Argonaut recently visited Exore Resources’ (ERX) Bagoe gold project in Cote d’Ivoire (80% ERX). The site visit confirmed our view that the project is on track to become a significant new gold deposit in the north of the country, with at least four discreet discoveries. ERX’s projects lie on the convergence of the gold-endowed Tongon and the Syama belts, which host three +3Moz deposits within 120km radius of Bagoe. Extensional drilling and a recent Induced Polarisation (IP) survey have highlighted the potential for significant extensions to the main Antoinette Central prospect, which is has a current strike of ~900m. ERX is well-funded for its ongoing diamond, RC and air core drilling with ~$14.4m cash and no debt. Speculative Buy recommendation.
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