Tolu Minerals Ltd. says it has identified two new high-grade gold-bearing vein systems near the Tolukuma Gold Mine, a development the company believes could support future resource growth close to existing mining infrastructure.
The discoveries, named the Fundoot Splay and Gulbadi Splay, were announced as part of the company's ongoing near-mine drilling programme at Tolukuma in Central Province. The findings form part of the opening phase of Tolu's planned 75,000-metre-plus drilling campaign aimed at expanding mine inventory and improving resource confidence at the operation.
The most significant drilling result came from the newly identified Fundoot Splay, where drilling intersected 4.67 metres grading 42.76 grams of gold per tonne, including 1.3 metres grading 82.8 grams of gold per tonne. The company said the result confirmed the presence of a previously unrecognised high-grade hanging-wall structure adjacent to the established Fundoot vein system.
At the newly recognised Gulbadi Splay, Tolu reported an intercept of 2 metres grading 16.94 grams of gold per tonne, including 1 metre grading 26.49 grams of gold per tonne. The company said the structure was identified through a reinterpretation of existing geological, drilling and mining data.
Managing Director and Chief Executive Officer Chris Muller said the results strengthened the company's understanding of Tolukuma's growth potential.
"These results represent a pivotal moment in our understanding of Tolukuma's near-term growth potential and reinforce our conviction that substantial additional value remains to be unlocked within the immediate mine environment and across the broader goldfield," Muller said.
He said the discoveries demonstrated that significant high-grade mineralisation remained to be delineated close to existing mine infrastructure, potentially providing a shorter pathway from exploration success to future mine inventory growth.
According to the company, the Fundoot Splay lies about 50 metres into the hanging wall of the main Fundoot vein and remains open along strike and at depth. Tolu estimates the structure has more than 250 metres of untested strike extent and over 150 metres of down-dip potential. Four additional drill holes have intersected the structure, with assay results still pending.
The Gulbadi Splay is interpreted to run sub-parallel to the existing Gulbadi trend and is located near a historically mined open pit. Tolu said the structure has more than 240 metres of untested strike potential and over 180 metres of down-dip extension potential.
The company also reported encouraging results from face sampling associated with the recommencement of underground development on the Tolukuma lode. Initial sampling from the 1560 Ore Drive returned several high-grade gold intervals, including samples grading 176.88 grams of gold per tonne, 122.22 grams of gold per tonne and 71.44 grams of gold per tonne. Additional fire assay results remain pending.
Muller said the face sampling results provided early operational validation as the company works to rebuild mining activity at Tolukuma.
The company noted that numerous assay results remain pending from drilling programmes at Fundoot, Gulbadi, Gufinis and Zine, which are expected to provide additional exploration updates in the coming months.
Tolu said discoveries located close to existing underground infrastructure could potentially accelerate the conversion of exploration success into future resources and reserves, although further drilling and evaluation will be required to determine the full extent and economic significance of the mineralisation.
