This article highlights the transformation of Cote d’Ivoire into a leading destination for gold exploration, driven by favorable government policies and significant geological potential. John Forwood of Lowell Resources Fund discusses the attractiveness of this jurisdiction amidst rising gold prices and the emerging successes of various exploration companies.
This article focuses on Cote d’Ivoire, a rapidly emerging gold exploration location highlighted by John Forwood, Chief Investment Officer of Lowell Resources Fund. As gold prices approach the US$3000 per ounce mark, there is increasing interest in securing investments in stable jurisdictions. West African gold producers typically face a market disadvantage known as the ‘African discount’, despite their strong performance.
Cote d’Ivoire, once seen as a mining pariah state until its civil war in 2011, has transformed into a prime target for gold explorers. According to Forwood, it is currently among the most sought-after territories for investment. He stated, “Cote d’Ivoire seems to be the absolute flavour of the month, if you’re not in the WA Goldfields then Cote d’Ivoire is a pretty good second prize.”
The government of Cote d’Ivoire is notably becoming more amiable towards granting exploration permits, particularly in previously restricted forested areas. This shift in policy allows dormant applications in key geological regions to advance, increasing the likelihood of discovering new high-grade projects. Forwood remarked, “Companies which have sort of been sitting on dormant applications in these highly prospective Birimian greenstone areas… are getting granted.”
Recent geological highlights from Cote d’Ivoire include Many Peaks Minerals’ promising drill results at the Ferké gold project, which showcased 45 meters of 8.58g/t gold. Forwood noted other successful prospects, such as Ouarigue, demonstrating considerable surface intercepts. He emphasized the potential for continued high-grade exploration, especially for companies like Turaco Gold, which is expected to augment its resource base significantly.
Forwood also identifies Aurum Resources and its strategic expansion through the acquisition of Mako Gold as key players in the market. He commended Chairman Caigen Wang’s approach to cost-effective drilling strategies using Chinese resources. This tactic enables rapid resource confirmation and expansion at significantly lower costs.
In addition to Aurum, Forwood expressed optimism about Many Peaks, citing their substantial grades and the potential for extensive mineralization at Ferké. He pointed out the impressive credentials of the founding team at Famien Resources, which shows promise as an emerging player in the region. Roberts, known for leading significant discoveries, could ensure strong prospects in Cote d’Ivoire.
In summary, Cote d’Ivoire has evolved into a premier destination for gold exploration, attracting significant interest from investors and junior exploration companies. Economic improvements and favorable geological conditions position the country as an appealing alternative to traditional mining jurisdictions. The proactive government stance on exploration permits enhances the potential for high-grade discoveries, fostering a vibrant investment climate in the region.
Original Source: stockhead.com.au
