Enegex Secures 3,700km² Gold Portfolio in Côte d’Ivoire, Raises $5M for Drilling

Strategic Acquisition in a Prolific Gold Region

Enegex Limited has taken a decisive step to broaden its exploration horizons by entering binding agreements to acquire Famien Resources Pty Ltd, a private company holding a substantial portfolio of gold exploration permits in Côte d’Ivoire. This acquisition adds more than 3,700 square kilometres of highly prospective ground within the Birimian greenstone belts, a geological setting renowned for hosting some of West Africa’s most significant gold deposits.

The portfolio includes seven granted exploration permits and four applications, positioning Enegex as a notable player in the region. Initial exploration efforts will concentrate on two priority areas – the Bonoubana gold trend within the Gogo Permit and a drill-ready target in the Tougbe Permit. Both targets exhibit compelling geological and geochemical signatures, including a 1.2-kilometre-long gold-in-soil anomaly averaging 0.42 grams per tonne gold at Gogo, and historical aircore drilling intercepts at Tougbe averaging up to 39 metres at 0.7 grams per tonne gold.

Experienced Leadership to Drive Growth

Central to Enegex’s strategy is the appointment of Paul Roberts as Managing Director. Roberts brings over 40 years of exploration experience, including leading the discovery of the 5.5 million ounce Bankan Gold Project in Guinea. His expertise in the Birimian Belt and mineral systems targeting approach is expected to accelerate the identification of new gold deposits within the acquired portfolio.

Supporting Roberts is a strengthened board and management team, including Eric Kondo, a respected Ivorian mining lawyer with deep local networks, and Dr Barry Murphy, an exploration targeting advisor with extensive West African experience. This team is well-equipped to navigate the technical and regulatory landscape, enhancing Enegex’s potential for discovery success.

Funding and Exploration Plans

To underpin its ambitious exploration program, Enegex has secured firm commitments for a $5 million placement, subject to shareholder approval. The funds will be allocated to rapidly advance drilling at the Gogo and Tougbe projects, conduct early-stage exploration across the broader Côte d’Ivoire portfolio, and support ongoing work in Western Australia, where Enegex maintains a strategic tenure position.

Exploration will follow a systematic, staged approach, beginning with detailed soil sampling, auger drilling, and geophysical surveys, progressing to reconnaissance aircore and reverse circulation drilling. This disciplined methodology aims to efficiently evaluate large areas while focusing capital on the most prospective targets.

Complementing Australian Assets and Future Growth

The acquisition significantly expands Enegex’s footprint beyond its established Western Australian projects, creating a dual-continental portfolio that leverages expertise in both regions. The company’s Australian assets lie within the West Yilgarn province, known for world-class mineral deposits, and the new West African projects offer exposure to one of the world’s most prolific gold provinces.

With exploration permits secured, a seasoned leadership team in place, and funding committed, Enegex is poised to deliver frequent updates as drilling programs commence in the coming months. The company’s mineral systems approach, combined with the scale and quality of the acquired ground, sets a promising platform for potential large-scale gold discoveries.