What Famien Resources' (ASX:FMN) Maiden RC Drill Results Reveal About Its Côte d'Ivoire Gold Strategy

Sonal Goyal

03 November 2026 11:57 PM AEDT

What Famien Resources' (ASX:FMN) Maiden RC Drill Results Reveal About Its Côte d'Ivoire Gold Strategy

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Key Highlights

Maiden 3,672m RC drill program across the 5km Bonougbara Trend returned gold mineralisation in nearly all holes, with standout results including 3m at 5.61g/t Au from 44m and 2m at 4.43g/t Au from 71m at the Southern Target
Northern Target delivered multiple intercepts including 8m at 1.27g/t Au from 52m and 4m at 2.44g/t Au from 54m, with sulphide-bearing gold lodes historically mined via deep shafts for at least 15 years
Net ground position expanded by approximately 1,226km² in the September quarter through grant of the Korhogo and M'Bahiakro permits and Acquisition of three applications in the Ferkessedougou area
Post-quarter, the Company announced the sale of its West Yilgarn property package, sharpening focus on West African assets

Famien Resources Limited (ASX:FMN) emerged from the September 2026 quarter having completed its maiden Reverse Circulation Drilling program at the Gogo permit in Côte d'Ivoire, delivering gold intersections across all three tested targets within the 5-kilometre Bonougbara Trend. The program totalled 3,672 metres and marked the company's first systematic drill test of targets that had previously been identified through soil geochemistry and artisanal Mining activity.

The Bonougbara Trend encompasses three distinct exploration targets — Southern, Central and Northern — each with different geological and historical characteristics. The Southern Target sits beneath prominent artisanal workings; the Central Target was defined beneath gold-anomalous power auger drill holes testing beneath alluvial cover; and the Northern Target was drilled down-dip of several high-grade gold-bearing quartz lodes that have been mined from deep shafts for at least 15 years, suggesting enduring mineralisation in this part of the system.

Results Across Three Targets Support Follow-Up

At the Southern Target, drill hole GOERC0002 returned 3m at 5.61g/t gold from 44 metres, with a second interval of 5m at 1.44g/t gold from 73 metres in the same hole. GOERC0001 returned 2m at 4.43g/t gold from 71 metres, while GOERC0005 intersected 6m at 2.68g/t gold from 33 metres. GOERC0003 returned a broader zone of 23m at 0.64g/t gold from 37 metres including 2m at 2.34g/t gold.

The Northern Target, historically the most actively mined area within the trend, produced results including 8m at 1.27g/t gold from 52 metres in GOERC0008, 8m at 0.94g/t gold from 94 metres in GOERC0006, and 4m at 2.44g/t gold from 54 metres in GOERC0016. GOERC0010 returned 2m at 3.82g/t gold from 64 metres.

At the Central Target, GOERC0022 intersected 6m at 1.03g/t gold from 74 metres and 4m at 2.11g/t gold from 94 metres, while GOERC0026 returned 4m at 1.66g/t gold from 66 metres. These initial results provide a foundation for follow-up targeting, with a geophysical survey now being planned to identify thicker sulphide-bearing portions of the mineralisation within the trend.

Ground Portfolio Expands Rapidly Across Côte d'Ivoire

Alongside the drill program, Famien significantly expanded its in-country tenure during the quarter. The Korhogo and M'Bahiakro exploration permits were granted, covering 731km², and the company acquired three exploration permit applications in the Ferkessedougou area covering 757km². This was partially offset by the surrender of the lower-priority Abengorou permit covering 262km², resulting in a net addition of approximately 1,226km².

The newly acquired ground falls within the Birimian greenstone belts of West Africa — the same geological setting that hosts many of the continent's most significant gold deposits. Community engagement meetings were held on the Korhogo permit during the quarter in preparation for BLEG stream sediment surveys planned for the December quarter.

Reconnaissance BLEG sampling on the Toumodi permit generated 28km² of prospective catchment areas, with a 100 by 100 metre grid soil sampling program nearing completion at quarter end.

Sector Context

West Africa, and Côte d'Ivoire in particular, has emerged as a growing focus for ASX-listed gold explorers through the mid-2020s. The country's Birimian geology is well understood, with recent discoveries and producing mines demonstrating the scale potential of the region. Famien's Gogo permit lies approximately 20 kilometres along strike from Montage Gold's Blaffo Guetto deposit at the Toumodi permit, adding regional geological context to its exploration targeting.

Risks

Famien operates entirely within Côte d'Ivoire, a Jurisdiction that carries sovereign, political and permitting risk relative to Australian or North American exploration addresses. Drilling progress was slower than expected during the quarter due to rig maintenance issues, a reminder of the logistical challenges associated with remote West African operations. The Bonougbara Trend results, while encouraging, are early-stage and remain well short of a resource definition. Planned follow-up geophysical and drill programs will require continued Capital deployment.

What to Watch Next

The most immediate catalyst for FMN is the planned geophysical survey over the Bonougbara Trend, intended to identify thicker sulphide-bearing zones for follow-up drilling. Results from the second-phase RC program at the Tougbo permit's Kalama Bave prospect, which commenced post-quarter, will also attract attention. The commencement of BLEG sampling on Korhogo and progress toward soil sampling results at Toumodi will provide further near-term news flow.

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