Turaco Gold Unveils 4.06Moz Afema Resource Boost with High-Grade Discoveries

Resource Growth and Exploration Success

Turaco Gold Limited (ASX, TCG) has delivered a robust September 2025 quarter update, marked by significant exploration progress and resource growth at its flagship Afema Project in Côte d’Ivoire. The company announced an updated JORC Mineral Resource Estimate (MRE) of 4.06 million ounces of gold, reflecting an increase of more than 500,000 ounces since May 2025. This growth underscores Turaco’s success in advancing multiple deposits along the Afema shear zone, including new high-grade discoveries at Adiopan and Begnopan, as well as extensions at Woulo Woulo and Baffia.

Drilling activity was intensive, with five rigs completing over 20,000 metres of reverse circulation and diamond drilling. Notably, Woulo Woulo yielded one of the highest-grade intercepts in the project’s history, including a remarkable 4 metres at 82.01 grams per tonne gold, highlighting the potential for additional parallel lodes. Similarly, Adiopan emerged as a significant new discovery with multiple intercepts exceeding 5 grams per tonne, poised to add materially to future resource updates.

Advancing Towards Feasibility

Alongside exploration, Turaco is progressing a Pre-Feasibility Study (PFS) scheduled for completion in the second quarter of 2026. The PFS is supported by extensive infill and metallurgical drilling across key deposits such as Jonction, Anuiri, and Asupiri. Metallurgical test work, including flotation and leaching, has demonstrated promising gold recoveries, particularly at Begnopan, where extraction rates approach 89%. Complementary geotechnical and hydrological studies are underway, alongside environmental and social impact assessments, reflecting a comprehensive approach to project development.

Corporate Strategy and Financial Strength

Turaco’s corporate maneuvers during the quarter further strengthen its position. The company successfully closed a heavily oversubscribed Share Purchase Plan, raising A$4 million, and generated an additional A$3.2 million from the sale of its Many Peaks Ltd shareholding. Importantly, Turaco divested its Eburnea Gold Project to Santa Fe Minerals Ltd, receiving shares and performance rights, thereby streamlining its focus on the Afema Project while retaining upside exposure to Eburnea’s exploration potential.

Financially, Turaco remains well-capitalised with approximately A$80 million in cash and listed investments at quarter-end, providing ample runway to fund ongoing exploration, resource growth, and feasibility activities. The company is also investing in community infrastructure, including a new access road and bridges, enhancing local connectivity and supporting sustainable operations.

Looking Ahead

With a substantial pipeline of exploration targets identified through geochemical sampling and advanced geophysical surveys, Turaco is poised to accelerate drilling programs in the upcoming dry season. The exclusion of recent high-grade results from the latest MRE update signals further resource growth potential, with an additional update anticipated in the first quarter of 2026. As the PFS advances, Turaco’s strategic focus on expanding and defining the Afema resource base will be critical to unlocking value and progressing towards development.