Santa Fe Minerals Eyes Côte d’Ivoire Gold Bonanza with $6M Backing

Expanding the Gold Frontier in Côte d’Ivoire

Santa Fe Minerals Limited has taken a significant step to bolster its gold exploration portfolio by entering into a binding agreement to acquire an 80% interest in four highly prospective gold projects in Côte d’Ivoire. The acquisition, from WIA Gold Limited, encompasses the Mankono, Bouaflé, Bocanda, and Issia projects, collectively covering an expansive 3,449 square kilometres. This move strategically positions Santa Fe to leverage the region’s rich Birimian gold belt, known for hosting substantial orogenic gold deposits.

The projects vary in maturity, ranging from early-stage greenfield prospects to targets primed for drilling. Notably, the Mankono and Bouaflé projects have already demonstrated promising high-grade gold intersections, including standout drill results such as 4 metres at an extraordinary 87.83 grams per tonne gold at Bouaflé. These results underscore the potential for significant discoveries that could materially enhance Santa Fe’s resource base.

Funding the Ambition

To support this acquisition and subsequent exploration activities, Santa Fe has secured binding commitments for a $6 million placement at $0.20 per share, subject to shareholder approval. The capital raise, managed by Argonaut Securities, is designed to provide the necessary funding to advance drilling programs and exploration across both the newly acquired projects and Santa Fe’s existing assets, including the recently acquired Eburnea Gold Project.

The company plans to convene a shareholder meeting in mid-January 2026 to seek approval for the placement and the issuance of consideration shares and performance rights tied to exploration milestones. Completion of the acquisition and placement is anticipated by early February 2026, contingent on regulatory and shareholder approvals.

A Pipeline Poised for Growth

The acquisition adds a robust pipeline of gold targets to Santa Fe’s portfolio. The Mankono project, situated along a regional shear zone near Tietto Minerals’ Abujar gold project, has revealed extensive gold anomalies and shallow high-grade intersections, with drilling results such as 8 metres at 5.11 grams per tonne gold. Meanwhile, Bouaflé boasts a 17-kilometre mineralised corridor with multiple drill-ready zones, including a newly identified high-grade zone west of the main area.

Issia and Bocanda projects, though at earlier exploration stages, present compelling geochemical anomalies that warrant further investigation. The company’s strategy involves extensive aircore and reverse circulation drilling to delineate mineralisation and advance towards resource definition, supported by performance rights that incentivise milestone achievements.

Strategic Implications

This acquisition marks a pivotal expansion for Santa Fe Minerals, complementing its existing Côte d’Ivoire footprint and enhancing its exposure to one of West Africa’s most promising gold provinces. By integrating these projects, Santa Fe aims to build a comprehensive exploration pipeline that balances early-stage potential with near-term drill targets, positioning the company for growth in a competitive gold exploration landscape.

While the acquisition relies on historical drilling data from WIA Gold and requires shareholder and regulatory approvals, the deal’s structure, including performance rights tied to resource milestones, aligns incentives and underscores confidence in the projects’ potential. Investors will be watching closely as Santa Fe progresses through the approval process and begins to unlock value from these West African assets.