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Awalé Resources is a West Africa-focused gold and copper explorer advancing a district-scale land package at the Odienné project in Côte d’Ivoire. This conversation with CEO Andrew Chubb covered the evolving geological understanding of multiple targets, most notably Charger, BBM, and Lando, highlighting their structural connectivity, exploration strategy, and the company’s vision of Odienné as a coherent, multi-deposit mining camp. Topics ranged from breccia geometry and metallurgical assumptions to strategic implications for the JV, the company’s 100%-owned ground, and the broader question of how to unlock value from what is increasingly shaping up to be a large-scale gold-copper system.
TL;DR
- 1. Awalé now considers Odienné a single mining camp, not a set of isolated deposits, with all targets potentially feeding a central processing facility.
- 2. The folded breccia model at Charger has held up, with drilling confirming multiple stacked, mineralized zones along a northeast structural corridor.
- 3. BBM is still considered subcritical on its own, but its expansion potential and structural linkage to other targets keep it central to the camp-scale thesis.
- 4. Awalé retains full ownership of discoveries on its 100%-owned ground, which could be toll-treated, sold, or developed independently depending on scale and location.
- 5. Newmont is still engaged but focused on long-term scale, with interest centered on whether Odienné can support a 5-million-ounce, tier-one asset.
Has anything fundamentally changed for Awalé?
According to CEO Andrew Chubb, the company is staying the course.
“The drilling’s really just confirmed the thesis we’ve got on our models and the way we do our exploration,” he said, pointing to improved confidence in both existing and emerging targets.
The company has continued systematic testing across its Newmont joint venture ground and its 100%-owned tenements, notably at BBM, Charger, and Lando. The structural model, particularly at Charger, has held together well through follow-up drilling.
What is the main story for Awalé now?
Chubb insists Odienné must be seen as a cohesive mining camp, not a collection of disconnected targets.
“We’ve never looked at it as an individual target. We always knew that we had multiple targets and they all had potential to be coming into some kind of central processing facility,” he said.
While Charger brought early attention, and BBM suggests potential for bulk tonnage, the emerging narrative is a multi-deposit development scenario. The company is pursuing both resource definition and discovery drilling, with potential for small satellite pits within trucking distance to a central mill. Chubb compares the vision to multi-pit operations in Australia, including the St Ives Gold Camp in Western Australia and Fortuna’s Séguéla operation.
Why are the grades at Charger now different?
Recent results at Charger have returned variable grades and widths compared to last year’s standout intercepts. Chubb attributes this to the geometry of the breccia body and the structural folding model that now underpins their understanding of the system.
The discovery of a parallel breccia zone 50 meters from the main corridor may explain the shift. “It’s the first hole into that zone,” Chubb explained, adding that hinge zones produce broader intercepts, while limb zones are narrower. The company is also seeing demagnetization associated with mineralized zones, providing a geophysical vector for future targeting.
Are we going to see higher grades from Charger again?
Possibly.
While some holes returned lower grades, others targeted the same relative level (RL) as previous high-grade intercepts and hit similar widths and grades. Hole 120 returned 26 meters at 12 g/t gold, including 6 meters at 42 g/t.
Chubb says these confirm the cigar-shaped geometry of mineralization: “It becomes like a ladder within that structural corridor,” he said, referencing stacked mineralized lenses repeating vertically. Four deeper holes drilled beneath this level are still pending, with assays expected in early May.
Are the breccias structurally or lithologically controlled?
Structure appears to dominate. The working model is of folded breccia bodies, with mineralization focused in hinge zones.
“Each one of those is a hinge,” Chubb said, confirming a fold-thrust model within a northeast-trending corridor.
Is the new zone connected to the main zone?
Yes.
Chubb confirmed that the new breccia zone is structurally linked to the main corridor through the folding model. It is not an isolated zone.
What is the new magnetite-destructive zone?
Charger’s mineralization is associated with demagnetization. Magnetic susceptibility readings drop off sharply at the breccia boundary.
The company has mapped five demagnetized zones in the mag data, of which only one has been drill-tested. These zones represent untested upside.
Is the IOCG thesis still working?
Yes, but it may be a hybrid system.
“All the mineralization has a magmatic signature to it,” Chubb said, but acknowledged that basin fluids may also be contributing. He sees intrusion-related and possible orogenic fluids as coeval components of a large-scale plumbing system.
How does the sulfide texture evolve with depth?
Sulphide content decreases below 100 meters, but alteration remains consistent.
The deeper zones show more visible gold, while upper levels carry more polymetallic sulphides. Chubb attributes the vertical zonation to temperature-pressure gradients but does not offer a fully formed thesis.
Are they doing a resource model on Charger soon?
Not yet.
“Charger will require a significant amount of drilling,” Chubb admitted, citing nuggety mineralization and visible gold. However, the structural model now allows targeted drilling, with consistent hits near predicted intercepts. Resource work at Charger will follow BBM.
When are they doing met work on Charger?
Initial metallurgical test work is planned for the second half of 2025.
Chubb believes most of the gold is free milling, both above and below the 100-meter mark. Early petrography supports this, showing gold in fractures rather than locked in sulphides.
How big could Charger get?
Chubb cautiously suggests 500,000 to 700,000 ounces down to 400-500 meters depth based on current drilling. This could increase with extensions or parallel zones.
What other work has to happen at Charger?
More drilling. The upcoming program will target deeper levels in a vertical fence pattern, with step-outs of roughly 100 meters. Four deeper holes from the previous phase are still pending.
When are more Charger results coming?
Four deeper holes drilled beneath the known zone are expected in early May. New drilling will begin in early May and run through June and July.
Will assays come faster this year?
Yes.
Chubb reports four- to six-week turnarounds for multi-element assays. Results from May drilling are expected in July or August.
Is the on-site lab operational?
Yes, but limited.
Awalé’s PPB lab is functioning as a non-accredited facility, primarily for RC samples. It will guide greenfields work, especially on 100%-owned ground. Discussions are ongoing with Newmont regarding access.
Has the thesis for BBM changed?
No.
BBM continues to grow but is not yet at Newmont scale. Chubb confirmed the target is open down plunge and noted ongoing scout drilling along strike. BBM is not viewed in isolation but as part of a larger system.
Is Lando connected to BBM and Fremen?
Structurally, yes.
All sit along the same dominant structure that can be traced regionally through Guinea and Mali. Chubb emphasized consistent geochemical fingerprints and alteration signatures across the system.
What happens if there is a discovery on the 100%-owned ground?
Awalé keeps it.
Chubb stated unequivocally that discoveries on 100% ground are not covered by the Newmont JV. If mineralization is within trucking distance, it could be toll-treated. Otherwise, it would be developed independently or sold.
Why not spin out the 100%-owned ground?
Too early, according to Chubb.
“We’re just embarking on the 100% ground,” he said. While a spinout or sale is not ruled out, no timeline has been set.
What else has happened at BBM in the meantime?
Initial metallurgical testing is underway but results are delayed.
Chubb maintains that BBM’s dominant chalcopyrite mineralogy should be amenable to flotation. No surprises expected, but further representative met work is required.
How much more drilling at BBM before a resource?
A lot.
The project is currently drilled on 100-meter centers. Chubb emphasized the need for tighter spacing and full-system met work before estimating a resource. Near-term focus is on understanding mineralization plunge and strike continuity.
How deep will they drill at BBM?
Future programs will target down-plunge extensions beyond the current 300-meter depth. Current drilling has focused on pit-constrained geometry. Underground potential remains a possibility.
How did drilling go at Lando?
Lando returned structurally controlled mineralization in volcanic and sedimentary rocks, similar in style to BBM. Diamond drilling to 300-350 meters has been completed, with assays expected in June.
How will assays be released from now on out?
News flow is expected to follow a roughly biweekly cadence. Upcoming releases include results from Charger, Fremen, BBM satellites, and finally Lando. New drilling begins in May at Charger.
What is the closest comparison to Odienné?
No perfect analogue exists.
Chubb cited similarities to Séguéla and the Loulo-Gounkoto complex but emphasized Odienné’s hybrid nature: breccias at Charger, shear-hosted zones at BBM and Lando, and intrusive targets like Sceptre.
When will the deep hole at Sceptre East come?
Possibly 2025.
Chubb remains interested but says it has not fit into budget or JV priorities. Grades have been modest so far. Targeting remains speculative.
What is Newmont saying about all of this?
Newmont remains engaged but is focused on scale. The 2 million ounce threshold is just the JV earn-in target. For development, Chubb says they are looking for a 500,000-ounce-per-year operation, which implies a multi-million ounce camp.
How much money do they have left?
As of the interview, Awalé held just under $9 million. This is expected to last about a year, depending on drilling pace.
The company is also nearing the $15 million spend required for Newmont’s earn-in.
Will they do more marketing?
No change in strategy.
Chubb expressed frustration at the lack of market recognition but emphasized drill success over promotion. “We have a fantastic success rate with the drill,” he said. Marketing will continue, but no major ramp-up is planned.
Will insiders be buying in the open market?
Some already are.
Chubb himself expressed a desire to buy more but cited past compensation delays and personal financial recovery. Others may act independently.
What keeps Andrew up at night?
The end of the JV and strategic positioning. With institutional and producer interest building, Chubb is increasingly focused on value realization beyond the technical work.
“There’s a lot of moving parts,” he said.
Awalé Resources Interview with CEO, Andrew Chubb
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