Today Cote d’Ivoire is among the fastest-growing economies in the world, and one of the most dynamic in West Africa. Côte d’Ivoire introduced a progressive new mining code in 2014, and on-going infrastructure improvements are making the country one of the more investor-friendly countries in Africa. There is a strong desire to diversify the economy with gold and other mineral products. Exporting electricity is playing an increasing role in this diversification.
The country has 5 major producing gold mines and a number of near term development projects including Ity 4.5 Moz and Agbou (Endeavour), Yaoure 3.4 Moz and Sissingue (Perseus), Tongon 2.7 Moz (Barrick) and Bonicro (Newcrest). Other mineral commodities that offer the potential for economic development in Côte d’Ivoire include diamonds, petroleum, natural gas, copper, iron, cobalt, bauxite, tantalum, lithium and silica sand.
The Project is located in the south east of the West African Birimian Craton, in an area referred to as the South-Comoe domain. The project is very well located and considered to be an excellent prospective for gold. It is also considered to have the potential for nickel, cobalt, copper, lithium, tantalum +/- niobium and beryllium.
Rock type and structural architecture are considered conducive to hosting significant gold mineralisation within structural sites associated with rheological contracts. Mapped mineral occurrences on the licences include columbite, tantalite, monazite, copper, nickel, cobalt, manganese and chromite within the tenements.
Formerly owned by Goldenstar Ltd, who defined a robust gold-in-soil anomaly but due to other priorities never followed up with drill testing. The maximum gold assay returning from the soil samples was 4.11 g/t gold (4110 ppb) within a ~ 20km coherent soil anomaly2. Until African Gold’s April – May 2019 program, no previous drill testing has been conducted in the project.
The company views the coincident nature of the mineralization with significant shearing and the nature of the regolith profile, which is highly conducive of surface geochemistry as a high priority drill target for follow up testing. Within the broad soil anomaly, there are distinct higher-grade zones
During Q 1 2019 results of a reconnaissance soil sampling program were announced. Results were considered very significant and resulted in: confirmation of continuity and tenor of the main +20 km long gold-in-soil anomaly, the Tyche Anomaly; the delineation of new parallel high tenor gold-in-soil anomalies to the east & west of the main anomaly; and the confirmation that may of the single point LAG geochemical anomalies are real and can be repeated in soils. Results of this work suggest the main ‘Tyche’ gold anomaly could extend at least a further 10 km to the south-west.
During Q2 2019 a 6,000 m, 174 hole Air Core drilling program was completed. The program was designed to provide a first pass assessment of the robust ~20 km northeast trending gold-in-soil anomaly, of up to 4.1 g/t gold known as the Tyche Prospect.
The drilling program is considered a great success and very encouraging. The work has identified significant mineralisation in a number of holes that suggest a fertile structure capable of hosting economic mineralisation. Width and grades of intercepts are considered encouraging and suggest a large gold system.
The program consisted of approximately 3.5 kilometers discrete heel-to-toe shallow drill traverses and provided useful insights into the project geology and style of mineralisation. Drilling has confirmed the stripped, shallow weathering profile with little to no transported cover. Average hole depth 35 metres and average vertical hole depth 26 metres. Minor transported alluvium in low lying areas and river valleys. Moderate topographic rises, positive topographic relief is associated with abundant quartz rich zones – some associated with mineralisation. In many places there is a ferruginous overprint of the saprolite in the first 10 metres. In most cases (153 of the 174 holes) intersected recognizable weak to unoxidized bottom of hole lithologies – these comprising meta-psammites, meta-pelites and meta-arenites/arkose. Petrology done on selected bottom of hole samples. The area is typically greenschist metamorphic grade.
Drilling and line clearance have uncovered a strain partitioned shear zone over a width of ~1 kilometer with more intense shear zones up to 30 metres wide, generally striking ~060 degrees and moderate to steeply dipping to the south east. In the northern part of anomaly shear zone is located within meta-siltstones and meta-arenites characterized by intense sericite alteration within the shear zone (20-30 metres in places). Petrology indicates dominantly – muscovite, biotite, chlorite with minor magnetite and sulphides (pyrite and chalcopyrite) alteration assemblages. Gold mineralisation is largely but not exclusively associated with quartz veining. For the most part mineralized intercepts are interpreted, from outcrop and drilling, to have a moderate to steep southeasterly dip.
Of the 174 holes, 117 returned anomalous intercepts i.e. 0.06g/t Au and above (5 x detection limit), of those 72 holes contained highly anomalies intercepts >0.10g/t Au and 21 holes contained intercepts of >0.50g/t Au. Holes and significant intercepts are shown in Tables 2 – 4 and Figure 3. Most significant intercept in hole 19AC020 of 9 metres @ 1.24g/t Au from surface (or 12 metres @ 1.02g/t Au from surface – but includes a no sample 9-10 metres) the hole was terminated due to poor ground conditions and recovery problems at 13 metres ending in mineralisation (0.4g/t Au). Best individual grade 1 meter @ 4.01g/t Au.
More significant intercepts from the auger style drilling include:
Due to the large target size the Company intends to build on the geological understanding to prioritize exploration and geophysical techniques to vector in on the most prospective part of the system for follow up drill testing.
During Quarter 3 2019 a follow-up soil sampling program commenced and was approximately 2/3 rd completed before the program was suspended due to difficult access resultant from heavy seasonal rains. The program will recommence when conditions allow.
The program was designed to: further define and evaluate the potential south westerly strike extension of the already +20km long Tyche gold-in-soil anomaly; to follow-up anomalous LAG and wide spaced reconnaissance soil samples returned during previous sampling on “The Nose” geological-structural-magnetic target located to the north west of the main Tyche anomaly, to evaluate base metal potential of the ultramafic bodies; and to provide multielement data that will hopefully assist with geological mapping and interpretation. In addition to this two trenches were excavated, logged and sampled.
No assay results are available. Results will be made available to the market as soon as possible.