• Drilling targets include Dish Mountain, Ashashire, Tsenge, and Urchin zones

• $500M mine set for mid-2026 launch, aims for 240,000 oz/year over 10 years
  

Allied Gold Corp plans to accelerate gold exploration work at its Kurmuk project in Ethiopia in 2026, the Canadian miner said in an activity update on Thursday. This follows the completion of 193 drill holes totaling 39,000 meters from mid-2024 to the end of 2025.

According to the details provided, the drilling so far has focused on Ashashire and Dish Mountain, the two main deposits at Kurmuk. Allied has also worked on other targets, including Tsenge, Dul, and Urchin. In 2026, the company plans to continue extending resources at Dish Mountain and Ashashire, while conducting reconnaissance drilling at Tsenge in the first half of the year. A new program is also planned for Urchin and other site targets.

Already under construction at an estimated cost of $500 million, Kurmuk is scheduled for commissioning by mid-2026. The project is expected to deliver an average of 240,000 ounces of gold per year for 10 years. With the ongoing exploration work, Allied aims to increase current reserves to extend the mine's life to at least 15 years while maintaining the planned production levels.

Allied has not yet detailed the exploration budget planned for 2026. However, the company announced in October its intention to raise C$175 million (about $124 million) to fund ongoing work at Kurmuk and the Sadiola mine in Mali. Besides these two assets, the company also remains present in Côte d’Ivoire, where it operates the Agbaou and Bonikro gold mines.

Aurel Sèdjro Houenou