Highlights
Charger 1 and Charger 2 connected. Mineralization now extends approximately 300m along strike and 400m vertically, with estimated true widths of up to 34m, and remains open at depth and down-plunge.
High-grade intercepts across Charger 1 and Charger 2:
8.7 g/t gold over 25m, including 36.5 g/t gold over 3m from 138m downhole in CHDD-62 (Charger 2)
7.0 g/t gold over 28m, including 9.0 g/t gold over 20m from 134m downhole and 5.2 g/t gold over 17m from 223m downhole, including 20.1 g/t gold over 4m from 233m downhole in CHDD-52 (Charger 1)
4.7 g/t gold over 49m from 119m downhole, including 10.4 g/t gold over 8m from 135m downhole in CHDD-60 (Charger 2)
These results support continued high-grade growth potential at Charger.
Results from a further 33 Charger drill holes remain pending, with additional results from Charger and BBM expected over the coming weeks.
Toronto, Ontario--(Newsfile Corp. - October 27, 2026) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to announce the results from step-out diamond drilling at Charger, establishing high-grade continuity between Charger 1 and Charger 2 over approximately 300 metres of strike, merging the two zones (see Figures 2 to 4) at its Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. Mineralization now extends towards 300 metres along strike and 400 metres vertically, with true widths of up to approximately 34 metres, and remains open at depth and down-plunge.
"We are now seeing Charger 1 and Charger 2 merging together. As we stepped out the drilling to the southwest at the same elevation as the earlier high-grade intercepts in OEDD-83 and OEDD-100, every hole has intersected Charger-style breccia and veining, with widths of up to 49 metres downhole. The system remains open at depth along the full strike, and with further results pending, we expect Charger to keep growing beyond the current MRE," said Andrew Chubb, President and CEO of Awalé Resources.
Link to All Figures
Link to Drill Core Photos
Watch Video of CEO Andrew Chubb Discussing Results
Increasing Strike of the Mineralization - Merging Charger 1 and 2
Diamond drill holes CHDD-52, CHDD-60, and CHDD-62 were part of a 50-hole level drill program that stepped out from the southwestern edge of Charger 1 towards Charger 2 on a 20m incremental spacing. All drill holes successfully intersected Charger-style alteration and geology with increasing thicknesses of breccia and vein mineralization of up to 49m downhole. These high-grade holes were drilled to the southwest and at the same RL as the early diamond drilling at Charger, that included OEDD-100 (59m @ 14.7 g/t Au from 140m) (see November 11, 2024 news release) and OEDD-83 (57m @ 26 g/t Au from 164m) (see March 25, 2024 news release).
Drilling to the northeast at Charger has confirmed edge of system geology, defined as a sharp contact that plunges steeply to subvertical to the southwest. The geometry and continuity observed to date to the southwest, shows the system is broader than previously modeled, supporting the potential for further resource growth through additional down-plunge drilling. Mineralization remains open at depth and down-plunge, as shown on the long section.
Table 1: Significant Intercepts from Diamond Drilling - (from this release)
| Hole ID | From
(m) | To
(m) | Length
(m) | Au
(g/t) | Cu
(%) | Ag
(g/t) | Mo
(ppm) | Comp.
Trigger
(Au g/t) |
| CHDD0027 | 19.00 | 22.50 | 3.50 | 1.14 | 0.01 | 0.12 | 2 | 0.50 |
| 51.50 | 52.00 | 0.50 | 6.45 | 0.00 | 0.24 | 2 | 0.50 |
| 60.50 | 61.50 | 1.00 | 1.65 | 0.02 | 0.23 | 2 | 0.50 |
| 69.50 | 70.00 | 0.50 | 1.10 | 0.02 | 0.22 | 2 | 0.50 |
| 78.00 | 80.50 | 2.50 | 1.10 | 0.01 | 0.09 | 2 | 0.50 |
| including | 80.00 | 80.50 | 0.50 | 4.48 | 0.01 | 0.16 | 2 | 3.00 |
| 114.00 | 115.00 | 1.00 | 3.79 | 0.01 | 0.21 | 2 | 0.50 |
| CHDD0028 | 96.00 | 97.00 | 1.00 | 0.81 | 0.01 | 0.09 | 3 | 0.50 |
| 130.00 | 131.00 | 1.00 | 0.80 | 0.01 | 0.09 | 3 | 0.50 |
| CHDD0030 | 233.00 | 234.00 | 1.00 | 0.62 | 0.55 | 13.84 | 4 | 0.50 |
| CHDD0033 | 3.50 | 5.00 | 1.50 | 0.57 | 0.02 | 1.36 | 1 | 0.50 |
| 9.50 | 12.50 | 3.00 | 1.34 | 0.02 | 0.74 | 1 | 0.50 |
| including | 9.50 | 11.00 | 1.50 | 1.95 | 0.02 | 0.93 | 1 | 1.50 |
| 43.00 | 43.50 | 0.50 | 0.76 | 0.03 | 1.96 | 91 | 0.50 |
| 52.00 | 53.00 | 1.00 | 0.63 | 0.11 | 1.47 | 1 | 0.50 |
| CHDD0034 | 165.00 | 166.00 | 1.00 | 0.53 | 0.01 | 0.22 | 2 | 0.50 |
| 173.00 | 188.00 | 15.00 | 3.07 | 0.01 | 0.37 | 3 | 0.50 |
| including | 174.00 | 177.00 | 3.00 | 8.11 | 0.01 | 0.58 | 8 | 5.00 |
| 195.00 | 196.00 | 1.00 | 0.55 | 0.04 | 0.92 | 2 | 0.50 |
| 232.00 | 233.00 | 1.00 | 0.97 | 0.01 | 0.11 | 2 | 0.50 |
| CHDD0035 | 168.00 | 169.00 | 1.00 | 0.55 | 0.01 | 0.15 | 4 | 0.50 |
| 188.00 | 189.00 | 1.00 | 0.69 | 0.01 | 0.31 | 3 | 0.50 |
| CHDD0052 | 125.00 | 126.00 | 1.00 | 1.01 | 0.01 | 0.27 | 3 | 0.50 |
| 134.00 | 162.00 | 28.00 | 7.03 |
| 0.00 | 0 | 0.50 |
| including | 134.00 | 154.00 | 20.00 | 9.02 |
| 0.00 | 0 | 5.00 |
| 166.00 | 171.00 | 5.00 | 3.89 |
| 0.00 | 0 | 0.50 |
| including | 169.00 | 170.00 | 1.00 | 12.99 |
| 0.00 | 0 | 10.00 |
| 175.00 | 189.00 | 14.00 | 0.89 |
| 0.00 | 0 | 0.50 |
| 199.00 | 212.00 | 13.00 | 0.77 |
| 0.00 | 0 | 0.50 |
| 223.00 | 240.00 | 17.00 | 5.17 | 0.00 | 0.10 | 0 | 0.50 |
| including | 233.00 | 237.00 | 4.00 | 20.08 |
| 0.00 | 0 | 5.00 |
| 283.00 | 284.00 | 1.00 | 2.52 | 0.02 | 0.54 | 4 | 0.50 |
| 304.00 | 305.00 | 1.00 | 0.58 | 0.02 | 0.35 | 14 | 0.50 |
| 314.00 | 316.00 | 2.00 | 1.30 | 0.05 | 7.89 | 368 | 0.50 |
| 341.00 | 342.00 | 1.00 | 0.83 | 0.01 | 0.13 | 4 | 0.50 |
| 349.00 | 350.38 | 1.38 | 0.53 | 0.01 | 0.09 | 2 | 0.50 |
| CHDD0054 | 139.00 | 152.00 | 13.00 | 1.61 |
|
|
| 0.50 |
| 164.00 | 166.00 | 2.00 | 0.80 |
|
|
| 0.50 |
| 182.00 | 183.00 | 1.00 | 1.40 |
|
|
| 0.50 |
| CHDD0055 | 154.00 | 159.00 | 5.00 | 2.00 |
|
|
| 0.50 |
| 166.00 | 177.00 | 11.00 | 1.37 |
|
|
| 0.50 |
| including | 170.00 | 171.00 | 1.00 | 3.93 |
|
|
| 3.00 |
| and | 176.00 | 177.00 | 1.00 | 8.79 |
|
|
| 5.00 |
| CHDD0057 | 102.00 | 103.00 | 1.00 | 1.38 |
|
|
| 0.50 |
| 136.00 | 137.00 | 1.00 | 0.77 |
|
|
| 0.50 |
| 187.00 | 190.00 | 3.00 | 1.97 |
|
|
| 0.50 |
| including | 187.00 | 190.00 | 3.00 | 1.97 |
|
|
| 1.50 |
| CHDD0060 | 119.00 | 168.00 | 49.00 | 4.65 |
|
|
| 0.50 |
| including | 135.00 | 168.00 | 33.00 | 6.38 |
|
|
| 1.50 |
| and | 135.00 | 143.00 | 8.00 | 10.41 |
|
|
| 5.00 |
| and | 135.00 | 136.00 | 1.00 | 40.43 |
|
|
| 10.00 |
| CHDD0062 | 138.00 | 163.00 | 25.00 | 8.71 |
|
|
| 3.00 |
| including | 138.00 | 157.00 | 19.00 | 9.25 |
|
|
| 5.00 |
| and | 138.00 | 141.00 | 3.00 | 36.51 |
|
|
| 10.00 |
| and | 162.00 | 163.00 | 1.00 | 35.43 |
|
|
| 10.00 |
| 168.00 | 173.00 | 5.00 | 11.90 |
|
|
| 5.00 |
| 190.00 | 191.00 | 1.00 | 8.13 |
|
|
| 0.50 |
| 214.00 | 217.00 | 3.00 | 3.17 |
|
|
| 1.50 |
| including | 214.00 | 215.00 | 1.00 | 7.33 |
|
|
| 5.00 |
Table 2: Charger Drill Collar Details - (all collars from this release)
| Hole ID | Easting | Northing | RL (m) | Azimuth_True | Dip | EOH (m) |
| CHDD0026 | 647908 | 1032372 | 469.0 | 313.1 | -56.0 | 194.3 |
| CHDD0027 | 647879 | 1032342 | 469.5 | 313.1 | -56.0 | 164.3 |
| CHDD0028 | 647901 | 1032324 | 467.6 | 310.6 | -63.6 | 293.1 |
| CHDD0029 | 647937 | 1032401 | 467.4 | 313.1 | -55.9 | 149.3 |
| CHDD0030 | 647955 | 1032328 | 465.4 | 311.2 | -52.2 | 281.3 |
| CHDD0031 | 647974 | 1032361 | 466.1 | 311.1 | -56.9 | 263.1 |
| CHDD0033 | 647848 | 1032263 | 467.2 | 311.8 | -61.7 | 278.8 |
| CHDD0034 | 647741 | 1032152 | 471.0 | 310.9 | -61.8 | 278.7 |
| CHDD0035 | 647726 | 1032138 | 471.4 | 310.9 | -61.8 | 275.4 |
| CHDD0052 | 647749 | 1032187 | 471.1 | 311.7 | -61.5 | 350.4 |
| CHDD0054 | 647735 | 1032172 | 471.7 | 311.7 | -61.6 | 323.2 |
| CHDD0055 | 647723 | 1032157 | 471.8 | 311.5 | -61.6 | 260.3 |
| CHDD0057 | 647710 | 1032145 | 472.0 | 311.6 | -61.5 | 263.3 |
| CHDD0059 | 647693 | 1032134 | 472.3 | 307.8 | -61.6 | 269.3 |
| CHDD0060 | 647648 | 1032093 | 471.6 | 311.7 | -61.4 | 254.2 |
| CHDD0061 | 647617 | 1032063 | 470.9 | 311.5 | -61.5 | 251.4 |
| CHDD0062 | 647681 | 1032112 | 472.0 | 311.5 | -61.5 | 258.4 |
Figure 1: Odienné Project - Permits and targets map (Charger highlighted in red).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/321126_af3d59b4f4972987_002full.jpg
Figure 2: Charger Plan Map - Showing drill collars from this release in red, drilled holes with pending results in black, the interpreted mineralized breccia and vein system connecting Charger 1 and Charger 2, and the locations of cross section A-A′ and long section B-B′.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/321126_af3d59b4f4972987_003full.jpg
Figure 3: Charger Long Section (line B-B′ in plan map, Figure 2) - Showing the approximately 300m strike extent of mineralization connecting Charger 1 and Charger 2, gold grade distribution, drill intercepts from this release in red, and holes with pending results in black. Mineralization extends approximately 400m vertically and remains open at depth and along strike.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/321126_af3d59b4f4972987_004full.jpg
Figure 4: Charger Cross Section (line A-A′ in plan map, Figure 2) - Through hole CHDD-62 (this release), showing high-grade mineralization of 8.7 g/t Au over 25m, including 36.5 g/t Au over 3m, within the interpreted Charger breccia and vein system.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/321126_af3d59b4f4972987_005full.jpg
About Awalé Resources
Awalé Resources is a diligent and systematic mineral exploration company focused on discovering large-scale gold and gold-copper deposits in Côte d'Ivoire. The Company's flagship Odienné Project now hosts an initial inferred Mineral Resource Estimate1 of 1.71 million ounces gold equivalent across the BBM, Charger, and Empire deposits (32.4 Mt at 1.33 g/t Au and 0.33% Cu), providing a strong foundation for ongoing growth and future economic studies.
In addition to the current resource base defined on the joint venture ground, Awalé controls a 1,542 km2 100%-owned land position across the broader Odienné district, where multiple targets provide additional potential discovery upside. Across the Project, Awalé has identified multiple gold and gold-copper systems and continues to build a pipeline of targets with potential to support further discoveries and resource growth.
The Odienné Project covers 2,338 km2 across seven permits, including 797 km2 held under the Awalé-Newmont Joint Venture. Awalé manages exploration activities across the joint venture area.
With a skilled and experienced technical team, together with support from three strategic shareholders, Awalé is advancing exploration in an underexplored and pro-mining jurisdiction with clear potential for district-scale discoveries.
Quality Control and Assurance
Analytical work for drill samples is being carried out at the independent Intertek Laboratories in Ghana and Australia, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags until collected by Intertek from the Company's secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for screen fire and fire assay and a second to Australia where the sample is analyzed by 52 element ICP/MS with a 4-Acid digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis. Where visible gold is observed in drill core, a quartz wash is applied between every sample to reduce or eliminate any contamination.
Mineralized Interval Calculations
Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the Charger target, initial mineralized zones are calculated at a 0.5 g/t Au trigger and include up to 3 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 1.5 g/t Au, 3 g/t Au, 5 g/t Au, and 10 g/t Au trigger values, with a maximum of 3 metres of internal waste. Table 2 contains a list of all Charger holes reported in this release. True widths are estimated to be 70% of the downhole widths. Holes not reported do not make the 0.5 g/t Au grade trigger. Blank cells in the intercept table (Table 1) have no reported silver, copper or molybdenum results returned from the ICP lab.
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 Executive 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 Geoscientists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.
Abbreviations Used in this Release
| Au | Gold | |
| Ag | Silver | |
| Cu | Copper | |
| g/t | Grams per tonne | |
| km | Kilometres | |
| m | Metres | |
| Mo | Molybdenum | |
| MRE | Mineral Resource Estimate | |
| Mt | Million tonnes | |
| ppm | Parts per million | |
The Company's public documents may be accessed at www.sedarplus.ca. For further information on the Company, please visit our website at www.awaleresources.com.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plan, propose, potential, postulate, target, continue, advance and similar expressions, or are those which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont exploration agreement, advancement and expansion of the Odienné Project, the potential size, scale and quality of the mineral resource estimate at BBM, Charger and Empire, the conversion or upgrading of inferred mineral resources, timing and results of future drilling programs, resource expansion potential at BBM, Charger and Empire, and exploration and discovery potential at Fremen and other targets, the potential for additional discoveries, expectations regarding the timing and completion of a preliminary economic assessment and advancement toward pre-feasibility studies, timing for receipt of assay results, commencement and continuation of operations, and the potential development of the Odienné Project. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations and assumptions will prove to be correct. Factors that could cause actual results to differ materially from forward-looking information include, but are not limited to, the results of exploration and drilling programs, the interpretation of exploration and mineral resource results, changes in mineral resource estimates, the ability to convert inferred mineral resources to indicated mineral resources, the ability to complete future economic studies, fluctuations in commodity prices, changes in the state of equity and debt markets, delays in obtaining required regulatory, governmental, environmental or other project approvals, availability of financing, and the other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis and other continuous disclosure documents filed under the Company's profile at SEDAR+ at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, without limitation, that all necessary governmental and regulatory approvals will be received as and when expected, that financing will be available on reasonable terms, and that exploration, development and study activities will proceed as currently planned. Although the Company believes the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the 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.
1 The full Initial Mineral Resource Estimate news release dated May 19, 2026, including detailed assumptions and methodology, is available at www.awaleresources.com and SEDAR+ www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321126
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