VANCOUVER, BC , Dec. 15 2020 /CNW/ - Awalé Resources Limited (" Awalé " or the " Company ") (TSXV: ARIC) is pleased to report further exceptional gold results from the phase 2 drill program at the Empire gold discovery and extension targets (Figures 1 & 2). Assays are reported for 9 drill holes completed at the Empire Main discovery, including holes OED-031 & OEDD-32, which successfully intersected a previously untested high grade NE trending vein array with wider and multiple lodes of gold mineralization. Initial results have also been received from a further 43 scout holes ( 3,602m of drilling) drilled over the initial 3km of extension targets along the 20km Empire Trend.

RC Drilling is ongoing with only 3 holes to complete and once finished, a further 5 diamond holes are planned to test steep plunging mineralization at Empire Main. Following initial high grade scout drilling intercepts at Anomalies 1 and 2, company geologists are currently working on understanding the geometry of the mineralization and alteration intercepted for the next phase of drilling.

DRILLING HIGHLIGHTS – Empire Main

OEDD-32: Drilled from NW to SE, successfully targeting a NE trending/NW dipping vein array as well as the known east -west trending vein array – multiple lodes intercepted (Figures 3 & 4).
• 10m at 1.6 g/t grams per tonne gold ("g/t Au") Au from 67 metres ("m") - Northern Lode
• 22m at 3.8 g/t Au from 92m including 1m at 44 g/t Au from 104m , within a broader interval of 36m at 2.7 g/t Au from 89m .
• 7m at 2.4 g/t Au from 136m , within a broader interval of 12m at 1.8 g/t Au from 131m .

OEDD-31: Drilled from North to South between OEDD-09 and OEDD16 – Successfully testing for shallow northern lode as well as postulated NW dipping vein array. This hole intercepted multiple gold-bearing lodes (Figure 5).
• 16m at 2g/t Au from 45m (Northern Lode)
• 11m at 2.5 g/t Au from 61m including 1m at 10.4 from 74m
• 15m at 1.6 g/t Au from 85m including 1m at 9.3 from 95m
• 4m at 2.7 g/t Au from 118m including 1m at 7.1 g/t Au from 120m
• 1m at 8.8 g/t Au from 139m

OEDD-22: West step out hole from Discovery hole OEDD-1 – opening the mineralized system to the northwest
• 4 meters at 3.6 g/t Au from 55 m including 1m at 8.3 g/t Au from 55m

OEDD-28: 40m Down dip of OEDD-22
• 1m at 11.3 g/t Au from 109m

Note: Drill intervals are reported as down hole, true widths are approximately 75 to 80% of the downhole interval – all intercepts are calculated with a 0.5 g/t Au trigger including 2m of internal waste, high grade intercepts are reported as individual assays or intervals calculated at a 1 g/t trigger value.

Empire Main is a robust mineralized system, holes OEDD-31 and OEDD-32 have demonstrated the presence and importance of the postulated north east vein array, this orientation opens the mineralization model to an additional steep southwest plunge on mineralization (long section Figure 6). Further to the down plunge target, hole DD-26 and DD-27 at the eastern extent of current drilling at empire main have revealed a rapid truncation of the mineralization and the diorite host, A northwest offset target is now being drilled to the north of these holes.

A full list of significant intercepts for this release is given in Table 1.

DRILLING HIGHLIGHTS – Extension Target Scout Drilling

Results have been returned from 3,602 meters of scout drilling in 43 holes over three targets strike south east of the empire main discovery (Anomalies 1, 2 and 3; Figure 2). Drilling is ongoing at Anomaly 1. Drilling at Anomalies 1 and 2 have intercepted multiple mineralized zones associated with sulphide and alteration. The campaign is showing potential mineralized trends at Anomaly 1 and 2 with target geology and high grade gold results within these trends. Awale geologists are currently working to ascertain the geometry and control of the systems at Anomaly 1 and 2 preparing for the next phase of drilling.

Anomaly 1 has intercepted a deformed package of volcaniclastic and sedimentary rocks which are variably sheared and altered. Hole OEDD-57 has returned an encouraging first pass intercept of:

OEDD-57 - 6m at 2.2g/t Au from 38m (including 1m at 5 g/t Au from 39m and 1m at 5.2 g/t Au from 41m ) and 2m at 1.4g/t Au from 48m ,

These intercepts are contained within a 12 meter wide alteration zone and holes OERC-65, OERC66 and OERC67 on a step out line 160 meters west have intercepted similar alteration veining and sulphide to the mineralization in OERC-57.

At anomaly 2, modelled geology has been intercepted with hole OEDD-20 confirming a diorite intrusive host within a package of altered and deformed volcano sedimentary rocks and carbonaceous mudstones. Encouragingly, the alteration at the footwall contact of the diorite reflects closely of that observed at Empire Main with a 7m wide deformation zone with biotite and calc-silicate alteration with minor sulphide (pyrite) and visible gold in c. 5cm quartz veins. Hole OERC-48 is drilled 100m strike SW of the mineralization in OEDD20 and displays biotite and silica sulphide alteration along a contact between silicic volcanic rocks, and has returned 1 g/t Au from 89m

Best results returned from this alteration zone include
• OEDD-20 - 1m at 1g/t Au from 66m (within a broader intercept of 4.1m at 0.3 g/t Au from 66m ) and 1m at 4.7 g/t Au from 85m .

A full table of significant intercepts is available in table 2

LINK: SEE FIGURES 1 TO 6: http://www.awaleresources.com/_resources/maps/2020-12-15-NR-Figures.pdf

Company CEO Glen Parsons commented today:

"The robust nature of mineralisation at the Empire Discovery at Odienné continues to develop with this program further confirming the presence of a high grade gold system. Holes from Empire main continue to deliver high grade gold mineralisation and 22 metres at 3.8 grams gold in hole OEDD-32 complements the previously reported gold mineralisation.

Turning the rig to drill from south to north has proven very successful revealing a new NNE-NE gold mineralised vein orientation. This was tested with holes OEDD-31 and OEDD-32 which displayed visible gold and more robust and consistent mineralisation than previously reported drill holes from the prospect. More excitingly the presence of this NNE to NE gold mineralised vein array opens potential for steeply SW plunging lodes that complement the known shallow plunges tested in this program. 5 diamond drill holes have been added to the current program to test this new gold mineralised orientation.

New mineralisation intercepted at the Anomaly 1 and Anomaly 2 extension targets is particularly encouraging and the initial results form a nucleus for potential new discoveries at Empire. Observed geology and alteration in drill cuttings reflect the modelled geology from our systematic exploration work.

At Anomaly 2 OEDD-20 intercepted visible gold and grades up to 4.8 g/t gold in footwall alteration of a target diorite body similar to Empire Main. Anomaly 1 is still being drilled and hole OERC-57 has intercepted 6 meters at 2.2 g/t gold including two 1m intervals at 5 g/t Au and 5.2 g/t Au, 6 additional RC holes have been added to follow up this new mineralisation.

Further to the continued high-grade results and opening of new mineralisation orientations at Empire Main, it has been pleasing to see the initial scout drilling results starting to bear fruit on the extension targets. We look forward to completion of the RC program and results flow from Anomaly 1 as well as recommencing deeper diamond drilling at Empire main. The additional holes at Empire main are expected to be completed by late January.

Awalé is in the process of testing the first 3km strike from the Empire Main discovery, a mere fraction of the >20km long Empire structure. Furthermore, we continue to systematically explore and extend new targets that are being generated along this exciting mineralised shear zone as well as the greater mineralised north-west Corridor within our Odienné permit.

The pipeline of assays from completed holes is now in motion and we look forward to continued reporting of results as and when they are received."

Since the previous release, and the Election period hiatus RC Drilling recommenced in the first week of December and continues. At the time of reporting 47RC and 4 diamond holes for 4,282m have been completed over the Empire Extension targets. Drilling continues with approximately 500 RC meters left to complete in 6 holes. Five (5) additional diamond holes for c. 1200m have been planned for Empire main and this is expected to be completed in late January. The company expects results flow to continue for the remaining RC drilling along with Auger geochemistry from Empire and the new Charger Prospect.

Follow - Up Exploration Plan at Odienné

Awale remains confident of the upside potential of the Empire Structural trend and has an aggressive ongoing campaign for the remainder of 2020 and Q1 2021. The near-term focus for the Odienné project is as follows:
• Testing steep plunge model for Empire Main – c. 1200m of diamond drilling – targets shown as highlighted panels in the long section in Figure 6.
• Detailed interpretation and understanding of the first pass intercepts from scout drilling at Anomalies 1 and 2, as well as anticipated further results from anomaly 1 – follow up drilling.
• Test and understand potential eastern offsets from Empire Main as well as western extension targets. A 500m gap exists between current drilling at Empire main and Anomaly 1 and the western extension of the empire structure. A program of 240 Auger holes for 964m was completed on the 8 th of December as a targeting exercise next phase of drilling at Empire Main. Further to this a New parallel structural target to Empire is being Auger drilled c. 3 km to the NNE of empire main. This will feed into the next program scout drilling over the greater empire structure.
• Completion of Auger drilling and mapping at the Charger prospect approximately 3km north of Empire. The charger prospect returned up to 1677ppb in legacy soil sampling within an 600m long greater than 100ppb anomaly. Initial mapping has revealed diorite body central to the prospect area that is bound by a package of basalts and intermediate volcaniclastics and tuffaceous rock.

Table 1: Significant gold Intercepts in grams per tonne gold for all assayed holes in the current program.

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