How Did Turaco Gold Grow Afema’s Resource to 4.65Moz in Under Two Years?

Resource Growth Accelerates

Turaco Gold Limited has announced a substantial update to its Afema Project in southeastern Côte d’Ivoire, with the independent JORC Mineral Resource Estimate (MRE) now standing at 115.3 million tonnes grading 1.3 grams per tonne gold, containing 4.65 million ounces. This represents a 590,000-ounce increase in less than five months since the previous update in October 2025, reflecting the company’s aggressive and successful drilling strategy.

The resource growth is driven by additional drilling at key deposits including Woulo Woulo, Jonction, Anuiri, and Asupiri, alongside the maiden resource declaration for the Herman Deposit, which lies adjacent to Woulo Woulo. The Herman Deposit adds a higher-grade opportunity with 100,000 ounces at 1.6 g/t gold, complementing the bulk tonnage deposits.

Strategic Project Development

All deposits, except Herman which partly lies on an exploration permit, are within the granted Afema mining permit, providing a solid tenure foundation. The project benefits from proximity to major infrastructure, including a new highway connecting Abidjan to Ghana and nearby hydro-power schemes, enhancing its development potential.

Turaco is advancing the Afema Preliminary Feasibility Study (PFS), scheduled for completion in the second quarter of 2026. The updated resource will underpin this study, which aims to define the project’s production scale and economics. The company anticipates declaring a maiden JORC Ore Reserve Estimate within the PFS, with minimal additional infill drilling required for the subsequent Definitive Feasibility Study.

Robust Metallurgical Performance

Metallurgical test work across the deposits confirms strong gold recoveries, ranging from 84% to over 90% using conventional cyanide leaching and flotation processes. These results support the economic viability of the mineralisation and provide confidence in processing strategies. While Herman has yet to undergo metallurgical testing, its geological similarity to Woulo Woulo suggests comparable amenability.

Exploration and Resource Expansion Potential

Drilling continues at a rate of approximately 10,000 metres per month, with multiple rigs operating across the project. Encouraging results along the Niamienlessa-Affienou Trend and other areas not yet included in the current MRE hint at further resource upside. The mineralisation remains open along strike and at depth, particularly at deposits like Jonction and Asupiri, where high-grade underground shoots offer medium-term exploration targets.

Turaco’s Managing Director, Justin Tremain, highlighted the rapid resource growth achieved since acquiring Afema less than two years ago, attributing it to the company’s technical expertise and extensive drilling programs. The focus now shifts to demonstrating the project’s economic potential through the PFS while maintaining momentum in resource expansion.