African Gold Ltd's Maiden Gold Resource at Didievi Project, Cote d'Ivoire
A1G (A1G) Share Update July 2024 Wednesday 31st
African Gold Ltd Announces Maiden Gold Resource at Didievi Project
African Gold Ltd (ASX: A1G) has announced a significant milestone with the release of a maiden gold resource estimate for the Didievi Project in Cote d'Ivoire, highlighting an inferred resource of 450,000 ounces at a grade of 2.9 g/t Au.
Instant Summary:
- 450,000 ounces of gold at 2.9 g/t Au inferred resource on the Blaffo Guetto Prospect.
- Resource potentially suitable for open pit mining.
- Upcoming 2,000m diamond drilling program to commence in August 2024.
- Exceptional drilling results include 10.0m at 123.0g/t gold and 17.4m at 17.0g/t gold.
Resource Details
African Gold Ltd (ASX: A1G) has revealed a maiden inferred resource of 450,000 ounces of gold at a grade of 2.9 g/t Au on the Blaffo Guetto Prospect within the Didievi Project, Cote d'Ivoire. This resource is based on extensive drilling data compiled by African Gold and previous project owners, and was prepared by Massa Geoservices.
The resource estimate was made at a 1.0 g/t Au cut-off grade and is reported to be shallow, potentially suitable for open pit mining. The Blaffo Guetto Prospect is just one of several high-potential areas within the Didievi Project, which also includes artisanal gold and geochemical prospects.
Drilling Results
Significant drilling results from the Blaffo Guetto Prospect include:
- 10.0m at 123.0g/t gold from 66m, including 2.0m at 613.0g/t gold (DRC334)
- 17.4m at 17.0g/t gold from 244m, including 1.0m at 216.0g/t gold (DDD0029)
- 83.3m at 3.3g/t gold from 166.9m, including 18.0m at 12.0g/t gold (DDD01)
- 80.0m at 3.0g/t gold from 0m, including 23.0m at 9.5g/t gold (DDD013)
- 37.0m at 7.7g/t gold from 42m, including 24.0m at 11.0g/t gold (DRC208)
- 27.0m at 4.6g/t gold from 46m, including 11.0m at 11.1g/t gold (DRC337)
- A broad mineralised halo extending from surface of 231.0m at 1.0g/t gold (DDD044), including 38.0m at 4.1g/t gold from 165m
Future Exploration
To build on these promising results, African Gold Ltd is set to commence a 2,000m diamond drilling program in August 2024. This program aims to infill undrilled areas and potentially increase the scale of the resource. The Didievi Project has numerous other high-potential prospects, including the Kouassi and Akissi Prospects, and the 11km long Poku Trend.
Project Location and Geology
The Didievi Project is strategically located within 60km of three operating multi-million ounce gold mines, including Perseus Mining's Yaoure mine and Allied Gold's Bonikro and Agbaou mines. The project area is characterized by the Oumé-Fetekro greenstone belt of the Birimian tectono-stratigraphic complex, known for its significant gold deposits.
The announcement of a maiden gold resource at the Didievi Project is a significant milestone for African Gold Ltd. This resource estimate not only enhances the company's asset base but also positions it favorably for future exploration and development. The potential for open pit mining adds to the economic viability of the project. However, the market reaction will depend on the success of the upcoming drilling program and the company's ability to expand the resource.
Investor Reaction:
Analysts are likely to view this announcement positively, given the high-grade nature of the resource and the potential for further expansion. The commencement of the diamond drilling program in August 2024 will be closely watched by investors, as it could lead to an increase in the resource estimate and further enhance the project's value.
Conclusion:
Investors should keep an eye on African Gold Ltd's upcoming drilling program and the potential for resource expansion at the Didievi Project. The company's strategic location and high-grade resource make it a promising investment opportunity in the gold sector.