West African Resources secures $2.1 million infusion for Burkina Faso mine
“We are pleased to have completed the placement in such a challenging market, which is a credit to the support we received from existing shareholders, Ausdrill and new investors," West African Resources Managing Director Richard Hyde said. “This funding will allow us to carry out rapid resource definition drilling at recently discovered high grade oxide gold zones at the M1 and M3 prospects at our Tanlouka Gold Project."
Recent testing at the M1 and M3 prospects yielded promising results.
“2016 is shaping up to be an exciting and eventful year for the company,” Hyde said.
Australian Company Ausdrill Limited was the major supplier of capital for the project, putting up $1 million.
Financial and testing reports pertaining to the Tanlouka project are filed on West African Limited's website and at www.sedar.com.