In March 2015 Toro Gold entered in to a joint venture agreement with Predictive Discovery Limited (“PDI”) whereby it has the right to earn in to the equity of PDCI, its wholly owned Côte d’Ivoire Joint Venture Company and holder of a portfolio of greenfield exploration permits. After 3 years of field work, Toro Gold currently owns 65% in PDCI with PDI owning the remaining 35%. Both PDI and Toro Gold contribute to further funding on a pro-rata basis while Toro Gold remains the manager of the work programmes.
At this time PDCI holds three large exploration permits directly and has an interest in a further four permits indirectly, as follows:
A further two permits are currently under application.
The Boundiali permit is located in northern Côte d’Ivoire on the intersection of two gold mineralised trends – the Syama and the Tongon trends. Reconnaissance and detailed follow up scale sampling across the entire permit resulted in the discovery of three drill targets as follows:
After initial drill testing in 2016/17, the Nyangboue target is considered the most prospective at this time:
Geological data collected from RC and core drilling, and a pole-dipole Induced polarisation and ground magnetic survey has provided a good understanding of the gold mineralised zone at Nyangboue Central:
Results from RC and Core drilling include:
An airborne Geophysics survey completed in late 2017 indicated that the Nyangboue prospect is located on the eastern limb of a regional fold
Follow up work will focus on an in-fill drill campaign to further test the mineralisation at Nyangboue.
Positioned adjacent and contiguous to the north of the Boundiali Permit, the Boundiali North Permit is a Joint Venture with local company DS Resources and covers a further 20km of strike along the N-S oriented Syama Trend.
Work began on this greenfields permit during 2018 and soil sampling has been completed across the entire permit.
The Ferkessedougou North Permit is located along a well mineralised structure in northeast Côte d’Ivoire, on the Burkina Faso border.
A combination of soil sampling and mapping delineated an 18km long zone of gold-in-soil anomalies. Named the Leraba Trend, it varies in width from 1km in the south to 3km in the north and is a complex zone of soil anomalies related to a series of parallel to sub-parallel quartz reefs within shears hosted by a package of metasedimentary rocks and granodiorite intrusives.
The Leraba Trend appears to form a NNE trending splay between two large scale N-S trending bounding structures which are both coincident with linear total count radiometric anomalies, the western zone is caused by an extensive zone of granitoids and granitoid pegmatites.
Soil anomalies are also associated with numerous areas of artisanal mining.
The Ferkessedougou permit is located some 60km South of the Ferkessedougou North permit and lies on the same regional belt of Birimian rocks.
Soil sampling delineated the 3.5 km long Lomi soil trend which is located on the west bounding structure of the Leraba Trend some 50-60 km to the south.
The Kokoumbo permit is located in central Côte d’Ivoire, some 40-50km NNE of Newcrest’s Bonikro gold mine and Endeavour’s Agbaou gold mine within the Oume-Fetekro greenstone belt.
Soil sampling by Toro has confirmed the widespread occurrence of gold in soils at Kokoumbo, across the central part of the permit. Soil anomalies that are coincident with active artisanal mining activities and former Colonial period gold mining at Kokoumbo Hill occur on the southwest flank of Kokoumbo Hill. The character of regolith at Kokoumbo and Beriaboukro is more complex compared with northern Cote d’Ivoire and thicker vegetation cover and relief as well as extensive areas of agriculture make the two Fetekro permits a more difficult environment in which to explore.
Core drilling at Kokoumbo Hill carried out under an extensive zone of artisanal workings revealed a mafic volcanic pile with narrow zones of quartz-carbonate veining with pyrite and pyrrhotite, in veins as well as disseminated sulphide mineralisation within the mafic volcanics. Gold mineralisation was confined to quartz veins near to surface in saprolite.
The Beriaboukro permit is contiguous with and south of the Kokoumbo permit within the same Oume-Fetekro Greenstone Belt.
Two areas of soil anomalies were identified and will require follow up exploration work which will include drill testing.