Drilling Results
19/12/2024 07:00
19 December 2024 BWA Group PLC (“BWA”, or the “Company”) Drilling Results Infill and Exploration Drilling and Analytical Results at Dehane 2 Heavy Mineral Sands Project, Cameroon BWA Group plc [AQSE: BWAP], which has mineral exploration permits in Cameroon, mining claims in Canada, and is quoted on London’s AQSE Growth Market, provides results from its recently completed exploration drilling programme at its Dehane 2 rutile sands permit, located in the South Region of Central Cameroon (“Dehane 2” or the “Dehane Project”), initially reported on 27 February 2024 (BWA Group Plc - Reconnaissance Drilling at Dehane 2 Heavy Mineral Sands Project, Cameroon (https://www.aquis.eu/stock-exchange/announcements/4488530)). The Dehane Project is located 166 km southwest of Yaoundé, and 70 km from the deep seaport and industrial zone of Kribi (Figure 1). The D2 licence covers an area of 54 km2. It includes 14 km of strike length of the Nyong river system, an area known to be prospective for Rutile, Ilmenite, Zircon and Kyanite heavy mineral sand (HMS) mineralisation. Moreover, the licence covers some 20 km of the mouth of the Nyong River as it empties into the Gulf of Guinea and adjacent sandy beach-setting coastline. The beach swash zone and the area extending inland by up to 150 m were the target for the 79-hole exploration drilling being reported herein. The drilling programme was carried out between 9 September to 10 October 2024. A total of 79 holes were drilled for 429.90 metres and 160 primary samples. The programme targeted the areas south of the mouth of the Nyong and where sampling completed by BWA in 2023 identified anomalous HMS mineralisation (BWA Group Plc - Reconnaissance Drilling Heavy Mineral Separation and Analytical Results at Dehane 2 (https://www.aquis.eu/stock-exchange/announcements/4642149)). An enhanced version of this announcement, including figures, maps and tables can be viewed on the link below. Highlights Seventy-nine (79) holes were drilled for 429.90 metres and 160 primary samples. The highlights of heavy mineral separation studies and X-ray diffraction (XRD) analyses on the samples are presented below: * HMS mineralisation encountered from the surface down to the basement occurring at depths around 6-10 m. * Total Heavy Mineral (THM) raw sample grades up to 20.4% (16.4% VHM - kyanite, rutile, ilmenite, garnet and zircon) over 2 metres thickness. * THM and VHM significant interval grades up to 8.3% and 6.3% over 6 metres. * THM significant thicknesses up to 10 m at 3.3% (1.6% VHM) and 7 m at 3.4% (2.1% VHM). * Average slime of 3.9%. * Results outline a >1% coherent VHM exploration near surface target area of approximately 12 km x 0.25 km aerial extent and average five metres of thickness. Jonathan Wearing, Chairman of BWA Group Plc, commented: “The drilling results from the BWAR Dehane 2 licence are promising and reinforce the BWA Board's confidence in the presence of heavy mineral sands (HMS) mineralisation that may unlock future economic potential. The percentages of total heavy minerals (THM) and valuable heavy minerals (VHM) observed align with our expectations, and the reduced levels of slimes are very encouraging. BWA is excited to take this programme to the next level through geological modelling and interpolation, paving the way for a maiden mineral resource estimate (MRE). It is noteworthy to mention that the historic artisanal rutile mining area of Akonolinga, extensively explored by other operators lies upstream of the Dehane exploration permits on the Nyong river, potentially demonstrating that the permits are analogous and possibly connected to this historic rutile district. The results demonstrate the existence of heavy mineral accumulations with the composition, extent, and thickness that can lead to significant future economic and commercial opportunities.” Work Completed The results of a 19-hole first-pass reconnaissance drilling programme (November 2023) were sufficiently encouraging to complete a more detailed infill and exploratory programme in September and October 2024. The programme consisted of 79 drillholes at a spacing of between 250 and 500 metres along strike and around 50 to 100 metres across the project width where access permitted. Holes were drilled to an average depth of around six metres using the percussive (hammer driven) Archway track rig. Some 417 samples were collected and composited within holes by similar lithologies to give 160 composite samples, submitted to Scientific Services Laboratory, Cape Town, South Africa, for heavy liquid separation (HLS) and X-ray diffraction (XRD). Heavy minerals were observed at the surface and within all drillholes. Within the drill core, medium and coarse-grained rutile, ilmenite and kyanite were observed in numerous horizons and appear to be continuous throughout the layers of sand within the mouth of the Nyong River and to the south. Significant downhole intercepts for THM% and VHM% were found. The intercepts were calculated using a minimum thickness of 1 metre, a trigger value of 0.5% THM, a minimum grade of 1% THM and a maximum of 1 metre of dilution. Geology and Geological Interpretation The Dehane licences are located in the Western Cameroon Domain, which extends along the border between Nigeria and Cameroon. This domain consists of a series of medium-grade to high-grade schists and gneisses of volcanic and volcano-sedimentary origin, intruded by later-stage granitoid complexes, the basement rocks are the source of heavy minerals. The Nyong River is the main river which runs through the licence areas. The BWAR licences (D1, D2 and D3) allow access to approximately 60 km of the prospective Nyong River floodplain system, deltas, estuarine coastline and associated tributaries. The licences encompass a large active river system and an even larger paleo-floodplain area, and marine coastline observed in satellite imagery, although this has yet to be fully ground-truthed through fieldwork. This paleo-floodplain is likely to be a significant target for exploration and covers the length of the river with an initial expected width of over 2 km in the north and increasing in the south. Other rivers of various importance are found there: Owoumbé, Nkoudou, Bidinga, Mbebe, Mboke, and Ongué. The Dehane area has been known for some historic small-scale artisanal historical rutile mining. However, the extent of its exploitation has not translated to concentrated modern exploration. Dehane 2 comprises approximately 14 kms of the Nyong river system, an area known to be prospective for Ilmenite, Rutile, Zircon and Kyanite heavy mineral sand mineralisation. Moreover, the licence covers some 20 km of the mouth of the Nyong River as it empties into the Gulf of Guinea. A river mouth can lead to a change in flow conditions that can cause the fluvial system to deposit any supplementary sediment including heavy mineral sand (HMS) it is carrying, where potentially economic accumulations of HMS are found within the lowest energy zone on the beach, the swash zone. Mineralisation Rutile, ilmenite and kyanite were visible during the drilling. Generally, the rutile grains are reddish and medium to coarse-grained compared to the black finer-grained ilmenite (reported on 27 February 2024). The sands are generally thicker towards the southern part of the Dehane 2 licence, although the XRD results show that the HMS mineralisation is continuous and of similar grades (with some areas of higher and lower grade, expected due to the nature of deposition. Rutile and ilmenite mineralisation was observed in all sand horizons with larger grains of heavy minerals located within the coarser sands. Micas are generally observed in the drillhole near the boundary to the gneiss bedrock. The typical drillhole lithologies consist of a thin layer of organic soil-sandy material measuring less than 10 cm from the surface. This layer overlies a varying thickness of coarse to medium-grained sands, where the HMS is predominant. The gneiss bedrock's depth varies between six to seven metres with depths down to ten metres not uncommon. Competent Person’s Statement The information in this report which relates to the BWA Dehane 2 Project is based upon and fairly represents information and data collected, supervised and compiled by Mr Lewis Harvey, MSc., Principal Consulting Geologist for Addison Mining Services, who is a Member of the Australian Institute of Geoscientists. The results were reviewed by Mr J.N. Hogg, MSc. MAIG, Principal Geologist for Addison Mining Services (AMS) and Non-executive Director of BWAR. Mr Harvey and Mr Hogg have sufficient experience relevant to the style of mineralisation, the type of deposit under consideration and the activity undertaken to qualify as a Competent Person as defined in the JORC Code 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Harvey and Mr Hogg have reviewed and verified the technical information that forms the basis of and has been used in the preparation of this announcement, including all sampling and analytical data, and analytical techniques where applicable. Mr Harvey and Mr Hogg consent to the inclusion in this announcement of the matters based on the information, in the form and context in which it appears. Forward-Looking Statement This announcement contains forward-looking statements which involve a number of risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward-looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. For further information on the Company, please visit www.bwagroupplc.com/index.html or: BWA Group PLC +44 (0) 7770 225 253 James Butterfield enquiries@bwagroupplc.com Managing Director Allenby Capital Limited +44 (0)20 3328 5656 Corporate Adviser Nick Harriss/Lauren Wright Oberon Capital +44 (0)20 3179 5300 Broker Nick Lovering/Adam Pollock BWAR D2 Drilling Analytical Results RNS DRAFT 20241219 v3 (https://mb.cision.com/Public/22539/4084585/937c7cf73fbbf5a2.pdf) Logo (https://mb.cision.com/Public/22539/4084585/be4cc9909aa6278e_org.png) Copyright (c) 2024 PR Newswire Association,LLC. All Rights Reserved