Awale Resources Ltd Advances Exploration on the Odienné Project

On 16 December 2025, Awale Resources Limited (TSXV: ARIC, OTCQX: AWLRF, FSE: 2F60) announced the launch of a 15 000‑metre drilling program at its Odienné gold project in Côte d’Ivoire. The initiative is aimed at uncovering new mineralized zones within the company’s 100 %‑owned permits and is fully funded by an $8 million exploration budget for 2026, backed by approximately $15 million of treasury reserves.

Program Scale and Execution

  • Drilling scope: Eight drill rigs are presently positioned at Odienné, with one rig dedicated exclusively to the company’s fully owned permits. The program targets a cumulative 15 000 metres of exploration drilling, a significant increase over prior efforts and reflective of Awale’s commitment to scaling discovery work in the region.
  • Survey support: Detailed aerial magnetic and radiometric surveys have already been completed, providing a robust framework for pinpointing potential gold-bearing zones.
  • Supplementary sampling: Four termite‑sampling teams are actively operating across the Sama and Seydou permits, leveraging biogeochemical techniques to identify surface indications of mineralization that could guide deeper drilling targets.

Strategic Context

The Odienné Project sits within a regional‑scale mineralized system that remains largely unexplored. Awale’s decision to concentrate resources on its 100 %‑owned permits aligns with its broader strategy of maximizing value from fully controlled assets, reducing exposure to joint‑venture constraints and ensuring full upside potential. The company’s recent financials—market cap of CAD 67.3 million and a current share price of CAD 0.65—suggest a disciplined approach to capital allocation, with a price‑earnings ratio of –21.55 underscoring the exploration‑heavy nature of the business.

Forward‑Looking Implications

  • Discovery potential: Successful results could establish new high‑grade gold zones, reinforcing the economic viability of the Odienné Project and positioning Awale for future production scaling.
  • Capital efficiency: With a dedicated $8 million exploration budget and substantial treasury support, Awale demonstrates strong financial resilience, enabling it to absorb the inherent risks of deep drilling while maintaining operational momentum.
  • Market positioning: By advancing a comprehensive 15 000‑metre program, Awale signals to investors and industry peers that it is aggressively pursuing growth, potentially enhancing shareholder value once discoveries are confirmed.

In sum, Awale Resources’ 15 000‑metre drill program marks a decisive step toward unlocking the full potential of its Odienné assets. The company’s focused investment strategy, combined with a robust technical foundation, positions it to capitalize on new discoveries that could reshape its trajectory in the gold mining sector.