Boundiali Gold Project

(held in Turaco Gold-Predictive Discovery JV)

(refer to ASX announcement dated 21 May 2021)
The Boundiali Gold Project covers two contiguous granted exploration permits covering 572km2. The southern exploration permit (PR414) is held 100% by a Resolute-Predictive JV (Resolution Mining Limited (ASX:RSG) – Predictive Discovery Limited (ASX:PDI) joint ventrure) and has been the focus of exploration work and includes the Nyangboue gold discovery and is Turaco’s primary focus for the Boundiali Gold Project.

The Boundiali belt is a highly prospective greenstone belt hosting Resolute’s world class Syama gold mining operation and Tabakoroni deposit. On the belt’s southern extension into Cote d’Ivoire several smaller high-grade deposits have been discovered, including Perseus Mining Ltd’s Sissingue gold operation and Bagoe deposits and Montage Gold’s recent 3.2Moz Kone gold discovery (https://www.montagegoldcorp.com/projects/morondo/) to the southwest where it merges with the Senoufo belt.

Turaco’s management team has demonstrated exploration success on the Boundiali belt with the discovery of the Bagoe deposits by Exore Resources Ltd (acquired by Perseus in September 2020) and believe the Boundiali belt remains prospective for further discoveries, including world class deposits.

The Boundiali project area covers the under explored southern extension of the Boundiali belt where a highly deformed synclinal greenstone horizon traverses finer grained basin sediments and to the west Tarkwaian clastic rocks lie in contact with a granitic margin.

Boundiali Gold Project – Geology and Gold-in-Soils Anomalies

Boundiali Gold Project – Soil Geochemistry

Initial exploration undertaken on the southern permit of the Boundiali Gold Project includes stream sediment sampling and ~7,000 geochemical soil samples collected over the permit area. Detailed aeromagnetic and IP surveys have also been conducted across the permit.

The soil sampling undertaken in 2015 and 2016 defined three large gold anomalies on the southern permit:

  • Nyangboue – >6km strike length gold-in-soils anomaly associated with the greenstone horizon in the north-east corner of the southern Boundiali permit and open into the Boundiali northern permit
  • Nyangboue South – >2km strike length gold-in-soils anomaly ~6km along southern strike to Nyangboue
  • Gbemou – >1.5km strike length gold-in-soils anomaly in the north-west of the Boundiali south permit

At Nyangboue, an initial wide-spaced RC program of 92 holes for 5,496m (average hole depth 60m) was undertaken in mid-2016 focussing only on the southern 2km of the >6km Nyangboue gold anomaly.  The success of the first phase of RC drilling led to a second and third phase of infill RC drilling program of 47 holes for 5,198m, still focussing on just the southern 2km of the >6km gold anomaly, and a small diamond drill program of 10 holes for 1,658m.

Significant drill results include (refer Predictive ASX announcements dated 23 June 2016, 25 July 2016, 8 August 2016, 17 May 2017, 29 May 2017, 27 May 2019):

  • 20m @ 10.45g/t gold fr 38m (BRC0004S, being a re-drill of BDRC004 to extend the hole)
  • 30m @ 8.30g/t gold fr 39m (NDC007)
  • 20m @ 1.97g/t gold fr 0m and 14m @ 5.51g/t gold fr 32m (BRC004)
  • 28m @ 4.04g/t gold fr 3m and 6m @ 3.29g/t gold fr 47m (BRC003)
  • 9m @ 7.90g/t gold fr 99m (BRC006)
  • 27m @ 2.42g/t gold fr 27m (BRC175)
  • 28m @1.55g/t gold fr 1m (BRC048)
  • 4.5m @ 6.59g/t gold fr 75m (NDC001)
  • 9m @ 2.86g/t gold fr 68m (BRC183)

Boundiali Gold Project – Nyangboue Drill Hole Plan

This discovery provides high priority walk-up drill targets with potential for definition of a JORC Mineral Resource estimate.