September 2018 Quarterly Report
30.10.2018 | Accesswire
SUBIACO, October 30, 2018 - Gold developer West African ResourcesLimited (ASX, TSXV: WAF) is pleased to report progress on its Sanbrado GoldProject ("Sanbrado"), Burkina Faso, for the quarter ending 30 September 2018.
Highlights
M1 South DiamondDrilling
High-grade results fromstep down and infill drilling at M1 South include:
- TAN18-DD214A: 0.5m at 520 g/t Au from 578m
- TAN18-DD214A: 23m at 7.3 g/t Au from 617m including 4m at 24.4 g/t Au
- TAN18-DD189-WD1: 10m at 8.1 g/t Au from 646.5m, including 0.5m at 61.7 g/t Au
- TAN18-DD196-WD2: 10.5m at 8.8 g/t Au from 648m, including 0.5m at 138 g/t Au
- TAN18-DD214A-WD1: 21.5m at 15.3 g/t Au from 614m, including 0.5m at 115 g/t Au
- TAN18-DD214A-WD2: 14.5m at 19.9 g/t Au from 595.5m, including 1m at 219 g/t Au
Parallel high-grade zone at M1South intercepted 300m below surface, 180m east of main zone include:
- TAN18-DD189-WD2: 2m at 138.4 g/t Au from 449m
- TAN18-DD189: 5.5m at 15.5 g/t Au from 452.5m including 1.5m at 48.3 g/t Au
- TAN18-DD214A-WD2: 8m at 6.0 g/t Au from 396m, including 1m at 30.0 g/t Au
Corporate Summary
- Updated mining permit awarded for Sanbrado
- Chief Development Officer appointed for Sanbrado construction
- Strong interest received from debt financiers to fund construction, with non-binding debt offers ranging from US$160m to US$215m
- Updated Feasibility Study NI 43-101 report filed on SEDAR
- Presented at Diggers & Dealers conference Kalgoorlie, Precious Metals Summit and Denver Gold Forum Colorado USA
September 2018 Quarter Summary
- 8,047.5m from 16 diamond holes and wedges drilled
- $7.0m exploration and development expenditure
- $0.6m administration costs
- $35.4m cash at bank, no debt at 30 September 2018
December 2018 Quarter Plans
- 1,000m diamond core hole targeting ultra high-grade shoot extension 200m below M1 South
- Further key hires for WAF owners team for Sanbrado build
- Commencement of early works, including box cut and UG portal development at M1 South
- Further results infill and step-out drilling from M1 South and M5
- Award of EPCM contract and mill order
- Appointment of debt financier or syndicate for Sanbrado build
Click here to view the activitiesreport
Click here to view the cashflowreportSOURCE: West African Resources Ltd.