METALSGROVE

MGA built a significant project portfolio through four gold exploration JV permits covering 1,315 km² of highly prospective Birimian greenstone belts in Côte d’Ivoire

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MetalsGrove Mining Limited (ASX: MGA) is an Australian Securities Exchange (ASX) listed gold exploration company dedicated to the discovery and advancement of multi-million-ounce gold deposits within its strategically positioned project portfolio in Côte d’Ivoire

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Côte d’Ivoire

Côte d’Ivoire, located in West Africa, shares borders with Liberia and Guinea to the west, Mali and Burkina Faso to the north, and Ghana to the east (Figure 1).

Figure 1. Map illustrating location of Côte d’Ivoire in Africa

Favourable Mining Investment Jurisdiction in West Africa

Côte d’Ivoire is one of the region’s most dynamic and rapidly growing economies. With a population of over 29 million, the country is known for its political stability, pro-business reforms, and strategic position as a hub for gold mining investment.

A transparent mining code that guarantees security of tenure and clearly defines rights and obligations.
Attractive fiscal incentives, such as reduced corporate tax rates for mining companies, exemptions on import duties for equipment, and VAT credits.
Streamlined permitting processes designed to accelerate exploration and development timelines.
Stability clauses in mining agreements, providing investors with confidence in long-term operations.
Government support for infrastructure development, particularly in transport and energy, to facilitate mining projects.
The best geological settings of gold exploration in West Africa

Côte d’Ivoire is home to several prolific, gold-producing Birimian greenstone belts, which extend from neighbouring West African countries and host numerous multi-million-ounce gold deposits. Despite this, Côte d’Ivoire remains vastly underexplored, presenting substantial potential for further major gold discoveries. Notable gold discoveries and operating mines (Figure 2) in Côte d’Ivoire include:

Barrick Gold’s Tongon Project – 4.9Moz
Perseus Mining’s Sissingué Project – 1.1Moz
Endeavour Mining’s Ity and Agbaou Projects – 5.4Moz and 1.1Moz, respectively
Montage Gold’s Kone Project – 5.3Moz
Tietto Minerals (owned by Zhaojin Capital) Abujar Project – 3.8Moz.
Figure 2: Map illustrating location of Central West Gold Project
Central West Gold Project

MetalsGrove Mining Limited acquired the Central West Gold Project, consisting of four (4) joint venture (JV) permits (Figure 3) in central-west Côte d’Ivoire, West Africa (“Central West Gold Project”).

The permits are strategically located between 60 km and 140 km northeast of the 3.8 Moz Abujar gold mine, currently in operation.
Total area of 1,315 km², encompassing over 50 km of highly prospective Abujar fault/shear structures with a contiguous 75 km strike of highly prospective greenstone belt
Regional geological sequences indicate favourable characteristics for gold mineralisation, aligning with Côte d’Ivoire’s well-endowed gold terrains.
Highly anomalous auger and soil lag sampling results from neighbouring permits suggest that gold mineralisation is highly likely to extend into the acquired areas.
Aeromagnetic surveys reveal a complex structural setting, including several structural pressure shadows and low-strain zones, further enhancing prospectivity.
Presence of artisanal mining activities within the permit area indicates potential for near-surface gold mineralisation.
Figure 3. Map of Central West Gold Project on local area geology
Regional Geology Background and Gold Mineralisation Potential

The three permits cover a total area approximately 950 km² and hold many characteristics of the well-mineralised gold terranes in Côte d’Ivoire that host large (+1Moz) deposits. These include:

Birimian greenstone belt with mixed metasediment and volcanic sequences
Multiple episodes of granite intrusion
Country-scale, northeast-trending structure with multiple bifurcations and structural splays
Multiple, low-strain zones and pressure shadows - favourable structural targets for gold mineralisation
Established gold trends defined by auger or LAG geochemistry in neighbouring concessions that trend into the Central West Gold JV project area
Artisanal gold mining activity (Kounahiri West)
Favourable distance (60 to 100km) from known +1Moz gold deposit.
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Suite 9, Level 2, 389 Oxford Street, Mount Hawthorn WA 6016

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