Cote d’Ivoire Emerges as a Premier Gold Exploration Destination

John Forwood of Lowell Resources Fund discusses Cote d’Ivoire’s emergence as a top destination for gold exploration. With rising gold prices and evolving regulations that support exploration, the country has transformed from a mining pariah to a fertile ground for investment. Notable companies are reporting impressive results, indicating potential growth opportunities in the region.

In the current landscape of the ASX resources market, John Forwood, Chief Investment Officer of Lowell Resources Fund, highlights Cote d’Ivoire as a salient destination for gold exploration. With gold prices nearing the US$3000/oz threshold, investors are seeking safer jurisdictions for their interests. While West African gold producers often encounter the so-called ‘African discount,’ astute investors recognize the unique prospects that Cote d’Ivoire now offers, despite regional instability in nations like Mali and Burkina Faso.

Historically, Cote d’Ivoire experienced challenges following its civil war in 2011, yet it has transformed into a prime location for gold exploration. Forwood remarked that the region has gained significant appeal, particularly if one is not investing in the West Australian Goldfields. “Cote d’Ivoire seems to be the absolute flavour of the month; if you’re not in the WA Goldfields, then Cote d’Ivoire is a pretty good second prize,” he noted.

Recent regulatory changes have increased the government’s willingness to approve exploration permits for forested areas. These developments allow investor companies to advance on previously dormant applications in highly prospective regions. Forwood explained that exploration in these zones could lead to the discovery of additional high-grade projects, as the geology remains promising.

Many Peaks Minerals, for example, recently reported significant results from its Ferké gold project, thereby further underscoring the geological potential of Cote d’Ivoire. Investors are keenly observing results like the 45m intercept of 8.58g/t gold discovered at a shallow depth of 104m. Such successful drills highlight the emerging prospects in the region.

Forwood pointed to Turaco Gold, which is in possession of considerable reserves and has indicated potential resource upgrades this year. He also mentioned the anticipated market entry of several private companies, including Famien Resources, founded by Paul Roberts of Predictive Discovery, which is making strides in early-stage exploration in Cote d’Ivoire.

Notably, Aurum Resources is also on Forwood’s radar, as it applies its business acumen to transform its acquisitions into lucrative projects. This includes the incorporation of Mako Gold and its 868,000oz Napié gold project. “Aurum drills a huge number of metres, gets onto highly prospective areas and proves up resources very, very quickly,” Forwood stated, indicating the company’s potential speed in resource development.

Forwood’s analysis of Many Peaks also highlights its advantageous position due to recent discoveries at the Ferké site, suggesting that the company may capitalize on the significant mineralization potential within its multi-kilometre strike lengths. The prior successes of Famien Resources’ team amplify its potential viability as an investment.

Ultimately, Cote d’Ivoire showcases a remarkable shift in the investment landscape, as it evolves into a premier venue for gold exploration, characterized by supportive regulatory changes and promising geological prospects. Investors are encouraged to stay informed about emerging opportunities within this dynamic market.

In conclusion, Cote d’Ivoire has established itself as a leading gold exploration jurisdiction, attracting ASX-listed companies due to its favorable geological conditions and supportive government policies. Investors are increasingly recognizing its potential, especially in the context of the broader West African region facing operational challenges. With key companies making significant discoveries and advancing their exploration efforts, Cote d’Ivoire represents a promising frontier for growth in the gold mining sector.

Original Source: stockhead.com.au