• Turaco raises Afema gold resource to 4.65Moz from 4.06Moz

• Update adds Herman deposit, expands existing site resources

• Upgrade supports feasibility study and potential mine development plans

Australian miner Turaco Gold has increased the mineral resource estimate at its Afema gold project in Côte d'Ivoire to 4.65 million ounces, up from 4.06 million ounces previously.

The updated estimate includes the Herman deposit, added to the mine plan for the first time, as well as additional resources identified at the existing Woulo Woulo, Anuiri and Asupiri deposits. The company said the upgrade supports its strategy to demonstrate the project's economic viability ahead of potential mine development.

"Turaco has delivered a 4.65Moz JORC resource in less than two years since acquiring Afema, highlighting strong drilling results across multiple targets," Chief Executive Justin Tremain said. "Our immediate focus is to demonstrate Afema’s production scale and development economics through the PFS, targeted for completion in 2Q CY2026, while continuing to expand the resource base."

The updated resource estimate will support a pre-feasibility study (PFS), which will provide the first economic indicators for Afema, including its production profile and development costs. The company also aims to convert part of the resources into reserves, a category considered more reliable for mine planning.

Exploration is expected to continue at the site, with another resource update planned before the end of 2026. Turaco Gold could use this momentum to advance Afema toward the final stages before development, including a definitive feasibility study (DFS), securing mining permits and arranging construction financing.

Aurel Sèdjro Houenou