- Tanga Resources (TRL) has outlined some important drilling targets at its new Bouaflé Project in Côte d’Ivoire after a major review of historical mining data
- The data was taken from years of historical exploration work at the project — much of which had never been revealed before
- This work includes 18,300 soil samples from almost 1200 drilling holes which, altogether, were drilled for over 80,000 metres
- A large portion of the work was done by mining giant Newcrest Mining (NCM), who owned the project through its subsidiary, Equigol, for years
- After reviewing the historical data, Tanga says it believes mineralisation is open and untested along strike and down dip at the project, and several drill-ready targets are waiting to be tested
- Nevertheless, shares in Tanga Resources are trading over 7 per cent lower this morning, currently worth 5 cents each
Tanga Resources (TRL) has outlined some important drilling targets at its new Bouaflé Project in Côte d’Ivoire after a major review of historical mining data.
The company told investors this morning it has reviewed around 18,300 soil samples from almost 1200 drilling holes which, altogether, were drilled for over 80,000 metres.
Much of this drilling data, which was initially collected by a string of Bouaflé’s previous owners, has never been released before.
The data includes historical drill intercepts such as a 23-metre hit grading an average 2.5 grams per tonne of gold from 92 metres, a nine-metre hit at 4.3 grams per tonne of gold from 132 metres, and a 12-metre hit at 5.6 grams per tonne of gold from 48 metres.
Tanga Chairman Andrew Pardey said many of the intersections have never been adequately followed up — presenting a unique opportunity for Tanga to explore the region.
“We are extremely pleased to be able to release such a significant volume of data on our Bouaflé Project in Côte d’Ivoire, including soil geochemistry, high-resolution airborne geophysics and drilling data,” Andrew said.
“The tenement package remains highly prospective, with previous work having identified a 17- kilometre long gold in soil anomaly, supported by numerous high-grade aircore and RC drill intersections,” he said.
Bouaflé owner history
Tanga said the Bouaflé Project was previously owned by Equigold, a subsidiary of gold mining giant Newcrest Mining (NCM).
Equigold was bought out by Lihir Gold in 2008, and drilling work kicked off at the project in 2009. Newcrest then bought Lihir Gold in 2010.
A mixture of drilling work and geological survey work was done on Bouaflé between 2009 and 2014, and the project has changed hands several times since then.
Tanga set its sights on the project in September 2020 when it struck a share sale and purchase deal with Capital DI for a string of Côte d’Ivoire purchases, among which was Bouaflé.
Other projects in the area bought out by Tanga include the Issia and Bocanda project and the Mankono project.
Following the review of the project’s historical data, Tanga said it believes mineralisation is open and untested along strike and down-dip at the project, and several drill-ready targets are waiting to be tested.
Nevertheless, shares in the company are trading 7.41 per cent lower this morning, worth 5 cents each at 11:12 am AEDT. Tanga Resources has an $8.55 million market cap.