MetalsGrove Mining has significantly expanded its gold exploration footprint in Côte d’Ivoire, securing a 75km contiguous corridor through a new joint venture (JV) with Aucrest Sarl, a subsidiary of Stellar AfricaGold.
This builds on the acquisition of three gold JV permits earlier this year.
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MetalsGrove said that the addition of the PR750-Zuénoula permit increases its total controlled exploration area in the region to 1,315km², consolidating its position along the highly prospective Abujar–Napié gold trend within the Oumé–Fetekro Birimian greenstone belt.
The newly acquired Zuénoula permit, granted on 17 April 2024 and covering 395.78km², sits strategically between MetalsGrove’s existing Kounahiri West and Vavoua permits.
In total, MetalsGrove’s four JV gold permits are located roughly 100km north of the Abujar Gold Mine and 160km south of the Napié gold deposit.
The geological features and structural complexity of these JV project areas are interpreted to be highly conducive to significant gold discoveries.
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By GlobalDataMetalsGrove Mining managing director and CEO Lijun Yang said: “The acquisition of the Zuénoula permit through forming a JV with Stellar AfricaGold marks a significant milestone in the expansion of our West African gold exploration portfolio.
“This strategic addition builds on our recent consolidation of three gold permits in central-west Côte d’Ivoire, increasing our total landholding to 1,315 km² in one of the most prospective yet underexplored gold provinces in the region.
“The location of the Zuénoula permit, adjacent to our existing Kounahiri West and Vavoua permits, creates a contiguous exploration corridor with shared geological characteristics, including favourable lithological sequences, complex structural features and active artisanal workings, all of which are strong indicators of gold mineralisation potential.”
Furthermore, the extensive artisanal mining activity across the district underscores the region’s untapped gold potential, according to the company.
MetalsGrove plans to commence surface sampling activities this month, aiming to define gold corridors, which will be followed by drill testing.
Yang added: “Through this acquisition, we are rapidly moving forward and will commence surface sampling programmes this month, with the objective of identifying gold trends (gold corridors) and significant gold anomalies along these trends. Drill testing of these gold exploration targets will follow soon after. Our approach remains methodical and data-driven, leveraging regional knowledge and partnerships to unlock value efficiently and sustainably.”
In a related development, MetalsGrove has secured $2.7m (A$4.05m) through an oversubscribed placement to finance initial exploration activity at the company’s Central West gold project in Côte d’Ivoire.
The placement was led and managed by Shaw and Partners.
