Emerging gold producer West African Resources Ltd (ASX: WAF) has hit beyond 55 grams per tonne of gold while drilling the main lode M1 South of its Sanbrado Gold Operations project in Burkino Faso, consolidating expectations of a high-grade ore resource there, and boosting hopes for the project’s ten-year plan.
Infill diamond drilling at the M1 South main zone pulled up intercepts including 24 metres at 55.8 grams per tonne gold, with other results including 28.5 metres at 37.03 grams per tonne, 28 metres at 28.52 grams per tonne, 22.5 metres at 32.98 grams per tonne, and 25 metres at 29.44 grams per tonne.
Next cabs off the rank for West African will be resource definition drilling in the second quarter of 2024, and infill drilling of M1S’ northern shoot in the next few weeks, with the latter being in preparation of ore development at the project. Previous work at this shoot has revealed intercepts such as 9.5 metres at 81.91 grams per tonne gold outside ore reserves.
West African executive chairman Richard Hyde said the drilling work had reinforced the company’s basis for high expectations of Sanbrado.
“Infill drilling has confirmed the grade and tenor of high-grade areas of the M1S resource and strengthens confidence in 2024 production and our 10-year production plan,” he said.
“WAF is on track to produce 4 million ounces over the next decade, with annual production set to peak in 2029 at 473,000 ounces of gold. Our unhedged resources now stand at 12.8 million ounces and Ore Reserves at 6.1Moz of gold.”
Sanbrado – which comprises several open pits and an underground mine – saw its first gold pour in March 2020, six months ahead of schedule, producing 56,595 ounces from 844kt of ore in the first quarter of 2024, with expectations of meeting the year’s guidance of between 190,000 and 210,000 ounces of gold.
West African Resources has been trading at $1.310.