Awale Resources
Awalé Resources is a Vancouver-based junior mineral exploration company advancing a 2,346 km² IOCG copper-gold district in Côte d'Ivoire, with five discoveries, a maiden 1.71 Moz AuEq inferred resource, and JV/funding partnerships with Newmont and Fortuna Mining.
- Company typePublic
- Founded2017
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Awale Resources does
Awalé Resources Ltd. (TSX-V: ARIC; OTCQX: AWLRF; FRA: 2F60) is a Vancouver-headquartered junior mineral exploration company focused exclusively on discovering and defining large-scale gold and copper-gold deposits at its flagship Odienné Project in northwest Côte d'Ivoire. The 2,346 km² land package comprises five granted permits and two applications and hosts five discoveries to date (Empire, Charger, Sceptre, BBM, and Fremen), organized under an Iron Oxide Copper Gold (IOCG) exploration model adopted in July 2021. The technical program relies on diamond and reverse-circulation drilling — including 88,000m and 100,000m drilling campaigns — together with geophysical and geochemical surveys, with mineralization defined to 600m vertical depth at BBM and 1,482 gram-metre gold drilled at Charger.
The business model is pre-revenue exploration: Awalé funds work through equity placements on the TSX-V and OTCQX and earns into future economics either via project sale or earn-in/joint venture with major miners. Two anchor partners define the cap-table and capital intensity — Newmont Ventures Limited funds 100% of exploration across a 797 km² JV covering two permits and holds approximately 8.9% with earn-in rights, while Fortuna Mining Corp. completed a US$6M strategic equity investment in June 2025 for a 15% stake, providing dedicated funding for 100%-owned permits. The company announced a maiden inferred Mineral Resource Estimate of 1.71 Moz AuEq (32.4 Mt at 1.64 g/t AuEq, 1.33 g/t gold, 0.33% copper) in May 2026, validating IOCG district-scale potential.
Awalé's primary customers in a commercial sense are major mining companies — Newmont and Fortuna being the two named counterparties — that ultimately acquire, partner, or earn into advanced exploration projects to refill production pipelines. Equity investors (institutional, HNW, and retail) on TSX-V, OTCQX, and the Frankfurt exchange form a secondary stakeholder segment. The company operates with 11–50 employees, is led by CEO Andrew Chubb (appointed May 2023), and reports partnerships and drill programs via PDAC participation, CEO.CA interviews, and direct shareholder communications.
Awale Resources firmographics
Firmographics- Name
- Awale Resources
- Legal name
- Awale Resources Ltd.
- Website
- https://awaleresources.com
- Company type
- Public
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Awalé Resources is a Vancouver-based junior mineral exploration company advancing a 2,346 km² IOCG copper-gold district in Côte d'Ivoire, with five discoveries, a maiden 1.71 Moz AuEq inferred resource, and JV/funding partnerships with Newmont and Fortuna Mining.
- Ownership category
- akta.pro rank
Awale Resources industry classification
Industry- Product category
- Mineral Exploration
- NAICS
- Support Activities for Mining (2131)
- SIC
- Gold And Silver Ores (1040)
- akta.pro primary industry
- Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)
- akta.pro secondary industry
- Copper Exploration & Resource Development (IMAKADAA)
Keywords
Where Awale Resources is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Awale Resources business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales
Revenue model
- Project Sale or Joint Venture: Pre-revenue exploration stage company. Future revenue anticipated through sale of exploration projects or earn-in/joint venture agreements with major mining companies. Newmont currently funding JV exploration; Fortuna acquired 15% stake as strategic investment.
- Equity Financing: Raises capital through private placements on TSX-V to fund exploration activities. Has completed multiple financings including C$1.5M (2023), C$491K (2022), and US$6M Fortuna strategic investment (2025).
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Awale Resources product offering
Product offeringCore offering
Awalé Resources is a junior mineral exploration company that discovers and advances large-scale gold and copper-gold deposits in Côte d'Ivoire, West Africa. The company operates the 2,346 km² Odienné Project through systematic diamond and RC drilling, geophysical and geochemical surveys, guided by an Iron Oxide Copper Gold (IOCG) exploration model. Its current focus is defining mineral resources that attract acquisition, earn-in, or joint-venture interest from major mining companies.
Product overview
Awalé Resources is a mineral exploration company operating as a single unified exploration focus—the Odienné Project in Côte d'Ivoire, West Africa. The project is structured as a joint venture with Newmont covering approximately one-third of the land holding (797 km² across two permits), while Awalé manages 100%-owned exploration across the remaining permits totaling 2,346 km². The Odienné Project comprises multiple named exploration targets (Empire, Charger, Sceptre, BBM, Fremen, Lando, Sienso) that Awalé is systematically advancing through drilling toward resource estimates, with the goal of developing a district-scale IOCG mining camp with centralized processing capability.
Differentiator
Problem solved
Functional benefit
Products and services
- Odienné Project Flagship copper-gold exploration project covering 2,346 km² in northwest Côte d'Ivoire with 5 granted permits and 2 applications. Contains multiple discoveries including Empire, Charger, Sceptre, BBM, and Fremen, with substantial IOCG district potential. Sold or partnered to major mining companies through earn-in or joint venture agreements.
- Empire Target High-grade gold discovery within the Odienné Project, located 2.5 km south of the Charger discovery. Part of Awalé's vision for a district-scale mining camp with multiple deposits feeding a centralized processing facility.
- Charger Target High-grade gold discovery at Odienné with mineralization confirmed to 600 meters below surface and beyond. Demonstrates consistent high-grade gold intercepts including 45.7 g/t Au over 32m and 36.2 g/t Au over 6m at depth.
- BBM Target High-grade gold and copper discovery within the Odienné Joint Venture area. Mineralization defined over approximately 1.2 km strike and exceeding 300m depth, with underground potential confirmed through step-down drilling showing 3.3 g/t AuEq over 38m from 447m depth.
- Sceptre Target Very large-scale copper discovery within the Odienné Project, identified through delineation of significant surface copper-gold anomalies. Part of the IOCG-style mineralization system at Odienné.
- Fremen Target First discovery on 100%-owned ground, located 11 km from the BBM target. Confirmed near-surface gold mineralization over an initial 1-kilometre zone within an 8-kilometre mineralized corridor, with 37 parts per billion gold in termitaria footprint and peak value of 1.3 g/t Au.
Quantifiable outcome
- 1.71 Moz AuEq inferred resource defined at Odienné Project
- +2 more outcomes
Companies that use Awale Resources
Customer profileSegments2 records
Ideal customer profiles2 records
Awale Resources technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Awale Resources partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- Beacon Securities LimitedminorBeacon Securities Limited acted as agent for Awalé's private placement financing in early 2023, which aimed to raise approximately $1.5 million for exploration in Côte d'Ivoire.
- Newmont (Newmont Ventures Limited)coreNewmont entered a 2022 Exploration Agreement and made strategic investment in Awalé's Odienné Project. Newmont funds all exploration on the JV covering 797 km² across two permits while Awalé manages project operations. Newmont holds approximately 8.9% interest with earn-in rights. This is a flagship partnership providing non-dilutive exploration funding.
Scale indicators9 records
Recent moves7 records
Expansion highlights5 records
Awale Resources competitors and assessment
Company assessmentDirect peers
- West African Resources: ASX-listed gold developer with advanced projects in Burkina Faso. Closely comparable to Awalé as a West Africa-focused gold explorer/developer that has transitioned multiple discoveries toward production, validating the regional monetization pathway Awalé is pursuing.
- Orezone Gold: TSX-listed gold developer advancing the Bomboré mine in Burkina Faso toward production. Directly comparable as a West Africa-focused junior at a similar stage of converting exploration success into a producing asset.
- Newcore Gold: TSX-V-listed junior gold explorer advancing the Enchi project in Ghana. Closely comparable to Awalé as a West African gold exploration junior at a similar stage, with maiden/updated resources and ongoing drill programs.
- Montage Gold: TSX-V-listed gold developer advancing the Koné project in Côte d'Ivoire. Directly comparable as a Côte d'Ivoire-focused gold developer at a similar stage of advancing a district-scale project toward PEA/DFS.
- Turaco Gold: ASX-listed junior gold explorer with a portfolio of West African gold projects and an option agreement on Awalé-adjacent ground (Turaco Option, July 2022). Directly comparable as a West African gold exploration junior operating in the same district.
Broad incumbents
- Perseus Mining: Mid-tier gold producer operating the Sissingué and Yaouré mines in Côte d'Ivoire. Comparable as a Côte d'Ivoire operator that has demonstrated the viability of the country's mining regime and could plausibly be a future acquirer/JV partner for Awalé's projects.
- Endeavour Mining: Largest gold producer in West Africa, with multiple operations including in Côte d'Ivoire. Directly comparable as a major West African miner with both producing assets and an active growth pipeline of exploration/development projects.
- Resolute Mining: Australian gold producer whose 2 Moz ABC Resource lies adjacent to Awalé's Odienné Project. Highly comparable as a neighboring operator in the same geological belt and a logical strategic acquirer/JV partner for Awalé's district-scale potential.
- IAMGOLD: Mid-tier gold producer with West African operations including Essakane in Burkina Faso and advanced projects in Côte d'Ivoire. Comparable as a major West African miner with active exploration and a stated growth pipeline that could intersect with Awalé's portfolio.
- Fortuna Mining: Mid-tier gold/silver producer with West African operations and Awalé's largest strategic shareholder (15% stake from June 2025 US$6M investment). Comparable as a West African producer that has signaled confidence in Awalé's upside and could serve as an acquirer/JV partner.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Awale Resources social profiles
Digital presenceAwale Resources financial estimates
Financial estimateRevenue estimate
Valuation estimate
Awale Resources leadership team
Management profileNumber of profiles
Profiles1 record
Awale Resources funding detail
Funding detailFunding overview
Funding rounds10 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Awale Resources M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Awale Resources
What does Awale Resources do?
Awalé Resources is a junior mineral exploration company that discovers and advances large-scale gold and copper-gold deposits in Côte d'Ivoire, West Africa. The company operates the 2,346 km² Odienné Project through systematic diamond and RC drilling, geophysical and geochemical surveys, guided by an Iron Oxide Copper Gold (IOCG) exploration model. Its current focus is defining mineral resources that attract acquisition, earn-in, or joint-venture interest from major mining companies.
Is Awale Resources a public or private company?
Awale Resources is a public company. It is classified as public and is currently operating.
When was Awale Resources founded?
Awale Resources was founded in 2017. It employs 11 to 50 people.
Where is Awale Resources based?
Awale Resources is headquartered in Vancouver, Canada, in the North America region.
How does Awale Resources make money?
Two revenue lines are on record. Project Sale or Joint Venture is the primary driver. The others are equity Financing.
Who are Awale Resources's main competitors?
Direct peers on record are West African Resources, Orezone Gold, Newcore Gold, Montage Gold and Turaco Gold. Broad incumbents are Perseus Mining, Endeavour Mining, Resolute Mining, IAMGOLD and Fortuna Mining.
Does Awale Resources have an API?
No public API is recorded for Awale Resources.
What industry is Awale Resources in?
Awale Resources's product category is Mineral Exploration. Its primary akta.pro industry code is IMAKAKAA, Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling), with a secondary code of IMAKADAA, Copper Exploration & Resource Development. Its NAICS code is 2131 and its SIC code is 1040.