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Last A$0.07 AUD
Change Today +0.014 / 25.00%
Volume 50.0K
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As of 1:46 AM 08/27/15 All times are local (Market data is delayed by at least 15 minutes).

west african resources ltd (WAF) Snapshot

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west african resources ltd (WAF) Details

West African Resources Limited, a gold exploration company, engages in the identification, acquisition, assessment, and development of mineral resource projects in West Africa. The company also explores for copper. It primarily owns a 100% interest in the Boulsa gold project covering approximately 3,700 square kilometers located in Burkina Faso, West Africa. The company was incorporated in 2006 and is based in Scarborough, Australia.

west african resources ltd (WAF) Top Compensated Officers

Chief Executive Officer, Managing Director an...
Total Annual Compensation: A$280.0K
Compensation as of Fiscal Year 2014.

west african resources ltd (WAF) Key Developments

West African Resources, Ltd. Reports High-Grade Results from Shallow Oxide RC Drilling at its Mankarga 1 Prospect, Tanlouka Permit, Burkina Faso

West African Resources, Ltd. reported high-grade results from shallow oxide RC drilling at its Mankarga 1 prospect, Tanlouka Permit, Burkina Faso. Highlights: RC drilling at M1 prospect intercepts shallow oxide mineralization, drilling provides potential to add ounces and increase grade of heap leach starter project, and follow-up RC drilling planned to commence in October. The company completed an updated Pre-Feasibility Study report for an oxide heap leach starter project on its Mankarga 5 Gold Project, Burkina Faso in May 2015.

West African Resources, Ltd. Announces the High-Grade Results from Auger Drilling from New Zone at Tanlouka Gold Project, Burkina Faso

West African Resources, Ltd. announced the high-grade results from auger drilling from a new zone at its Tanlouka Gold Project, Burkina Faso. Auger drilling has discovered a new zone less than 2km northwest from the proposed oxide starter pit. High-grade auger results up to 13g/t Au were returned, within an anomalous trend over 1.3km. The new zone, named M3, trends parallel to the M1 prospect. Follow-up RC drilling is planned to commence shortly. Auger drilling at the Tanlouka Gold Project has delivered high-grade results 2km northwest of the M5 Mineral Resource and proposed oxide starter pit. Significant high-grade auger assays, with a peak result of 12,772 ppb Au (12.77g/t Au), were returned from a new zone 500m west of and parallel to the M1 prospect. Results occur over a 1.3km mineralized trend. Infill auger drilling was also completed over the historic M2 prospect. M2 is located 800m west of the southern end of the proposed starter pit. Recent mapping by WAF geologists indicate that mineralization occurs over a 1km east-west arcuate zone within weathered diorite, coincident with artisanal workings. A peak of 5,280ppb Au (5.28g/t Au) was returned.

West African Resources Limited Reports Operating Results for the Quarter Ended June 2015

West African Resources Limited reported activities on its 100%-owned and 100%-earning gold and copper-gold projects in Burkina Faso, West Africa, for the quarter ended June 30, 2015. Tanlouka Gold Project - Exploration: Auger drilling at Mankarga 1 (M1) prospect delivered high-grade results 500m northwest of the Mankarga 5 Mineral Resource. Significant high-grade auger assays, with a peak result of 3,851 ppb Au (3.85g/t Au), were returned from multiple parallel zones along strike and parallel with historic RC and diamond drilling, and artisanal workings. Results occurred over a 1.5km mineralized trend, with potential indicated in regional auger drilling for repeat parallel structures to the west. The results confirm an updated interpretation based on detailed prospect mapping showing parallel and linking mineralized zones. Drilling is continuing to the west of M1 over newly identified gold zones and to the south over the M2 prospect. The results from the recent auger drilling show that the geochemical signature over known mineralization is subtle and discreet, with only seven samples greater than 160ppb Au within the proposed starter pit outline. Results along strike of the M5 resource demonstrate there is significant potential to add more oxide tones to the heap leach starter project and extend the current PFS mine life of seven years. Following the end of the quarter, RC drilling at the M1 prospect intercepted oxide mineralization beneath historic artisanal workings with two scissor holes ending in mineralization. Shallow first pass RC drilling is being completed with an Aircore rig drilling to blade refusal as such TAC0657 and TAC0658 both ended in quartz veining returning 8m at 1.5g/t Au and 6m at 1.3g/t Au respectively. These results are up dip of historic RC hole TAN10-RC-23, drilled in 2010, which returned high-grade results of 2m at 25g/t Au from 58m. It is expected that oxide mineralization from M1 will exhibit similar metallurgical characteristics to M5 oxides, therefore will be amenable to heap leach processing. None of the gold mineralization at the M1 prospect is currently included the project resource inventory. M1 mineralization will be modelled and incorporated in a resource update later this year, and subsequently added to the mine schedule. Any additional higher grade oxide tones will have a positive impact on the project economics. Infill RC drilling was also completed at the northeastern end of the proposed starter pit at M5. Results from infill drilling will enable Inferred Resources currently treated as waste the study mine plan to be upgraded to Indicated status and incorporated in the mine schedule. The company reported production of 69,000oz pa for first 3 years, 49,000oz pa for life of mine, 7 year life of mine. Pre-tax cash flow was $146 million, post-tax cash flow was $118 million after initial and sustaining capital costs.


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