Turaco Gold (ASX:TCG) has delivered a maiden resource estimate for the Afema Project in Côte d’Ivorie, which has exceeded 2.5 million ounces of gold.
The mineral resource of 2.52 million ounces of gold comprises the Woulo Woulo, Jonction and Anuiri deposits, and is considered an interim resource as drilling continues.
At Woulo Woulo, the total resource estimate comprises 42.6 million tonnes at 0.9 grams per tonne (g/t) gold for 1.25 million ounces.
Jonction’s resource estimate totals 10.1 million tonnes at 2g/t gold for 660,000 ounces of gold, while Anuiri’s resource estimate totals 11.6 million tonnes at 1.6g/t gold for 600,000 ounces of gold.
Turaco Gold, which has a market capitalisation of $172.56 million, says mineralisation remains open in all directions at all of the deposits.
Managing Director Justin Tremain says the release of the maiden resource estimate comes within five months of acquiring the Afema Project.
“Following the excellent metallurgical results at Jonction, with 76% and 85% leach gold extractions achieved, a similar systematic metallurgical testwork program has commenced on Anuiri,” Tremain says.
“Testwork will then be undertaken on the additional deposits which have been excluded from the Mineral Resource Estimate.
“We expect to commence exploration drilling within the recently granted exploration permits in the coming weeks. This drilling is targeting new discoveries in close proximity to the Woulo Woulo, Jonction, and Anuiri deposits.”
Tremain adds that the drilling results from Woulo Woulo are expected shortly.
The company expects this ongoing drilling to drive substantial near-term resource estimate growth for Afema.
The Afema Project lies in southeast Côte d’Ivorie on the Ghanian border.
Turaco Gold is a gold explorer with a highly prospective Birimian greenstone terrain tenement package proximal to major mines or discoveries.
Write to Aaliyah Rogan at Mining.com.au
Images: Turaco Gold
