Turaco Gold's Woulo Woulo Drilling Results Show Significant Resource Growth Potential
TURACO GOLD LIMITED (TCG) Share Update September 2024 Tuesday 24th
Turaco Gold Announces Significant Drilling Results at Woulo Woulo
Turaco Gold Limited (ASX: TCG) has announced further promising drilling results from its Woulo Woulo deposit within the Afema Project in southeast Côte d'Ivoire, indicating significant resource growth potential.
Instant Summary:
- Final five diamond drill holes (1,770m) at Woulo Woulo show significant extensions to the MRE.
- Drill holes confirm or exceed average grades, demonstrating excellent continuity.
- Key results include 92m @ 1.65g/t gold from 181m and 211m @ 0.90g/t gold from 206m.
- Metallurgical characteristics show 90-94% gold extraction from conventional cyanide leaching.
- Exploration drilling underway at Herman Mine trend and Jonction deposit.
Drilling Results
Turaco Gold Limited has received results for the final five diamond drill holes at the Woulo Woulo deposit, totaling 1,770 meters. These results are not included in the recently announced maiden JORC Mineral Resource Estimate (MRE). The drill holes returned significant extensions to the MRE, confirming or exceeding average grades and demonstrating excellent continuity.
Key results include:
- 92m @ 1.65g/t gold from 181m (Hole 24WOUDD0201)
- 211m @ 0.90g/t gold from 206m (Hole 24WOUDD0199)
- 59m @ 1.58g/t gold from 224m (Hole 24WOUDD0200)
- 89m @ 1.00g/t gold from 149m (Hole 24WOUDD0202)
- 89m @ 0.96g/t gold from 218m (Hole 24WOUDD0203)
Resource Growth and Metallurgy
The drill holes demonstrate that the width of mineralization is consistent at least 90 meters below previous drilling incorporated into the MRE, with higher grades encountered over a strike of more than 500 meters. The interpreted true width of the holes is 50% of the down hole intercept, except for hole 24WOUDD0199, which has an interpreted true width of 25-30% of the down hole intercept.
Metallurgical characteristics of Woulo Woulo are excellent, with 90-94% gold extraction from conventional cyanide leaching. Pre-feasibility study (PFS) level optimization and variability test work are currently underway.
Ongoing Exploration
Exploration drilling is underway at the Herman Mine trend, which is parallel and 700 meters west of Woulo Woulo, and at the Jonction deposit. Reverse circulation (RC) drilling is set to commence at the Nianemlessa trend in the next two weeks.
Managing Director Justin Tremain commented, 'These excellent results continue from recently announced extensional drilling at Woulo Woulo and show higher grades across broad +50m widths at depth beyond the limits of the current Woulo Woulo MRE. The results confirm resource growth at Woulo Woulo, at higher grades.'
Drilling at the Afema Project is ongoing as the company begins to test high-priority exploration targets to make new discoveries within a 10km radius of the current 2.52Moz MRE.
The significant drilling results at Woulo Woulo indicate potential resource growth, which could positively impact Turaco Gold's stock price. The high grades and excellent continuity of mineralization are promising signs for future resource estimates. The strong metallurgical characteristics further enhance the project's viability.
Investor Reaction:
Analysts are likely to react positively to the news, given the promising drilling results and potential for resource growth. The high grades and excellent continuity of mineralization are expected to boost investor confidence in Turaco Gold's prospects.
Conclusion:
Investors should closely monitor Turaco Gold's ongoing drilling and exploration activities at the Woulo Woulo deposit. The promising results indicate significant resource growth potential, which could positively impact the company's stock price. Stay tuned for further updates and consider the long-term potential of Turaco Gold's projects.