Enegex Limited has defined a large, shallow gold system at its Kalama Bave prospect in Côte d’Ivoire, with high-grade intercepts from aircore drilling and a new gold zone identified nearby. A $10.2 million capital raise supports ongoing exploration including a planned 3,000m RC program at Gogo.
- Kalama Bave drill target defined over 10 hectares with strong gold intercepts
- New AW1 gold zone identified with artisanal workings averaging 1.26g/t Au
- 900m gold anomaly confirmed at Gogo project under alluvial cover
- 3,000m RC drilling planned for June quarter at Gogo
- $10.2 million raised to fund expanded exploration in Côte d’Ivoire
Kalama Bave Emerges as a Significant Gold Target
Enegex Limited (ASX:ENX) has unveiled compelling evidence of a broad, shallow gold mineralised system at its Kalama Bave prospect within the Tougbe permit in Côte d’Ivoire. A combination of power auger and angled aircore drilling has delineated a 650m long, 10-hectare target zone with consistent gold grades. Notably, aircore hole TOAC074 returned 24m at 3.72 g/t Au from surface, including a blistering 4m at 20.40 g/t Au, confirming the presence of high-grade mineralisation near surface. The shallow angled drilling, designed to cover the target area comprehensively, suggests the mineralisation dips gently, contrasting previous assumptions of steep dips and hinting at potential supergene enrichment or primary lodes near surface.
These results build on earlier vertical AC drilling and power auger programs that showed encouraging all-of-hole average grades, such as TOAU0038 with 18m at 1.59 g/t Au. The combined data indicate a well-mineralised system that remains open along strike and at depth, with Enegex planning reverse circulation (RC) drilling to test fresh rock below the weathered profile. This maiden aircore campaign and its strong intercepts mark a significant step in advancing Kalama Bave as a priority drill target within the company's expanding West African portfolio. The robust nature of the mineralisation over a large area reinforces the prospect’s potential for resource development and justifies further investment in deeper drilling and geological modelling.
Discovery of AW1 Gold Zone Adds New Dimension
Approximately 4.5km south-southwest of Kalama Bave, Enegex has identified a new gold prospective zone, AW1, marked by a 500m long corridor of artisanal workings. Sampling of 36 pits revealed an average grade of 1.26 g/t Au, with standout values up to 7.83 g/t Au. The gold anomalies predominantly occur in saprolite derived from metasediments and lack quartz veining, indicating a disseminated style of mineralisation rather than vein-hosted gold. This geological setting suggests a different mineralisation style from Kalama Bave and opens a fresh exploration front along a major northeast-trending structure parallel to the Kalama Bave system.
Leveraging the aircore rig still onsite, Enegex completed a 661m angled AC drill program at AW1 targeting the highest-grade artisanal areas, with assay results pending. This rapid follow-up reflects the company’s agile approach to testing new targets as they emerge. The AW1 zone’s discovery and early drilling activity demonstrate Enegex’s commitment to expanding its footprint in Côte d’Ivoire and exploring multiple gold styles within its tenure.
Gogo Project Reveals Under-Cover Gold Continuity
At the Gogo permit, power auger drilling has confirmed a 900m long gold anomaly beneath alluvial cover between the northeast and south Bonoubana soil anomalies, with the best intercept being 9m at 1.36 g/t Au. Trenching across the area revealed sheared felsic volcanics with disseminated sulphides but generally lower gold grades than surface soils, suggesting complex regolith processes may be affecting gold distribution. Importantly, a 600m long artisanal high-grade quartz vein system remains untested by trenching, representing a compelling drill target.
To advance Gogo, Enegex plans a 3,000m RC drilling campaign commencing in early May 2026. This program aims to test beneath the artisanal workings and the newly defined bedrock anomalies, seeking to delineate potentially economic mineralisation. The Gogo and Tougbe permits together cover over 1,500km² of highly prospective ground in the prolific Birimian Belt, positioning Enegex well within a renowned West African gold province.
Western Australia Exploration Continues with Rocky Ridge Aircore Program
Beyond West Africa, Enegex has maintained exploration momentum in Western Australia’s West Yilgarn region. A 49-hole aircore program at the Rocky Ridge prospect targeted aeromagnetic anomalies beneath transported cover and intersected anomalous gold values, albeit at modest grades. The drilling confirmed prospective mafic lithologies and highlighted untested structural targets warranting further investigation. This activity complements the company’s Côte d’Ivoire focus and maintains a diversified exploration portfolio.
Capital Raise and Corporate Update Support Exploration Drive
To fund its aggressive exploration agenda, Enegex successfully completed a $10.2 million private placement during the quarter, which included participation from directors. This capital injection has bolstered the company’s cash position to $14 million at quarter-end, providing a solid financial platform for upcoming drill programs and ongoing field activities. Following shareholder approval post-quarter, Enegex will rebrand as Famien Resources Limited, aligning its corporate identity with its expanded West African focus.
The company’s strategic acquisition of Famien Resources Pty Ltd in late 2025 underpins its Côte d’Ivoire expansion, and recent drilling results validate this move. With multiple drill-ready targets, including the promising Kalama Bave and AW1 zones, and the imminent Gogo RC program, Enegex is well-positioned to advance its gold exploration story in two continents simultaneously.
These developments reflect a methodical and data-driven exploration approach, with the company balancing early-stage discovery with systematic follow-up programs. The pending assay results from AW1 and the results from the upcoming Gogo drilling will be critical in shaping the next phase of exploration and potential resource definition.
Investor attention will likely focus on how these initial shallow intercepts translate into broader mineralised systems and whether the company can convert artisanal workings and soil anomalies into economically viable deposits. The interplay between shallow weathered mineralisation and deeper primary zones remains a key technical question as Enegex progresses its drilling campaigns.
The company’s dual focus on Côte d’Ivoire’s Birimian Belt and Western Australia’s West Yilgarn province offers a diversified exploration pipeline, but the near-term catalysts clearly centre on West Africa’s emerging gold zones and the execution of substantial RC drilling programs.
As Enegex transitions to Famien Resources, market participants will be keen to see if this rebranding accompanies a step-change in exploration results and investor recognition.
Amidst these promising developments, the timing and outcomes of the AW1 assay results and Gogo RC drilling will be pivotal in defining the company’s exploration trajectory over the coming quarters.
Bottom Line?
Enegex’s extensive drilling at Kalama Bave and discovery of AW1 underpin a growing gold footprint in Côte d’Ivoire, but pending AW1 assays and upcoming Gogo RC results will be critical to confirm the scale and economic potential of these early-stage targets.
Questions in the middle?
- Will the AW1 aircore drilling assays confirm the high-grade artisanal sampling and indicate a new style of gold mineralisation?
- Can the planned Gogo RC drilling delineate continuous, economically viable mineralisation beneath the artisanal workings and soil anomalies?
- How will the company’s rebranding to Famien Resources influence investor perception and support for its West African exploration strategy?