Ann: Turaco to Acquire Interest in Afema Gold Project, page-9

Woulo Woulo is 2.9km long, mostly drilled and mineralized to 200m deep. Let’s call average thickness 30m and SG 2.75g/t. This gives us 48Mt of material. Let’s shave 20% off to give some wiggle room and call it 38Mt. I think grade is maybe 0.9-1g/t from eyeballing it. Gives us about 1.1Moz at 0.9g/t or 1.2Moz at 1g/t.

There is what looks to be a decent starter pit though that from eyeballing looks like could be more like 1.1-1.2g/t. Hard to now from 0.5g/t ranges being same colour so this is very much a spitball.



Anuri looks like a decent starter pit possible too and sitting in much higher grade 3g/t+. This gives optionality on blending feed to get payback done quickly IMO



There are some easy picking oxides here and then into sulphides but there could be 50-60koz in this little pocket.

Jonction not quite as easy but it has a fairly high grade pocket near surface too. Looks like some real optionality on how they schedule early feed.



At a rough guess they probably have 1.5-2Moz sitting there waiting to be confirmed as JORC MRE

Exploration ground looks top notch

Nianemlessa has some good hits in a small pit + multiple 2-3g/t+ trenches showing there is likely a stack of oxides sitting along these sheers that can add to MRE and feed to support Woulo Woulo.



Finally the soils on the sheer structures at M’ possa and Chabieres look like they could throw up some really nice results.