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.
Agboville Project, Cote d’Ivoire
The project (1,400km2) is located in the south east of the West African Craton, in an area referred to as the South-Comoé domain, part of what is referred to as the Birimian (Paleoproterozoic rocks of West Africa). This property is well located and considered to be very prospective for gold. It is also considered to have
potential for nickel, cobalt, copper, lithium, tantalum, niobium and beryllium.
During the second quarter 2019 a 6,000 metre, 174 hole Air Core drilling program was completed. The program was designed to provide a first pass assessment of the northern 10km of a robust +30 kilometre northeast trending gold-in-soil anomaly known as the Tyche Prospect.
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. Results are viewed as extremely encouraging, confirming a bedrock source to anomalism and potential for a large gold system. Drill intercepts illustrate both width and grade potential across the entire 10km of the anomaly drilled so far.
- 9m @ 1.24g/t Au (incl. 1m @ 4.0g/t) from surface
6m @ 1.12g/t Au from surface (within a 20m @ 0.44g/t Au from 0m)
6m @ 1.42g/t Au from 8m
5m @ 1.02g/t Au from 34m
4m @ 1.34g/t Au from 8m
A trench excavated approximately 5km to the south of the last drill traverse (mineralized) are considered encouraging and confirm the discovery of a large gold system. Assay results from trench 2 include:
82 m @ 0.21g/t Au (includes some internal dilution) - Incl. 44m @ 0.28 g/t Au, which incl. 6 m @ 1.15g/t Au and 2 m @ 1.80 g/t Au
Work to date has identified 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. 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.
Figure: A1G Project/Permit on simplified geology and only the most significant gold deposits
Figure: Agboville Gold - In - Soil Tyche Anomaly (deconstructed to 1.2km X 100m) on Simplified Geology showing Drill Locations.
Figure: Agboville Gold - In - Soil Tyche
Anomaly on Simplified Geology showing Drill Locations.
Figure: Aircore drilling, significant intercepts and intervals together with imaged gold-in-soil anomaly and interpreted high grade trends. Drilled portion of the Tyche gold-in-soil anomaly northern 10km only.
Figure: Tyche Gold Anomaly – Aircore drilling section #4. Simplified geological section showing assay results and presence of quartz veining and alteration (note alteration is difficult to identify in the weathered zone).
Agboville Project, Cote d’Ivoire
AFRICAN GOLD LIMITED