African Gold Doubles Blaffo Guetto Resource, Launches Massive Drilling Push
African Gold Ltd has reported a remarkable 119% increase in its Blaffo Guetto inferred gold resource to nearly 1 million ounces, underpinning a fully funded 40,000m drilling program at its Didievi Project in Côte d’Ivoire.
- Blaffo Guetto inferred resource jumps 119% to 989,000oz at 2.5g/t Au
- 40,000m drilling campaign underway to expand Didievi resources
- Strategic investment by Montage Gold completed, holding 17.5% stake
- Strong cash position of approximately A$11.5 million to fund exploration
- Divestment of Mali assets to focus on Côte d’Ivoire projects
Resource Upgrade Signals Growing Potential
African Gold Ltd (ASX, A1G) has delivered a significant boost to its mineral resource base with a 119% increase in the inferred gold resource at its flagship Blaffo Guetto deposit in Côte d’Ivoire. The updated resource now stands at 989,000 ounces at an average grade of 2.5 grams per tonne, within 12.4 million tonnes of ore. This milestone not only validates the company’s exploration strategy but also positions Blaffo Guetto as a cornerstone asset within the broader Didievi Gold Project.
The resource upgrade was achieved at a low discovery cost of under US$5 per ounce, highlighting the efficiency of African Gold’s exploration approach. The mineralisation remains open at depth and along strike, suggesting further upside potential as drilling continues.
Ambitious Drilling Program Underway
The drilling campaign is expected to extend well into 2026, with strategic partner Montage Gold Corp leading on-ground exploration efforts. The partnership with Montage, formalised through a recent strategic investment, brings both financial strength and technical expertise to African Gold’s growth ambitions.
Strategic Partnership and Financial Position
In June 2025, African Gold completed a strategic investment deal with Montage Gold Corp, involving a share swap and a private placement. Montage now holds approximately 17.5% of African Gold, while African Gold holds Montage shares valued at around A$9.8 million. This cross-holding arrangement not only strengthens the companies’ alliance but also provides African Gold with a valuable financial buffer, should it choose to monetise part of its Montage stake to fund future operations.
At quarter-end, African Gold reported a solid cash position of approximately A$1.67 million, supplemented by liquid assets and the Montage shareholding, collectively supporting ongoing exploration activities. The company’s disciplined capital management is evident in its focused expenditure on high-impact projects, with $902,000 spent on exploration during the quarter.
Refocusing on Côte d’Ivoire
Reflecting a strategic pivot, African Gold has divested its Mali assets due to geopolitical challenges, concentrating its efforts on Côte d’Ivoire’s promising gold belts. Exploration at the Konahiri Project is advancing with soil geochemistry surveys and planned maiden drilling, aiming to replicate the success seen at Didievi.
With multiple prospects showing encouraging results and a clear pathway to building a multi-million-ounce gold system, African Gold is positioning itself as a notable player in West Africa’s gold exploration landscape.
Bottom Line?
African Gold’s resource surge and aggressive drilling program set the stage for a pivotal year ahead in Côte d’Ivoire exploration.
Questions in the middle?
- How will ongoing drilling results at Pranoi and Poku influence the overall resource estimate?
- What are the timelines and milestones for potential resource upgrades beyond Blaffo Guetto?
- Could African Gold monetise its Montage shareholding to accelerate development or exploration?
