Turaco Gold
Primary ticker: ASX: TCG
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Afema Gold Project
Project location: Cote d’Ivoire
Website: www.turacogold.com.au
Turaco Gold Limited (ASX:TCG) is an ASX listed gold exploration company in Cote d’Ivoire with a highly prospective Birimian greenstone terrain tenement package proximal to major mines or discoveries which positions Turaco as a leading Cote d’Ivoire gold explorer.
Turaco’s exploration focus concentrates the Afema Gold Project on the border of Ghana. In August 2024, the Company announced a maiden JORC Mineral Resource Estimate (‘MRE’) for the Afema Project of 2.52Moz gold. The MRE is based on the Woulo Woulo, Jonction and Anuiri deposits and is considered as an ‘interim’ resource with drilling ongoing. It excludes other mineralisation drilled along the Afema shear including the Asupiri, Brahima, Adiopan and Toilesso deposits which will be subject to further drilling and metallurgical testwork.
The interim MRE has been achieved within 5 months of Turaco acquiring its controlling interest in the Afema Project at a total cost of less than US$7 per attributable ounce.
The Company sees this MRE as an ‘interim’ resource and an important first step towards its objective of defining a robust multi-million-ounce gold project in southeastern Côte d’Ivoire. It is seen as just the beginning as the Company embarks on an aggressive exploration drilling program testing compelling, high priority targets with limited or no previous drilling.
Cote d’Ivoire is a country where management has demonstrated exploration success with the discovery of the Bagoe (Antoinette) deposits by Exore Resources Ltd (acquired by Perseus in September 2020 for ~A$80m).
Cash: AUD 48M
Debt: NIL
Major shareholders:
Endeavour Mining
Institutional
High Net Worth
Management ownership – 6%
Financials
Management Profile
Justin Tremain – Managing Director
Experienced company director across the mineral resources sector. Previously the Managing Director of Exore Resources until its takeover by Perseus Mining. Founding Managing Director of Renaissance Minerals until its takeover by Emerald Resources, where he served as Executive Director.
What is your rationale for taking part in 121 Mining Investment?
Meeting existing shareholders and potential new ones.
What recent news would you like to highlight to investors attending?
13 Nov 2024 Immediate Niamienlessa Drilling Success with New Discovery
14 Oct 2024 Discovery of New Parallel Mineralised Trend at Woulo Woulo
25 Sep 2024 Woulo Woulo Growth Continues with 92m @ 1.65g/t in Drilling
27 Aug 2024 Afema Project Maiden JORC Resource Exceeds 2.5Moz Gold
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Resource definition and step out drilling, Met drill & testing; Upgraded JORC Resource
6 Months:
Regional exploration drilling, trenching and geochemistry
12 Months:
Environmental, Social and PFS
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Funding
What do you think makes your company such a compelling investment?
Location, commodity, funded
What are the top 3 key investor takeaways?
Immediate resource growth potential
Well-funded with +A$48M cash
Tier One jurisdiction of West Africa
Proven management track record