Can Turaco Sustain Momentum After High-Grade Gold Discovery?

Exploration Breakthrough at Woulo Woulo

Turaco Gold Limited has reported striking results from its recent scout diamond drilling program adjacent to the 1.6 million ounce Woulo Woulo gold deposit within the Afema Project in southeast Côte d’Ivoire. The standout intercept of 4 metres grading 82.01 grams per tonne gold, including a remarkable 1 metre at 324.58 grams per tonne, ranks as the second highest grade ever recorded in the project’s extensive drilling database. This discovery highlights the presence of previously untested, high-grade parallel mineralised structures surrounding the main deposit.

Expanding Mineralised Horizons at Herman and Baffia

Beyond Woulo Woulo, auger drilling has extended the mineralised strike at the Herman Trend to 1.2 kilometres, with diamond drilling now underway to delineate these zones further. At the Baffia prospect, follow-up diamond drilling returned encouraging results, including 14 metres at 1.19 grams per tonne gold from 197 metres depth. Auger sampling has also identified additional undrilled gold trends exceeding 1,300 parts per billion, suggesting significant upside potential across these emerging targets.

Accelerated Drilling and Robust Financial Position

In response to these promising results, Turaco has mobilised a fourth drill rig to the Afema Project, with all four rigs operating on double shifts despite the challenges posed by the wet season. This accelerated drilling campaign aims to grow the current 3.55 million ounce Mineral Resource Estimate and support the ongoing pre-feasibility study. The company’s strong financial position, with cash reserves exceeding A$85 million, provides ample runway to advance exploration and development activities.

Strategic Implications and Next Steps

Managing Director Justin Tremain emphasised the significance of these results, noting the clear demonstration of additional gold-bearing structures outside the established Woulo Woulo resource and the potential for higher grades. The ongoing drilling programs at Herman and Baffia, coupled with results pending from other prospects such as Adiopan and Begnopan, position Turaco well to expand its resource base and enhance project economics. Investors will be watching closely for updated resource estimates and further assay results in the coming months.