Turaco Gold’s Bonanza Gold Results Surpass Expectations, Unveiling Afema’s Significant Scale

Turaco Gold Ltd (ASX: TCG) has delivered outstanding drilling results in terms of both gold grade and width from the Afema Gold Project in south-eastern Cote d’Ivoire.

Eight diamond holes were drilled at the Jonction and Anuiri deposits along the ‘Afema Shear’, with highlights:

  • 67 metres at 8.43g/t gold from 94 metres;
  • 50 metres at 2.13g/t gold from 84 metres; and
  • 30 metres at 5.18g/t gold from 143 metres.

There were multiple plus 100g/t gold one metre intercepts.

Width and grade of mineralisation exceed modelling of historical drilling.

Drilling program

The above results are from the first 1,550 metres drilled, with over 3,500 metres of diamond and reverse circulation drilling already completed.

In total the program will comprise 3,500 metres of diamond and 10,000 metres of reverse circulation drilling.

Results will continue to flow regularly with two rigs operating.

Exceeding expectations

Justin Tremain, managing director, commented:

“These initial results exceed expectation and clearly demonstrate the scale of mineralisation at the Afema Project.

“The true width and grade of mineralisation at both the Jonction and Anuiri deposits is exceptional.”

Turaco’s project strategy is to expedite a maiden JORC resource with immediate resource drilling and metallurgical test work.

The short-term objective is to confirm Afema as a multi-million ounce gold project.

Afema is located in an infrastructure rich part of Cote d’Ivoire, West Africa’s premier jurisdiction.

Recent acquisition

The results demonstrate the scale and tenor of gold mineralisation along the Afema Shear, with all deposits remaining open.

Turaco recently acquired the project with a 51% interest in March 2024, with a right to increase that interest to 70%.

As a result of the acquisition, Endeavour Mining Plc (LSE: EDV) became a 7% shareholder in Turaco.

The right address

Cote d’Ivoire has political stability with strong economic performance, and is a safe jurisdiction with low security risk.

The country has a stable mining code which is proven for mine permitting and financing.

Highlighting the potential there are extensive Birimian gold bearing rocks holding around 34% of West Africa’s greenstone which is host to over 60 plus 1 million ounce gold deposits.

Cote d’Ivoire remains underexplored with regular economic discoveries, with eight operating gold mines producing 1.5 million gold ounces annually.

 

 

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