• The company exercised its option to acquire 80% of Kouroufaba Gold.
• The move strengthens its control over the Didievi gold project.
• African Gold plans to accelerate exploration at Didievi and Konahiri.

African Gold announced on November 11 that it has exercised its option to acquire an 80% stake in Kouroufaba Gold in Côte d’Ivoire, under a 2021 agreement. The move marks a major step for the company as it consolidates its position in the Didievi gold project, which it is currently developing in the country.

Kouroufaba Gold fully owns Geo Resources SARL, an Ivorian company that holds the Didievi exploration permit and other targets, including Konahiri. Under the 2021 deal, African Gold was required to invest $5 million in exploration over five years to earn its 80% interest in Kouroufaba Gold.

The company confirmed it has now “met all the conditions,” giving it a majority stake in Kouroufaba Gold and strengthening its control over the associated assets, particularly Didievi, which currently hosts 989,000 ounces of inferred mineral resources. African Gold also has the option to acquire the remaining 20%, although it has not yet indicated plans to do so.

“Following this progress, African Gold will continue to focus on enhancing its Ivorian resources through ongoing exploration, resource expansion, and the advancement of the Didievi project, while fast-tracking the first diamond drilling campaign at Konahiri,” the company said in its statement.

A new 40,000-meter drilling campaign began in July at Didievi, with the goal of turning it into a multi-million-ounce gold project. At the same time, African Gold confirmed plans to extend exploration at Konahiri, with a 5,000-meter drilling program scheduled for November.

While awaiting results, the company’s Ivorian portfolio has already drawn interest from Montage Gold, a larger Canadian mining firm that became a shareholder in March.