Each one in plain English, with the numbers worked through for a shareholder.
13 Oct 2026drilling result▲ Good
Woulo Woulo deep drilling hit 56m @ 3.87g/t including 16m @ 10.19g/t, which management calls arguably its best result there. It supports a roughly 700m high-grade shoot below the 1.7Moz resource; another deep rig is mobilising and the ESIA is due to be submitted this month.
Begnopan drilling returned high grades, e.g. 24m @ 3.30g/t and 11m @ 4.33g/t, extending mineralisation beyond the 260koz resource. Results cover 69 of 113 holes. The 4.65Moz resource update is due Q4 2026 and may include Begnopan in the ore reserve.
Adiopan drilling extended shallow high-grade gold, e.g. 15m @ 4.72g/t and 18m @ 2.71g/t, at the Asupiri deposit (1.28Moz resource within the 4.65Moz total). The company says this supports further resource growth; a further resource update is still targeted by end 2026.
Deep drilling at Woulo Woulo hit 100m @ 1.06g/t from 495m, including 17m @ 2.96g/t, about 250m below earlier drilling and below the PFS pit. This suggests the 1.7Moz deposit could grow; further deep holes are being drilled.
Afema pre-feasibility study shows a 10.3-year open pit producing about 200,000oz a year, with a maiden 1.91Moz Probable Ore Reserve. Development capital is US$410M; post-tax NPV(5%) is US$2.1B at US$3,500/oz gold. Resource stays 4.65Moz. This delivers the study due June 2026.
Adiopan-Asupiri drilling returned results such as 28m @ 2.17g/t, and new areas Sikasso and Bergerie outside the 4.65Moz resource also returned gold (e.g. 20m @ 2.28g/t). PFS is now said to be due in June 2026, within the 2Q CY2026 target.
Afema resource rises to 4.65Moz (115.3Mt @ 1.3g/t), up 590koz from 4.06Moz in October 2025, with a maiden 100koz Herman resource and bigger Asupiri (1.32Moz). Indicated ounces up 23%. A maiden Ore Reserve is expected in the PFS, due 2Q CY2026.
Drilling along the Niamienlessa-Affienou Trend returned oxide gold such as 14m @ 3.18g/t and 2m @ 13.26g/t at new Affienou West. The last five Adiopan holes also reported (e.g. 25m @ 1.96g/t). The updated 4.1Moz resource is being finalised; PFS still due 2Q CY2026.
Adiopan step-out drilling extends mineralisation about 1.5km along strike, with results such as 42m @ 2.76g/t and 25m @ 3.31g/t, plus new parallel shears. The company expects material, higher-grade resource growth in the 1Q CY2026 update.
Anuiri and Jonction infill results, such as 51m @ 2.48g/t and 15.35m @ 5.39g/t, are consistent with the existing models and expected to give modest Anuiri growth. All infill assays are now in, and rigs focus on exploration.
Woulo Woulo infill drilling confirmed continuity, with 134m @ 1.07g/t, and Herman returned shallow high-grade, such as 8m @ 4.30g/t. A maiden Herman resource is planned in the update due by end 1Q CY2026; PFS still due 2Q CY2026.
Afema resource rises to 4.06Moz (102.9Mt @ 1.2g/t), up more than 500koz from 3.55Moz five months earlier. Includes maiden Begnopan (260koz) and Toilesso (40koz) and Asupiri up to 1.02Moz. Next update due 1Q CY2026; PFS due 2Q CY2026.
Five diamond holes at Adiopan confirm a significant new discovery, best 16m @ 5.03g/t and 25m @ 2.48g/t, following the August maiden holes. Asupiri infill also positive. An MRE update excluding Adiopan is due within weeks; PFS due 2Q CY2026.
Begnopan drilling returned up to 8m @ 6.36g/t over about 3km of strike, and metallurgy showed 89% gold extraction. A maiden Begnopan resource is planned for the Q4 2025 update to the 3.55Moz total. Five rigs are now drilling.
Drilling outside the 3.55Moz resource found new mineralisation at Adiopan, with results including 25m @ 2.66g/t and 21m @ 3.24g/t. Asupiri and Anuiri also extended, with 3m @ 16.32g/t at a new zone near Anuiri. Cash is over A$80M.
Scout drilling next to Woulo Woulo hit 4m @ 82.01g/t, including 1m @ 324.58g/t, an isolated hole with no drilling along strike. Baffia returned 14m @ 1.19g/t. A fourth rig is now drilling, and cash is over A$85M.
Drilling at Toilesso, 2km north of Jonction, returned e.g. 25m @ 1.75g/t and 6m @ 4.24g/t, and Jonction extension holes hit 7m @ 7.08g/t. An IP survey is being expanded; the company says these support short-term growth of the 3.55Moz resource.
Afema resource rises over 40% to 3.55Moz (90.8Mt @ 1.2g/t) from 2.52Moz, including a maiden 820koz at Asupiri. A pre-feasibility study is to start, due H1 2026, and a further resource update is targeted by end of 2025.
32 shallow holes at Begnopan, between Jonction and Anuiri, returned e.g. 34m @ 3.44g/t from 65m, across 2.5km of strike. These results miss the cutoff for the imminent resource update but support later growth.
28 holes at Asupiri, next to Anuiri, returned e.g. 9m @ 4.49g/t and 21m @ 2.15g/t, consistent with historical drilling. A maiden Asupiri resource will join the Afema update, now expected early in the June 2025 quarter, a slip from the March target.
Maiden drilling at the Baffia prospect, about 3km from Jonction, hit 32m @ 1.69g/t from 12m and 21m @ 1.79g/t from 104m, a new discovery. Only 13 of 23 holes are reported; an updated resource is targeted by end of March quarter.
Jonction returned high-grade results such as 9m @ 9.88g/t from 288m, still open at depth. First-pass Affienou drilling hit 7m @ 3.78g/t and 23m @ 1.19g/t. Turaco also confirms its Afema interest is now 80%, completing the Sodim deal.
Turaco agreed with partner Sodim to lift its Afema interest from 51% to 80% for US$14.2M, half cash and half shares (~36.3M). This accelerates the earlier path to 70%. Sodim's royalty option falls to 1.5% from 2.0%. Share issue needs approval by 14 January 2025.
First-pass drilling at Niamienlessa SW, a new discovery within about 10km of the Afema deposits, hit 12m @ 6.72g/t from 18m and 27m @ 1.30g/t. These are the first 10 of 16 holes, so the pending results are partly answered; more holes await.
Seven shallow holes at the Herman Mine, about 700m from Woulo Woulo, all hit gold, e.g. 15m @ 2.11g/t from 93m. Turaco calls this a new parallel mineralised trend, open to the north for 1km. Follow-up drilling is planned; no resource yet.
Final five deep Woulo Woulo holes, outside the maiden resource, all extended mineralisation, including 92m @ 1.65g/t from 181m and 211m @ 0.90g/t from 206m. This resolves the five pending deep holes and supports resource growth, though the resource itself is unchanged.
New Woulo Woulo holes, not in the maiden resource, include 186m @ 1.65g/t from 263m (with 7m @ 14.43g/t) and 84m @ 1.73g/t from 280m. Turaco says this points to resource growth at higher grade. Exploration permit drilling has started.
Turaco announced a maiden Afema resource of 2.52Moz gold: Woulo Woulo 1.25Moz, Jonction 660,000oz and Anuiri 600,000oz, 60% Indicated. It is called interim, with drilling ongoing. This delivers the resource target set when Afema was acquired.
Results from 23 more Woulo Woulo holes include 61m @ 1.64g/t from 124m and 87m @ 1.04g/t from 138m, with grade increasing at depth. 60 holes (>8,500m) drilled. Cash was A$18.3M at 30 June; maiden resource due in coming weeks.
Results from 11 more Woulo Woulo holes include 52m @ 1.32g/t from 166m and 54m @ 1.03g/t from 116m, supporting continuity of the deeper northern zone. 50 holes (~7,000m) drilled; maiden resource still targeted for the September quarter. Cash about A$20M.