Santa Fe Minerals has agreed to acquire an 80% stake in four gold projects in Côte d’Ivoire from WIA Gold, supported by a $6 million placement. The acquisition adds a substantial pipeline of exploration targets ranging from early-stage prospects to drill-ready zones.
- Acquisition of 80% interest in four gold projects covering 3,449 sq km
- Projects include Mankono, Bouaflé, Bocanda, and Issia with multiple high-grade drill intersections
- Placement to raise $6 million at $0.20 per share subject to shareholder approval
- Projects complement Santa Fe’s existing Eburnea Gold Project in Côte d’Ivoire
- Performance rights linked to milestone resource estimates up to 1 million ounces
Strategic Acquisition in a Proven Gold Province
Santa Fe Minerals Limited has entered into a binding agreement to acquire an 80% interest in four highly prospective gold projects in Côte d’Ivoire from WIA Gold Limited. The acquisition encompasses the Mankono, Bouaflé, Bocanda, and Issia projects, collectively covering 3,449 square kilometres of granted permits and exploration applications. This move significantly expands Santa Fe’s footprint in a region known for its Birimian-hosted orogenic gold deposits.
The projects are strategically located near Santa Fe’s recently acquired Eburnea Gold Project, positioning the company to build a comprehensive exploration pipeline that spans early-stage greenfield prospects through to drill-ready targets. Historical drilling by WIA and previous operators like Newcrest Mining has revealed multiple high-grade gold intersections, including standout results such as 4 metres at 87.83 grams per tonne gold at Bouaflé and 8 metres at 5.11 grams per tonne at Mankono.
Robust Exploration Potential Across the Portfolio
The Mankono and Bouaflé projects are the most advanced, with extensive drilling defining large mineralised corridors and shallow, high-grade zones. Bouaflé, for instance, hosts a 17-kilometre-long gold mineralised shear corridor with multiple significant drill intercepts. Meanwhile, the Issia and Bocanda projects remain at an earlier exploration stage but exhibit strong geochemical anomalies that warrant further investigation.
Santa Fe plans to leverage the existing data and historical results to accelerate exploration, including aircore and reverse circulation drilling programs aimed at delineating mineral resources. The company has also outlined performance rights tied to milestone resource estimates, incentivising progress towards defining at least 500,000 ounces and up to 1 million ounces of gold at grades above 0.5 grams per tonne.
Funding and Approvals on Track
To fund the acquisition and exploration activities, Santa Fe has secured binding commitments for a $6 million placement at $0.20 per share, subject to shareholder approval expected in mid-January 2026. The placement, combined with existing cash reserves, will underpin the company’s planned exploration programs across both the newly acquired and existing projects.
The transaction is structured through the acquisition of Glomin Services Ltd, a Mauritian entity holding the interests in the projects via Australian and Ivorian subsidiaries. Completion is anticipated in early February 2026, following regulatory and shareholder approvals. The company has received ASX confirmation that certain listing rules do not apply to this transaction, smoothing the path to completion.
Building a Gold Exploration Powerhouse in West Africa
This acquisition marks a significant step for Santa Fe Minerals as it consolidates its position in one of West Africa’s most promising gold regions. The combination of historical data, multiple drill-ready targets, and a strong funding position sets the stage for potentially transformative exploration outcomes. However, as with all early-stage exploration, the path to resource definition and eventual production remains subject to geological and operational risks.
Bottom Line?
Santa Fe’s Côte d’Ivoire acquisition and $6 million capital raise set the stage for a pivotal exploration campaign in early 2026.
Questions in the middle?
- How will Santa Fe prioritize drilling across the four newly acquired projects?
- What are the timelines and targets for achieving the performance rights milestones?
- How might regional gold price fluctuations impact the company’s exploration and development plans?