Santa Fe Minerals (ASX:SFM) Updates Investors On Identified Three Gold-In-Stream-Sediment Anomalies At Its Dialakoro Permit In Cote D'Ivoire

Aditi Sarkar

29 October 2026 03:07 PM AEDT

Santa Fe Minerals (ASX:SFM) Updates Investors On Identified Three Gold-In-Stream-Sediment Anomalies At Its Dialakoro Permit In Cote D'Ivoire

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Highlights

The Mankono Project lies in the Banfora-Daloa greenstone belt and covers part of a regional shear zone.
At the southern anomaly, air-core hole MKAC0080 returned 12 metres at 0.67 g/t gold, among other intervals.
Santa Fe, through its wholly owned Mauritian subsidiary Glomin Services, owns 80 per cent of Rampage and funds all exploration.
A formal joint venture agreement is yet to be negotiated, which the company says will occur in the near term.

Santa Fe Minerals (ASX:SFM) has reported first-pass stream sediment results from the Dialakoro permit, part of its Mankono Project in Cote d'Ivoire. The business states the sampling points to broad gold mineralisation, identifying three anomalous areas with a maximum reading of 18.1 parts per billion gold. These are early-stage geochemical results, and no drilling was carried out in this program.

What Was Sampled

Santa Fe collected 81 stream sediment samples during the September 2026 quarter, at a density of roughly one sample per 4.5 square kilometres. The samples were dried and sieved to extract the fine silt and clay fraction, then analysed using a bulk leach extractable gold method designed to detect very low gold concentrations. Material was also sent for a 19-element multi-element analysis.

The three anomalous areas range from 5 to 18.1 parts per billion gold. The business states the permit had not been explored previously. Sample locations and results are plotted in a figure within the announcement, but no table of individual assays is provided in the text.

Where Dialakoro Sits

The Mankono Project lies in the Banfora-Daloa greenstone belt and covers part of a regional shear zone. Santa Fe notes that it is along strike from the Abujar gold project, which it attributes to Tietto Minerals with 3.83 million ounces of gold. Proximity to another company's project does not indicate that similar mineralisation exists at Mankono.

Dialakoro lies immediately south of the Mankono Ouest permit, where earlier work identified two large gold-in-soil anomalies, one about 10 by 4 kilometres and one about 9 by 4 kilometres. Previously reported results from that permit, released by WIA Gold between 2021 and 2024, include shallow drill intercepts such as 8 metres at 5.11 g/t gold from 12 metres and 2 metres at 36 g/t gold from 75 metres in the northern anomaly. At the southern anomaly, air-core hole MKAC0080 returned 12 metres at 0.67 g/t gold, among other intervals. These are historical results from a different permit and are not results from Dialakoro. Santa Fe says auger geochemistry has outlined three drilling targets at the southern anomaly, but follow-up drilling has not been completed.

Ownership And Funding

Dialakoro is held under exploration permit PR0927 by Rampage Exploration SARL. Santa Fe, through its wholly owned Mauritian subsidiary Glomin Services, owns 80 per cent of Rampage and funds all exploration. A formal joint venture agreement is yet to be negotiated, which the company says will occur in the near term. Until it is signed, the commercial terms between the parties remain unconfirmed.

Limits Of The Data

The announcement states that these are exploration results only, and no Mineral Resource or Ore Reserve is stated. The geometry of any mineralisation is unknown, so reported intercept lengths are down-hole rather than true widths. Samples were located by hand-held GPS, and the disclosure does not describe quality control measures such as standards, blanks or duplicates. The company regards the sampling density as appropriate for first-pass work.

The results were compiled by Mr Reginald Beaton, a Santa Fe employee and member of the Australian Institute of Geoscientists, under the 2012 JORC Code. The announcement also carries the usual forward-looking statement warnings that actual outcomes may differ materially.

Next Steps

Santa Fe plans termite mound and grid-based soil sampling over the anomalous areas. The stated aim is to define targets for shallow auger and air-core drilling. The business states further results will be reported as they become available, but gives no timetable for the sampling or any drilling.

For now, the update shows low-level gold responses across a previously unexplored permit rather than any defined mineralised zone.

FAQs

Q: What is the principal development covered in this update?

A: Santa Fe Minerals has reported first-pass stream sediment results from the Dialakoro permit, part of its Mankono Project in Cote d'Ivoire. The business states the sampling points to broad gold mineralisation, identifying three anomalous areas with a maximum reading of 18.1 parts per billion gold. These are early-stage geochemical results, and no drilling was carried out in this program.

Q: What should readers watch next?

A: Santa Fe plans termite mound and grid-based soil sampling over the anomalous areas.

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