Phase 2 Drill Update for the Empire Gold Discovery, Odienné, Côte d'Ivoire

VANCOUVER, BC, Sept. 14, 2020 /PRNewswire/ - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC) is pleased to report that it has completed the first 2 diamond holes of its Phase 2 drill program at the Empire high grade gold discovery (Figures 1 and 2).

The first holes (OEDD0016 and OEDD0017, collar details below) of this program were designed to test for potential down-plunge extensions to the gold mineralization in discovery holes OEDD0001 and -OEDD0002. These holes have successfully intersected target geology and alteration with visible gold reported from 6 locations in OEDD0016 and 3 locations in OEDD0017. Both holes have now been logged, split, sampled and have been shipped to the laboratory for analysis, with assays expected to be returned in 2 to 3 weeks.

Photos in figure 3 depict examples of visible gold seen in both holes. Down hole locations of observed gold and summary geology are depicted in a cross section (figure 4). The Empire discovery is summarized in a release dated 29^th January 2020, along with other releases dated the 19^th of November and 23^rd of December 2019.

The company notes that visible gold is not a quantifiable indicator of tenor, it is however an indication of gold mineralization in these drill holes. The geology of the zones correlates with deformation zones containing visible gold mineralization in previous holes.

These two holes and the ongoing diamond core drilling is testing a shallow eastward plunge to high grade gold mineralization intercepted in the Phase 1 discovery drill program. A flexure in footwall geometry is modelled to be the principle control to this mineralization, with secondary controls also being tested based on flat dipping lineations. The Long section in Figure 5 depicts the coincident gram-meter grade contours which form the target for these holes along the interpreted axis of the flexure.

Further to the plunge targets at Empire Main, the company is targeting 3 high order (>100ppb) auger anomalies along strike from the discovery area with RC drilling (Figure 6), (see release dated 28^th April 2020). Each of these >100ppb targets are of similar size to the discovery zone at Empire Main and represent compelling targets to rapidly expand gold mineralisation at the prospect. These extension targets add a potential 1200 metres to the discovery zone. The company has planned 50 holes for 4500m over these extension targets.

To accelerate this program Capital Drilling has mobilized a second drill rig so these extension targets can be drilled in tandem with the plunge test drilling at Empire Discovery.

LINK: SEE FIGURES 1 TO 6: 
https://www.awaleresources.com/_resources/maps/Awale_Septmeber_14_2020.pdf

Company CEO Glen Parsons commented today:

"We are pleased to see the first 2 plunge test holes at Empire main have successfully intercepted target geology and visible gold. The company looks forward to delivering the results from these first holes in the ensuing weeks.

We also eagerly anticipate commencing the RC program over the exciting 3 new extension targets, which are similar in size to the Discovery zone. These exiting targets have potential to extend mineralization by a further 1200m. Encouragingly the second rig will certainly help us meet our stated drilling timeline objective to ensure our exploration momentum is maintained.

The Empire discovery and current focus is testing the initial 3km strike of the >20km long Empire structure, we also look forward to extending exploration along this shear zone."

Table 1: Collar Details for Holes OEDD0016 and OEDD0017

The Empire discovery is summarized in a release dated 29^th January 2020, along with other releases dated the 19^th of November and 23^rd of December 2019. Selected highlights from the Initial discovery drill program include:

• OEDD0001 - The discovery Hole (Drill Section 2)
• 18.15m at 4.9 grams per tonne ('g/t Au') from 40 meters ('m') downhole,
• including 10.4 m at 7.9 g/t Au from 40m downhole
• OEDD0002 Scissor of OEDD0001 (Drill Section 2)
• 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.
• OEDD0009 Step West - Drill Section 2a
• 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 Step West- Drill section 2a
• 2m at 4.8g/t Au from 53m downhole
• 18m at 3g/t Au from 97m downhole including 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

Note; True width Intercepts are approximately 75 to 90% of the reported downhole interval downhole. The Broad intercepts above are calculated at a 0.2g/t Au trigger with included intercepts calculated at a 1 g/t Au trigger. All calculated intercepts include 3m of internal waste.

Quality Control and Assurance

Analytical work for drill core and RC percussion samples is being carried out at the independent Intertek Laboratories Ghana Ltd. an ISO 17025 Certified Laboratory. Samples are stored at the company's field camps and put into sealed bags; they are stored securely until collected by Intertek for transportation to Ghana. Samples are logged in the tracking system, weighed, dried and finely crushed to better than 70%, passing a 2 mm screen. A split of up to 1,000 g is taken and pulverized to better than 85%, passing a 75-micron screen, and a 50-gram split is analyzed by Fire Assay with an AAS finish. Blanks, duplicates and certified reference material (standards) are being used to monitor laboratory performance during the analysis. Due to the presence of free gold the lab was requested to run a quartz wash between each sample during preparation. Samples that have returned more than 1g/t Au have been Screen Fire Assayed.

Screen Fire Assay involves screening a nominal 1kg sample and firing the entire coarse fraction, including the screen cloth. Duplicate assays are carried out on the undersize fraction which is more reproducible due to the smaller gold particle sizes. The total gold content is calculated as a weighted mean of the measured grades of the two screen fractions.

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 Operating 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 Geologists (SEG). Mr Chubb has 18 years of experience in international minerals exploration and mining project evaluation.

ON BEHALF OF THE BOARD

AWALE RESOURCES LIMITED.                                                                                    

"Glen Parsons"                                                                                                

Glen Parsons, President and CEO                                                                                            

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward-looking information except as required by applicable law.

Cautionary Statement

NEITHER 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

SOURCE Awale Resources