MetalsGrove Mining has expanded its gold exploration footprint in Côte d’Ivoire to 75-kilometre contiguous corridor through a new joint venture with Aucrest Sarl, a subsidiary of Stellar AfricaGold Inc.
This builds on the company’s acquisition of three gold joint ventures permits earlier in 2025.
Under the terms of the agreement, MetalsGrove will pay US$50,000 upon signing to initiate the partnership. The company will pay US$1 million in cash upon reaching 1 million ounces of gold resources with at least 500,000 ounces in the indicated category.
MetalsGrove said the addition of the PR750-Zuénoula permit increases its total controlled exploration area in the region to 1,315km², strategically situated along the Abujar–Napié gold trend within the Oumé-Fetekro Birimian greenstone belt in central Côte d’Ivoire.
In total, MetalsGrove’s four gold permits are located roughly 100 kilometres north of the Abujar Gold Mine and 160km south of the Napié gold deposit.
MetalsGrove Mining CEO Lijun Yang said: “The acquisition of the Zuénoula permit through forming a JV with Stellar AfricaGold marks a significant milestone in the expansion of our West African gold exploration portfolio.
“This strategic addition builds on our recent consolidation of three gold permits in central-west Côte d’Ivoire, increasing our total landholding to 1,315 km² in one of the most prospective yet underexplored gold provinces in the region.
MetalsGrove will start surface sampling activities this December in order to define gold corridors to be followed by drill testing.
Yang added: “Through this acquisition, we are rapidly moving forward and will commence surface sampling programmes this month, with the objective of identifying gold trends (gold corridors) and significant gold anomalies along these trends.
“Drill testing of these gold exploration targets will follow soon after.
“Our approach remains methodical and data-driven, leveraging regional knowledge and partnerships to unlock value efficiently and sustainably.”
To fund its gold exploration activities at the Central West gold project in Côte d’Ivoire, MetalsGrove has also raised AU$2.7 million through a placement of shares.
The company issued 45,033,330 shares at a price of 6 cents per share in two tranches.
The first tranche is scheduled to close on or around December 16, with the second tranche to be issued in late January 2026.
The funds raised from the placement will be used to advance geochemistry works across the Zuénoula land package and accelerate work on existing permits once granted.