Turaco Gold has reported significant progress at its Afema Project in Côte d’Ivoire, with the December quarter delivering a 4.06 million ounce gold resource and promising drilling results pointing to further expansion in early 2026.
- Afema Mineral Resource Estimate increased to 4.06 million ounces
- Strong drilling results at Woulo Woulo, Herman, Adiopan, and Anuiri deposits
- Pre-Feasibility Study advancing towards completion in Q2 2026
- Exploration focus shifting to new targets outside current resource footprint
- Robust financial position with A$72.2 million in cash and investments
Afema Project Resource Growth
Turaco Gold Limited (ASX, TCG) has reinforced its position as a rising gold developer with a substantial update on its Afema Project in southeastern Côte d’Ivoire. The December 2025 quarter saw the company expand its Mineral Resource Estimate (MRE) to 4.06 million ounces of gold, a notable increase of over 500,000 ounces since May 2025. This growth underscores the scale and continuity of mineralisation across multiple deposits, including Woulo Woulo, Jonction, Anuiri, Asupiri, Begnopan, and Toilesso.
The company’s drilling campaign, involving five rigs, delivered strong results that not only confirmed existing resources but also revealed new high-grade zones. At Woulo Woulo, the flagship deposit, broad mineralised widths with improved grades were reported, such as 134 metres at 1.07 grams per tonne gold from 216 metres depth, highlighting the deposit’s potential to underpin the project’s economics.
Emerging High-Grade Discoveries
Beyond the established deposits, Turaco’s exploration efforts have uncovered promising new targets. The Herman prospect, located just 700 metres from Woulo Woulo, returned shallow, high-grade intercepts including 8 metres at 4.30 grams per tonne gold, with some assays exceeding 20 grams per tonne. A maiden resource estimate for Herman is anticipated in the first quarter of 2026.
Adiopan, a newly identified high-grade discovery north of the 1.02 million ounce Asupiri deposit, has shown exceptional drill results with broad zones of mineralisation extending over 1.5 kilometres of strike. Recent assays include 42 metres at 2.76 grams per tonne and 25 metres at 3.31 grams per tonne gold, indicating significant potential for material resource growth in the upcoming MRE update.
Advancing Pre-Feasibility and Exploration
Turaco is progressing its Pre-Feasibility Study (PFS) with ongoing metallurgical, geotechnical, hydrogeological, and environmental assessments. The PFS is on track for completion in the second quarter of 2026, supported by the forthcoming updated MRE that will incorporate recent drilling results and maiden estimates for Herman and Adiopan.
Exploration drilling is shifting focus to targets outside the current resource footprint, including Baffia, Kotoka, and the Niamienlessa–Affienou trend. These efforts aim to sustain resource growth and extend the project’s mineralised corridors, leveraging advanced geochemical sampling and geophysical surveys.
Strong Financial and Community Foundations
Financially, Turaco remains well-positioned with approximately A$72.2 million in cash and listed investments, providing a solid foundation for ongoing exploration and development. The company is also investing in community infrastructure, notably constructing a 2-kilometre access road with bridges to improve local connectivity and support exploration activities, reflecting a commitment to sustainable development and stakeholder engagement in the Afema region.
Bottom Line?
With a robust resource base and promising exploration pipeline, Turaco Gold is poised to unlock further value at Afema as it advances towards feasibility and potential production.
Questions in the middle?
- How will the upcoming MRE update impact Turaco’s project valuation and financing options?
- What are the timelines and key risks associated with converting the resource growth into reserves?
- How might community infrastructure developments influence operational efficiency and local support?