Famien Resources Reports Promising Gold Intercepts at Bonougbara Trend in Côte d'Ivoire Following Drilling Setbacks

Bonougbara Trend Southern Target Yields Initial RC Drilling Success for Famien's Gogo Permits

Famien Resources has disclosed results from five reverse circulation drill holes targeting the Southern Target of the Bonougbara Trend within the Gogo Permit in Côte d'Ivoire. These holes represent the company’s first systematic drill testing of its two Gogo permits beyond previous auger drilling efforts. The Southern Target was prioritized due to site access when the rig arrived. Results confirm a gold mineralised system with broad zones of intense alteration, shearing, and sulphide presence along the mineralised structure.

Notable drill intercepts include GOERC0005 with 6 metres at 2.68 grams per tonne gold from 33 metres depth; GOERC0002 featuring 3 metres at 5.61 grams per tonne gold from 44 metres and 5 metres at 1.44 grams per tonne gold from 73 metres; GOERC0003 intersecting 23 metres at 0.64 grams per tonne gold from 37 metres (including 2 metres at 2.34 grams per tonne gold); and GOERC0001 recording 2 metres at 4.43 grams per tonne gold from 71 metres. These intercepts cover less than 400 metres of strike length within the 5-kilometre Bonougbara Trend.

Geological and Structural Features of Bonougbara Mineralisation

The drilling at Bonougbara Trend Southern Target intersected extensive sheared sericite-quartz-pyrite alteration zones within a pronounced fault cutting mafic volcanics. Technical analysis links higher gold grades to fine-grained pyrite and quartz veining within the shear zone, indicating a robust fault system extending along the entire Bonougbara Trend. The mineralisation aligns with an inferred northeast-trending structural feature identified via wavelet analysis of historical aeromagnetic data.

The five drill holes targeted beneath a new artisanal mining site within the Southern Target. The Northern Target, identified as the highest priority within the Bonougbara program, has historical rock chip samples showing high-grade gold values up to 92.6 grams per tonne. This artisanal site has been mined for over 20 years, with shafts reaching depths of 80 metres. Wavelet analysis reveals that the Bonougbara Trend structure splits into three parallel east-northeast trending features beneath the Northern Target, creating a "dilational jog" pattern that may enhance hydrothermal fluid flow and gold mineralisation intensity.

Additional Drilling Targets and Program Scope Along the 5-Kilometre Bonougbara Trend

The completed Southern Target drilling phase is the initial segment of Famien’s 3,500-metre RC program at Bonougbara. The company plans to test further targets including the Northern Target, located within 600 metres of artisanal workings with high-grade gold samples, and the Central Target, approximately 900 metres along strike, defined by seven gold-anomalous power auger holes. The 5-kilometre Bonougbara Trend follows the inferred northeast structural trend within the Gogo Permit. The initial five holes confirm mineralisation over less than 400 metres of strike, leaving substantial potential for further discovery. Famien expects to release results from the remaining 3,000 metres of drilling as they become available. Upon completion by end July 2026, the rig will relocate to the Tougbo1 Permit to test the Kalama Bave gold system at depth.

Operational Delays and Resolution in Early Gogo Drilling Phase

The Bonougbara RC drilling program faced significant delays early on due to maintenance issues and replacement part procurement challenges. These setbacks slowed progress and delayed initial results. However, the company has resolved these issues, resuming normal operations with the rig running double shifts to complete the 3,500-metre program by the end of July 2026.

Managing Director Paul Roberts expressed satisfaction with the program’s start at Gogo, mirroring the initial success at Tougbo1 by intersecting a strong gold mineralised system early. He highlighted the broad zones of alteration, shearing, and sulphides with multiple reportable intercepts and encouraging grades as an excellent foundation for the campaign, indicating results have met or exceeded expectations despite early operational challenges.

Koroba West Dump Sampling Reveals Anomalous Gold in Altered Granite

At the Koroba West target on the Tougbo1 East Permit, Famien’s dump sampling of altered granite material has identified anomalous gold values. Koroba West lies on an eastern inferred structural feature within the Tougbo permits’ mapped geology. Its location, coupled with gold mineralisation at the AW1 target on the same structure, suggests potential for further gold mineralisation along this major fault or shear zone.

This dump sampling program systematically evaluates material from historic workings or exploration, offering cost-effective reconnaissance data on mineralisation characteristics and alteration extent. Confirming anomalous gold in altered granite at Koroba West supports the company’s view that the eastern structural feature is a prospective gold zone within the Tougbo permits.

Regional BLEG Stream Sediment Survey Expands Exploration Scope

In addition to focused drilling and dump sampling, Famien is conducting a regional Bulk Leach Extractable Gold (BLEG) stream sediment survey across its Côte d'Ivoire permit areas. This reconnaissance exploration tool identifies drainage catchments with anomalous gold signatures, guiding targeted follow-up work. The program is progressing well, enabling systematic evaluation of gold prospectivity beyond immediate permit targets.

The Tougbo permits’ geology shows gold mineralisation associated with two major inferred structures near or within a mapped schist belt, a zone of higher deformation. The BLEG survey complements detailed target work, providing a systematic assessment of additional prospective zones. This combined approach of reconnaissance and focused drilling is typical for junior explorers advancing targets in frontier gold districts.

Famien’s Côte d'Ivoire Portfolio and Strategic Focus on Gogo Permit

Famien Resources concentrates exploration in Côte d'Ivoire, holding multiple permits including Gogo and Tougbo. The company focuses on gold exploration and development, with systematic work underway following preliminary auger drilling and mapping. The successful identification of gold mineralisation at Bonougbara during the maiden RC program highlights the potential of the Gogo Permits to host significant mineral resources.

The Tougbo Permits, with prior gold discoveries, remain under active investigation, with planned deeper drilling at Kalama Bave after Bonougbara completion. Famien’s strategy integrates geological mapping, geochemical sampling, and structural interpretation of aeromagnetic data to generate multiple targets, creating a pipeline for sequential exploration advancement.

Historical Data and Structural Analysis Underpin Bonougbara Targeting

The Bonougbara Trend’s structural and geological context has been refined through integration of historical data and recent exploration. Wavelet analysis of historical Newcrest aeromagnetic data reveals a northeast-trending structure at Bonougbara, linear near the Southern Target but splitting into three parallel east-northeast features beneath the Northern Target. This complex structural setting may enhance mineralisation potential.

Historical rock chip samples from Northern Target artisanal workings, with peak gold values of 92.6 grams per tonne, provided strong encouragement for the maiden RC drilling. Artisanal mining activity over 20 years with shafts up to 80 metres deep confirms gold presence. The structural interpretation indicating a dilational jog beneath the Northern Target aligns with geological models predicting intensified mineralisation due to increased fluid flow and deposition at such features.

Next Steps: Completing Bonougbara Drilling and Advancing Kalama Bave Exploration

Famien’s immediate focus is completing the remaining 3,000 metres of the 3,500-metre Bonougbara RC drill program by end July 2026, with double-shift operations ongoing. This will include testing the Northern and Central targets following the Southern Target’s successful drilling. The company plans staged results releases as data becomes available.

After Bonougbara, the RC rig will move to the Kalama Bave mineralised system on the Tougbo1 Permit to test gold mineralisation at greater depths. Managing Director Paul Roberts indicated this return to a proven mineralised zone follows earlier successful work. Although no specific timeline or drilling scope was disclosed for Kalama Bave, the sequential drilling approach reflects Famien’s strategic management of exploration priorities and resources.