Awale Hits 43.7 g/t Gold Equivalent Below the BBM Open Pit with Initial Deeper Holes Pointing to Underground Growth
Awale’s deep BBM hole confirms a steepened high-grade core with a narrow bonanza inclusion but missing true width.
Awale Resources Limited has reported strong gold-copper mineralization intersected by the first two holes of its 12-hole deep drill program at the BBM project, located below the open pit.
Hole BBDD-31 returned 7 meters at 7.21 grams per tonne gold equivalent (AuEq) from 385 meters downhole, including 1 meter at 43.68 grams per tonne AuEq, marking the highest grade ever recorded at BBM. Hole BBDD-30 intersected 46 meters at 2.35 grams per tonne AuEq from 364 meters, including 17 meters at 3.41 grams per tonne AuEq.
These intercepts were calculated using a 0.5 grams per tonne gold trigger with up to 3 meters of internal waste. The AuEq calculation assumes US$3,000 per ounce for gold, US$4.34 per pound for copper, 86% gold recovery, and 93% copper recovery.
Seven rigs are currently active on site, and ten remaining holes from this program are at the laboratory with assays pending.
Awale Resources Limited (ARIC) is a junior explorer that recently announced an initial Mineral Resource Estimate (MRE) of 1.71 moz AuEq, which includes a BBM underground resource of 6.3 Mt @ 2.01 g/t AuEq. The company is currently conducting step-down drilling below the existing resource to add an underground component, a concept the market has already partially priced in.
The stock peaked at $1.15 in February 2026 following a series of high-grade Charger and BBM intercepts, before falling to $0.74 ahead of the recent news. This decline reflected disappointment regarding the MRE scale or grade. A strategic placement by PDI at C$0.85, representing a 10% premium to the VWAP, has established a valuation anchor.
Recent drilling results include BBDD-30, which returned 46 m @ 2.35 g/t AuEq, a result in line with or slightly better than the existing underground resource grade. BBDD-31 returned a high-grade spur that remains unconfirmed. Together, these results are positive but not transformational, confirming the geological model and keeping the story alive. The key uncertainty remains whether the ten pending holes will continue to show economic width and grade.
Confidence in the results is tempered by the reliance on an uncapped 1 m assay for the “highest grade” headline, combined with missing true width and QA/QC details.
Awalé Resources Limited (ARIC) is a Côte d’Ivoire–focused gold-copper explorer. The Odienné Project covers 2,346 km² across seven permits, with key assets held in a joint venture with Newmont. Newmont earns 75% of the project, currently holding a 61% interest, and is sole-funding the venture. The joint venture covers the BBM, Charger, and Empire deposits, which host an initial Inferred Resource of 32.4 Mt at 1.64 g/t AuEq for 1.71 moz AuEq, including 1.39 moz Au and 93 kt Cu. BBM serves as the cornerstone asset, containing 27.8 Mt at 1.52 g/t AuEq.
Awalé also holds 1,550 km² of 100%-owned ground featuring early-stage discoveries at Fremen and Seydou. The company is well-funded with over $30M pro-forma following the PDI investment. It is targeting a Preliminary Economic Assessment (PEA) in Q3 2026 and a Pre-Feasibility Study (PFS) in 2027.