Exore Resources strikes near-surface gold in Ivory Coast

Exore Resources ASX ERX Antionette Bagoe Project Ivory Coast gold
Exore Resources is now awaiting results from first pass drilling at the Veronique gold-in-soil anomaly in Cote d'Ivoire.

Exore Resources (ASX: ERX) has announced “exceptional” high-grade gold results from its maiden reverse circulation (RC) drilling program on the Antoinette prospect in Cote d’Ivoire.

The Western Australia-based company today released results from an initial 13 holes drilled within the Bagoe project, with further results expected shortly.

Drilling highlights comprised shallow high-grade intersections from Antoinette Central including: 25m at 6.87 grams per tonne gold from a depth of 32m; 11m at 12.79g/t gold from 81m; and 12m at 7.22g/t gold from 62m.

According to Exore, a new parallel zone of bedrock gold mineralisation was also identified at Antoinette West, with five shallow RC holes returning up to 8g/t gold.

In addition, the company reported all zones of mineralisation remained open in all directions.

Exore managing director Justin Tremain said these maiden drill results exceeded the company’s expectations and confirmed Antoinette Central as a “significant, high-grade gold discovery at surface”.

“We are confident that these results are just the beginning as we continue to step out and test mineralisation down dip, along strike and parallel from Antoinette Central,” he said.

Exore is currently operating two drilling rigs on site. Along with continued drilling at Antoinette, it is undertaking first-pass aircore drilling at the 8km-long Veronique high-tenor soil anomaly located further south within the Bagoe project.

The company said drilling at Veronique was “progressing well” with first assay results expected “in the coming weeks”.

Growing footprint

Today’s news follows Exore’s announcement last month that it had expanded its ground position in Cote d’Ivoire by 60% through a farm-in and joint venture with a local Ivorian company on two permit applications.

Under the deal, Exore has the right to earn in to 80% of the additional ground.

One permit application adjoins the company’s existing Bagoe project and the other area is located about 50km to the north-west.

Exore shares rose 11.11% to $0.07 on today’s news by early afternoon trade.

Danica has extensive experience writing and editing business news in the Oceanic and Southeast Asian regions. She has written across a range of industries including oil and gas, mining, energy, science and research, retail and travel. Danica has covered small and large cap companies listed on the Australian, Singapore, Hong Kong, Indian, London and Toronto exchanges.