Turaco Gold continues to deliver positive exploration results in Cote D'Ivoire, with the Asupiri deposit adjacent to the Anuiri mine showing significant gold mineralization. The company plans to grow the Afema project's resource base through the Asupiri discovery.
Turaco Gold 's exploration success in Cote D'Ivoire continues to unfold, with the company focused on enhancing the resource profile of its flagship Afema project through the development of a new area called Asupiri. Recent drilling activities at Asupiri, situated adjacent to the 600,000-ounce Anuiri deposit, have reportedly validated historical drilling results from the region. Notable intercepts include 9 meters at 4.5 grams per tonne gold from 95 meters, 10 meters at 3.
2gpt from 95 meters, and 11 meters at 2.4gpt from 168 meters. Led by Justin Tremain, Turaco stated that gold mineralization has been identified across a strike length spanning 5 kilometers. Drilling has penetrated to depths of less than 150 meters across the core 2 kilometers of Asupiri and less than 50 meters along strike to the south and north. The mineralization remains open in all directions, with further drilling planned for Asupiri. Turaco is currently conducting metallurgical testwork on samples from Asupiri, with results anticipated in the coming months. The company expects that the drilling and metallurgical work at Asupiri will contribute to a resource estimate for the deposit, which is projected to significantly increase the 2.52 million-ounce resource for the broader Afema project. The impending resource boost will encompass Asupiri, alongside the Woulo Woulo, Jonction, and Anuiri deposits.'Both Asupiri and Anuiri remain completely open, including seven kilometers of strike extending northeast to the 660,000-ounce Jonction deposit,' Tremain remarked. 'Numerous gold-in-soil anomalies on favorable structural positions remain undrilled.' Turaco's ongoing work at Afema continues to bolster its potential as a takeover target, given Tremain's history of involvement in successful deals. He has previously held positions at Exore Resources and Renaissance Minerals, which were subsequently acquired by prominent miners Perseus and Emerald, respectively. The question remains regarding the potential impact of Cote D'Ivoire's sovereign risk perception on a potential acquisition. While West Africa is generally considered a safer jurisdiction for mining companies and investors compared to many other African nations, recent challenges in Mali, Mozambique, and Malawi have intensified scrutiny of the continent as a whole. In Mining Journal Intelligence's 2024 World Risk report, Cote D'Ivoire received a 'CCC' rating for investment risk with a score of 54, surpassing countries like Egypt, Russia, and Mali but still significantly riskier than Canada, the United States, and Australia. Turaco commenced the new year with approximately A$33 million in cash reserves. The explorer has raised around $60 million over the past 15 months: $6.6 million at 9 cents per share in November 2023, $18 million at 16 cents per share in May 2024, and $35 million at 31 cents per share in October 2024.Turaco shares were trading at 32 cents on the ASX on Tuesday, capitalizing it at $281 million. It has more than doubled in headline value over the past 12 months
Turaco Gold Afema Project Asupiri Deposit Cote D'ivoire Gold Mineralization Resource Expansion Acquisition Target
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