Northwire Canada EditionWednesday, November 11, 2026
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Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1% Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1%
Drill Results

Awale Hits 10.6 g/t Gold over 57 Metres, as Charger Merges into One Continuous System

Charger 604 g.m step-out expands high-grade system beyond MRE

By The Northwire Desk — AI Analysis Nov 11, 2026 · 07:01 ARIC · 0.71 Awale Resources Limited
Executive Summary
  • Awalé reported assay results from six diamond holes at Charger within the Odienné Project in Côte d’Ivoire, including three significant holes and three holes with no significant intercept.
  • CHDD-68 returned 57.0 m at 10.6 g/t Au from 148 m downhole. The release reports within that interval 27.0 m at 7.7 g/t Au from 150 m, 20.0 m at 19.6 g/t Au from 183 m, 13.0 m at 29.0 g/t Au from 189 m, and 7.0 m at 18.8 g/t Au from 170 m.
  • CHDD-32 returned 28.0 m at 3.5 g/t Au from 146 m, including 5.0 m at 12.3 g/t Au, 2.0 m at 6.1 g/t Au, and 2.0 m at 8.6 g/t Au.
  • CHDD-36 returned 18.0 m at 3.0 g/t Au from 211 m, including 1.0 m at 7.2 g/t Au and 7.0 m at 5.3 g/t Au.
  • CHDD-38, CHDD-39, and CHDD-70 returned no significant intercepts.
  • The company says CHDD-68 is 210 m southwest of discovery holes OEDD-83 and OEDD-100 and lies outside the Charger resource wireframe in the May 2026 MRE.
  • The release states Charger 1 and Charger 2 are now interpreted as one continuous system over about 300 m of strike and about 400 m vertically, remaining open at depth and along strike.
  • The holes are part of a 50-hole, 20 m-spaced step-out program. The release reports 27 Charger holes still pending.
Material Impact
  • This is a step-out outside the current MRE at Charger. The current Charger resource is small: 1.6 Mt at 4.64 g/t AuEq for 232 koz AuEq. A 57 m high-grade intercept outside that wireframe, if connected, could add meaningful high-grade tonnes.
  • The expectation anchor is the 27 October 2026 release that first connected Charger 1 and Charger 2. That release carried 25 m at 8.7 g/t, 28 m at 7.0 g/t, and 49 m at 4.7 g/t. The stock moved from $0.63 on 26 October to $0.69 on 27 October and was $0.71 on 10 November. That is not an embedded, doubled anchor. The market has not fully priced a repeat of the discovery holes.
  • CHDD-68 is materially better than that recent anchor on grade-times-width. It is also outside the MRE. For an explorer with an initial 1.71 Moz AuEq inferred resource and a market capitalization around C$101.8M, a high-grade step-out of this size is material to the growth thesis.
  • The negative offsets are real: true width is unknown, CHDD-70 is no significant about 40 m away, three of six holes in the release are no significant, and 27 Charger holes remain pending. The release does not yet prove a large continuous volume.
  • I would expect a positive share-price reaction, plausibly in the 10-20% range on a risk-adjusted basis if the market focuses on the 604 g.m step-out and the 300 m connection. The rating is therefore Material - Positive rather than Routine.
ARIC · Price
Company Overview
  • Awalé Resources is a TSXV-listed gold and gold-copper explorer focused on the Odienné Project in Côte d’Ivoire.
  • The project covers about 2,338 km² across seven permits, including about 1,542 km² of 100%-owned ground and 797 km² under an Awalé-Newmont joint venture. Newmont sole-funds the JV exploration and can earn up to 75%, so Awalé’s attributable interest in JV resources is lower than 100%.
  • The initial inferred MRE is 32.4 Mt at 1.64 g/t AuEq for 1.71 Moz AuEq, including 1.389 Moz Au and 93,000 t Cu. BBM is the cornerstone at 27.8 Mt at 1.52 g/t AuEq for 1.36 Moz AuEq. Charger is 1.6 Mt at 4.64 g/t AuEq for 232 koz AuEq. Empire is 3.0 Mt at 1.23 g/t Au for 119 koz Au.
  • Strategic shareholders include Newmont at about 8.2%, Fortuna Mining at about 14.7%, and Predictive Discovery at about 11.8% after the 2026 financings.
  • Prior-period financial context: Q2-2026 as-reported financials show a net loss of US$1.22M for the six months, cash of US$14.9M at 30 June 2026, no debt, and positive working capital. Subsequent company releases in July and August 2026 report over C$36.5M in cash after financings. The company is pre-revenue and funds exploration through equity and the Newmont JV.
  • The 2026 exploration program is large: a fully funded C$12M, 71,500 m program across the 100%-owned ground, plus the JV-funded resource and discovery drilling. The release under analysis is part of that broader campaign.
Read the original news release →

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