.8 | 438.8 | 65 | -50 | 84 |
| SSRC0005 | 659282.6 | 1042687.1 | 438.0 | 65 | -50 | 80 |
| SSRC0006 | 659283.4 | 1042460.7 | 442.7 | 245 | -50 | 96 |
| SSRC0007 | 659229.5 | 1042439.6 | 442.2 | 245 | -50 | 96 |
| SSRC0008 | 659187.4 | 1042419.3 | 441.5 | 245 | -50 | 90 |
| SSRC0009 | 659145.5 | 1042400.1 | 440.5 | 245 | -50 | 102 |
| SSRC0010 | 659103.5 | 1042382.7 | 439.4 | 245 | -50 | 90 |
| SSRC0011 | 659065.5 | 1042357.1 | 438.0 | 245 | -50 | 84 |
| SSRC0012 | 659023.5 | 1042338.5 | 436.9 | 245 | -50 | 90 |
| SSRC0013 | 659423.4 | 1043258.1 | 435.4 | 73 | -50 | 80 |
| SSRC0014 | 659466.6 | 1043271.4 | 434.2 | 73 | -50 | 80 |
| SSRC0015 | 659510.9 | 1043285.1 | 433.1 | 73 | -50 | 80 |
| SSRC0016 | 659552.6 | 1043302.1 | 431.9 | 73 | -50 | 80 |
| SSRC0017 | 659596.8 | 1043315.3 | 430.9 | 73 | -50 | 90 |
| SSRC0018 | 658086.5 | 1044831.5 | 429.1 | 62 | -50 | 90 |
| SSRC0019 | 658128.1 | 1044852.9 | 428.8 | 62 | -50 | 80 |
| SSRC0020 | 658169.0 | 1044873.7 | 428.8 | 62 | -50 | 84 |
| SSRC0021 | 658208.0 | 1044897.5 | 429.0 | 62 | -50 | 80 |
| SSRC0022 | 658248.4 | 1044918.8 | 429.1 | 62 | -50 | 80 |
| SSRC0023 | 659023.0 | 1042574.0 | 432.0 | 65 | -50 | 96 |
| SSRC0024 | 659139.0 | 1042625.0 | 452.0 | 65 | -50 | 120 |
Quality Control and Assurance
RC sampling was conducted on a metre-by-metre basis, with each metre weighed and riffle split to produce approximately 3 kg sub-samples for laboratory submission. Each sample was clearly labelled, and routine field duplicate samples were taken via a second riffle split of the original sample. Systematic certified reference material is also inserted in the sample stream as well as blank samples.
Termite mound geochemistry samples are taken from multiple (minimum 3) 20 to 50cm cores pierced into the mound. Routine duplicate samples are collected on site as well as insertion of reference materials and blanks.
Analytical work for all samples is being carried out at the independent ALS Laboratories in Ghana and Ireland, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags until collected by ALS from the Company's secure Odienné office and transported by ALS to their preparation laboratory in Yamoussoukro, Côte d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to ALS Ghana for fire assay and a second to Ireland where the sample is analyzed by 52 element ICP/MS with a 4-Acid digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.
Mineralized Interval Calculations
Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the Fremen target, initial mineralized zones are calculated at a 0.1 g/t Au trigger and include up to 3 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 0.2 g/t, 0.5 g/t and 1 g/t Au trigger values, with up to 3 metres of internal waste. Table 1 contains a list of all Fremen holes reported in this release. True widths are unknown from this early stage percussion RC drill program.
Qualified Person
The technical and scientific information contained in this news release has been reviewed and approved for release by Andrew Chubb, the Company's Qualified Person as defined by National Instrument 43-101. Mr. Chubb is the Company's Chief Executive Officer and holds an Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic Geoscientists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.
Abbreviations Used in this Release
| Au | Gold |
| Cu | Copper |
| g/t | Grams per tonne |
| kg | Kilogram |
| km | Kilometre |
| m | Metre |
| ppb | Parts per billion |
AWALÉ Resources Limited
On behalf of the Board of Directors
"Andrew Chubb"
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
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Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
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The Company's public documents may be accessed at www.sedarplus.ca. For further information on the Company, please visit our website at www.awaleresources.com.
Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
