Miminvest

Miminvest Joint Venture

Early-stage joint venture partnership with Teranga’s cornerstone shareholder.
Recently completed a first ever drill program at Guitry with encouraging drill results.

Quick Facts

Location
Exploration permits located across Côte d’Ivoire, West Africa

Land Area
Three greenfield exploration tenements covering areas totaling +1,170km2

Ownership
100% (3% net smelter royalty - Miminvest)

Joint Venture Partner
Miminvest SA

Overview of Miminvest Properties

Through a joint venture agreement with Miminvest, Teranga holds three Exploration Permits in Côte d’Ivoire, Guitry, Dianra and Sangaredougou. Of these Exploration Permits, the most advanced is Guitry.

Early-stage stream sediment BLEG sampling has been completed on all Miminvest permits and initial grid-based soil sampling was undertaken where warranted.

Exploration activities are continuing, and extensive gold-in-soil geochemical anomalies covering large areas have been identified on all three properties.

Field activities focused on all three properties are scheduled to resume during Q4 2019. Reverse circulation ("RC") and diamond drilling programs are scheduled after the rainy season at Guitry, with trenching and possible RC drilling planned for both Dianra and Sangaredougou.

High-Priority Guitry Property

The Guitry complex, including Sangaredougou, is situated on an extension of the Houndé belt and considered highly prospective.

The first-ever drilling exploration program at Guitry consisted of a 68-hole, 3,320 metre air-core drilling program targeting a very extensive gold-in-soil anomaly. This program included a series of shallow, widely spaced, multi-hole drill profiles designed to evaluate the primary exploration target identified on the property. Drilling was undertaken within the central 1,000-metre strike extent of an extensive gold-in-soil geochemical anomaly covering an area of approximately 3 km by 7 km with soil values up to 9 g/t Au.

  • 24 metres grading 2.02 g/t Au (GUAC008)
  • 20 metres grading 6.37 g/t Au (GUAC018)
  • 4 metres grading 5.80 g/t Au (GUAC015)

A follow-up program to evaluate these initial results is planned for Q4 2019 through to Q1 2020, consisting of mechanical trenching, and reverse circulation and diamond core drilling.

Sangaredougou Property

The Sangaredougou property is contiguous to the Guitry property. The initial field exploration program at Sangaredougou was completed in late 2017. This initial exploration program consisted of soil sampling over a series of widely spaced regional grid lines covering the entire property. Results from the program are considered encouraging with two gold-in-soil anomalous trends extending across the entire 7 km length of the survey grid with peak gold-in-soil values of up to 1,733 ppb of gold.

Additional exploration activities including infill and extension soil sampling have been completed.  As well, trenching of the current geochemically anomalous trends has commenced. 

Dianra Property

The initial phase of exploration at the Dianra property outlined a number of favourable targets warranting follow-up evaluation. The ground magnetics survey in the first half of 2018, spanning the entire 30 km length of the property, has outlined a favourable northeast to southwest trending structural zone hosting a high-priority gold-in-soil geochemical anomaly with an approximate 6 km strike length. Teranga is planning for a follow up trenching exploration program during Q4 2019.