https://newsletter.mw.creamermedia.com
Exploration|Gold|PROJECT
Exploration|Gold|PROJECT
exploration|gold|project

Turaco secures rights to expand Afema project area in Cote d’Ivoire

9th December 2024

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

ASX-listed Turaco Gold, and its 100%-owned subsidiary Turaco Côte d’Ivoire, have entered into an exclusivity and option agreement with Pioneer Minerals, securing acquisition rights over an additional 366 km2 of prospective exploration tenure adjoining Turaco’s 2.52-million-ounce Afema project in south-east Côte d’Ivoire.

The transaction further extends Turaco’s coverage of the Sefwi greenstone belt within Côte d’Ivoire to include additional prospective shear corridors, including the western margin of the main volcanic sequence.

Turaco says it is unaware of any previous exploration activities over the permit application area, highlighting the underexplored nature of the area.

The permit lies immediately south of the hydroelectricity-producing lake, Lac Ayame, which is aligned in a prominent north-easterly trend suggesting a strong north-east structural grain in the area consistent with prospective regional shear zones, the company points out.

Upon granting of the exploration permit, Turaco may elect to acquire a 12-month option to undertake initial reconnaissance exploration consisting of low-cost generative exploration techniques such as stream sediment and reconnaissance soils sampling possibly paired with airborne geophysics.

These programmes will form the basis of Turaco’s decision to exercise the option to acquire 100% of the granted permit. 

Exclusivity has been secured for an upfront payment of $75 000 in Turaco shares.

Upon granting of exploration permit, Turaco has the right to pay $100 000 for a 12-month option to acquire 100% of the granted exploration permit.

Turaco will use the 12-month option period to undertake permit-wide stream and soil geochemical sampling before making a decision to exercise the option.

At any time during the 12-month option period, Turaco may (at its election) acquire 100% of the exploration permit in return for the issue of 2.25-million Turaco shares and the granting of a 2% net smelter royalty.

“Securing exclusivity over this application allows Turaco to materially expand the Afema project area to over 1 600 km2.

“Importantly, the application further consolidates Turaco’s control over the majority of the interpreted extension of the prolifically mineralised Sefwi Belt in Côte d’Ivoire. It is a relatively low cost for exclusivity and a 12-month option to undertake initial reconnaissance exploration in this prospective region,” says MD Justin Tremain

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 
 

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Minerals Council South Africa CEO Mzila Mthenjane
Minerals Council optimistic about ongoing MPRDA review
13th December 2024 By: Marleny Arnoldi
Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.107 0.187s - 144pq - 2rq
Subscribe Now