For Colossal Gold's Northwest
Goliath Project in Suriname
VANCOUVER, BC, Dec. 15,
2022 /CNW/ - Awalé Resources
Limited ("Awalé") or the "Company") (TSXV: ARIC)
is pleased to announce the Company has filed a technical report
(the "Report") regarding the Northwest Goliath Project in
Suriname. This prospective gold project, along trend from the
Rosebel Mine in Suriname, forms part of the acquisition of Colossal
Gold Resources Limited ("Colossal") by Awalé (the
"Acquisition") pursuant to a letter agreement dated
September 12, 2022 between Awalé,
Colossal and the shareholders of Colossal. The Report was
prepared pursuant to the policies of the TSX Venture Exchange
("TSXV") and in accordance with National Instrument 43-101 –
Standards for Disclosure for Mineral Projects.
The Acquisition is conditional on, among other matters, the
Company satisfying the requirements outlined in the TSXV's
conditional acceptance letter in compliance with TSXV Policy 5.3
which the Company is in the process of completing (refer news
release date October 11, 2022).
A copy of the Report is available for review on both
SEDAR (www.sedar.com) and on the Company's website
at www.awaleresources.com.
About Awalé Resources
Awalé is an exploration company focused on the discovery of
large high-grade gold and copper-gold deposits. The Company
currently undertakes exploration activities in the underexplored
parts of Côte d'Ivoire. Awalé's success to date at the Odienné
Project in the Northwest of Côte d'Ivoire has culminated in a fully
funded earn-in Joint Venture with Newmont (the "Newmont JV")
covering the Odienné Project where two primary targets for
world-class discoveries have been made: i) the gold-rich Empire
corridor and ii) the recently defined Charger, Sceptre and now Lando Iron Oxide Copper Gold
("IOCG") targets. Parts of the remaining 200km2 of
granted tenure and 400km2 under application remains
underexplored and offers significant IOCG potential. The Newmont JV
forms the solid foundation for the Company to continue looking at
new opportunities in new jurisdictions which offers significant
potential for district scale discoveries. Awalé is currently in the
process of completing the acquisition of Colossal Gold Resources, a
private company with a highly prospective gold exploration
portfolio in Suriname, which provides an excellent strategic fit
and future growth potential for Awalé.
ON BEHALF OF THE BOARD
AWALE RESOURCES LIMITED.
"Glen
Parsons"
Glen Parsons,
President and
CEO
Forward-Looking
Information
This news release contains "forward-looking information" within
the meaning of applicable securities laws. Readers are cautioned
not to place undue reliance on forward-looking information. Actual
results and developments may differ materially from those
contemplated by such information. The statements in this news
release are made as of the date hereof. The Company undertakes no
obligation to update forward-looking information except as required
by applicable law.
Cautionary Statement
NEITHER 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
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content:https://www.prnewswire.com/news-releases/filing-of-ni-43-101-technical-report-301704187.html
SOURCE Awale Resources