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Publisher: Jess Watts, Editorial Assistant
Global Mining Review, Wednesday, April 2, 2025, 15:30
MetalsGrove Mining Ltd. has entered into a binding term sheet to acquire three gold joint venture (JV) permits (Central West Gold JV) in West Africa’s Central West Ivory Coast.
The permit has been obtained from ASX-listed Desert Metals Ltd and its subsidiaries. The newly obtained permit is currently held by Générale des Mines et Carrières SARL (GEMICA), an Ivorian private company.
highlights
Signing of binding terms and conditions for three gold joint venture licenses in west central Ivory Coast, West Africa. The permit is strategically located between 60km and 140km northeast of the currently operational 3.8 Moz Abujar gold mine. The acquisition covers a total area of 950km2 and includes over 50km of the highly prospective Abu Jar fault/shear structure. The geological sequence of the region is consistent with the gold-rich topography of Ivory Coast and exhibits favorable characteristics for gold mineralization. Highly unusual auger and soil lag sampling results from neighboring permits suggest that gold mineralization is likely to extend into the acquisition area. Aeromagnetic surveys have revealed a complex tectonic environment, including several tectonic pressure shadows and low strain zones, further enhancing prospects. The presence of artisanal mining activities within the concession area indicates potential. Gold mineralization near the surface.
Lijun Yang, Managing Director and CEO, commented:
“We are pleased to announce that Metals Globe is expanding its exploration footprint in Côte d’Ivoire, a highly prospective region known for its multi-million ounce gold deposits. The newly granted permit covers 950 square kilometers within the highly prospective Birimian greenstone belt and covers more than 50 km of major fault/shear structures.”
“This strategic acquisition allows us to leverage our extensive gold exploration expertise within this rich geological environment. With a favorable geological framework, highly unusual gold results from adjacent projects, and structural insights gained from aeromagnetic surveys, we are confident in our potential to identify significant gold deposits.”
“Our initial exploration program will begin immediately upon successful completion of the transaction and permitting.”
The article is available online: https://www.globalminingreview.com/mining/02042025/metalsgrove-expands-into-cte-divoire/
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