Awalé Outlines Fully Funded 71,500 Metre Exploration Program Targeting New Discoveries Across Its 100%-Owned Odienné Ground
Awalé commits US$8.5 million to a large, fully funded, 71,500‑metre exploration push to generate new discoveries on its Odienné ground.
Rhea-AI Summary
Awalé Resources (AWLRF) has launched a fully funded 15‑month, US$8.5 million regional exploration program across its 100%-owned Odienné ground in Côte d'Ivoire, totaling about 71,500 metres of drilling.
The campaign includes 23,940m auger, 10,000m aircore, 15,000m RC and 22,560m diamond drilling, plus around 15,620 surface geochemical samples. Work is already underway, with 8,509 termitaria and soil samples collected at Seydou and Sama and a 1,440m scout aircore program completed at Seydou’s Anomaly 1. About 5,960m of diamond drilling at the Fremen discovery is planned for Q4, and a further 15,000m (10,000m diamond, 5,000m RC) is reserved to rapidly follow up any new discoveries. The program is funded following a recent PDI Gold financing supported by Fortuna Mining and Newmont.
Positive
- US$8.5m fully funded 15‑month exploration budget, reducing near‑term financing risk
- Planned 71,500m of drilling across 100%-owned Odienné ground
- 15,000m of unallocated drilling (10,000m DD, 5,000m RC) reserved for discovery follow‑up
- Program includes about 15,620 surface geochemical samples to build a ranked target pipeline
- Existing Odienné resource base of 1.71 Moz AuEq supports future economic studies
Negative
- Exploration budget of about US$8.5m represents substantial spend without guaranteed discoveries
- Planned 4,400m auger drilling and 12,000 geochemical samples at GB and Tienko depend on permit grants
News Explained
The program is active, but its headline scope remains conditional; US$8.5 million is allocated across drilling, analysis, and geochemistry.
Awalé has commenced the fully funded 15-month,
The plan therefore sets a budgeted exploration envelope rather than a guaranteed metre count:
The budget directs approximately
The next specified resolution points are assays from seven previously drilled Fremen holes and approximately
AI-generated analysis. How Rhea-AI works. Not financial advice.
Highlights
71,500 metres of planned drilling – 23,940m of auger, 15,000m of reverse circulation, 22,560m of diamond drilling, and 10,000m of aircore drilling.
Fully funded 15-month exploration program – The recent PDI Gold financing, supported by Fortuna Mining and Newmont, provides Awalé with the funding to commence a systematic, large-scale exploration campaign across its
100% -owned Odienné ground.Fremen drilling to recommence following the wet season – Approximately 5,960m of diamond drilling planned for Q4, including 14 holes to test the scale of the discovery. Assays from seven previously drilled holes remain pending.
Integrated aerial and ground geophysics to generate drill-ready pipeline – The program is designed to deliver a pipeline of ranked anomalies across the whole
100% -owned package, rather than focus on a single target.Work currently underway – 8,509 termitaria and soil samples collected at Seydou and Sama, together with a 1,440m scout aircore drill program over Anomaly 1 at Seydou.
Exploration planned at the GB and Tienko permit applications – A further 12,015 surface geochemical samples and 4,400m of auger drilling are planned, subject to grant of permits.
15,000 metres reserved for discovery follow-up – 10,000m diamond and 5,000m RC drilling are held within the budget to rapidly follow up new discoveries generated by the program.
Toronto, Ontario--(Newsfile Corp. - September 22, 2026) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to announce the commencement of an 15-month regional exploration program across its
"Awalé's geologists are proven, discovery-driven explorers and mine finders, and we excel at this part of the business," said Andrew Chubb, President and CEO of Awalé Resources. "BBM, Charger, Empire, and now Fremen were all found the same way, by disciplined geology, geophysics and regional geochemistry, infill, and then drilling where the data supports it. Nothing glamourous, just dedicated people and boots on the ground across a district that we have consolidated. We are now able commit significant resources into our
"Our Odienné discoveries are not by accident; they are there for a reason. We are on a regional scale trend that that hosts multi-million-ounce gold camps in both Mali and Guinea, and which extends into our ground in Côte d'Ivoire. Importantly, we have the right mix of experienced people to find the next big gold camp.
"Rigs will be turning in Q4 after the monsoon rains and our geochemistry programs will continue where weather permits. As we push these programs, we have contingency in the budget, so that when something does come out from this pipeline, we can chase it immediately rather than wait for the next budget cycle. I am genuinely excited about what the next fifteen months could deliver."
The program will apply the same district scale targeting though systematic, geology-led exploration workflows that produced the Company's BBM, Charger, and Empire discoveries. Regional termitaria and soil geochemistry, with the introduction of auger drilling for accelerated staged infill and targeting followed by aircore (AC), reverse circulation (RC), and diamond (DD) testing. Work is already underway, with 8,509 termitaria and soil samples collected at Seydou and Sama.
Watch video of CEO Andrew Chubb Discussing the
Figure 1: Odienné Project - Permits and targets map
To view an enhanced version of this graphic, please visit:
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A Proven Discovery Workflow
Every discovery Awalé has made at Odienné has come from the same sequence, applied systematically and in order:
Regional geochemistry and geophysics – Termitaria and soil sampling on 800m by 100m grids to define anomalies at district scale.
Staged infill – Anomalous zones infilled first to 400m and then to 200m and 100m line spacing. This stage will be accelerated through the use of auger drilling, with shallow auger transects designed to see through the transported cover that masks bedrock geochemistry across much of the district.
Aircore, RC, and diamond drilling – First-pass bedrock testing of auger-confirmed targets, with diamond drilling for structural and geometrical control.
This is the same sequence that advanced Fremen from a termitaria anomaly to a drilled discovery in three phases between June 2025 and May 2026, along with the BBM and Charger discoveries using the same targeting discipline.
Regional Setting – Highly Prospective Trend
Odienné lies on a craton-scale structural trend (Figure 2) that can be traced for more than 1,000 kilometres through Guinea and Mali. At Odienné that trend runs along the northern margin of the Archean Man Craton (3.5–2.6 Ga), and three elements coincide within the Project area: the craton margin itself; the margin of the Birimian deepwater basin to the north and north-east (2120–2080 Ma); and a suite of late I-A type plutonic rocks and volcanics emplaced along that same northern craton margin (2100–2060 Ma). Bi-modal volcanic rocks are developed locally.
The Company's
That combination of a long-lived crustal structure, a craton-basin margin and a late intrusive suite is the architecture that hosts the major multi-million-ounce gold camps of the region. Deposits along the same trend include Barrick's Loulo-Gounkoto, AngloGold Ashanti's Siguiri, Allied Gold's Sadiola, PDI Gold's Bankan and Kiniero in Guinea, Nordgold's Lefa, Nioko Resources' Kouroussa, and Resolute Mining's ABC deposit, approximately 70 kilometres to the south.
Odienné is the least explored segment of this trend, and the Company's
Figure 2: Regional Geology – Southwest African Craton, showing major gold camps on a regional scale structural trend
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Program Details
Table 1: Planned Drilling by Permit and Drill Type
| Permit | Status | Auger (m) | Aircore (m) | RC (m) | Diamond (m) | Total (m) |
| Sienso | Granted | 4,200 | - | 6,500 | 9,560 | 20,260 |
| Seydou | Granted | 9,840 | 4,000 | 3,500 | 1,800 | 19,140 |
| Sama | Granted | 5,500 | 6,000 | - | 1,200 | 12,700 |
| Sub-total | 19,540 | 10,000 | 10,000 | 12,560 | 52,100 | |
| GB and Tienko | Under application | 4,400 | - | - | - | 4,400 |
| Sub-total | 23,940 | 10,000 | 10,000 | 12,560 | 56,500 | |
| Discovery contingency | Unallocated | - | - | 5,000 | 10,000 | 15,000 |
| Total | 23,940 | 10,000 | 15,000 | 22,560 | 71,500 |
Note: Planned metres are indicative and subject to results and rig and laboratory availability.
Table 2: Planned Surface Geochemistry
| Permit | Status | Total |
| Sienso | Granted | 280 |
| Seydou | Granted | 1,060 |
| Sama | Granted | 2,280 |
| Sub-total | 3,620 | |
| GB and Tienko | Under application | 12,000 |
| Total | 15,620 |
The 15-month exploration budget totals approximately US
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.
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
In addition to the current resource base defined on the joint venture ground, Awalé controls a 1,542 km2
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.
Abbreviations Used in this Release
| AC | Aircore |
| Au | Gold |
| Cu | Copper |
| DD | Diamond drilling |
| g/t | Grams per tonne |
| Ga | Billion years |
| km | Kilometres |
| M | Metres |
| Ma | Million years |
| Moz | Million ounces |
| RC | Reverse circulation |
AWALÉ Resources Limited
On behalf of the Board of Directors
"Andrew Chubb"
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
a.chubb@awaleresources.com
Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
a.keshishian@awaleresources.com
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/315323
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How is the 71,500 metres of drilling allocated by permit and drill type?
At Sienso (granted), the plan is 4,200m auger, 6,500m RC and 9,560m diamond drilling for a total of 20,260m. At Seydou (granted), the program totals 19,140m, comprising 9,840m auger, 4,000m aircore, 3,500m RC and 1,800m diamond. At Sama (granted), 12,700m is planned, including 5,500m auger, 6,000m aircore and 1,200m diamond. A further 4,400m auger is planned across the GB and Tienko applications, and 15,000m (5,000m RC, 10,000m diamond) is reserved as discovery contingency.
What is the planned breakdown of the US$8.5 million exploration budget?
The 15‑month exploration budget is approximately US$8.5 million, with about US$5.5 million allocated to drilling, around US$2.2 million to drill sample analysis, and roughly US$0.7 million to surface geochemistry.
What surface geochemical work is included in the program?
The program includes about 15,620 surface geochemical samples. Of these, 3,620 are planned on the granted Sienso, Seydou and Sama permits (280, 1,060 and 2,280 samples respectively). A further 12,000 samples are planned on the GB and Tienko permit applications, subject to those permits being granted. In addition, 8,509 termitaria and soil samples have already been collected at Seydou and Sama.
What drilling is planned at the Fremen discovery and what data are pending?
Approximately 5,960m of diamond drilling, in 14 planned holes, is scheduled at the Fremen discovery in Q4 following the wet season. Assay results from seven previously drilled holes at Fremen are still pending.
What is Awalé’s current mineral resource at the Odienné Project?
The Odienné Project hosts an initial inferred Mineral Resource Estimate of 1.71 million ounces gold equivalent across the BBM, Charger and Empire deposits, based on 32.4 Mt at 1.33 g/t Au and 0.33% Cu. This resource lies on the joint venture ground and is described as a foundation for ongoing growth and future economic studies.
How large is Awalé’s land position at Odienné and how is it held?
The Odienné Project covers 2,338 km² across seven permits. Of this, 1,542 km² is 100%-owned by Awalé, while 797 km² is held under the Awalé–Newmont joint venture, for which Awalé manages exploration activities.