Resources Top 5: West Africa ASX goldies go galactic

A spectacular, wide, high-grade gold vein of an eye-whopping 65m at 5.6g/t has been intercepted at A1G’s Blaffo Guetto prospect at the Didievi project in Cote d’Ivoire, along with shallow intercepts of 9m at 1.7g/t of gold from 23m and 28m at 1.1g/t from 77m.

Not one for grandiosity, A1G said the results will go towards a 'positive' update to Didievi's existing 4.93Mt for 452,000oz gold at 2.9g/t resource (with a 1g/t cut-off grade).

There were also changes to the company’s board announced on Tuesday morning, with Adam Oehlman stepping in as CEO and Phillip Gallagher set to step down as managing director.

A1G tenements in West Africa. MPK has projects near Didievi. Source: A1G.

“65.m at 5.6g/t gold from 177m is a spectacular result from the recent diamond drilling program on the Blaffo Guetto prospect," A1G MD Phillip Gallagher said.

"Excitingly, it is an extension of previous mineralisation and remains open at depth, plus it has extended our target area which this diamond drilling was designed to test.

"This is a fantastic result that has shown that the resource modelling that the design of this diamond drilling program was based on is proving to be accurate."

Didievi has other exciting prospects that remain substantially untested, says the explorer, including the Kouassi and Akissi prospects to the north of Blaffo Guetto and the 11km-long Poku gold trend located to the south-west.

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"These fantastic drilling results today strengthen our belief that the Didievi Project has the potential to be a multi-million-ounce deposit,” Gallagher said.

Shares have gone up a whopping 110 per cent at time of writing.

West Africa is heating up for bullion

M&A activity is accelerating around bullion hunters in the West African nation, where production has grown more than five-fold since 2010.

Canada’s Thor Exploration snapped up Endeavour Mining’s Guitry project last month for $US100,000 and a 2 per cent net smelter royalty, targeting a 500,000-1Moz gold resource.

That’s on top of an earn in agreement to grab an 80 per cent interest in Goldridge Resources’ early-stage Boundiali project in the country’s northwest.

“Côte d’Ivoire hosts over 30 per cent of West Africa’s greenstone belts and is proving to be an emerging region for world-class gold discoveries,” Thor Exploration CEO Segun Lawson said.

And while there’s no news from Many Peaks Minerals (ASX:MPK), its stock is perhaps riding up on the news of today’s heavily traded neighbour A1G.

MPK has projects in the same region, near Didievi, and recently increased its footprint in the country by 50 per cent with the acquisition of the Baga gold project.

It's currently planning to drill high-priority targets at its Odienne project this quarter, which is on the same shear corridor as Predictive Discovery's (ASX:PDI) Bankan discovery along with several other gold occurrences that straddle over the border into neighbouring Guinea.

Bankan recently drew in West African ASX gold beast Perseus Mining (ASX:PRU) as a major shareholder in PDI.

MPK shares are up 12.5 per cent, adding to a 73 per cent YTD rise in stock price and currently trading at 22c.

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