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Turaco Gold Limited - Afema Drilling Continues to Deliver Additional Gold Mineralisation
Turaco Gold Limited - Afema Drilling Continues to Deliver Additional Gold
About this update from Turaco Gold Ltd
Turaco Gold Limited (ASX | TCG) ('Turaco' or the 'Company') is pleased to announce exploration drilling results from first pass, shallow drilling along the Niamienlessa Trend at the Affienou prospect, along with results from drilling at the high-grade Jonction deposit, within the Afema Project in southeast Cote d'Ivoire . Turaco is also pleased to announce that it has completed the acquisition of its 80% interest in the Afema Project as announced on 27 November 2024 . Managing Director, Justin Tremain commented: 'The Afema Project continues to deliver excellent drill results. First pass drilling at the previously untested Affienou prospect has delivered multiple shallow, +20 gram metre intercepts. Reconnaissance drilling recently undertaken along the southern 10 kilometres of the Niamienlessa trend has demonstrated extensive shallow, predominantly oxide mineralisation to follow up for additional growth to the Afema Project 2.52Moz MRE. Drilling will continue over the Christmas period.' Turaco currently has three drill rigs operating on double shift at the Afema Project . Following the announcement of the Afema Project maiden MRE of 2.52Moz, Turaco has commenced testing several undrilled, large scale exploration targets, all located in close proximity (generally less than 10kms) of the Woulo Woulo, Jonction and Anuiri deposits included in the MRE. Over the past month exploration drilling has been undertaken along the Niamienlessa trend at the Niamienlessa SW and Affienou prospects and now at the Baffia prospect. The Niamienlessa trend is interpreted to be a continuation of the well-endowed 'Asanko' trend in Ghana . The southern +10 kilometres of Niamienlessa has never seen any past drilling with multiple high-tenor gold-in-soil and trench anomalies. Exploration and resource drilling also continues along the Afema shear at the Jonction, Anuiri and Asupiri deposits. Initial Results from First Pass Affienou Exploration Drilling Turaco recently completed a first pass, reconnaissance style RC program at the previously undrilled Affienou prospect within the recently granted exploration permit that abuts the southern boundary of the Afema mining permit. Drilling was shallow and wide spaced to test the southern 2 kilometres of 5 kilometres of anomalous gold-in-soils at Affienou. A total of 28 RC holes were drilled and results have now been received for the initial 20 drill holes (3,191m). Results from the remaining 8 holes are pending. These are the first drill holes drilled into this underexplored section of the prospective +20-kilometre Niamienlessa shear zone, located close to a sealed road and within 10km of the Anuiri deposit and 15km of the Woulo Woulo deposit. Results are encouraging given the reconnaissance nature of drilling across an initial strike in excess of 2 kilometres, with fences of drilling targeting coincident zones of soil geochemistry, trench anomalism and artisanal pits. The anomalous trend is marked by a series of strike ridges with mineralised horizons forming a topographic high. Weathering extends to approximately 75m vertical. Results are from both oxide and fresh rock, with several holes 'stepped back' to avoid access issues created by artisanal pit workings. Exposures of mineralised structures in artisanal pits indicate the presence of steeply west dipping discrete shear zones accompanied by horizontal extensional veins. In fresh rock the host lithology appears to be a fine-grained volcanic unit with mineralisation expressed as quartz veining accompanied by disseminated pyrite and carbonate. Summary The Jonction drilling is increasing confidence in the resource estimate and importantly shows excellent continuity in the high-grade core the deposit that remains open at depth as demonstrated by 9m @ 9.88g/t gold from 288m in hole 24AJDD0020. Combined with the recently announced first pass results from Niamienlessa SW prospect, these initial results at Affienou provide confirmation of widespread oxide and fresh mineralisation along the entire +20-kilometre Niamienlessa trend and demonstrate the considerable exploration and discovery potential at the Afema Project . Three drill rigs continue to operate at the Afema Project . Along with an RC rig undertaking first pass drilling at the untested 'Baffia' prospect to the west of the Jonction deposit, two diamond rigs are currently targeting extensions to mineralisation along the Afema Shear at the Anuiri and Asupiri (excluded from the maiden MRE) deposits. The RC rig will pause for a few weeks over the Christmas period but remain on site, whilst the two diamond rigs will continue throughout the Christmas period. Soil sampling and auger programs are ongoing at the Kotoka and Koffikro prospects located to the north of the Afema MRE deposits in preparation for maiden drill testing in the coming months at these large scale, compelling regional anomalies. Contact: Justin Tremain Lucas Robinson Managing Director Investor Relations Turaco Gold Limited Corporate Storytime Tel: +61 8 9480 0402 Email: [email protected] Competent Person's Statement The information in this report that relates to Exploration Results is based on, and fairly represents, information compiled by Mr Elliot Grant , who is a Member of the Australasian Institute of Geoscientists . Mr Grant is a full-time employee and security holder of Turaco Gold Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a competent person as defined in the 2012 Edition of the 'Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves' (JORC Code). Mr Grant consents to the inclusion in this report of the matters based upon his information in the form and context in which it appears. The information in this report that relates to Mineral Resource estimates is based on information compiled by Mr Brian Wolfe , an independent consultant to Turaco Gold Ltd and a Member of the Australasian Institute of Geoscientists . Mr Wolfe has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a competent person as defined in the 2012 Edition of the 'Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves' (JORC Code). Mr Wolfe consents to the inclusion in this report of the matters based upon the information in the form and context in which it appears. Previously Reported Information References in this announcement may have been made to certain ASX announcements, including exploration results and Mineral Resources. For full details, refer to said announcement on said date. The Company is not aware of any new information or data that materially affects this information. Other than as specified in this announcement and other mentioned announcements, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement(s), and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed other than as it relates to the content of this announcement. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original announcement. (C) 2024 Electronic News Publishing, source ENP Newswire