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Awalé Hits 10.6 g/t Gold Over 57 Metres as Charger Outgrows Its Resource

A 210-metre step-out ties Charger 1 and Charger 2 into one system, open at depth, outside the May resource wireframe at Newmont-backed Odienné

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Awalé Hits 10.6 g/t Gold Over 57 Metres as Charger Outgrows Its Resource

Some drill holes confirm a model. Others redraw it.

Awalé Resources Limited (TSXV: ARIC; OTCQX: AWLRF; FSE: 2F60) says hole CHDD-68 at the Charger deposit in Côte d'Ivoire returned 10.6 g/t gold over 57 metres from 148 metres downhole, and that it now views Charger 1 and Charger 2 as a single continuous system rather than two neighbouring targets.

The hole is loaded. Within the 57-metre interval, CHDD-68 cut 7.7 g/t gold over 27 metres from 150 metres, including 18.8 g/t over 7 metres from 170 metres, and then 19.6 g/t over 20 metres from 183 metres, which itself includes 29.0 g/t over 13 metres from 189 metres. It sits about 210 metres southwest of the original discovery holes, OEDD-83 (26 g/t over 57 metres from 164 metres) and OEDD-100 (14.7 g/t over 59 metres from 143 metres).

The supporting holes are respectable rather than spectacular. CHDD-32 returned 3.5 g/t gold over 28 metres from 146 metres, including 12.3 g/t over 5 metres from 151 metres and 6.1 g/t over 2 metres from 168 metres, plus a separate 8.6 g/t over 2 metres from 179 metres that includes a one-metre sample of 15.6 g/t. CHDD-36 returned 3.0 g/t over 18 metres from 211 metres, including 7.2 g/t over one metre from 211 metres and 5.3 g/t over 7 metres from 222 metres. Three holes, CHDD-38, CHDD-39 and CHDD-70, returned no significant intercepts.

All intervals are downhole lengths. The company estimates true widths at Charger 1 at about 70% of downhole widths, but says true widths at Charger 2, where CHDD-68 was formerly targeted, are not yet known. Samples were assayed by Intertek in Ghana and Australia.

Why it matters: this mineralization lies outside the Charger wireframe used in Awalé's May 2026 mineral resource estimate. That estimate gave the Odienné Project an inferred 1.71 million ounces of gold equivalent in 32.4 million tonnes grading 1.64 g/t AuEq, with Charger contributing an underground inferred resource of 1.6 million tonnes at 4.64 g/t AuEq, or about 232,000 ounces AuEq. Awalé now describes Charger as roughly 300 metres along strike and 400 metres vertically, open at depth and along strike. CEO and qualified person Andrew Chubb said: "We believe Charger has room to grow beyond the current MRE."

The holes are part of a 50-hole step-out program at 20-metre spacing, drilled from the southwest edge of Charger 1 toward Charger 2. Results for 27 more Charger holes are pending, holes are testing up to 120 metres down-plunge of CHDD-68, and results from the larger BBM gold-copper deposit are expected in the coming weeks.

The market approved, if politely. By late morning Wednesday, Awalé shares were up six cents, or 8.5%, at C$0.77, trading between C$0.74 and C$0.78, with about 271,000 shares worth roughly C$202,000 changing hands across Canadian venues as of 11:25 a.m. ET. That still leaves the stock well short of its 52-week high of C$1.18.

Awalé has company in its corner. The Odienné Project spans about 2,338 square kilometres across seven permits, including 797 square kilometres under a joint venture with Newmont that Awalé manages and Newmont funds under a 2022 exploration agreement. In August, Awalé closed a C$20.7 million strategic financing with Predictive Discovery, Fortuna Mining and Newmont, leaving Newmont with about 8.2% of the company and Awalé with more than C$36.5 million in cash, The Prospector News reported. Newmont paid C$0.85 a share in that round, which means even after Wednesday's gain the stock trades below what a major was willing to pay three months ago.

Now the caveats. This is a depth story, not a surface one: the best intercepts start between 146 and 211 metres downhole, and Charger is currently modelled as an underground resource. The entire Odienné resource is in the inferred category, there is no economic study yet, and true widths at the Charger 2 end remain undetermined. Half of the six holes reported here returned nothing of note, a reminder that high-grade systems tend to be lumpy.

Sources:

Disclaimer:

Neither the author of this article nor JuniorStocks holds equity, stock options, or any other financial positions in Awalé Resources Limited (TSXV: ARIC; OTCQX: AWLRF; FSE: 2F60) or any other companies mentioned in this publication. This content is published by JuniorStocks strictly for informational purposes, was prepared independently without company compensation, and utilized AI assistance for text editing, formatting, and generating accompanying media. While a growing high-grade gold system at Charger, outside its current resource, represents a compelling exploration story, this article does not constitute investment or financial advice. Investors are strongly advised to conduct their own thorough, independent due diligence and consult with a qualified financial professional before making any investment decisions.

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