Didievi Project Yields 65m High-Grade Gold Intercept, 10,000m Drill Program Underway

Strong Drilling Results Reinforce Didievi's Potential

African Gold Ltd (ASX: A1G) has delivered a compelling update from its Didievi Project in Côte d'Ivoire, reporting exceptional high-grade gold intercepts from its recent drilling campaigns. The highlight is a spectacular 65.0 metre intercept grading 5.6 grams per tonne (g/t) gold from 177 metres depth, which extends the known mineralisation beyond the existing resource envelope and remains open at depth.

This intercept, from drill hole DDD049, confirms the continuity of a south-westerly plunging high-grade gold trend hosted within a shear zone, validating the company’s new geological model. Complementary results include a wide 33.0m intercept at 2.4 g/t Au from 31m in drill hole DDD047, hosted by a newly discovered quartz porphyry. This discovery is particularly significant as it represents a new mineralisation style for the project, enhancing the prospectivity of the area and indicating potential for further major gold discoveries.

Expanding the Footprint with a Transformational Drilling Program

Building on these successes, African Gold has commenced a transformational 10,000 metre diamond drilling program, the largest in the company’s history. Initial results from this phase have confirmed a high-grade terrace or tubular structure at the base of the vertical stringers that formed the initial resource. Notably, extensional drilling has returned impressive intercepts such as 155m at 1.1 g/t Au including 52m at 2.9 g/t Au and 31.4m at 3.5 g/t Au, with some sections exceeding 5.6 g/t Au.

The program is designed to systematically explore the mineralised trend with greater confidence and to add shallow, high-grade ounces that could significantly increase the maiden resource, currently estimated at 4.93 million tonnes at 2.9 g/t Au for 452,000 ounces. Encouraged by the drilling results and multiple identified targets, a second rig will be mobilised to site in February 2025 to accelerate exploration efforts.

Strategic Location and Corporate Developments

The Didievi Project benefits from a strategic location approximately 35km from Côte d'Ivoire’s capital, Yamoussoukro, and near existing low-grade mines, positioning African Gold well for future development. The project’s proximity to infrastructure and multiple prospects enhances its potential to evolve into a multi-million-ounce gold operation.

On the corporate front, African Gold appointed Adam Oehlman as CEO in October 2024, bringing extensive technical and commercial experience from senior roles at major mining companies. This leadership change coincides with a renewed focus on advancing the Didievi Project and capitalising on recent exploration successes. Meanwhile, former Managing Director Phillip Gallagher stepped down in January 2025 to focus on other roles, with other executives taking on more active corporate and promotional responsibilities.

Financial Position and Outlook

During the December quarter, African Gold spent approximately A$538,000 on exploration activities, primarily related to the ongoing drilling program at Didievi. The company maintains a healthy cash position of A$1.114 million at quarter-end, supported by a drill-for-equity agreement with Easy Drilling SARL that enables cost-effective expansion of the drilling campaign.

Looking ahead, the company anticipates a significant resource update in the second half of 2025, which could materially enhance the project’s valuation. The steady stream of assay results expected over the coming months will be critical in defining the full extent of mineralisation and guiding future development strategies.