Turaco Gold has entered into an option agreement with Fortuna Silver Mines over the five exploration permits that comprise the Tongon North Project in northern Cote d’Ivoire. Fortuna is a leading West African gold producer listed on the TSX and NYSE with a market capitalisation of ~C$1.2 billion. READ MORE ARTICLES ABOUT GOLDTo exercise the Option, Fortuna must spend a minimum of US$3.5 million on the Tongon North Project area within 3 years (with minimum annual expenditure of US$0.5 million). Fortuna must spend a minimum of US$1.25 million on the Tongon North Project area before allowing the Option to lapse. Managing Director, Justin Tremain commented:“The granting of an option over the Tongon North Project to Fortuna is consistent with Turaco’s steadfast commitment and focus on the Afema Gold Project in southeast Cote d’Ivoire.

Source: The North Africa Journal March 06, 2024 16:31 UTC