Enegex Kicks Off RC Drilling at Gogo, Reports Promising Gold Intercepts at Tougbe

Enegex (ASX: ENX) has launched a substantial reverse circulation (RC) drill program at its Gogo Project in Côte d’Ivoire.

The program targets the Bonoubana trend, aiming for 3,000-3,500m of drilling.

This initiative will test three key prospects along the 5km trend, including the down-dip extension of high-grade artisanal workings at NE Bonoubana, an area beneath a 900m power auger gold anomaly, and a broad zone of quartz-veined sheared felsic volcanics at S Bonoubana.

The company expects to receive results from the Gogo RC program next month.

Following this, deeper RC drilling is planned for the Tougbe Permit.

Tougbe AC Drilling Delivers Gold

Concurrently, Enegex has reported encouraging gold intercepts from a 19-hole, 660m aircore (AC) drilling program at the Tougbe Permit's AW1 prospect.

Key high-grade results include 4m at 6.2g/t Au from 8m in hole TOWAC0115 and 12m at 1.68g/t Au from 28m, which contained a higher-grade section of 4m at 3.93g/t Au in hole TOWAC0116.

Additional AC drilling at the Kalama Bave prospect, totalling 441m, also yielded improved intercepts, such as 4m at 6.10g/t Au from 32m in hole TOWAC0106.

While these results confirm mineralised zones and warrant deeper RC follow-up, the exact orientation of the mineralisation at AW1 remains unclear at this stage.

Permit Extension Bolsters West African Focus

Enegex's exploration efforts in West Africa are further supported by a significant regulatory update.

The Tougbe Exploration Permit (PR874) has been extended until 24 November 2027.

This extension provides long-term tenure, reducing regulatory risk and allowing for continued, systematic drilling and evaluation of promising prospects such as AW1 and Kalama Bave.

These activities are underpinned by a successful $10.2 million placement completed in February 2026, priced at $0.23/share, significantly boosting the company's cash reserves.

After costs, Enegex's cash balance increased to approximately $14.3 million.

These funds are strategically allocated to fast-track exploration across the Tougbe-Gogo permit group, facilitating simultaneous work programs and planned RC drilling initiatives.

Balanced Outlook for Exploration Momentum

Enegex is demonstrating strong exploration momentum with the commencement of RC drilling at Gogo and positive AC results at Tougbe.

The company's funding position is robust following a recent placement.

However, uncertainty regarding mineralisation orientation at AW1 and the inherent risks of greenfields exploration remain key considerations.