Ann: Large Scale Gold Discovery Cote D'Ivoire, page-2

1
Issued Capital 336.7m
Share Price 13 cents
Market Cap ~A$43.7m
Cash (30 Sept 2021) ~A$5.7m
Contact
Level 2, Suite 9
389 Oxford Street
Mount Hawthorn WA 6016
Phone: +61 8 9380 6062
Web: turacogold.com.au
@TuracoGold
Turaco Makes New Large Scale Gold Discovery
in Cote d’Ivoire
Highlights
 Exceptional high-grade auger results over 4.5kms of strike from reconnaissance
shallow (~10m) power auger drilling at the 100% owned Satama permit with in
the Eburnea Gold Project (refer Figure One)
 Auger results include (refer Appendix One for complete results):
o 9m @ 4.49g/t gold fr 1m
o 5m @ 2.14g/t gold fr 6m
o 8m @ 1.79g/t gold fr 2m
o 1m @ 9.91g/t gold fr 9m
o 5m @ 1.04g/t gold fr 5m
 Results are from auger drilling completed on 250m spaced traverses along a 5km soil
anomaly
 Multiple +500ppb gold results up to 600m wide along a strike of 4.5km
 Follow up aircore (‘AC’ and reverse circulation (‘RC’ drilling to be undertaken
on the Satama auger discovery during November 2021
 Multi rig drilling program continuing with large pipeline of assay results
pending, including:
o AC drilling at Boundiali with ~6,000m completed of an ongoing initial 9,000m
program, testing 3kms of northern and 3kms of southern strike extensions at
Nyangboue (refer Figure Four)
o RC drilling at Boundiali with ~1,500m completed of an ongoing initial 3,000m
program testing dip and plunge extensions to high grade gold mineralisation in
historical drilling at Nyangboue (refer Figure Five)
o Auger drilling continuing at the Eburnea Gold Project with two rigs nearing
completion of three grids across the recently defined Bouake North soil
anomalies (refer Figures Two and Three and ASX announcement 2 August 2021)
 Planning to fly a high resolution airborne magnetic survey over Satama along with
the Dielle permit and some of the Company’s other northern permits that have not
already been flown with high resolution magnetics.
Turaco Gold Limited (ASX | TCG) (‘Turaco’ or the ‘Company’ is pleased to report a new
greenfield gold discovery in central Cote d’Ivoire. High-grade gold results have been
returned across 4.5km of strike from shallow reconnaissance auger drilling at the 100%
owned Satama permit with the Turaco’s Eburnea Gold Project (refer Figures One and Two).
Turaco Managing Director, Mr Justin Tremain said:
“These initial auger results at Satama within the Eburnea gold project are highly significant
and exciting in terms of both their strike and tenor of gold anomalism. Extending over 4.5kms
of strike the results confirm a significant new gold discovery for Turaco.
Turaco has extensive drilling programs underway with four rigs operating across Boundiali
and Eburnea. A considerable number of samples have been submitted for analysis and we
expect to report initial air core and RC drilling results from the advanced Boundiali project
very shortly, along with further auger results from the Eburnea gold project.“Page 2 of 12
Satama Gold Discovery | Eburnea Gold Project (90-100% ownership)
The Eburnea project covers two granted permits covering 690km 2 (refer Figures Two and Six). Auger drilling is being undertaken
at Eburnea using two portable units testing high gold tenor soil geochemistry. An initial program of 773 holes for 5,660
metres was completed in September 2021 at Satama (100% owned) testing anomalous geochemistry previously defined by
Resolute Mining Ltd. Auger drilling was undertaken on 250m spaced traverses with auger spacing of 25-50m along each
traverse. The auger grid extended over a gold-in-soil strike length of 4.5km.
The results reported here are from this first auger program. The auger results are regarded as highly significant both in
terms of their strike and tenor.
High grades of up to 9.91g/t gold were returned over 3.5km strike with the central 2.5km of strike returning multiple high
tenor auger results across a width of up to 600m with a best result of 9m @ 4.49g/t gold from 1m.
Figure One | Satama Auger Results The Satama auger discovery is hosted on a significant north-east trending shear splaying off the crustal scale Ouango-Fitini
shear, which marks the margin of the Birimian Comoé basin. Anomalous auger results are associated with quartz veining in
weathered sediments of this basin.
Next steps will include trenching of the most significant lines to establish the structural dip direction to allow direct testing
by shallow AC drilling. Turaco is planning AC drilling at Satama to be undertaken in November 2021.