Skip to main content
Afema Gold Project

Afema Gold Project

Project Location

The Afema Project is located in south-east Côte d’Ivoire on the Ghanian border, 120kms east of Abidjan and is serviced by a new bituminised major highway connecting Abidjan to Ghana. Two of Côte d’Ivoire’s major hydro-power schemes are located on the north-western boundary of the Afema Project area.

The Afema Project is on a granted mining permit supported by a Mining Convention between Afema Gold SA (mining permit holding entity) and the State of Côte d’Ivoire. The granted mining permit covers an area of 227km2 and was granted in December 2013 and is valid until December 2033, with a 20-year renewal option thereafter. Turaco was recently granted three contiguous exploration permits covering a combined area of 812km2, providing a total granted Afema Project area of 1,040km2. A further exploration permit application is also held covering an additional 228km2 and Turaco recently secured an option over an additional application area cover 366km2, providing a total Afema Project area of over 1,600km2.

Afema Project Location

Highlights for the June Quarter 2024

Turaco Gold Limited (ASX | TCG) (‘Turaco’ or the ‘Company’) continued to progress exploration and development activities at the Afema Project (“Afema” or the “Afema Project”) in southeastern Côte d’Ivoire throughout the three-month period ended 30 June 2025.

Updated Mineral Resource

  • In May 2025, the Company released an updated independent JORC Mineral Resource Estimate (‘MRE’) of 3.55Moz for the Afema Project.
  • The entire reported MRE is located within the granted Afema mining permit.
  • 40% growth on the previous maiden MRE announced less than 8 months earlier in August 2024, at higher gold grade with improved average overall gold leach extractions of 84-90% being achieved across all deposits.
  • MRE growth delivered at a cost of less than US$8/oz inclusive of all regional exploration and corporate costs.
  • MRE reported at 0.5g/t gold lower cut-off within constrained open pit shells with coherent higher grade gold shoots at Jonction and Anuiri reported as ‘underground’ resources at a 1.5g/t gold lower cut-off beneath the pit shells.
  • MRE of 3.55Moz excluded resource extension and infill results and recent exploration success from drilling at several prospects, all located within 10kms of the MRE deposits.
  • Turaco is targeting delivering growth and an MRE update prior to the end of calendar year 2025.
Afema Project
JORC 2012 Mineral Resource Estimate
Deposit Tonnes Gold Grade Ounces ('000)
Woulo Woulo 50.9Mt 1.0g/t 1,600
Jonction 9.1Mt 2.1g/t 610
Anuiri 9.7Mt 1.7g/t 520
Asupiri 21.1Mt 1.2g/t 820
Total 90.8Mt 1.2g/t 3,550

(figures may not add up due to appropriate rounding)

High Grade Gold in Drilling Along Strike from Jonction

  • Drilling at Toilesso 2kms north of the Jonction Deposit (MRE of 610koz @ 2.1g/t gold) confirmed additional high-grade gold shoots along strike from the Jonction Deposit, returning results including 20m @ 3.67g/t gold.
  • ‘Scout’ drilling identified new zones of anomalism and mineralisation at ‘Jonction South’ with highly encouraging results including 7m @ 1.56g/t gold, representing another potential mineralised shoot 400m south of the Jonction Deposit.
  • A Gradient Array Induced Polarisation (‘GAIP’) survey has identified the primary controlling structure of Jonction and delineated several kilometres of undrilled prospective strike.

Multiple Additional Mineralised Structures Identified at Woulo Woulo

  • ‘Scout’ drilling undertaken during the Quarter adjacent to the Woulo Woulo deposit (MRE 1.6Moz at 1.0g/t gold) testing for additional parallel mineralised structures, returned a high-grade intercept (announced following Quarter end) of 4m @ 82.01g/t gold (including 1m @ 324.58g/t gold) with no drilling along strike.
  • The result is the second highest gold grade drill assay recorded in the entire Afema Project database.
  • Drilling further east also returned encouraging results (announced following Quarter end) of 23m @ 0.63g/t gold and 32m @ 0.72g/t gold along another mineralised structure.
  • Auger drilling at the Herman Trend, located to the immediate southwest of Woulo Woulo, has extended the mineralised strike to 1.2kms with diamond drilling currently underway.
  • Results confirm multiple additional gold bearing structures outside the 1.6Moz Woulo Woulo Deposit, with potential for higher grades.

Exploration Success at Baffia

  • Follow-up diamond drilling at Baffia during the Quarter returned a new result (announced following Quarter end) of 14m @ 1.19g/t gold within a broad halo of alteration.
  • Auger drilling at Baffia has defined additional undrilled in-situ gold trends with up to 1,351ppb gold in auger extending +1km.
  • Baffia is located within the granted exploration permit adjoining the granted Afema Mining Permit, approximately 3 kms to the northwest of the Jonction Deposit.
  • The results at Baffia demonstrate the prospectivity of the broader Afema Project tenure beyond the granted Afema Mining Permit and highlight the under explored nature of Turaco’s ground holding at Afema.

Acceleration of Drilling Activity

  • During the June Quarter, Turaco completed just under 20,000 metres of drilling across the Afema Project.
  • Despite the onset of the wet season in Côte d’Ivoire, additional access works have allowed drilling to accelerate with a fourth drill rig mobilised to site, all operating on double shift with results pending for recent drilling completed at Adiopan, Begnopan and other targets along the Afema Shear.
  • Baffia is located within the granted exploration permit adjoining the granted Afema Mining Permit, approximately 3 kms to the northwest of the Jonction Deposit.
  • Drilling is focussed on testing for new discoveries, resource extensions and infill. Additionally, geotechnical drilling has commenced in conjunction with continued metallurgical drilling to provide samples for optimisation and variability test work.

Study Update

An Afema Project Preliminary Feasibility Study (‘PFS’) has commenced and expected to be completed H1 CY2026. Environmental and social impact assessment (‘ESIA’) commenced with the appointment of ‘Earth Systems’ as lead consultant, targeting final submission by end of 2026 to obtain environmental permitting for development.

Turaco Côte d’Ivoire Project Locations

Afema Project Permit Area Geology and Deposit & Prospect Locations

New Highway Under Construction and High Voltage Transmission Lines (southern Mining Permit boundary)

Afema Core Yard