EXPLORATION & DEVELOPMENT

More high grade WAF gold

New Tanlouka resources due this quarter

Michael Quinn

This article is 8 years old. Images might not display.

At the M1 prospect the junior hit 1m at 1107 grams per tonne gold from 107m depth and 3m at 146gpt from 125m within a broader interval put at 18m at 82.3gpt from 98m.

West African Resources (WAF) made the point that geological indicators suggest the likelihood of gold mineralisation persisting at depth.

A maiden resource estimate for M1 is expected during the current quarter (as is one for another prospect M3), while an updated resource for the M5 deposit has also been flagged.

A feasibility study is investigating a conventional CIL mine development incorporating the combination of high grade M1 mineralisation with the predominantly oxide mineralisation from M5.

Prior to the emergence of M1 in the second half of 2015, WAF had been looking at developing a heap leach operation.

Shares in WAF closed Friday unchanged at A22c, capitalising the company at $90 million.

The junior recently raised $12.5 million by issuing new shares 12.5c, with the stock at 5c at the end of March.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.