Traka enters into 75% earn-in agreement in Guinea
ASX-listed Traka Resources has signed an exclusive agreement with Guinea-based Alamako Corporation International to earn a 75% interest in the Didi gold project, which is highly prospective for gold.
The 75.45 km2 Didi exploration licence is located 12 km east of AngloGold Ashanti’s Siguiri gold mine.
Traka has appointed Guinean entrepreneur Sekou Cheick Traore as its in-country manager. He is currently a GM at Canada-listed Sanu Gold Corporation, which is exploring three gold exploration permits in Guinea.
Historical drill results and widespread artisanal activity have confirmed evidence of a significant gold system at Didi, with intercepts having included 1 m of gold grading 6.5 g/t from 79 m; 3 m of gold grading 2.7 g/t from 15 m; 1 m of gold grading 7.46 g/t from surface; and 1 m of gold grading 7.42 g/t from surface.
Notably, Alamako conducted trenching and geochemical sampling at Didi, having found 24 m of gold grading 3.66 g/t from surface down to 24 m in the Didi-1 North target area.
The Siguiri basin, in which the project is based, hosts numerous multimillion-ounce gold deposits, which have the potential to deliver large-scale and high-margin discoveries.
The basin remains largely underexplored using modern techniques, Traka confirms, adding that Guinea offers a supportive mining framework with established permitting pathways and a growing infrastructure base.
Traka will have the right to earn a 75% interest in the project by solely funding and undertaking exploration programme and activities worth $1-million over the next 36 months. The work will include geophysics, mapping, drilling and internal resource modelling across three targets of the project towards a mineral resource estimate and preeasibility study.
Following this, the companies will establish joint venture that will be 25% owned by Alamako.
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