Turaco hits more high-grade gold at Afema; 2026 study on track

Key highlights

• New drilling at Adiopan (Afema, Côte d’Ivoire) returned strong results, including 16m @ 5.03g/t Au from 121m and 25m @ 2.48g/t from 72m. 
• The discovery sits next to the Anuiri deposit and links into the Asupiri East trend, with ~3km of undrilled strike to the north. 
• Afema’s current JORC resource is 3.55 Moz across multiple deposits; a resource update is due soon. 
• The Pre-Feasibility Study (PFS) is progressing, targeting 2QCY2026 completion; metallurgical and geotechnical work are well advanced. 
• Turaco holds ~A$80m pro-forma cash (June qtr), providing runway for drilling through the dry season. 
  
   

Turaco Gold (ASX: TCG) reported another round of strong drill hits from Adiopan, a new discovery within the Afema project in Côte d’Ivoire. Five fresh diamond holes (1,095m) delivered several eye-catching intercepts—16m @ 5.03g/t, 25m @ 2.48g/t, 20m @ 1.92g/t, 17m @ 2.04g/t—that reinforce the view that Adiopan is high-grade and growing. 

Why it matters 

• High grades and width together are what miners want. Hits like 16m @ 5.03g/t mean a decent thickness of rock carrying a strong gold grade—useful for future mine plans. 
• The best results are on the northernmost section, and Turaco says there’s about 3km with no drilling yet in that direction. That leaves obvious room to grow. 
• Adiopan is close to Anuiri (520koz) and ties into the productive Asupiri trend. Adding ounces near known deposits can make any future mine simpler and cheaper to build. 
  
   

Where Afema stands today

Afema already holds 3.55 million ounces (JORC 2012) across Woulo Woulo, Jonction, Anuiri and Asupiri. Turaco plans a near-term resource update to capture drilling at several targets (with Adiopan results to follow in the next update window). 

At Asupiri, ongoing drilling keeps showing consistency, with solid intercepts such as 28m @ 1.92g/t (from 53m) and 29m @ 1.44g/t (from 116m) that support both resource growth and confidence for mine planning. 

What the company says

“Adiopan is shaping as another substantial deposit along the Afema shear with exceptional grade,” Managing Director Justin Tremain said, adding that the next few months should bring resource growth, more discovery drilling and steady PFS progress. 

The study, money and timeline

Turaco’s Pre-Feasibility Study is moving through the key de-risking steps:

• Metallurgy: variability and optimisation test work underway following dedicated drilling.
• Geotechnical: ~70% complete across key deposits; wrap-up expected within weeks.
• Hydrology & ESIA: field programs scheduled through November and tracking to plan.
  
  The company is guiding to PFS completion in 2QCY2026. It finished the June quarter with ~A$80m (pro-forma), enough to keep five rigs turning and then switch them to step-out drilling through Côte d’Ivoire’s dry season (from November). 
  
   

Results, simply explained

• Two stacked zones: Adiopan appears to have upper and lower mineralised zones with good continuity from weathered rock into fresh rock—helpful for both early pit design and longer-term underground options. 
• “Gram-metres” check: 9 of 12 holes delivered >50 gram-metres (grade × width), and two were >100—a quick way geologists compare drill quality. Those are healthy numbers for a West African shear-hosted gold system. 
• Near-surface upside: Older shallow drilling to the south mapped +1km of near-surface gold, which could add easy-to-mine ounces early in a project life. 
  
   

What’s next

• Resource update (near-term) for parts of Afema (Adiopan to follow in the next cycle). 
• Dry-season drill push: step-outs north of Adiopan and follow-ups at Herman, Baffia, Niamienlessa. 
• PFS milestones: wrap up geotech, advance metallurgy/hydrology and keep the 2QCY2026 target in sight. 
  
   

Market snapshot (intraday, Wed 8 Oct 2025)

• Price: A$0.478 (+2.69%)
• Volume: 4.31m
• 52-week range: A$0.255–0.550
• 1-yr return: +51.6%
• Market cap: ~A$501.8m; shares on issue: ~1.05bn
  
   

Takeaway

This update is simple but important:

• Adiopan keeps hitting high-grade, with clear space to grow northward.
• Afema already has scale (3.55 Moz), and the PFS is moving through the right steps.
• A strong cash balance allows Turaco to drill hard through the dry season without stopping to raise capital.
  
  If results continue at this pace, Adiopan looks well placed to become another named deposit inside a growing Afema gold camp. 
  
   

Source: Turaco Gold ASX announcement, 8 Oct 2025.