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Turaco Gold : Company Presentation - Diggers and Dealers
Turaco Gold : Company Presentation - Diggers and
About this update from Turaco Gold Ltd
Afema Gold Project Emerging Multi Million Ounce Gold Project Cote d'Ivoire Diggers and Dealers | August 2024 This presentation has been approved for release to the ASX by the Board of Turaco Gold Ltd Page 1 turacogold.com.au Corporate Snapshot | ASX:TCG Share Price (2 Aug 24) Shares on Issue $0.22 750M Top 100 Market Capitalisation Investments & Receivable 1 Shareholders A$165M A$5M >80% Cash (30 Jun 24) Enterprise Value A$18M A$142M Management 7% Endeavour Mining Plc 6% Institutional 18% High Net Worth (>$500k) 45% Other 24% $0.25 A$18m Raise at 16c $0.20 A$6.6m Ministerial Raise at 9c Approval of $0.15 Acquisition 74m @ 1.09g/t 52m @ 1.32g/t Agreement to Acquire Afema First Drilling 61m @ 1.64g/t $0.10 67m @ 8.43g/t 59m @ 1.49g/t 30m @ 5.18g/t 87m @ 1.04g/t 45m @ 2.53g/t $0.05 22m @ 4.99g/t 105m @ 1.61g/t 28m @ 2.23g/t 75m @ 1.01g/t $0.00 1/08/2023 1/09/2023 1/10/2023 1/11/2023 1/12/2023 1/01/2024 1/02/2024 1/03/2024 1/04/2024 1/05/2024 1/06/2024 1/07/2024 1/08/2024 1 5M shares in Many Peaks Minerals Ltd, 0.3M share in Awale Resources Ltd, $1.2M of shares in Aurum Resources Ltd payable for Boundiali South permit and potential US$1.5M receivable from Fortuna Mining Corp for residual 20% interest in Tongon North Page 3 turacogold.com.au Board and Management Justin Tremain John Fitzgerald Alan Campbell Bruce Mowat Rob Seed Elliot Grant Daouda Zombo (Zombo) Managing Director Experienced resources company director and executive Previously Managing Director of Exore Resources Ltd (Cote d'Ivoire) until its takeover by Perseus Mining Ltd Founding Managing Director of Renaissance Minerals Ltd (Cambodia) until its takeover by Emerald Resources, where he served as Executive Director Non-Exec Chair Highly experienced mining financier having held senior positions with various Investment Banks Non-Executive Director of Northern Star Resources Ltd, Chair of Medallion Metals Ltd and former Chair of Exore Resources Ltd Non-Exec Director +30 yrs in global exploration and mining for major and junior companies Former Managing Director of Papillon Resources Ltd (Fekola discovery) which was acquired by B2 Gold Ltd Non-Exec Director +30 years of exploration experience Resolute Mining Ltd's General Manager - Exploration Extensive West African exploration and mine operating experience Chief Operating Officer +25yrs experience in Africa, Southeast Asia and Australia Responsible for multiple economic gold and base metal discoveries Led resource delineation and feasibilities on several West Africa gold projects (Burkina Faso and Guinea) over +10 years Chief Geologist 15yrs experience in West Africa exploration (Burkina Faso and Cote d'Ivoire). Previously Exploration Manager at Exore Resources Ltd, Teranga Gold Corporation and Gryphon Minerals Ltd Exploration Manager Geologist, Masters Econ. Geology (Quebec) +15 years' experience in West Africa Previously Gryphon Minerals, Teranga Gold Corporation and Endeavour Mining Page 4 turacogold.com.au The Right Address | The Country Cote d'Ivoire Without question, Cote d'Ivoire is a premier jurisdiction of West Africa West African gold production more than doubled in past 10 years to 17Moz pa (Aust. 10Moz pa) • West African discovery scale & grade | 67Moz at 1.5g/t discovered in last 10yrs from 15 discoveries (Aust. 19Moz at 0.9g/t) Cote d'Ivoire the key contributor to this growth & discoveries with production +500% in past 10yrs to ~1.8Moz pa Remains severely underexplored with > 34% of West Africa's Birimian greenstone Nine operating gold mines ( Barrick, Endeavour, Perseus, Fortuna, Tietto, Allied Gold ) and three at DFS/development decision ( Montage Gold, Centamin, Endeavour ) Rapid permitting & low capex per ounce | Endeavour's Lafigue Gold Mine 4 years from drilling to construction Excellent infrastructure | HV transmission lines, hydro power, bitumen roads, skilled local workforce Highest rated sovereign in sub-Sahara Africa (S&P Global Rating BB-/positive) IMF economic growth forecast 6.5% pa in 2024 (up from 6.2% pa in 2023). Second largest economy in West Africa with highest GDP per capita West African leading standout in 2023 Frasers Investment Attractiveness Index (4 th highest ranking in Africa) +12 years political stability and low security risk Page 5 turacogold.com.au Afema Gold Project World Class Terrain Total project area >1,250km 2 in southeast Cote d'Ivoire Central granted Mining Permit covering 227km 2 Three recently granted contiguous Exploration Permits covering 812km 2 Mining Permit valid to Dec 2033 (20-year renewal thereafter to Dec 2053 ) Supported by a Mining Convention Exploration Permits 12-years of tenure ( Jun 2036 ) West Africa's best infrastructure 120km drive from Abidjan and port facilities | 2-hour drive New highway traverses southern project area connecting Cote d'Ivoire to Ghana Adjacent to major Cote d'Ivoire hydropower scheme with HV transmission lines Page 6 turacogold.com.au The Right Address | Afema Project Location Convergence of World Class Gold Belts Covers the extension and convergence of two of Ghana's most prolific gold belts into southeast Cote d'Ivoire Afema-Bibani-Chirano shear marking eastern margin of Sefwi belt Asankragwa shear within the Kumasi basin Deposits along eastern margin extension of the Sefwi-Bibiani Belt host to deposits such as Bibiani (6.5Moz) and Chirano (5.5Moz) Asankragwa shear host to deposits such as Obotan (6Moz) and Essase (6Moz) Page 7 turacogold.com.au The Right Address | Afema Project Geology Target Rich Environment >US$40 million of past exploration expenditure within the Mining Permit > 250,000m of past drilling along the +25km 'Afema Shear' Past production of 125,000 ounces at >3g/t from shallow heap leach pits in 1990's Several drilled deposits along the +25km Afema Shear, All drilled deposits remain OPEN in every direction Multiple equally compelling structures, each extending 5-25kms, untested with drilling No known drilling within Exploration Permits | extensive geochemical sampling (+23,000 samples) with several well-defined,large-scale drill targets Extensions of the Afema Shear (Toilesso - Kotoka) and known deposits (Jonction-Anuiri-Asupiri-Woulo Woulo) Nianemlessa-Affienou Shear Extensions and repetitions of the Woulo Woulo splay Intrusive contact anomalies Bafia Koffikro Ayame Multi rig drilling program underway | >13,000m RC/DD drilling June quarter Page 8 turacogold.com.au Afema Shear Multi Million Ounce Gold System +25kms of the eastern margin of the extension of the Sefwi Gold Belt in Ghana - a truly worldclass gold belt Multiple structures across a ~ 3km width The entire focus of 250,000m of historical drilling, confirming a multi-million ounce gold system Fifteen known drilled deposits of which only two have been tested with deeper drilling Jonction Anuiri +5kms of untested prospective geology between Jonction and Anuiri with high tenor gold-in-soils Recent new shallow discovery at Woulo Woulo on a north-south splay off the Afema Shear Systematic metallurgical test work program underway across each deposit Maiden JORC resource estimate imminent Page 9 turacogold.com.au Afema Shear | Jonction Deposit Positioned at the northern end of the Afema Shear ~300m strike extent Continuous high-grade(3-5g/t) shoot plunging to the south Potential additional high-grade shoots to the north and south Gold associated with pyrite Drill results include 1 : 40.6m @ 7.13g/t gold from 0m 24m @ 9.95g/t gold from 18m 14.5m @ 10.68g/t gold from 55.5m 12m @ 12.39g/t gold from 192.25m 17m @ 3.21g/t gold from 87m 9m @ 5.49g/t gold from 106m 14m @ 5.05g/t gold from 87.5m 12m @ 6.83g/t gold from 415m 16.4m @ 5.46g/t gold from 442.4m OPEN in all directions Jonction Long Section (looking west showing southerly plunging high grade shoot) 1 Refer ASX announcements dated 21 November 2023 and 17 April 2024 Page 10 turacogold.com.au Attention : This is an excerpt of the original content. 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