The Ferke Gold Project comprises a granted exploration permit covering 300km2 located on the eastern margin of the Daloa greenstone belt at the intersection of major regional scale shear zones, in northern Cote d’Ivoire.
The Turaco-Predictive JV (refer to ASX announcement dated 21 May 2021) is earning into an 85% interest in the Ferke exploration permit in joint venture with a local partner, Gold Ivoire Minerals SARL (‘GIV’), by sole funding exploration through to a Definitive Feasibility Study (‘GIV Joint Venture’). Under the GIV Joint Venture, a 51% interest is to be earned by spending US$1m, a 65% interest by sole funding a further US$2m of expenditure and then 85% by funding completion of a Definitive Feasibility Study (‘DFS’).
Initial exploration undertaken at Ferke Gold Project during 2016 and 2017 comprised of several phases of geochemical stream and soil sampling across the permit area with ~8,000 samples collected which defined the >16km gold-in-soils “Leraba Gold Trend” (refer Predictive ASX announcements dated 14 December 2016, 2 February 2017 and 28 April 2017). Detailed aeromagnetics were flown over the eastern portion of the Ferke Project area in early 2017 covering the Leraba Gold Trend. Aeromagnetics suggests the Leraba Gold Trend is associated with a large-scale flexure on regional scale shear zones.
An initial wide-spaced reconnaissance RC drilling program of 80 holes for 4,989m (average hole depth 62m) was carried out in first quarter of 2018 which returned 25m @ 3.06g/t gold from 64m to end of hole in FNRC016 at the Ouarigue South prospect, located in the south portion of the +16km Leraba Gold Trend (refer Predictive ASX announcement dated 26 June 2018).
This initial discovery hole was then followed up with a 1,960m phase of trenching across the Ouarigue South prospect which returned significant mineralisation in trenches including (refer Predictive ASX announcement dated 13 February 2019):
- 34m @ 5.29g/t gold (trench FNTR035)
- 92m @ 1.76g/t gold (trench FNTR029)
- 78m @ 1.30g/t gold and 22m @ 1.6g/t gold (trench FNTR028)
Following on from the discovery hole FNRC016 and the exceptional trenching results, a total of 18 diamond holes were drilled for 2,718m at Ouarigue South. This maiden diamond drilling program returned highly encouraging results and confirmed a significant gold discovery, with the potential for further discoveries along the +16km Leraba Gold Trend.
- 14m @ 10.74g/t gold fr 33m (FNDC012)
- 45.3m @ 3.16g/t gold fr 45.9m, 10.9m @ 1.94g/t gold fr 95.7m
and 4.7m @ 6.14g/t gold fr 134m (FNDC001)
- 39.7m @ 3.54g/t gold fr 51.4m (FNDC008)
- 9.75m @ 7.46g/t gold fr 104m (FNDC019)
- 40.4m @ 1.88g/t gold fr 104m and 13.65m @ 2.13g/t gold fr 194m (FNDC018)
- 15m @ 2.06g/t gold fr 0m, 10.5m @ 1.71g/t gold fr 34.5m
and 59.7m @ 1.35g/t gold fr 49.5m (FNDC005)
- 45m @ 1.52g/t gold fr 42.1m (FNDC002)
- 33m @ 1.62g/t gold fr 28m (FNDC015)
- 16.5m @ 2.43g/t gold fr 24m (FNDC004)
The Ouarigue South discovery is hosted in a strongly altered and veined granitic intrusion which is not well constrained. Deformation of the host granitic body is controlled by a kilometric scale shear zone associated with the >16km Leraba Gold Trend.
Interpretation of detailed aeromagnetic survey data flown in 2018 suggests that there are many granitic intrusions along the Leraba Gold Trend. Moreover, given the structurally controlled nature of mineralisation and the large scale of the controlling structure there is potential for other favourable lithologies to host volumetrically significant mineralisation.