Gold news

 it's I'm Marilyn dezman with investing news.com I'm speaking with Andrew chub CEO of aali resources about the progress of the company's golden copper project in West Africa great to have you Andrew thank you very much maryn um really great to be here with you thank you so you announced recent uh assay results from the Oden project and there are some significant things there talk about the highlights of these results yeah for sure so in the last two weeks we've announced some pretty pretty

nice results so um follow up on a new discovery at a at a Target we call BBN um which uh is is uh We've we've now drilled 18 holes and and uh got mineralization in all those holes but um a really nice um uh start to a to something that actually sits on an 8 km long anomaly so there's more targets uh to to drill a long strike from that as well but uh it's it's it's a nice sh Zone hosted um copper gold malum silver mineralization that we've got and um something that you know we're we're

about to start the rigs on um very very soon probably in the next week to 10 days we'll be drilling uh at BBM again and then the other one was you know we announced on Monday which you know was something that uh you know I really um beyond beyond any anything I imagined that that I would ever drill in my in my career so you know uh 32 M of solid mineralization sort of with no real nugget big nugget in the middle of it at at um uh I think it was 45 46.5 or grams it's uh you know it's it's a really

really significant uh drill hole and we were we were testing a new sort of 3D framework at that Target we drilled holes there and got you know 50 to 100 meter gram intercepts but the the the the the the the sort of 3D wasn't speaking properly so we we we adjusted our interpretation and and went in to test that and and found it's a it's a breta system and we found a new breter pipe and got and got the broadest intercept of the actual geology that we have and and uh 57 M of mineralization

at 26 and within that that 32 M at at at um higher grade as well so that's really exciting stuff for us and and sort of opens up that Target for um you know joining the three breader pipes that we've that we've drilled together and and and rapidly creating you know volume uh you know there as well so you know we'll be drilling on that Target um you know short as well so um in the in the same time frame and that in that next week's 10 days we'll we'll be opening up drilling at at both big and charger and

and the important thing about to look the biggest thing for us is that we are we believe that we are sitting on a big um gold copper system and and you know there are are other discoveries that we've had within within that system as well there are two other discoveries and and and you know it's really evolving into what looks like a big um a big has the potential to be a big Camp a big mine camp in in West no so s you know what you've discussed really it's really not hard to know why you've made this

your your Flagship project um and it's the only project that you're currently focused on what can you maybe talk a bit more about some background about this property what makes this a compelling asset and also if you want to you know uh talk about uh West Africa uh as a jurisdiction for for your project um for sure I mean uh the the first part of that is is that I think as a geologist um you you you imagine finding something like this and and it's probably something that I I feel like it

might be you know a once- in a career um um sort of thing that we were that we were starting to coton onto and we actually came up with a new sort of I won't go into the geology detail but but we came up with a new mization model there we got newon to buy in on on the new mization model and that's why they joined vent it on two of the permits that we hold in the district we actually hold um it's a big District scal play with 2 and a half th000 square kilometers of permits and two and and

800 only 800 kilometers is actually join ventured with numot in two permits and and so you know when I when I took over as CEO I was able to sort of bring that vision and that idea that the company should be should be absolutely focused on this project because the project already was showing that it had the had the potential to to Really deliver um the results that we're you know the the things that we're delivering now um and incl you know like I said that that drill hola charger like it it every time

I think about it it blows me away it's it's it's just um some I've never seen something like that in in my career I've been operating in in in West Africa for solidly since 2010 I actually lived in bin Faso for for 5 years so fairly aware of the the the um sociopolitical environment as well as the geology of West Africa now um and and yeah I mean things things have changed in in some of the countries um to the north of kot where we are um but you know each of those countries operates as their own

individual country um and and cod d itself is is um has always been kind of a a burining economic Powerhouse in in in West Africa um it's got two two ports it's got really good infrastructure it's got a good electricity infrastructure um they've got a lot of you know foreign investment um from many different countries um and and and their economy is is they've always had a a strong farming based economy they've been a big um they've been one of the biggest cocoa producers on the planet

for many years along with cashews and and other things that be exporters of of those products but they changed the mining code in in in 2012 and it became a a better framework for for um for uh companies to operate under and and through that there's been more um money spent on exploration in COD deoir since 2012 and um they've rapidly expanded as well so there's been many new minds develop in that in that time frame in in code toire as well so it it it really is an attractive jurisdiction from from uh

from that perspective and you may mentioned your uh JV with neww earlier could you provide a little bit more details on what that uh the details of that JV and um why that's uh sort of significant for your company um look um the the joint V with new mod has been fantastic because you know raising money uh on on the capital markets has been you know raising Equity has been extremely difficult and and it it gave it like we signed that the joint venture with Newmont was signed in in mid 2022 and and since then we've spent $5

million uh on that on in in within the joint venture permits and and that and that is what's allowed us as a company I mean they they we operate um and and uh we come up with the exploration plans and and and all that and all those things and and Jo num's been funding um they have a couple of guys that have been associated with it and are intimate with with the project as well that that um have have you know we we discussed the project but effectively you know the two companies have always been aligned

on where it needs to go from that technical perspective but but what in in in a nutshell in in in that difficult time of you know raising money on the capital markets it's allowed a to have um a fully funded project that we could do really good systematic Grassroots exploration and and and C you know it you you you don't just find the these things you actually have to do um systematical exploration do geophysics do all these things and that all cost money to to build those drill targets

but then we've also had the funding to drill them and and create these discoveries so the there had before a went into this project there hadn't been a whole drill um the only data was was rang gold had done um Regional soils over a portion of the project um back in the mid90s and and and you know that was one of the first things I used to to to as as a tool in there along with some Regional geophysics and things but having that joint venture is what really has allowed us to to drive that project

forward and the capital markets by giving us the ability to do so what's the next step for the audian project uh plans for 2024 uh a lot of drilling so we've we've got uh 25,000 MERS of drilling planned at the moment um we've got a $3.5 million budget uh approved from Newmont uh for the for the year um we um we and so we'll be advancing the the BBM Discovery and and um the new um model that we've got for um as well as um in in the background trying to bring along some of the other

targets behind that but but you know there there will be at the moment a focus on on those BBM and charger T targets but but like I say and then a smaller portion of the budget will go into moving along uh the other Targets in the background and and with the idea of um even more intensive drilling uh in in in into 2025 okay well thanks again Andrew for joining me today and sharing your company news thank you very much marym um really great to be here with you thank you and thanks everyone for watching join us

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