AWALE RESOURCES CÔTE D'IVOIRE - PROJECT - FIRST GOLD DISCOVERY at the ODIENNÉ TSXV-ARIC February 2020
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AWALE RESOURCES CÔTE D’IVOIRE –
FIRST GOLD DISCOVERY at the ODIENNÉ TSXV-ARIC
PROJECT February 2020
Chief Executive Officer - Glen Parsons
Chief Operating Officer - Andrew Chubb
Investor Relations - Karen Davies
Disclaimer & Forward Looking Statements
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purposes of engaging in any investment activity may expose an individual to a significant risk the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”)
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Investment Summary
• Under explored Jurisdiction- 33% of West
Africa’s Birimian Geology with less than 10
percent of resources
• Large strategic gold anomalous land
package with district scale over 3 projects
areas covering 2,307 km 2:
o Bondoukou 100% (1,192 km 2),
o Abengourou 100% (718 km 2).
o Odienné 90% (397 km 2)
• Maiden Drill program delivers first gold
discovery on the Empire Prospect-
Odienne
• Rapid advancement of defined drill targets
at Bondoukou with material advancement in
geological and mineralisation understanding
• Successful Board and Management Team,
with proven record of value delivery for
shareholders
3
Capital Structure, Shareholding and Team
Summary
Board
CEO - Glen Parsons ( Previous CEO Mariana Resources
Shares in Issue 79,45M Limited)
Director - Eric Roth ( Previous COO Mariana Resources
Warrants in Issue (Per Insert) 5,745,497 Limited)
Director - Ron Ho, Sandstorm Gold Limited
Options- under plan per insert 2,330,000 Director - Derk Hartman
Fully Diluted Shares in Issue 85.19M
Management Team
Cash on Hand (Jan) C$1.35M CEO - Glen Parsons
COO - Andrew Chubb
Market Capitalisation (@ 10 c/share) C$8 million CFO - Sharon Cooper
IR- Karen Davies
Management and Directors 26% Country Manager Cote d’Ivoire - Karl Akueson
Operations Manager Cote d’Ivoire - Koffi Gbamele
Sandstorm Gold Limited 16% Exploration Manager Cote d’Ivoire – Andrew Smith
Capital DI Limited 12%
Detail of Warrants
Exercise Price
Number of Warrants Expiry
0.25
200,000 December 29, 2020
0.32
5,545,497 December 31, 2021
Total 5,745,497
Detail of Options
Exercise Price
Number of Options Expiry
0.10
400,000 April 29, 2021
0.40
1,930,000 January 16, 2021
Total 2,330,000
4
Diversified Gold Anomalous Project
Portfolio- Geared for Multiple Discoveries
• Large strategic gold anomalous land package with district scale, over 3 projects areas, 2,307 square
kilometres of granted permits
Bondoukou 100% (1,192 Odienné 90% (397 Abengourou 100% (718 km2)
km2) km2)
5
Summary of Targeted Objectives by All
Projects
• Large strategic gold anomalous land package with district scale, over 3 projects
area
• Drill targeting objectives gearing for multiple gold discoveries
BONDOUKOU ODIENNE ABENGOUROU
Targets to be ranked
for drilling 15 14 4
Mineralisation Style Shear Zone hosted/high grade vein styles. Vein and Stockwork systems, Intra basin structures (Siguiri
and host rock Rheology contrasts. Variable host rocks from rheology contrasts and high strain Model).Fold hinges etc. Hosted in
mafic/ultramafics to volcaniclastics and rocks. Shear hosted Models and meta siltstones and meta
sediments. granite contacts. Intrusive contacts. Variably hosted in greywackes.
intrusive bodies (Diorite/Granite),
volcaniclastics, granite contacts.
Alteration Fuchsite/Sericite/Albite/Potassic/Fe Biotite (potassic), calc-silicate Chlorite, Sericite (large halo), Silicic.
carbonate/Silicic/Pyrite/chalcopyrite. Localised minerals. Pyrite, chalcopyrite, Pyrite
Molybdenum. phyrrhotite +/- magnetite.
Ongoing work • Infill Soil and Auger • Empire Phase 2 drilling • Ongoing geological mapping
programme H1 • Trenching and drilling of priority targets • Ongoing geological and • Trenching
• New target generation structural mapping, soil and • Soil geo-chemical sampling with
trench sampling hand auger
• Geophyics Airborne/Ground • Following successful geo-
• Following successful geo- chemical results –scout drilling
chemical with trenches and of high priority drill targets
scout drilling
Potential Target Camp scale project similar to Essekane (Bfaso) , Models include shear zone Sedimentary basin orogenic. Siguiri
Loulo-Gountoko (Mali), Massawa (Senegal). (orogenic) hosted and intrusive (Guinea)
Models include Shear zone hosted and contacts. Junction (Australia),
orogenic/late orogenic/Intrusive models Lamaque (Canada)
6
Odienné Project – Empire Discovery
Empire
Discovery
7
Odienné Project– Empire Discovery
8
Odienné Project– Empire Discovery
• High Grade mineralisation with visible gold - robust mineralisation and
continuity over central drill zone
• Open in all directions
• Hosted in quartz extension veins within a brittle/ductile deformation zone of a
diorite body that has intruded a pre-existing WNW trending mylonite bearing
structure.
• Empire is a ‘classic’ orogenic shear zone hosted gold target, which has
potential to build to +1m Oz rapidly – a 200m long +200ppb gold in soil
anomaly forms the core of a 3km long +30ppb soil anomaly. 9
Odienné Project– Empire Discovery - Drilling
Highlights
Best results from the 30 hole (3573m) phase 1 drilling program
• OEDD0001 - 18.15 m at 4.9 g/t Au from 40 m downhole,
including 10.4 m at 7.9 g/t Au from 40m downhole
• OEDD0002 - 27 m at 3.1 g/t Au from 43.2 m downhole
including 9 m at 5.3 g/t Au from 43.2 m downhole*.
• OEDD009 - 17m at 2.6 g/t Au from 40 m downhole,
including 2.65m at 15.4 g/t Au from 40m,
16.74m at 1.9 g/t Au from 74.26m downhole,
including 9.28m at 2.7g/t Au from 80.72m and,
16m at 1.8 g/t Au from 98m downhole,
including 3m at 7.6 g/t Au from 111m downhole
• OERC0021 - 32m at 0.9g/t Au from 32 m downhole,
including 2m at 4.8g/t Au from 53m downhole
34m at 1.9 grams per tonne (g/t) gold (Au) from 96m downhole,
including 18m at 3g/t Au from 97m downhole and 2m at 15.5 g/t Au from 111m downhole
29m at 1.2g/t Au from 134m downhole,
including 11m at 2.5g/t Au from 140m downhole and 2m at 5.6g/t Au from 140m downhole
• OERC0008 Step-back hole to Discovery Hole OEDD0001 (Figures 2 and 4)
16m at 1.3 g/t gold (“Au”) from 81m downhole,
including 1m at 11.3 g/t Au from 94m downhole
10m at 2.3 g/t Au from 109m,
including 5m at 3.9 g/t Au from 109m downhole
• OEDD0003 - 19m at 0.9 g/t Au from 151m downhole
including 1m at 4.54 g/t Au from 152 m downhole.
3m at 4.5 g/t Au from 193m downhole
10Odienné Project– Empire Discovery – Exploration
Upside
3km long 30ppb soil anomaly with >200ppb core, orpaillage pit opened after soil sampling, although it appears
large, is small in comparison to the soil anomaly and is offset north of the best anomalism.
11Odienné - Project Upside
Vakaba Structural corridor - Royal Fault -
• Proven Gold Mineralisation Crustal scale
• Historic Randgold soil anomalism structure
• Structural complexity –
• folding,
• deep structures,
• late intrusions
• 10 internal targets undergoing
mapping, soil and termite
geochemistry.
• Follow with trenches and scout
drilling
Empire Shear
• Discovery on Major deep seated
structure
• Chase continuity – 100x25m
Auger program completed over
3km
• Phase 2 RC/DD Campaign
• 14km Long and continues to NW
in Odienne West Application
12Bondoukou Project- On going Drill Target Generation
Recent regional Interpretation
from Geophysics and surface
work on the Bondoukou Permits
has initially defined four (4)
prospective fluid pathways,
generating a pipeline of potential
sites for gold mineralization
Continue defining targets to
drill ready status for testing in
H1 2020
13Bondoukou Project – Bandoli Syncline/Awari
Shear – New Gold Anomalies Identified
5km
14Bondoukou Project –Awari Shear – New Gold
Anomalies Identified
A
• Previously untested northwest extension
of the Awari Shear
• Drilled on a 640m line spacing
• Anomalous zones are defined by >13ppb 5km
gold anomalism with >50ppb cores and a
maximum value of 569ppb
15Bondoukou Project – The Awari Shear – Fako
Trenching
Highlights of the program completed to date include:
BETR0003: 8m at 1.6 g/t Au from 4m and 17 meters at 2.6 g/t Au from 62 meters including 1m intervals at
10.5 g/t Au from 63m, 11.5 g/t Au from 65m and 1m at 4.8 g/t Au from 73m.
Selective sampling of a quartz vein within the last meter of the trench (79 to 80m) has delivered 14.7 g/t.
BETR0005: 21m at 1.96 grams/tonne gold (g/t Au) from 36m with included 1m intervals at 11.5 g/t, 5.5 g/t
and 5.4 g/t respectively
Key Objective- Understanding the structural architecture of this shear zone which is key to identifying
potential trap sites for the precipitation of economic gold. Current targets identified from in situ Au
anomalism generated from the recent Auger drilling.
16Bondoukou Project– Kodio Trend
B
Silicified breccia of
sedimentary. Rare sulphide.
9.85 g/t Au
A
Fractured and brecciated
quartz vein with silica
hematite infill , boxworks
7.03 g/t Au
• 17km long Trend
• Gold Bearing (rock chip and
stream
• Magnetic structure with left
stepping jogs
• 1st Pass Auger recently
completed 640x 50m spacing –
covers entire 17km
17Bondoukou Project – Samanda Target
• Two new 3km long gold targets along the
previously untested Samanda Trend
• Greater than 10ppb gold (“Au”) soil
anomalies with >40ppb Au cores and a peak
value of 4,297 ppb Au*.
18Abengourou Project– Results and Planned
works
Results from exploration:
Confirmation by Awalé of
large soil anomalies
Planned / Current Works
o Ongoing geological
mapping, pitting and
trenching.
o Following successful
geo-chemical results
– possible scout
drilling of high
priority drill targets.
Nianda Permit untested
along same geology and
structures as Amélékia
o Stream (Silt)
sampling at Nianda.
• Forms part of Awale’s
prioritisation pipeline
19Summary & Project Pipeline- Active on 2 District Scale
Projects
Project Generation - West Africa - Core d'Ivoire
Target Generation (Regional Surveys - Aerial Surveys, Regional Geochemistry)
Bondoukou
Target Testing (Ground Geophysics Drill Target Testing etc.)
Odienné Bondoukou -15
prospective targets Target Definition & Resource Drilling
Abengourou
Odienné- 12
New Opportunities
Prospective targets
Feasability Studies
Odienné- Empire
Prospect
20Why Côte D’Ivoire
21Thank You www.awaleresources.com
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