TNM Drill Down: Awalé’s Odienne delivers week’s hottest drill hits

Our TNM Drill Down features highlights of the best gold assays of the March 22-29 period. Drill holes are ranked by gold grade x width as identified by data company Mining Intelligence.

This week’s top assay results come from Awalé Resources’ (TSXV: ARIC) Odienne project in the Ivory Coast, followed by New Found Gold’s (TSXV: NFG) Queensway project and Amex Exploration (TSXV: AMX) at Perron, both in Canada.

Ivory Coast

Awalé on March 25 reported the week’s best assay result from hole OEDD-83, which cut 57 metres grading 26 grams gold per tonne from 164 metres depth for a width x grade value of 1,482.

CEO Andrew Chubb says the intersection was rare. “This drill hole is absolutely spectacular,” he said in a statement. “I have been looking at gold projects for the last 20 years and have never seen anything like this.”

The exploration team plans to drill an additional 25,000 meters this year to expand the Charger, BBM, and Sceptre discoveries and to scout prospective pipeline targets. Awalé sees Odienné being developed into a world-class mine camp.

The project benefits from an earn-in agreement allowing Newmont (NYSE: NEM, TSE: NGT) to acquire a minimum of 65% interest by funding US$15 million in exploration., The broader Odienné copper-gold project remains largely underexplored with significant growth and discovery potential.

Newfoundland and Labrador, Canada

The second-best assay this week comes from New Found Gold’s Queensway project. The company said on March 26 that hole NFGC-23-1941 returned 2.55 metres at 186.71 grams from 58 metres depth for a width x grade value of 476.11.

New Found has announced drilling results from 38 diamond drill holes at Iceberg Alley and 114 at the Keats Zone as it continues to trace high-grade gold within the Queensway project near Gander.

The hole marks a significant new area of interest. In the Keats Zone, barge-based exploration uncovered a continuation of the gold-mineralized Keats Main Zone, with standout results including 34.4 grams gold over 3.55 metres.

New Found is expanding the Iceberg and Iceberg East drill program, using seismic data to help target more gold mineralization in the fault. The company started drilling on the project five years ago, completing 500,000 metres by last year and adding another 150,000 to the planned total. There’s been no resource declared yet.

Quebec, Canada

Third on our list is Amex Exploration and its Perron project in Quebec’s prospective Abitibi region.Amex reported on March 28 that PEG-24-742 returned 3.5 metres at 76.69 grams from 131 metres depth for a width x grade value of 268.42.

The hole represents the best result yet from the emerging Gratien zone.

Amex’s drilling over a 4-km strike since at least 2017 discovered the gold zones named Eastern, Denise and Gratien, Central polymetallic, and Grey Cat. The property has year-round road access and lies near power and water services.

The site, 110 km north of Rouyn-Noranda, includes the historical Normetal gold mine, which operated until 1975 after a discovery in 1925. Falconbridge, now part of Glencore (LSE: GLEN), explored the property for base metals in the mid-1990s before Amex acquired the property through an option agreement.