What's Happening?
MetalsGrove Mining has expanded its gold exploration activities in Côte d’Ivoire by securing a 75km corridor through a joint venture with Aucrest Sarl, a subsidiary of Stellar AfricaGold. This acquisition
adds the PR750-Zuénoula permit to MetalsGrove's portfolio, increasing its controlled exploration area to 1,315km². The permit is strategically located between existing permits and is part of the Abujar–Napié gold trend within the Oumé–Fetekro Birimian greenstone belt. The region is known for its untapped gold potential, highlighted by extensive artisanal mining activities. MetalsGrove plans to begin surface sampling to identify gold corridors, followed by drill testing.
Why It's Important?
This expansion strengthens MetalsGrove's position in one of West Africa's most promising yet underexplored gold regions. The strategic location of the new permit enhances the company's ability to discover significant gold deposits, potentially increasing its resource base and market value. The move also reflects the growing interest in West African gold mining, driven by rising gold prices and the region's geological potential. Successful exploration could lead to increased investment and economic development in Côte d’Ivoire, benefiting local communities and the national economy.
What's Next?
MetalsGrove will commence surface sampling activities to define gold corridors and identify significant gold anomalies. Drill testing will follow to further explore these targets. The company has also secured $2.7 million through an oversubscribed placement to fund initial exploration activities. This financial backing will support the company's methodical and data-driven approach to unlocking value in its West African gold projects.
