African Gold’s (ASX:A1G) share price spiked 118% to an intra-day high of $0.1025 today (15 October), after the junior explorer confirmed gold mineralisation extends outside of the existing resource envelope at the Didievi Gold Project in Côte d’Ivoire.
A diamond drilling program was completed to test possible extensions of the gold lodes and to infill previous drilling on gold controlling structures of the Blaffo Guetto prospect. Drilling also aimed to increase the scale and confidence of the existing inferred resource.
The $16.87 million market capitalised company reports the assay results allow for an update to the existing Didevi Project’s maiden inferred resource, which totals 4.93 million tonnes for 452,000 ounces of gold at 2.9 grams per tonne (g/t) gold.
Top results featured 65m @ 5.6g/t gold from 177m, including 9m @ 1.7g/t gold and 28m @ 1.1g/t gold, in drillhole DDD049.
Managing Director Phillip Gallagher says the result from hole DDD049 is an extension of previous mineralisation and remains open at depth, plus it has extended the target area.
“This is a fantastic result that has shown that the resource modelling that the design of this diamond drilling program was based on is proving to be accurate,” Gallagher says.
“Along with the Blaffo Guetto prospect, the Didievi Project has other exciting prospects that remain substantially untested, including the Kouassi and Akissi prospects to the north of Blaffo Guetto and the 11km long Poku gold trend located to the southwest.
“As the discovery of the new quartz porphyries at Blaffo Guetto demonstrate, there is also the potential for new discoveries across the project area. These fantastic drilling results today strengthen our belief that the Didievi Project has the potential to be a multi-million-ounce deposit.”
On 30 July 2024, the company released a maiden resource estimate for the Didevi Project based on a new geological model from recent logging and mapping on the Blaffo Guetto prospect.
The recently completed drilling was designed to test the predictive capacity of the new geological model, as well as expand and upgrade the existing resource.
Previous drilling on Blaffo Guetto has produced results including 10m @ 123.7g/t gold, including 2m @ 613.1g/t gold; 83.3m @ 3.3g/t gold, including 18m @ 12g/t gold; and 17.4m @ 17g/t gold, including 1m @ 216g/t gold.
The Didievi Project, covering 391km2, lies within the under-explored and emerging Oume-Fetekro Birimian greenstone belt in Cote d’Ivoire.
African Gold is focused on identifying, exploring, and developing mineral properties in Africa. The company has assets in Cote d’Ivoire and Mali that are considered prospective for precious metals.
Write to Aaliyah Rogan at Mining.com.au
Images: African Gold
