Eburnea Gold Project
The Eburnea Gold Project comprises two granted exploration permit covering 688km2 on the Oume-Fetekro greenstone belt of central Côte d’Ivoire, approximately 20km south of the 2.5Moz Fetekro project of Endeavour Mining Corporation. The western permit is underlain by Birimian granitoid-greenstone lithologies. Turaco has the rights to an 80% interest in this permit in joint venture with a local Ivorian group, whereby the Company is responsible for sole funding exploration. Under this joint venture, Turaco holds the option to acquire a further 10% interest (i.e. 90% interest) for US$1M from the local Ivorian group upon the application for a mining permit.
An initial permit wide, broad spaced soil sampling program undertaken by Turaco identified anomalous gold-in-soils within the northern portion of the permit (refer ASX announcement 4 August 2020).
A recent infill program on a 100m by 250m grid has returned very encouraging high tenor anomalism up to 19.6g/t gold. Terrain and ternary radiometrics indicates that these samples are largely in-situ. There are no known artisanal workings across the defined anomalies although there are extensive artisanal workings along strike, with a legally designated artisanal mining area adjoining the permit immediately along strike to the north.
Each of the anomalies have a strike length of >2km. Importantly each contains a very high tenor core to the anomaly of >120ppb gold across consecutive soil sampling lines extending for over 1.5km. All three gold anomalies remain open and limited only by the extent of the soil sampling grid. An area extending for approximately 4.5km between the three gold anomalies remains unsampled.
The eastern permit is held 100% by Turaco.
This permit extends the prospective Ouango-Fitini greenstone sequence. The Ouango-Fitini trend represents the southern extension of the prolific Hounde greenstone belt in Burkina Faso.