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Highlights

  • Inferred resource at Blaffo Guetto climbs to 989,000 ounces at 2.5g/t Au, with expansion potential

  • Mineralisation remains open in all directions; resource growth achieved at <US$5/oz discovery cost

  • A$12 million cash reserves to fund accelerated drilling and broader Didievi Project exploration

African Gold Ltd (ASX:A1G) saw its share price rise 9.38% to 17.5 cents on Monday after the company reported a significant increase in the inferred mineral resource at its flagship Blaffo Guetto prospect, part of the Didievi Project in Côte d’Ivoire. The resource now stands at 989,000 ounces of gold within 12.4 million tonnes at 2.5 grams per tonne (g/t) gold, reflecting a 119% increase from the previous estimate.

Flexible Resource Base with Multi-Cut-Off Upside

African Gold’s upgraded Mineral Resource Estimate (MRE) demonstrates flexible ore body. Depending on the cut-off grade, the resource can exceed 1 million ounces, offering scalability for future development.

Cut-off (g/t) Tonnage (Mt) Grade (g/t Au) Contained Gold (oz)
0.3 20.4 1.70 1,127,000
0.5 16.9 2.00 1,081,000
0.8 12.4 2.50 989,000
1.1 9.3 3.00 897,000
1.5 6.9 3.60 796,000

The MRE was delivered at a discovery cost of less than US$5 per ounce, which includes all exploration and corporate expenses — a noteworthy achievement in the global gold sector.

Open Mineralisation and Fully Funded Growth Strategy

The current Blaffo Guetto resource has been defined to a depth of only ~300 metres, yet mineralisation remains open along its 1.8-kilometre strike and at depth, signalling significant upside through ongoing exploration.

With A$12 million in cash and equivalents, African Gold is fully funded to accelerate drilling efforts. The company’s July campaign will pursue two priorities:

  1. Expand and further define the Blaffo Guetto footprint

  2. Advance classification and testing at regional targets including Pranoi and the Poku Trend

Early drilling at Pranoi has already confirmed over 600 metres of continuous mineralisation, with indications of a 1.5 km potential strike. The Poku Trend also offers untapped opportunity, with just a fraction of a 9 km soil anomaly tested, yet delivering promising results.

Long-Term Vision: Multi-Million-Ounce Potential at Didievi

CEO and Managing Director of African Gold highlighted the strategic implications of the updated resource:

“Blaffo Guetto is shaping into a robust and scalable gold system. Coupled with the wider Didievi Project discoveries, we believe we are building the foundations of a multi-million-ounce district-scale opportunity.”

The collaboration with Montage Gold further enhances the company’s pathway toward development and value creation, with a focus on transforming Didievi into a standalone operation of significant scale.