Afema Project Now Hosts 4.06Moz Gold at 1.2g/t After Latest Resource Update

Resource Growth at Afema

Turaco Gold Limited has announced a significant update to its Afema Project in southeastern Côte d’Ivoire, reporting a new independent JORC Mineral Resource Estimate (MRE) that pushes the total gold resource beyond 4 million ounces. This latest update, coming just five months after the previous estimate, reflects both an increase in contained ounces and an improvement in average grade, now standing at 102.9 million tonnes at 1.2 grams per tonne gold for 4.06 million ounces.

The growth includes maiden resource estimates for the Begnopan and Toilesso deposits, adding 260,000 and 40,000 ounces respectively, alongside a 25% increase in the Asupiri deposit resource, where Indicated ounces have tripled. These deposits, together with the existing Woulo Woulo, Jonction, and Anuiri deposits, are all located within a compact 6-7 kilometre radius inside the granted Afema mining permit.

Ongoing Exploration and Drilling Activity

Turaco is actively advancing exploration with five drill rigs operating on double shifts, focusing on resource extensions and new target areas such as Adiopan, Herman, and Baffia. Notably, recent drilling at Woulo Woulo and Anuiri, totaling over 11,000 metres, is pending assay results and will be incorporated into the next resource update expected in the first quarter of 2026. This upcoming update will underpin the Preliminary Feasibility Study (PFS), which is on track for completion in the second quarter of 2026.

Managing Director Justin Tremain highlighted the rapid pace of resource growth, emphasizing that the project is now one of the most significant undeveloped gold assets in West Africa. He also pointed to the potential for further discoveries during the dry season drilling campaigns, which will test several large-scale exploration targets for the first time.

Metallurgical and Technical Progress

Metallurgical test work across the Afema deposits has demonstrated robust gold recoveries ranging from 84% to over 90%, supporting the economic viability of the project. The Asupiri and Begnopan deposits, in particular, have shown promising extraction rates through a combination of flotation and ultra-fine grinding followed by oxidative and cyanide leaching. These results underpin the processing assumptions for the PFS and future feasibility studies.

The project benefits from strategic infrastructure, including proximity to a major highway nearing completion that connects Côte d’Ivoire’s economic hub Abidjan to Ghana, and access to hydro-power schemes on the project’s boundary. The entire resource is situated within a granted mining permit valid until 2033, with options for renewal, providing a secure tenure framework for development.

Looking Ahead

With the Afema Project’s resource base expanding rapidly and exploration drilling ongoing, Turaco Gold is positioning itself to advance toward production. The PFS and environmental and social impact assessments are progressing in parallel, setting the stage for a Definitive Feasibility Study. Investors will be watching closely as assay results from recent drilling and the outcomes of feasibility studies will shape the project’s development trajectory and valuation.