African Gold Limited’s Blaffo Guetto Resource Surges 119% to 989,000 Ounces at <US$5/oz—Fully Funded A$12M Drive Unlocks Multi-Million-Ounce Gold System Potential

Monday, June 23, 2025
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9:48 am
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African Gold Limited reports a 119% resource increase, now estimating 989,000 oz of gold at 2.5g/t. Achieved at below US$5/oz, the shallow, high-grade deposit remains open. With A$12m in cash, the company will accelerate drilling to expand the resource further and unlock significant production upside.

African Gold Limited has significantly upgraded its resource estimate for the Blaffo Guetto deposit within its Didievi Project in Cote d’Ivoire. The new estimate stands at approximately 989,000 ounces of gold contained within 12.4 million tonnes at an average grade of 2.5 grams per tonne using a 0.8 g/t cut-off. When lower cut-off thresholds are applied, the resource scales beyond 1 million ounces, underscoring both the robust nature and the potential flexibility of the deposit. The high-grade, near-surface mineralisation remains open in all directions—with drilling having only reached about 300 meters depth—suggesting significant further exploration upside. The estimation is underpinned by a comprehensive drill database of 237 holes totaling nearly 30,000 meters, along with extensive cross-section mapping, 3D wireframe modelling, and rigorous quality control procedures. African Gold Limited has employed state-of-the-art techniques in both diamond core and reverse circulation drilling, detailed sample compositing, and advanced geostatistical analysis to ensure the reliability of the resource estimate. The process included careful top-cutting to mitigate the effect of anomalously high-grade intervals and thorough QAQC measures, which have consistently met industry standards. From a strategic perspective, the company is well positioned to advance the project further with A$12 million in cash on hand. The robust resources, attained at a discovery cost of less than US$5 per ounce, serve as a strong foundation to potentially evolve into a multi-million-ounce gold system. Future drilling campaigns are scheduled to expand the footprint of the deposit and target additional regional mineralised trends, and the deposit’s proximity to existing processing infrastructure increases the project’s development potential. The news conveys a bullish sentiment as the significant upgrade, low exploration cost and near-surface high-grade mineralisation suggest that African Gold Limited is on the path to unlocking substantial value. Supporters may view the strong technical data and fully funded drilling program as indicators of potential future production and share price appreciation. Conversely, a bearish perspective might highlight that the resource remains classified as Inferred, reflecting current uncertainties due to wider drill spacing at depth, and that further infill drilling is needed to confirm and upgrade the resource. Overall, the announcement is likely to spark optimism among investors, albeit with an understanding of the inherent risks associated with early-stage resource projects.

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