• Awalé will launch 100,000-meter drilling at Odienné gold project
• Goal: define first resource by 2026, PEA due mid-2026
• Newmont may acquire 65% stake pending exploration results
  

Canadian junior miner Awalé Resources plans a 100,000-meter drilling campaign this October at its Odienné gold project in Côte d’Ivoire. The program, announced last Friday, aims to outline the site’s first gold resource by 2026.

The campaign will focus on resource definition and discovery drilling across the BBM, Charger, and Empire prospects, using five rigs expected to operate through 2026.

While Awalé did not disclose the cost, the company said it has C$15 million (US$10.7 million) in cash to fund the work.

After several years of exploration aimed at understanding the site’s geology, Awalé now plans to fast-track development of the project.

Finding a deposit would mark a key milestone, paving the way for studies to assess the feasibility of a future mine.

Awalé expects to complete a Preliminary Economic Assessment (PEA) in Q2 2026, followed by a pre-feasibility study in 2027.

If successful, the plan could help position Odienné as a contributor to Côte d’Ivoire’s expanding gold sector, which is projected to reach 100 tonnes of annual output by 2030, up from 58 tonnes in 2024.

In 2023, Newmont, the world’s largest gold producer, signed an option agreement with Awalé to acquire up to 65% of the project, contingent on US$15 million in exploration spending and the discovery of at least 2 million ounces of gold resources.

Aurel Sèdjro Houenou