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Santa Fe Minerals Ltd. ( (AU:SFM) ) has shared an announcement.
Santa Fe Minerals has commenced drilling at the Satama gold prospect within its Eburnea Gold Project in Côte d’Ivoire, following the acquisition of the project from Turaco Gold. The program comprises 33 planned holes, including diamond and reverse circulation drilling totaling 7,700 metres, aimed at testing gold lodes over a 2km strike where historic intercepts have shown encouraging grades.
During the quarter, the company also completed the acquisition of an 80% interest in four additional highly prospective gold projects in Côte d’Ivoire from WIA Gold, further consolidating its position in the region. Santa Fe strengthened its balance sheet with a $6 million share placement, providing funding to advance exploration and potentially delineate significant gold resources for future development.
More about Santa Fe Minerals Ltd.
Santa Fe Minerals Ltd. is an Australia-based mineral exploration company focused on gold projects, with a growing portfolio in Côte d’Ivoire. The company targets highly prospective greenfield and early-stage gold assets, leveraging drilling and geochemical programs to define significant resources in West Africa’s emerging gold districts.
Average Trading Volume: 111,837
Technical Sentiment Signal: Buy
Current Market Cap: A$45.59M
Learn more about SFM stock on TipRanks’ Stock Analysis page.