Maiden Scout drilling delivers promising results at the Samanda East Prospect, Bondoukou Cote d'Ivoire.

VANCOUVER, BC, July 20, 2021 /PRNewswire/ - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC) is pleased to report that assay results have now been received from 4381m of scout drilling at the Samanda East and the southernmost 4 targets of the Kodio Trend at the Bondoukou project (Figures 1 and 2). In addition to previous drilling at Fako, the Company has now tested just 15% of the known 60+km cumulative mineralized strike length for the discovery of gold deposits at the Bondoukou project. 

Highlights from the Bondoukou Program:

• At Samanda East, 8 drillholes for 585m were completed over the >300ppb core of a 1.5 km long >20ppb ppb gold in soil anomaly (see Company News Release dated June 9 2020). The scout program was designed and intercepted gold mineralization along a NNE Structural trend (Figures 3, 4 and 5). The following encouraging results for follow up returned:

At Kodio 51 holes for 3,796m were drilled over the 4 southernmost targets on the >15km long Kodio gold in auger geochemistry trend.  Low grade mineralization was intercepted over all 4 targets and confirm near continuous mineralization along this major north/south structure which can be followed over the Company's entire permit area (Figure 6).

LINK VIEW ATTACHED FIGURES: http://www.bmcms1.com/staging/awaleresources.com/_resources/maps/Figures-Bondoukou-Drilling-Final.pdf

CEO Glen Parsons commented today:

"We are encouraged by results at Samanda where further follow up is planned for both Samanda East and West in Q4. Furthermore, the confirmation that the north/south Kodio structure is mineralized by fluid flow allows us to continue to assess our further multiple defined targets for follow up. Remember, we are sitting on over 80km of this mineralized trend which continues over our 3 licences. We have only drill tested a mere 8 km of this total trend by wide spaced drilling.  Therefore, we continue our thorough exploration approach and refine our targets in Q4 readying for the next phase of testing and discovery.

The Bondoukou exploration continues appropriately alongside our brownfields and new discovery focus at the Odienné Project. The Odienné Empire Main discovery is an exciting high grade focus where we are looking to build ounces on the locked in foundation of the discovery. This is now complemented by the unique and new Charger Prospect which is displaying a new form of alteration system where gold is hosted. Assays are pending and we wait in anticipation and will update the market accordingly."

Background to the drilling results:

Mineralization at Samanda East is related to a NNE trending shear zone which exploits the contact between basalts to the west and a package of intermediate volcanic and-sedimentary rocks to the east. This sheared contact has been intruded by a granodiorite which has acted as a brittle host to mineralization. Moving forward the company will define the margins of the intrusion and target 'shadow zones' for high grade and broader mineralization.  Mineralization intercepted in these holes is traceable over 200m and is open in all directions. Alteration in and peripheral to mineralization consists of silica/sericite and carbonate alteration with up to 3% sulphide (Figures 3, 4 and 5).

Follow up programs will include trenching and subsequently further drilling are scheduled to commence after the current wet season has passed in Q4.

At Kodio 51 holes for 3,796m were drilled over 4 targets, representing just 4km of the 15km gold in auger geochemistry trend. At all 4 prospects, the drilling has identified low grade mineralization associated with silica, sericite +/- fuchsite alteration and sulphides. Each of these alteration zones are spatially associated with strong deformation or shearing that are interpreted to be fluid pathways.  The alteration deformation observed in drilling matched expectations from mapping and high-grade samples selective rock chip sampling from artisanal workings in the area (9.85g/t Au from quartz veining in silicified shales and 7.03g/t Au from fractured, brecciated quartz vein with silica hematite infill). 

The Kodio trend contains multiple gold targets, the company will continue with its systematic exploration approach continuing to refine and test targets to unlock the potential of this and other anomalous trends withing the Bondoukou system.

Table of Significant Intercepts

Samanda East

Kodio

Intercepts calculated using a 0.2g/t Au trigger including 2m waste

*Denotes 2m composite sample

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 either their preparation laboratory in Yamoussoukro, or direct to the analytical laboratory in Tarkwa.  Samples are logged in the tracking system, weighed, dried and pulverized to better than 85%, passing a 75-micron screen,  pulp samples are then shipped to Ghana where a 50g charge is Fire Assayed with an AAS finish. Blanks, duplicates and certified reference material (standards) are being used to monitor laboratory performance during the analysis.

ON BEHALF OF THE BOARD
AWALE RESOURCES LIMITED. 
"Glen Parsons" 
Glen Parsons, President and CEO                                                                                   

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 with Honours, 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.

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

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