MetalsGrove Mining acquires three gold JV permits in Côte d’Ivoire
ASX-listed MetalsGrove Mining has completed the acquisition of three gold joint venture (JV) permits in central-west Côte d’Ivoire.
The permits are strategically located between 60 km and 140 km north-east of fellow ASX-listed miner Tietto Minerals’ 3.8-million-ounce Abujar gold mine, currently in operation, the company points out.
The JV permits cover a total area of 950 km², encompassing over 50 km of highly prospective Abujar fault or shear structures, it adds.
Regional geological sequences indicate favourable characteristics for gold mineralisation.
Highly anomalous auger and soil lag sampling results from neighbouring permits suggest that gold mineralisation is highly likely to extend into the acquired areas, the company posits.
Aeromagnetic surveys reveal a complex structural setting, including several structural pressure shadows and low-strain zones, further enhancing prospectivity.
The presence of artisanal mining activities within the permit area indicates potential for near-surface gold mineralisation.
MD and CEO Lijun Yang points out that transaction activity in the region has accelerated on the back of sustained strength in historical gold prices.
“Supported by a favourable geological setting, encouraging anomalous gold results from adjacent projects, and robust structural data from aeromagnetic surveys, we believe the region holds strong potential for significant gold discoveries.
“Subject to final permitting, we are poised to launch our initial exploration programme without delay,” he informs.
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