Turaco Gold expands exploration in Cote d'Ivoire

Turaco Gold (ASX:TCG) has entered into an agreement to acquire a 100% exploration permit adjacent to its Afema Project in Cote d'Ivoire. This expansion increases the project's area by 30%, totaling over 1,600 square kilometers. The new area is located on the mineral-rich Sefwi greenstone belt.

Strategic expansion and exploration outlook

Turaco Gold has secured an exclusivity and option agreement to expand its Afema Project by acquiring a 366 square kilometer exploration permit in Cote d'Ivoire. This addition increases the project's total area to over 1,600 square kilometers. The agreement involves an upfront payment in shares and an option to fully acquire the permit within 12 months. Turaco plans to conduct geochemical sampling and exploration to assess the area's potential, with the option to purchase the permit for $100,000. The company aims to strengthen its position in the Sefwi greenstone belt, known for its rich mineralisation, and further explore the underexplored region. Turaco's existing Afema Project includes a JORC Mineral Resource Estimate of 2.52Moz gold. The strategic move positions the company for growth in its exploration activities in West Africa.

Executive commentary on strategic expansion

Managing Director Justin Tremain emphasizes the strategic expansion at a low cost, enhancing control over the mineral-rich Sefwi Belt.