African Gold Ltd.

450,000 Oz at 2.9 g/t Au Maiden Gold Resource on the Didievi Project, Cote d’Ivoire

African Gold Ltd (African Gold or the Company) (ASX: A1G) is pleased to present the maiden Mineral Resource Estimate (JORC 2012) on the Didievi Project, Cote d’Ivoire. The Resource is based on the results of drilling completed by African Gold and previous owners of the Project and was prepared by Massa Geoservices.


HIGHLIGHTS

  • Shallow, high grade, maiden gold resource on the Blaffo Guetto Prospect at the Didievi Project
  • Inferred: 4.93Mt for 452koz of gold at 2.9 g/t (1.0 g/t Au cut off)
  • Maiden Inferred Resource is only on the Blaffo Guetto Prospect on the Didievi Project and there are numerous other artisanal gold and geochemical prospects on the Project
  • Shallow resource area potentially suitable for an open pit mine
  • 2,000m diamond drilling program to commence in August 2024 designed to increase the scale of the resource
  • Exceptional drilling results from Blaffo Guetto 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) (ends in mineralisation);
    • 83.3m at 3.3g/t gold from 166.9m including 18.0m at 12.0g/t gold (DDD01) (ends in mineralisation);
    • 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) (ends in mineralisation);
    • 27.0m at 4.6g/t gold from 46m including 11.0m at 11.1g/t gold (DRC337) (ends in mineralisation); and
    • A broad mineralised halo extending from surface of 231.0m at 1.0g/t gold (DDD044) which included:
      • 38.0m at 4.1g/t gold from 165m which is within
      • 79.0m at 2.2g/t gold from 152m
  • Previously announced Exploration Target* on the Blaffo Guetto and Pranoi Prospects of 6.8Mt – 15Mt at a grade of 2.7g/t Au – 3.0 g/t Au for an Exploration Target 596,000 Oz – 1,450,0000 Oz of gold.

Table 1: Didievi Project Maiden Mineral Resource at 1.0 g/t Au cut-off grade

As a result of the successful rights issue in May 2024 raising approximately $1.29m (before costs), the Company engaged Massa Geoservices to design a drilling program on the Blaffo Guetto Prospect aimed at estimating a maiden resource for the Project. In conducting a detailed review of the Company’s database in order to design the drilling program, Massa Geoservices determined that there had been sufficient prior drilling completed to estimate a maiden inferred resource.

The Company is pleased to advise that the Blaffo Guetto Prospect hosts a maiden inferred resource of 452koz of gold at 2.9 g/t (1.0 g/t Au cut-off).

The maiden inferred resource is an initial resource on the Didievi Project. African is commencing a 2,030m diamond drilling campaign on the Blaffo Guetto prospect in August 2024. The program is designed to infill areas not previously drilled on the Project and to increase the resources to achieve a result within the upper range of the previously announced Didievi Project Exploration Target which includes the Blaffo Guetto and Pranoi prospects.

Notably, the area included within the resource envelope is only at the Blaffo Guetto Prospect on the Didievi Project (see Figure 1). The resource envelope is shallow, 250m – 300m maximum depth, and is regarded as potentially suitable for a future open pit mining operation. The Didievi Project has numerous other high prospects including the Kouassi Prospect, which includes previously released intercepts of 13m at 4.03 g/t Au and 3m at 3.53 g/t Au, and the 11km long Poku Trend which includes a high grade 900m long zone grading 0.15 ppm+ gold.


Click here for the full ASX Release

This article includes content from African Gold Ltd., licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

The Conversation (0)
Stacks of coins with upward arrows symbolizing financial growth.

John Ciampaglia: Gold's "Extreme" Run — Price Drivers and What's Next

John Ciampaglia, CEO of Sprott Asset Management, shares his outlook for the gold price.

"To us, gold could continue to rally here. It's going to be volatile — we see all these days of plus US$100, down US$100. So you have to be kind of careful you don't get overly whipsawed around," he said.

Keep reading...Show less
Red world map with declining financial graph lines and bar charts.

Are We in a Recession? Predictions, Signs and Strategies

"Never miss out on an opportunity like a recession" — Jack Welch, former chairman and CEO of General Electric.

US President Donald Trump’s plans to overhaul the current global trade structure through sweeping tariffs have once again ignited recession fears. With both businesses and consumers considering pulling back on spending if costs rise, many economists are forecasting a higher risk of a deep economic downturn.

Goldman Sachs' (NYSE:GS) seesaw recession predictions on April 9 are a clear indication that much remains unclear when it comes to the possible implications for the US economy. That day, the firm forecasted a GDP loss of 1 percent in 2025 and a 65 percent probability of a recession in the next 12 months.

However, within an hour, Trump announced a 90 day pause on his reciprocal tariffs and the group returned to its previous non-recession baseline forecast, with GDP growth of 0.5 percent and a 45 percent probability of recession.

Goldman Sachs isn't alone in its reluctance to say a recession is in the cards. During an April 14 Fox Business interview, Bank of America (NYSE:BAC) CEO Brian Moynihan said his firm does not expect to see a recession in 2025, although he acknowledged that BoA did lower its GDP forecast for the year and that continued uncertainty around tariffs could change its outlook.

However, others believe the country has already entered a recession.

“I think we’re very close, if not in, a recession now,” Blackrock (NYSE:BLK) CEO Larry Fink told CNBC during an April 11 interview. “I think you’re going to see, across the board, just a slowdown until there’s more certainty. And we now have a 90-day pause on the reciprocal tariffs — that means longer, more elevated uncertainty.”

So — are we in a recession? Even though nailing down an answer is tricky, investors educate themselves on what a recession is, how long they last and what strategies may work well during these difficult economic periods.

Keep reading...Show less

Barrick Gold Corporation Plans to Change Name to BARRICK MINING CORPORATION

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) ("Barrick" or the "Company") today announced that it plans to change its name to Barrick Mining Corporation and from « Société aurifère Barrick » to « Société minière Barrick » in French, subject to shareholder approval at its upcoming Annual and Special Meeting of Shareholders on May 6, 2025.

In connection with its name change, the Company also plans to change its ticker symbol for the Barrick common shares listed on the New York Stock Exchange from ‘GOLD' to ‘B ', to become effective at the start of trading on May 9, 2025. The Barrick common shares will continue to trade under the ‘ABX' ticker symbol on the Toronto Stock Exchange. The new CUSIP number for the Barrick common shares effective at the start of trading on May 9, 2025 will be 06849F108.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×