Turaco Gold (ASX:TCG) has reported a number of impressive intercepts from diamond and reverse circulation drilling at the Jonction and Anuiri deposits in south-eastern Côte d’Ivoire.
Jonction and Anuiri are part of the Afema Gold Project, in which Turaco acquired a 51% stake in March, with the right to increase that holding to 70%.
Drilling has been planned to expedite a maiden JORC Mineral Resource Estimate (MRE) and confirm Afema as a “multi-million ounce gold project with tremendous exploration potential within an infrastructure-rich part of Côte d’Ivoire,” Managing Director Justin Tremain says.
The program consists of diamond drilling centred on the Afema Shear, and reverse circulation drilling focused on the Woulo Woulo discovery, with two drill rigs currently in operation.
Initial results from drilling at Woulo Woulo are expected in the coming months, and are hoped to produce the desired maiden JORC resource.
The latest batch of results, generated from the first eight holes of the drilling program — five at Anuiri and three at Jonction — measured up to 67m @ 8.43 grams per tonne (g/t) gold from 94m, including 17m @ 25.04g/t gold and 1m @ 234.49g/t gold.
Tremain says these results exceeded the company’s expectations and “clearly demonstrate the scale of mineralisation at the Afema Project.”
According to Turaco, the estimated true width of mineralisation is 60% to 80% of the reported downhole results. The width and grade of mineralisation also exceeds the modelling delivered by historical drilling. All deposits remain open.
Assays were undertaken via Photon assay by MSA Laboratories in Yamoussoukro, Côte d’Ivoire, prior to shipping the remaining samples to Perth, Western Australia, for metallurgical testwork.
On 29 February 2024, Turaco secured ministerial approval for the acquisition of Afema from multinational mining company Endeavour Mining (TSX:EDV), as reported by Mining.com.au.
As such, Turaco was provided a 3-year period to conduct a Feasibility Study.
As of 31 December 2023, the company had just over $8 million in cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Turaco Gold
