Forum Topics TCG It's Getting Better and Better
ciocan76
Added 3 months ago

From today's news:

1. Turaco Gold Limited announced new drilling results from the Woulo Woulo deposit at the Afema Project in southeast Côte d'Ivoire.

2. Highlights from extension drilling include:

- 186m @ 1.65g/t gold from 263m (Hole 24WOUDD0198)

- 84m @ 1.73g/t gold from 280m (Hole 24WOUDD0193)

- 47m @ 1.06g/t gold from 155m (Hole 24WOUDD0185)

3. These results are not included in the recently announced maiden JORC Mineral Resource Estimate (MRE) of 2.52Moz gold for the Afema Project.

4. The new results demonstrate significant growth potential for the MRE, with higher grades at depth.

5. Woulo Woulo's current MRE is 1.25Moz gold (42.6Mt at 0.9g/t gold) at a 0.5g/t cut-off.

6. Metallurgical characteristics of Woulo Woulo are excellent, with 90-94% gold extraction from conventional cyanide leaching.

7. Drilling has commenced on recently granted exploration permits, with additional RC rigs expected to mobilize soon.

8. The Woulo Woulo deposit is located on a north-northeast trending splay off the main 'Afema Shear' and is characterized as a Paleoproterozoic mesothermal gold deposit within mineralized shear zones.

9. Further drilling is planned to improve confidence and extend the JORC Mineral Resource Estimate for the Woulo Woulo deposit.

10. The document includes detailed information on sampling techniques, data collection, and JORC Code reporting guidelines.

This announcement suggests significant potential for expanding the gold resource at the Woulo Woulo deposit, with high-grade intersections at depth not previously included in the resource estimate.

Currently, in premarket, price is +3.9%

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Bear77
Added 3 months ago

I have not looked at Taraco Gold (TCG) or their Woulo Woulo deposit in Côte d'Ivoire @ciocan76 however I would be concerned if their best drilling results are all under 2 grams per tonne, as indicated by those extension drill hole assays. However, on the positive side, their chart looks awesome!, and while the project is in West Africa, the best of our larger West African gold producers - Perseus Mining (PRU) - who I hold - have two producing gold mines already in that country (Côte d'Ivoire, once known by some as the Ivory Coast) and have an excellent relationship with the government there, so Taraco Gold could become an M&A target for Perseus at some point, IF they find enough gold. The metres over which that gold is being found (in these particular results) is certainly positive and encouraging, suggesting there's a lot of gold there, but just not high grade gold. Not low grade either (like under 1 gram/tonne), but between 1 and 1.75 grams/tonne is in the middle, just above low grade but not what you'd call high grade) - but I haven't looked at their previous announcements so I don't know what they've found there previously. The market is certainly suggesting that they've got something worth owning!

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